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Cash flow in corporate bankruptcy. A literature review

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  • Dariusz Wędzki

Abstract

W artykule dokonano przeglądu literatury światowej i polskiej na temat wykorzystania wskaźników finansowych, bazujących na przepływach pieniężnych, do prognozowania upadłości przedsiębiorstwa. Dokonano przeglądu formuł wskaźników opartych na przepływach pieniężnych. Zaproponowano kierunki dalszych badań. Sformułowano również opinię, że bardzo mało eksplorowanym obszarem jest stosowanie tzw. analiz znaków w modelowaniu upadłości.

Suggested Citation

  • Dariusz Wędzki, 2008. "Cash flow in corporate bankruptcy. A literature review," Operations Research and Decisions, Wroclaw University of Science and Technology, Faculty of Management, vol. 18(2), pages 87-104.
    • Handle: RePEc:wut:journl:v:2:y:2008:p:87-104
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    References listed on IDEAS

    as
    1. Edward I. Altman, 1968. "The Prediction Of Corporate Bankruptcy: A Discriminant Analysis," Journal of Finance, American Finance Association, vol. 23(1), pages 193-194, March.
    2. Divesh Sharma & Errol Iselin, 2003. "The decision usefulness of reported cash flow and accrual information in a behavioural field experiment," Accounting and Business Research, Taylor & Francis Journals, vol. 33(2), pages 123-135.
    3. Casey, C & Bartczak, N, 1985. "Using Operating Cash Flow Data To Predict Financial Distress - Some Extensions," Journal of Accounting Research, Wiley Blackwell, vol. 23(1), pages 384-401.
    4. Laitinen, Erkki K. & Laitinen, Teija, 2000. "Bankruptcy prediction: Application of the Taylor's expansion in logistic regression," International Review of Financial Analysis, Elsevier, vol. 9(4), pages 327-349.
    5. Gentry, Ja & Newbold, P & Whitford, Dt, 1985. "Classifying Bankrupt Firms With Funds Flow Components," Journal of Accounting Research, Wiley Blackwell, vol. 23(1), pages 146-160.
    6. Dambolena, Ismael G & Khoury, Sarkis J, 1980. "Ratio Stability and Corporate Failure," Journal of Finance, American Finance Association, vol. 35(4), pages 1017-1026, September.
    7. Altman, Edward I. & Haldeman, Robert G. & Narayanan, P., 1977. "ZETATM analysis A new model to identify bankruptcy risk of corporations," Journal of Banking & Finance, Elsevier, vol. 1(1), pages 29-54, June.
    8. Rebecca L. Rosner, 2003. "Earnings Manipulation in Failing Firms," Contemporary Accounting Research, John Wiley & Sons, vol. 20(2), pages 361-408, June.
    9. Edward I. Altman, 1968. "Financial Ratios, Discriminant Analysis And The Prediction Of Corporate Bankruptcy," Journal of Finance, American Finance Association, vol. 23(4), pages 589-609, September.
    Full references (including those not matched with items on IDEAS)

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