Development of instruments of financial diagnostics of crisis

Authors

  • Александр Александрович Баркар St. Petersburg State University of Economics and Finance, 21, Sadovaya ul., St. Petersburg, 191023, Russian Federation

DOI:

https://doi.org/10.21638/11701/spbu05.2017.408

Abstract

Despite positive trends in key macroeconomic indicators, the Russian economy remains sensitive to external and internal risks, and real incomes continue to diminish. As a result, the commercial real estate market, weakened during the last two years, is still far from stabilizing, indicating the need to improve instruments of crisis diagnostics. The goal of this paper is to develop models of crisis diagnostics for companies renting commercial real estate. To achieve this aim, we briefly review existing instruments, problems of their application, and improvements. The paper outlines in detail the stages of developing complex crisis diagnostics models with the use of methods of statistical classification of data, and we present results of the classification of economic entities in comparison with the foreign analogues.

Keywords:

crisis diagnostics, financial insolvency, discriminant analysis, logit-regression, forecasting

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Author Biography

Александр Александрович Баркар, St. Petersburg State University of Economics and Finance, 21, Sadovaya ul., St. Petersburg, 191023, Russian Federation

post-graduate student

References

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Translation of references in Russian into English

Agarwal V., Taffler R. Comparing the performance of market-based and accounting-based bankruptcy prediction models. Journal of Banking and Finance, 2008, vol. 32, no. 8, pp. 1541–1551.

Altman E. I. Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy. Journal of Finance, 1968, no. 23 (4), pp. 589–609.

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Barkar A. A. Ball’naia model’ antikrizisnoi diagnostiki predpriiatii, sdaiushchikh kommercheskuiu nedvizhimost’ v arendu [Scoring models of crisis diagnosis for companies renting commercial real estate]. Izv. S.-Peterb. gos. ekon. un-ta [News of St. Petersburg State University of Economics], 2016, no. 4, pp. 145–149. (In Russian)

Beaver W. Financial Ratios as Predictors of Failures. Journal of Accounting Research (supplement), 1966, no. 55 (3), pp. 272–283.

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Chesser D. Predicting loan noncompliance. The Journal of Commercial Bank Lending, 1974, August, pp. 28–38.

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Wood A. P. The performance of insolvency prediction and credit risk models in the UK: A comparative study, development and wider application: University of Exeter, 2012. 373 p.

Zmijewski M. E. Methodological Issues Related To the Estimation of Financial Distress Prediction Models. Journal of Accounting Research, 1984, vol. 22, pp. 59–82.

Published

2017-12-29

How to Cite

Баркар, А. А. (2017). Development of instruments of financial diagnostics of crisis. St Petersburg University Journal of Economic Studies, 33(4), 658–672. https://doi.org/10.21638/11701/spbu05.2017.408

Issue

Section

Economics of firms and industrial management