Authors: N. Baltes, ORCID ID 0000000275466978, PhD, Department of Finance, Lucian Blaga University of Sibiu, Sibiu, Romania
A.-G.-M. Dragoe, ORCID ID 0000000291382678, PhD, Department of Finance, Lucian Blaga University of Sibiu, Sibiu, Romania
M.-D. Cozma, ORCID ID 0000000182426483, PhD, Lucian Blaga University of Sibiu, Sibiu, Romania
Abstract: The paper presents both theoretically and empirically the insolvency risk for 35 companies from the manufacturing industry in Romania, listed on the Bucharest Stock Exchange, at premium and standard categories, during 2007-2016, through four models: Springate, Taffler, Altman, and French Commercial Credit. The results of the research have revealed that during the period 2007- 2016, over 50% of the companies were facing a high insolvency risk, the most risky of them being Cemacon S.A. and Prefab S.A. The less risky companies during the mentioned period of time were Aerostar S.A. and Conted S.A.
Key words: insolvency risk, Springate model, Taffler model, Altman model, French Commercial Credit model
Received: 17/05/2018
1st Revision: 26/08/2018
Accepted: 20/09/2018
DOI: https://doi.org/10.17721/1728-2667.2018/201-6/5
References
The paper presents both theoretically and empirically the insolvency risk for 35 companies from the manufacturing industry in Romania, listed on the Bucharest Stock Exchange, at premium and standard categories, during 2007-2016, through four models: Springate, Taffler, Altman, and French Commercial Credit. The results of the research have revealed that during the period 2007- 2016, over 50% of the companies were facing a high insolvency risk, the most risky of them being Cemacon S.A. and Prefab S.A. The less risky companies during the mentioned period of time were Aerostar S.A. and Conted S.A.
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