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Modeling of Polish Enterprises Insolvency Processes with the Use of Gorbatov Characterization Principle - Research Results

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  • Prokopowicz Tomasz

    (Faculty of Management, Warsaw University of Technology, 02-524 Warszawa, Poland)

  • Krupa Tadeusz

    (Faculty of Management, Warsaw University of Technology, 02-524 Warszawa, Poland)

Abstract

Economical activities of enterprises should be based on such managerial decisions that assure quick and effective adjustment of the company to the changes that appear in the market. Enterprises, which are not able to use their opportunities and avoid threats, are bound to face the thread of insolvency. Effects of the insolvency are felt not only by the enterprise, but also by its creditors. Therefore, it is necessary to elaborate a warning system that will beforehand allow diagnosing the condition of the enterprise and setting necessary directions for the company to avoid insolvency. The article presents research results on the use of characterization theory in the creation of insolvency threat evaluation model based on Polish enterprises.

Suggested Citation

  • Prokopowicz Tomasz & Krupa Tadeusz, 2010. "Modeling of Polish Enterprises Insolvency Processes with the Use of Gorbatov Characterization Principle - Research Results," Foundations of Management, Sciendo, vol. 2(1), pages 71-98, January.
    • Handle: RePEc:vrs:founma:v:2:y:2010:i:1:p:71-98:n:5
    DOI: 10.2478/v10238-012-0022-y
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    References listed on IDEAS

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    1. Balcaen S. & Ooghe H., 2004. "Alternative methodologies in studies on business failure: do they produce better results than the classic statistical methods?," Vlerick Leuven Gent Management School Working Paper Series 2004-16, Vlerick Leuven Gent Management School.
    2. White, Michelle J, 1989. "The Corporate Bankruptcy Decision," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 129-151, Spring.
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