Elena Lancosova – Masaryk Univesity, Faculty of Economics and Administration, Lipová 41a, 602 00 Brno-střed, Czech Republic


DOI: https://doi.org/10.31410/ITEMA.S.P.2019.53


3rd International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2019 – Bratislava, Slovakia, October 24, 2019, SELECTED PAPERS published by the Association of Economists and Managers of the Balkans, Belgrade; Printed by: SKRIPTA International, Belgrade, ISBN 978-86-80194-24-0, ISSN 2683-5991, DOI: https://doi.org/10.31410/ITEMA.S.P.2019




This paper aims to assess importance of widely used bankruptcy discriminants in dynamic,
time dependent environment as opposed to more traditional, static methods used in bankruptcy models.
Such setting gives way to new, process oriented, point of view on companies nearing their bankrupt.
Subsequently, new simple discriminants with stronger relationship to bankruptcy are proposed while
strictly using only widely available information from accounting statements. Behaviour of both proposed
and traditional discriminants is examined through kernel smoothing and discriminant’s evolution before
bankruptcy and thus the reasons behind their respective predictive powers are uncovered.



Survival Analysis, Time Dependent, Dynamic, Assets, Equity, Sales, Change from Previous
Period, Kernel Smoothing, Accounting Statement.


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