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Int. J. Financial Stud. 2018, 6(3), 60; https://doi.org/10.3390/ijfs6030060

Review of Research into Enterprise Bankruptcy Prediction in Selected Central and Eastern European Countries

Faculty of Management and Economics, Gdańsk University of Technology, 80-233 Gdańsk, Poland
Received: 17 April 2018 / Revised: 5 June 2018 / Accepted: 13 June 2018 / Published: 22 June 2018
(This article belongs to the Special Issue Bankruptcy Prediction)
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Abstract

In developed countries, the first studies on forecasting bankruptcy date to the early 20th century. In Central and Eastern Europe, due to, among other factors, the geopolitical situation and the introduced economic system, this issue became the subject of researcher interest only in the 1990s. Therefore, it is worthwhile to analyze whether these countries conduct bankruptcy risk assessments and what their level of advancement is. The main objective of the article is the review and assessment of the level of advancement of bankruptcy prediction research in countries of the former Eastern Bloc, in comparison to the latest global research trends in this area. For this purpose, the method of analyzing scientific literature was applied. The publications chosen as the basis for the research were mainly based on information from the Google Scholar and ResearchGate databases during the period Q4 2016–Q3 2017. According to the author’s knowledge, this is the first such large-scale study involving the countries of the former Eastern Bloc—which includes the following states: Poland, Lithuania, Latvia, Estonia, Ukraine, Hungary, Russia, Slovakia, Czech Republic, Romania, Bulgaria, and Belarus. The results show that the most advanced research in this area is conducted in the Czech Republic, Poland, Slovakia, Estonia, Russia, and Hungary. Belarus Bulgaria and Latvia are on the other end. In the remaining countries, traditional approaches to predicting business insolvency are generally used. View Full-Text
Keywords: corporate bankruptcy prediction; bankruptcy risk; financial analysis; comparative analysis corporate bankruptcy prediction; bankruptcy risk; financial analysis; comparative analysis
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).
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Prusak, B. Review of Research into Enterprise Bankruptcy Prediction in Selected Central and Eastern European Countries. Int. J. Financial Stud. 2018, 6, 60.

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