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Construction measures of bankruptcy: case study of Polish enterprises

Author

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  • Natalia Nehrebecka
  • Aneta Dzik-Walczak

Abstract

The paper presents a model assigning a bankruptcy probability to a company, developed on the basis of individual data from balance sheets and income statements of Polish companies in the 2001-2010 period. The research was based on a logistic regression performed on categorised variables transformed using a weight of evidence approach. In the forecasting model of a possible bankruptcy in a year's horizon the highest weight was assigned to the indicator for the ability to cover financial costs which explained the company's ability to meet the interest payments and capital costs. In the more generalised model which accounts for the macroeconomic situation the most important was the indicator for the ability to pay off debt. In the model forecasting bankruptcies three-years in advance - the early warning model - no dominant indicator was found.

Suggested Citation

  • Natalia Nehrebecka & Aneta Dzik-Walczak, 2016. "Construction measures of bankruptcy: case study of Polish enterprises," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 18(3/4), pages 420-444.
    • Handle: RePEc:ids:gbusec:v:18:y:2016:i:3/4:p:420-444
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    Citations

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    Cited by:

    1. Natalia Nehrebecka & Aneta Dzik-Walczak, 2018. "The dynamic model of partial adjustment of the capital structure: Meta-analysis and a case of Polish enterprises," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 36(1), pages 55-81.
    2. Natalia Nehrebecka, 2021. "Climate Risk with Particular Emphasis on the Relationship with Credit-Risk Assessment: What We Learn from Poland," Energies, MDPI, vol. 14(23), pages 1-14, December.
    3. Natalia Nehrebecka, 2018. "Sectoral risk assessment with particular emphasis on export enterprises in Poland," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 36(2), pages 677-700.

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