NDLI: Financial distress of companies in Poland

Content Provider	Springer Nature Link
Author	Gruszczynski, Marek
Copyright Year	2004
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.
Starting Page	249
Ending Page	256
Page Count	8
File Format	PDF
ISSN	10830898
Journal	International Advances in Economic Research
Volume Number	10
Issue Number	4
e-ISSN	1573966X
Language	English
Publisher	Kluwer Academic Publishers
Publisher Date	2004-01-01
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Economics general Economic Growth International Economics Macroeconomics/Monetary Economics Microeconomics
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

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Financial distress of companies in Poland