Manipulace zisku a vypovídací schopnost Altmanova modelu.
| Title in English | Manipulation of Profit and its Influence to the Testimony Ability of the Altman Model. |
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| Authors | |
| Year of publication | 2004 |
| Type | Article in Proceedings |
| Conference | Acta Oeconomica Cassoviensia, No 8 |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | Z-function;testimony ability; credibility;profit manipulation; first derivative; two versions of Z-function; stadardization of finantial management of the firm in CR |
| Description | The contribution is dedicated to a problem of development of Altman model (Z-function, Z-score, etc.) into its two variants, which are called as variant Inc. and variant Ltd.. The article is returning in a certain manner to original resources of philosophy of creation and application of this bankruptcy/value model, that is still regard as actual. We will attend to universal connections of development of Altman model in a country of its origin and in relation to a eventual manipulation of input data of the Z-function. The article is interested in real consequences of Z-function development in relation to the aim of contribution - the manipulation of company economic result (explicitly EBIT) to better values (technique window dressing). The results of the contribution in principle unambiguously demonstrate, that variant Ltd. of Altmans model is less sensitive to manipulation of profit then the original Z-function (variant Inc.). |
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