Special Issue "Bankruptcy Prediction"

A special issue of International Journal of Financial Studies (ISSN 2227-7072).

Deadline for manuscript submissions: 15 November 2018

Special Issue Editor

Guest Editor
Prof. Dr. Małgorzata Iwanicz-Drozdowska

Institute of Finance, Warsaw School of Economics, 02-554 Warsaw, Poland
Website | E-Mail
Interests: management of financial institutions; risk management; financial safety net; financial stability; financial education

Special Issue Information

Dear Colleagues,

I am pleased to invite you to submit your research to the special issue of “International Journal of Financial Studies” on bankruptcy prediction. In 1968 prof. Edward Altman from NYU-Stern published his world-wide known Z-Score methodology, which has been in use over last 50 years. Therefore, this is a great opportunity to present in the special issue various perspectives of bankruptcy prediction looking back at the history, as well as looking forward to identify new challenges. Recent years have brought a lot of studies on application of data mining and artificial intelligence techniques in bankruptcy prediction, however the traditional approaches, such as logistic regression still prove to be efficient. We invite papers presenting single- and cross-country studies, comparing different estimation techniques, analyzing bankruptcy prediction for various industries, including financial industry, or referring to the future challenges.

Prof. Dr. Małgorzata Iwanicz-Drozdowska
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. International Journal of Financial Studies is an international peer-reviewed open access quarterly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charges (APCs) of 350 CHF (Swiss Francs) per published paper are fully funded by institutions through the Knowledge Unlatched initiative, resulting in no direct charge to authors. Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Bankruptcy
  • Failure
  • Default
  • Financial distress
  • Estimation techniques

Published Papers (2 papers)

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Research

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Open AccessArticle Applications of Distress Prediction Models: What Have We Learned After 50 Years from the Z-Score Models?
Int. J. Financial Stud. 2018, 6(3), 70; https://doi.org/10.3390/ijfs6030070
Received: 31 May 2018 / Revised: 1 July 2018 / Accepted: 3 July 2018 / Published: 2 August 2018
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Abstract
Fifty years ago, I published the initial, classic version of the Z-score bankruptcy prediction models. This multivariate statistical model has remained perhaps the most well-known, and more importantly, most used technique for providing an early warning signal of firm financial distress by academics
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Fifty years ago, I published the initial, classic version of the Z-score bankruptcy prediction models. This multivariate statistical model has remained perhaps the most well-known, and more importantly, most used technique for providing an early warning signal of firm financial distress by academics and practitioners on a global basis. It also has been used by scholars as a benchmark of credit risk measurement in countless empirical studies. Practical applications of the Altman Z-score model have also been numerous and can be divided into two main categories: (1) from an external analytical standpoint, and (2) from an internal to the distressed firm viewpoint. This paper discusses a number of applications from the former’s standpoint and in doing so, we hope, also provides a roadmap for extensions beyond those already identified. Full article
(This article belongs to the Special Issue Bankruptcy Prediction)
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Review

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Open AccessFeature PaperReview Review of Research into Enterprise Bankruptcy Prediction in Selected Central and Eastern European Countries
Int. J. Financial Stud. 2018, 6(3), 60; https://doi.org/10.3390/ijfs6030060
Received: 17 April 2018 / Revised: 5 June 2018 / Accepted: 13 June 2018 / Published: 22 June 2018
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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
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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. Full article
(This article belongs to the Special Issue Bankruptcy Prediction)
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