[DOWNLOAD] "Financial Distress of Companies in Poland." by International Advances in Economic Research # eBook PDF Kindle ePub Free
eBook details
- Title: Financial Distress of Companies in Poland.
- Author : International Advances in Economic Research
- Release Date : January 01, 2004
- Genre: Business & Personal Finance,Books,
- Pages : * pages
- Size : 246 KB
Description
Abstract The study examines main determinants of financial distress of companies in Poland during the recent transformation period. Data compose a sample of 1995-97 annual financial statements of 200 unlisted companies in Poland. Degree of financial distress is expressed either by the binomial variable or by the trinomial ordered variable. The attempted models (binomial and trinomial logit) explain the distress variable for 1997 by the financial indicators evaluated on the basis of financial statements from previous years. The results are sensitive to the choice of explanatory variables in the models. The forecast accuracy of the estimated models lies in the range of 80-90 percent. In the second half of the 1990's, the financial condition of companies in Poland was determined by the degree of liquidity, profitability, and the financial leverage variables. (JEL C25, G33)
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