CONSTRUCTION ELEMENTS OF BANKRUPTCY PREDICTION MODELS IN MULTI–DIMENSIONAL EARLY WARNING SYSTEMS
Journal Title: Polish Journal of Management Studies - Year 2012, Vol 5, Issue 1
Abstract
consequence of the inevitability of the occurrence of internal crises in companies is the taking of preventive action in place of purely remedial measures. In this respect a significant role is played by Early Warning Systems (EWS), which provide early warning information and financial threat assessments relating to the continuation of operations and bankruptcy not only for individual companies as such but also for companies as a whole. The limitations of existing models used for EWS purposes have led to the elaboration of new models, estimated on one of the largest hitherto drawn up teaching sets, constituting more than five hundred bankrupt companies. These models also distinguish themselves through the application of innovative methods and precise instruments; the structural concept of these models for multi–dimensional EWS purposes, accompanied by elements used for predicting, is presented in this article.<br/><br/>
Authors and Affiliations
Jarosław Kaczmarek
Keywords
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