Próba weryfikacji wiarygodności diagnostycznej metod oceny kondycji finansowej firmy (w świetle krajowej literatury przedmiotu)
An attempt to verify diagnostic reliability of methods evaluating financial condition of a firm (in the light of domestic reference books)

Summary/Abstract: A one-sided growth of interest in financial analysis methods, as observed in the Polish reference books since the 1990s, has not led to the creation of any original and reliable methods evaluating the financial condition of enterprises, and the only result of such an interest is an excessive fascination with methods formulated some decades ago, in incomparable economic conditions, and application of financial analysis methods from the viewpoint of their mathematical or statistical refinement, omitting the evaluation of their applicability extent (especially concerning the branch specificity of an analysed firm), and reliability of the obtained empirical results. The paper highlights some cases, unfortunately numerous, of presence in the domestic reference books of factual mistakes and inconsistency in using terms, as well as methodical simplifications occurring in the presentation of assumptions (and even examples of their practical application) in the following discrimination methods by W. Beaver, E. Altman, A. Hołda, D. Wierzba, E. Mączyńska, M. Hamrol, and by D. Appenzeller and K. Szarzec, as well as in the quantified method as an example of point modification of the banking risk evaluation method. It has been shown that in many cases the presented assumptions of the evaluation methods of a firm’s financial condition are radically different from the original versions of such methods, which evidently disqualifies their diagnostic reliability, or they contain many simplifications and methodical deficiencies, which practically exclude their application.

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