Author dc.contributor.author | Judit Sági | |
Author dc.contributor.author | Nick Chandler | |
Author dc.contributor.author | Csaba Lentner | |
Availability Date dc.date.accessioned | 2023-04-14T08:50:01Z | |
Availability Date dc.date.available | 2023-04-14T08:50:01Z | |
Release dc.date.issued | 2020 | |
Issn dc.identifier.issn | 1810-5467 | |
Issn dc.identifier.issn | 1727-7051 | |
uri dc.identifier.uri | http://hdl.handle.net/20.500.12944/20386 | |
Abstract dc.description.abstract | The aim of this study is to examine how bankruptcy prediction models forecast financial strength for family businesses. Three predictive tests are used to study financial strength for three consecutive years (2016, 2017 and 2018) for a sample of 462,200 active Hungarian companies using the Amadeus database and expert data. Complex statistical model tests for credit assessment (bankruptcy predictions) are performed by size and ownership of the companies. It is found that the revised Altman model is impeded by a superfluous high weighting on net working capital, therefore, IN05 Quick Test predicted better chances for businesses in generating cash flows in a small emerging economy. By re-formulating the Bankruptcy Index of Karas and Režňáková and refining its coefficients, the modified Bankruptcy Index is more robust for predicting the financial health of family businesses on a cash flow basis. The test results of this modified Bankruptcy Index confirm the relative advance of family businesses in creating added value for owners. Practical implications arise from a management perspective: family businesses work better with predictability of survival in accordance with the model, therefore, their ability to adapt to financial constraints caused by crises is also more promising. | |
Language dc.language | en | |
Keywords dc.subject | capital structure | |
Keywords dc.subject | bankruptcy | |
Keywords dc.subject | predictive tests | |
Keywords dc.subject | financial sustainability | |
Keywords dc.subject | revised Altman Z-score | |
Title dc.title | Family businesses and predictability of financial strength: a Hungarian study | |
Type dc.type | folyóiratcikk | |
Date Change dc.date.updated | 2023-04-06T13:07:36Z | |
Version dc.description.version | accepted | |
dc.rights.accessRights | nyílt hozzáférésű | |
Doi ID dc.identifier.doi | 10.21511/ppm.18%282%29.2020.39 | |
Discipline Discipline + dc.subject.discipline | Társadalomtudományok | |
dc.subject.sciencebranch | Közgazdaságtudományok | |
MTMT ID dc.identifier.mtmt | 31371571 | |
dc.identifier.journalTitle | Problems and Perspectives in Management | |
dc.identifier.journalVolume | 18 | |
dc.identifier.journalIssueNumber | 2 | |
Scope dc.format.page | 476-489 | |
ID Scopus dc.identifier.scopus | 85090636253 | |
dc.identifier.journalAbbreviatedTitle | PROBLEMS AND PERSPECTIVES IN MANAGEMENT | |
Release Date dc.description.issuedate | 2020 | |
Author institution dc.contributor.department | Pénzügy Tanszék | |
Author institution dc.contributor.department | Menedzsment Tanszék | |
Author institution dc.contributor.department | Kormányzástani és Közpolitikai Tanszék | |
Author institution dc.contributor.department | Gazdálkodás- és Szervezéstudományok Doktori Iskola | |
Author institution dc.contributor.department | Pénzügyi és Gazdálkodási Szaknyelvek Tanszék | |
Author institution dc.contributor.department | Wekerle Sándor Üzleti Főiskola | |
Author institution dc.contributor.department | Civilisztikai és Nemzetgazdasági Intézet | |
Author institution dc.contributor.department | Pannon Egyetem | |
Author institution dc.contributor.department | Gazdaságtudományi Kar | |
Author institution dc.contributor.department | Kaposvári Campus Gazdaságtudományi Kar Kaposvár |