Failure Models for Insolvency and Bankruptcy

Piotr Staszkiewicz and Bartosz Witkowski

A chapter in Contemporary Trends and Challenges in Finance, 2018, pp 219-225 from Springer

Abstract: Abstract This working paper discusses the problem of mutual use the insolvency and bankruptcy variable for business failure modeling. The research shows how the terms bankruptcy and insolvency modeling on the unformal dataset might result in different fits of the models. Models were estimated based on 17,024 firm’s yearly observations from the 2004 to 2014 for the Polish financial market. Following priory research, the models were developed with application of the logit regression. The evidence gathered during the study supports the conclusion that the use of the legal definition of insolvency is a weak instrument for bankruptcy modeling.

Keywords: Bankruptcy Model; Insolvency Model; Business Failure Modeling; Major Polish Cities; Credit Rating Model (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-76228-9_21

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DOI: 10.1007/978-3-319-76228-9_21

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