| Abstract [eng] |
This Master thesis develops survival of company prediction Cox proportional hazards model using the statistical methodology of Survival analysis. In the first part the short review of literature about models related with company’s bankruptcy, failure or financial distress is presented. Also the background of financial statement analysis, corporate finance, various financial variables (company’s profit/loss, liabilities, asset and other) and financial ratios (debt ratio, total asset turnover and other) are clarified. Furthermore, the theoretical background of Survival analysis and Cox proportional hazards model are presented. In the following part empirical computations are introduced. There are selected financial variables and financial ratios, which influence company’s survival and are statistically significant. Moreover, Cox regression model for estimating the probability of company’s survival after particular time is presented. Econometric analysis is performed using SPSS, MS Excel and SAS software. |
