ANALYSIS OF THE CORPORATE FINANCIAL SOUNDNESS OF COMPANIES USING THE BANKRUPTCY FORECASTING MODELS
Abstract and keywords
Abstract (English):
Th is article is devoted to the study of the fi nancial stability of companies based on a number bankruptcy forecasting models. Th e authors analyzed fi nancial statements of 22 Russian and foreign retail companies that fi led for bankruptcy in the last fi ve years using the following bankruptcy models. Th e article provides a comparative analysis of bankruptcy models in order to identify the model that most accurately predicts the onset of bankruptcy.

Keywords:
financial stability, financial sustainability, financial soundness, liquidity, bankruptcy forecasting models, transnational corporations, international companies
References

1. Godovoy otchet 10-K, TOYS “R” US, INC, 2017.

2. Godovoy otchet 10-K, SEARS HOLDINGS CORPORATION, 2017.

3. Retail Downsizing Will Accelerate, With UBS Predicting 75,000 Stores Will Be Forced To Close By 2026 [Elektronnyy resurs]. URL: https://www.forbes.com/sites/pamdanziger/2019/04/10/retail-downsizing-will-accelerate-as-75000-stores-will-be-forced-to-close-by-2026/#738f28a7339e (accessed: 22.11.2019).

4. Kiron D., Unruh G., Kruschwitz N., Reeves M., Rubel H., Zum Felde A.M. 2017. Corporate Sustainability at a Crossroads: Progress toward Our Common Future in Uncertain Times. MIT Sloan Management Review. 28 p.

5. Corporate responsibility & sustainability report 2014. Airbus Group. 2015. 76 p. URL: https://www.airbus.com/content/dam/corporate-topics/financial-and-company-information/airbus-group-crs-2014.pdf (accessed: 22.11.2019).

6. Bernstein L. 2014. Financial statement analysis: theory, application and interpretation. Homewood, Illinois: Irwin. 1075 p.

7. Robinson T., Henry E., Pirie W., Broihahn M. 2015. International financial statement analysis, third edition. Hoboken, New Jersey: John Wiley & Sons, Inc. 1072 p.

8. Puchkova S.I. 2015. Ob'edinenie biznesa i konsolidirovannaya finansovaya otchetnost' v usloviyah perehoda na MSFO. Buhgalterskiy uchet. №5. S. 26-29.

9. Puchkova S.I., Sotneva Yu.D. 2016. Vliyanie perehoda na MSFO na finasovuyu ustoychivost' mezhdunarodnyh kompaniy. Audit. №6. S. 25-28.

10. Puchkova S.I., Sotneva Yu.D. 2018. Finansovaya ustoychivost' kompaniy v usloviyah perehoda k innovacionnoy ekonomike. Audit. № 11. S. 34-38.

11. Sotneva Yu.D. 2015. Pokazateli finansovoy ustoychivosti kompaniy: rossiyskaya i mezhdunarodnaya teoriya i praktika. Audit. №9. S. 19-22.

12. Sheremet A.D. 2018. Analiz i diagnostika finansovo-hozyaystvennoy deyatel'nosti predpriyatiya: uchebnik - 2-e izd., dop. M.: INFRA-M. 374 s.

13. Altman E.I. 1968. Financial Ratios, Discriminant Analysis And The Prediction Of Corporate Bankruptcy. Journal of Finance. Vol.23. No.4. September. P. 589-609. DOI:https://doi.org/10.1111/j.1540-6261.1968.tb00843.x

14. Altman E.I. 2000. Predicting financial distress of companies: revisiting the Z-score and ZETA models. New York: New York University. 36 p.

15. Mohammadi S. 2016. Studying the Efficiency and the Power of Predicting Bankruptcy of Firms Listed on the Stock Exchange using Springate, Fulmer, and Zavgren Models. Mediterranean Journal of Social Sciences. Vol. 7, No. 4. P. 124-130. DOI:https://doi.org/10.5901/mjss.2016.v7n4s2p124

16. Davydova G.V., Belikov A.Yu. 1999. Metodika kolichestvennoy ocenki riska bankrotstva predpriyatiy. Upravlenie riskom. N 3. S. 13-20.

17. Gavrilova S.S. 2011. Analiz veroyatnosti bankrotstva (otechestvennye metodiki). SPb.: SPBGUEF. 40 s.

18. Zayceva O.P. 1998. Antikrizisnyy menedzhment v rossiyskoy kompanii. Sibirskaya finansovaya shkola. №11-12 (28-29). S. 66-73.

Login or Create
* Forgot password?