Z-Score for Bankruptcy Forecasting of the Companies Producing Building Materials

  •  R. A. Burganova    
  •  M. F. Salahieva    


The article is dedicated to developing of methodological basis for the probability of enterprises’ bankruptcyforecasting. The authors have identified the reasons of the existing bankruptcy forecasting models failure, thenecessity of models developing for companies in various industries on the basis of the existing instruments. As aresult of the multivariate discriminate analysis we offer Z-scores based on the average annual rates of change andtaking into account the peculiarities of the industry companies. The model is developed for companiesspecializing in the production of building materials, it has a high level of productivity - 90.4%.

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