Predicting successful "PER" reorganizations: Testing the applicability of Altman Z-Score on Portuguese companies
Autor(a) principal: | |
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Data de Publicação: | 2017 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10071/15954 |
Resumo: | The main objective of this dissertation is to test the applicability of Altman's bankruptcy prediction model of private companies in differentiating between companies that enter into “PER” and are successful in having an approved recovery plan and those that are unsuccessful. For this, the universe of companies that entered “PER” between May 2012 and December 2016 was collected, which translated into a viable sample of work consisting of 2,189 companies. The conclusions obtained allow us to state that when applied to the selected sample, the Altman model for private companies, in its initial formulation does not allow a proper distinction between the two groups of companies identified. Through the re-estimation of the Altman model, it was possible to obtain models that achieved results that were more positive. However, it is not possible to state that the model could robustly differentiate between companies with an approved plan and those without a plan approved without a significant error margin. |
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Predicting successful "PER" reorganizations: Testing the applicability of Altman Z-Score on Portuguese companiesAltman Z-scoreRecovery planFailureInsolvencyFalênciaEmpresa privadaRecuperação de empresasPlano de recuperaçãoInsolvênciaProjeto especial de revitalização (PER)The main objective of this dissertation is to test the applicability of Altman's bankruptcy prediction model of private companies in differentiating between companies that enter into “PER” and are successful in having an approved recovery plan and those that are unsuccessful. For this, the universe of companies that entered “PER” between May 2012 and December 2016 was collected, which translated into a viable sample of work consisting of 2,189 companies. The conclusions obtained allow us to state that when applied to the selected sample, the Altman model for private companies, in its initial formulation does not allow a proper distinction between the two groups of companies identified. Through the re-estimation of the Altman model, it was possible to obtain models that achieved results that were more positive. However, it is not possible to state that the model could robustly differentiate between companies with an approved plan and those without a plan approved without a significant error margin.A presente dissertação tem como principal objectivo testar a aplicabilidade do modelo de previsão de falências de Altman para empresas privadas na diferenciação entre as empresas que entram em “PER” e conseguem obter um plano de recuperação aprovado e aquelas que não o conseguem. Para tal, foi recolhido o universo de empresas que entraram em “PER” entre Maio de 2012 e Dezembro de 2016, no que se traduziu numa amostra viável de trabalho constituída por 2,189 empresas. As conclusões obtidas permitem afirmar que quando aplicado à amostra seleccionada, o modelo de Altman para empresas privadas, na sua formulação inicial, não permite distinguir correctamente entre os dois grupos de empresas identificados. Através da re-estimação dos coeficientes do modelo de Altman, foi possível obter modelos que obtivessem melhores resultados sem, no entanto, se poder afirmar que se obteve um modelo que cumprisse robustamente com o objectivo proposto de diferenciação entre empresas com plano aprovado e sem plano aprovado.2018-06-04T14:54:40Z2019-06-04T00:00:00Z2017-11-27T00:00:00Z2017-11-272017-10-31info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfapplication/octet-streamhttp://hdl.handle.net/10071/15954TID:201769123engCarlos, Luís Miguel Gonçalves Oliveira Palmainfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T17:40:24Zoai:repositorio.iscte-iul.pt:10071/15954Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:18:42.174444Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Predicting successful "PER" reorganizations: Testing the applicability of Altman Z-Score on Portuguese companies |
title |
Predicting successful "PER" reorganizations: Testing the applicability of Altman Z-Score on Portuguese companies |
spellingShingle |
Predicting successful "PER" reorganizations: Testing the applicability of Altman Z-Score on Portuguese companies Carlos, Luís Miguel Gonçalves Oliveira Palma Altman Z-score Recovery plan Failure Insolvency Falência Empresa privada Recuperação de empresas Plano de recuperação Insolvência Projeto especial de revitalização (PER) |
title_short |
Predicting successful "PER" reorganizations: Testing the applicability of Altman Z-Score on Portuguese companies |
title_full |
Predicting successful "PER" reorganizations: Testing the applicability of Altman Z-Score on Portuguese companies |
title_fullStr |
Predicting successful "PER" reorganizations: Testing the applicability of Altman Z-Score on Portuguese companies |
title_full_unstemmed |
Predicting successful "PER" reorganizations: Testing the applicability of Altman Z-Score on Portuguese companies |
title_sort |
Predicting successful "PER" reorganizations: Testing the applicability of Altman Z-Score on Portuguese companies |
author |
Carlos, Luís Miguel Gonçalves Oliveira Palma |
author_facet |
Carlos, Luís Miguel Gonçalves Oliveira Palma |
author_role |
author |
dc.contributor.author.fl_str_mv |
Carlos, Luís Miguel Gonçalves Oliveira Palma |
dc.subject.por.fl_str_mv |
Altman Z-score Recovery plan Failure Insolvency Falência Empresa privada Recuperação de empresas Plano de recuperação Insolvência Projeto especial de revitalização (PER) |
topic |
Altman Z-score Recovery plan Failure Insolvency Falência Empresa privada Recuperação de empresas Plano de recuperação Insolvência Projeto especial de revitalização (PER) |
description |
The main objective of this dissertation is to test the applicability of Altman's bankruptcy prediction model of private companies in differentiating between companies that enter into “PER” and are successful in having an approved recovery plan and those that are unsuccessful. For this, the universe of companies that entered “PER” between May 2012 and December 2016 was collected, which translated into a viable sample of work consisting of 2,189 companies. The conclusions obtained allow us to state that when applied to the selected sample, the Altman model for private companies, in its initial formulation does not allow a proper distinction between the two groups of companies identified. Through the re-estimation of the Altman model, it was possible to obtain models that achieved results that were more positive. However, it is not possible to state that the model could robustly differentiate between companies with an approved plan and those without a plan approved without a significant error margin. |
publishDate |
2017 |
dc.date.none.fl_str_mv |
2017-11-27T00:00:00Z 2017-11-27 2017-10-31 2018-06-04T14:54:40Z 2019-06-04T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10071/15954 TID:201769123 |
url |
http://hdl.handle.net/10071/15954 |
identifier_str_mv |
TID:201769123 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
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openAccess |
dc.format.none.fl_str_mv |
application/pdf application/octet-stream |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799134746325811200 |