An application of the Z-Score
Autor(a) principal: | |
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Data de Publicação: | 2016 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Revista Ciências Administrativas (Fortaleza. Online) |
Texto Completo: | https://ojs.unifor.br/rca/article/view/4439 |
Resumo: | The purpose of this study is to apply the Z-score methodology to a company in the Portuguese metallurgical sector operating in a structural crisis environment which had an impact on this sector and its organization. Thus, we gathered the financial statements of the company, from 2008 to 2012, and collected the essential data to apply the model. Simultaneously, we analysed the company’s strategy reflected on the plans and forward programs from 2012 to 2015. When we obtained and analysed the Z-score indicators related to the history of the company, we immediately noticed its serious deterioration. However, the administration of the unit, based on the strategy of diversification and reduction of costs, always thought it favorable to continue with the company. The turnaround strategy initiated and supported by prospective financial information, based on credible assumptions, clearly indicates that the Z-score indicators recover alongside with the implementation of this strategic line. The conclusions obtained indicate the importance of the strategy in the going concern, which is evident in the quantification provided by the model. Keywords: Strategy. Going concern. Z-score. Budgets. Forecasts. |
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An application of the Z-ScoreUma aplicação do Z-Score (An application of the Z-Score)The purpose of this study is to apply the Z-score methodology to a company in the Portuguese metallurgical sector operating in a structural crisis environment which had an impact on this sector and its organization. Thus, we gathered the financial statements of the company, from 2008 to 2012, and collected the essential data to apply the model. Simultaneously, we analysed the company’s strategy reflected on the plans and forward programs from 2012 to 2015. When we obtained and analysed the Z-score indicators related to the history of the company, we immediately noticed its serious deterioration. However, the administration of the unit, based on the strategy of diversification and reduction of costs, always thought it favorable to continue with the company. The turnaround strategy initiated and supported by prospective financial information, based on credible assumptions, clearly indicates that the Z-score indicators recover alongside with the implementation of this strategic line. The conclusions obtained indicate the importance of the strategy in the going concern, which is evident in the quantification provided by the model. Keywords: Strategy. Going concern. Z-score. Budgets. Forecasts.O propósito deste estudo é aplicar a metodologia do Z-score a uma empresa do setor metalúrgico português que opera em um ambiente generalizado de crise estrutural, o que acabou por repercutir no setor e na organização. Coligimos as demonstrações financeiras da empresa, desde 2008 até 2012, tendo coletado os dados indispensáveis à aplicação do modelo. Em simultâneo, procedemos à análise da estratégia da empresa refletida nos planos e programas previsionais de 2012 a 2015. Obtidos e analisados os indicadores do Z-score relacionados com a história da empresa, imediatamente constatamos a sua profunda degradação. No entanto, a administração da unidade, apoiada em uma estratégia de diversificação e redução de custos, sempre julgou favoravelmente a continuidade da empresa. A estratégia de turnaround encetada e apoiada em informação financeira prospectiva, baseada em pressupostos credíveis, evidencia que os indicadores do Z-score recuperavam à medida que a linha estratégica formulada ia sendo implementada. A conclusão obtida aponta para a importância da estratégia no going concern, situação que é evidenciada na quantificação proporcionada pelo modelo. DOI: 10.5020/2318-0722.2016.v22n1p11Universidade de Fortaleza2016-03-28info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/xmlhttps://ojs.unifor.br/rca/article/view/443910.5020/2318-0722.2016.v22n1p11Revista Ciências Administrativas; v. 22 n. 1 (2016); 112318-0722reponame:Revista Ciências Administrativas (Fortaleza. Online)instname:Universidade de Fortaleza (UNIFOR)instacron:UNIFORporhttps://ojs.unifor.br/rca/article/view/4439/pdfhttps://ojs.unifor.br/rca/article/view/4439/xmlAlmeida, Bruno José Machado deCarvalho, Pedro Miguel TorresAlmeida, José Joaquim Marques deinfo:eu-repo/semantics/openAccess2020-04-02T17:56:02Zoai:ojs.ojs.unifor.br:article/4439Revistahttps://periodicos.unifor.br/rcahttp://ojs.unifor.br/index.php/rca/oai||revcca@unifor.br|| sergioforte@unifor.br2318-07221414-0896opendoar:2020-04-02T17:56:02Revista Ciências Administrativas (Fortaleza. Online) - Universidade de Fortaleza (UNIFOR)false |
dc.title.none.fl_str_mv |
An application of the Z-Score Uma aplicação do Z-Score (An application of the Z-Score) |
title |
An application of the Z-Score |
spellingShingle |
An application of the Z-Score Almeida, Bruno José Machado de |
title_short |
An application of the Z-Score |
title_full |
An application of the Z-Score |
title_fullStr |
An application of the Z-Score |
title_full_unstemmed |
An application of the Z-Score |
title_sort |
An application of the Z-Score |
author |
Almeida, Bruno José Machado de |
author_facet |
Almeida, Bruno José Machado de Carvalho, Pedro Miguel Torres Almeida, José Joaquim Marques de |
author_role |
author |
author2 |
Carvalho, Pedro Miguel Torres Almeida, José Joaquim Marques de |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Almeida, Bruno José Machado de Carvalho, Pedro Miguel Torres Almeida, José Joaquim Marques de |
description |
The purpose of this study is to apply the Z-score methodology to a company in the Portuguese metallurgical sector operating in a structural crisis environment which had an impact on this sector and its organization. Thus, we gathered the financial statements of the company, from 2008 to 2012, and collected the essential data to apply the model. Simultaneously, we analysed the company’s strategy reflected on the plans and forward programs from 2012 to 2015. When we obtained and analysed the Z-score indicators related to the history of the company, we immediately noticed its serious deterioration. However, the administration of the unit, based on the strategy of diversification and reduction of costs, always thought it favorable to continue with the company. The turnaround strategy initiated and supported by prospective financial information, based on credible assumptions, clearly indicates that the Z-score indicators recover alongside with the implementation of this strategic line. The conclusions obtained indicate the importance of the strategy in the going concern, which is evident in the quantification provided by the model. Keywords: Strategy. Going concern. Z-score. Budgets. Forecasts. |
publishDate |
2016 |
dc.date.none.fl_str_mv |
2016-03-28 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://ojs.unifor.br/rca/article/view/4439 10.5020/2318-0722.2016.v22n1p11 |
url |
https://ojs.unifor.br/rca/article/view/4439 |
identifier_str_mv |
10.5020/2318-0722.2016.v22n1p11 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://ojs.unifor.br/rca/article/view/4439/pdf https://ojs.unifor.br/rca/article/view/4439/xml |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf application/xml |
dc.publisher.none.fl_str_mv |
Universidade de Fortaleza |
publisher.none.fl_str_mv |
Universidade de Fortaleza |
dc.source.none.fl_str_mv |
Revista Ciências Administrativas; v. 22 n. 1 (2016); 11 2318-0722 reponame:Revista Ciências Administrativas (Fortaleza. Online) instname:Universidade de Fortaleza (UNIFOR) instacron:UNIFOR |
instname_str |
Universidade de Fortaleza (UNIFOR) |
instacron_str |
UNIFOR |
institution |
UNIFOR |
reponame_str |
Revista Ciências Administrativas (Fortaleza. Online) |
collection |
Revista Ciências Administrativas (Fortaleza. Online) |
repository.name.fl_str_mv |
Revista Ciências Administrativas (Fortaleza. Online) - Universidade de Fortaleza (UNIFOR) |
repository.mail.fl_str_mv |
||revcca@unifor.br|| sergioforte@unifor.br |
_version_ |
1788165807981723648 |