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A ComprehensiveReview of CorporateBankruptcy Predictionin Hungary Tamás KristófMiklós Virág2020 год

A Comprehensive Review of Corporate Bankruptcy Prediction in Hungary
review

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Аннотация: The article provides a comprehensive review regarding the theoretical approaches, methodologies and empirical researches of corporate bankruptcy prediction, laying emphasis on the 30-year development history of Hungarian empirical results. In ex-socialist countries corporate bankruptcy prediction became possible more than 20 years later compared to the western countries, however, based on the historical development of corporate bankruptcy prediction after the political system change it can be argued that it has already caught up to the level of international best practice. Throughout the development history of Hungarian bankruptcy prediction, it can be tracked how the initial, small, cross-sectional sample and classic methodology-based bankruptcy prediction has evolved to today’s corporate rating systems meeting the requirements of the dynamic, through-the-cycle economic capital calculation models. Contemporary methodological development is characterized by the domination of artificial intelligence, data mining, machine learning, and hybrid modelling. On the basis of empirical results, the article draws several normative proposals how to assemble a bankruptcy prediction database and select the right classification method(s) to accomplish efficient corporate bankruptcy prediction.
Год издания: 2020
Авторы: Tamás Kristóf, Miklós Virág
Издательство: Multidisciplinary Digital Publishing Institute
Источник: Journal of risk and financial management
Ключевые слова: Financial Distress and Bankruptcy Prediction, Credit Risk and Financial Regulations, Corporate Finance and Governance
Другие ссылки: Journal of risk and financial management (PDF)
Journal of risk and financial management (HTML)
DOAJ (DOAJ: Directory of Open Access Journals) (HTML)
RePEc: Research Papers in Economics (HTML)