Department of Economics, Faculty of Operation and Economics of Transport and Communications, University of Zilina, Univerzitna 8215/1, Zilina, 010 26, Slovak Republic.
Sci Eng Ethics. 2018 Apr;24(2):791-803. doi: 10.1007/s11948-017-9912-4. Epub 2017 Apr 10.
Every corporation has an economic and moral responsibility to its stockholders to perform well financially. However, the number of bankruptcies in Slovakia has been growing for several years without an apparent macroeconomic cause. To prevent a rapid denigration and to prevent the outflow of foreign capital, various efforts are being zealously implemented. Robust analysis using conventional bankruptcy prediction tools revealed that the existing models are adaptable to local conditions, particularly local legislation. Furthermore, it was confirmed that most of these outdated tools have sufficient capability to warn of impending financial problems several years in advance. A novel bankruptcy prediction tool that outperforms the conventional models was developed. However, it is increasingly challenging to predict bankruptcy risk as corporations have become more global and more complex and as they have developed sophisticated schemes to hide their actual situations under the guise of "optimization" for tax authorities. Nevertheless, scepticism remains because economic engineers have established bankruptcy as a strategy to limit the liability resulting from court-imposed penalties.
每家公司都对其股东负有经济和道德责任，必须在财务上表现良好。然而，斯洛伐克的破产数量多年来一直在增长，没有明显的宏观经济原因。为了防止迅速恶化和防止外资外流，正在积极实施各种努力。使用传统破产预测工具进行的稳健分析表明，现有模型适应当地条件，特别是当地立法。此外，还证实了这些过时工具中的大多数都有足够的能力提前几年警告即将出现的财务问题。开发了一种新颖的破产预测工具，其表现优于传统模型。然而，随着公司变得更加全球化和复杂，并且制定了复杂的计划，以“优化”的幌子来掩盖其对税务机关的实际情况，预测破产风险变得越来越具有挑战性。尽管如此，人们仍然持怀疑态度，因为经济工程师已经将破产作为一种策略，以限制因法院判决而产生的责任。
