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标题：THE RATIO ANALYSIS OF FINANCIAL BALANCE AND BANKRUPTCY RISK OF THE SILESIAN COMPANIES IN TIME OF THE GLOBAL FINANCIAL CRISIS
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作者：Joanna Błach ; Joanna Błach ; Monika Wieczorek-Kosmala 等
期刊名称：Equilibrium. Quarterly Journal of Economics and Economic Policy
印刷版ISSN：1689-765X
电子版ISSN：2353-3293
出版年度：2012
卷号：7
期号：3
页码：111-126
DOI：10.12775/EQUIL.2012.022
语种：English
出版社：Institute of Economic Research
摘要：The financial crisis undoubtedly exerted much pressure on the companies operating in Poland. Thus, it is important to undertake researches that reveal the paths and strength of financial crisis transmission with regard to the business enti ties. This paper presents partial results of the research dedicated to the analysis of the impact of financial crisis on the financial situation of companies operating in the Silesian Voivodship. It analyzes and discusses the general changes of the two sets of financial ratios that inform about the general financial condition of the business: the financial balance and the level of bankruptcy risk. The paper aims at analyzing the changes of the financial situation and bankruptcy risk of a population of Silesian companies with regard to the improvement or deterioration. In particular, it aims at reflecting the differences visible with the application of aggregated data character_x005f?izing the population of Silesian companies as compared to the population of all companies operating in Poland. The study is based the application of a part of au?thors’ self-developed method – the CFS Watch, which consists of five analytical modules. In the study, two modules are applied: the GPA Module (General Perfor?mance Assessment) with regard to financial balance and the MDA Module (Multi?discriminant Analysis) with regard to the bankruptcy risk. Grounded on the theory of financial analysis and its application for corporate finance purposes, the modules are based on the selected financial ratios that are a subject for further comparison regarding their height and dynamics of changes. The analytical modules are applied for aggregated data provided by the Polish Central Statistical Office.
关键词：financial analysis; financial balance; bankruptcy risk; multidiscriminant analysis; financial crisis