Verfahren der Insolvenzprognose in rumänischen Unternehmen
Procedures of Insolvency-Prognoses in Romanian Enterprises

Summary/Abstract: This paper aims to analyze the applicability of classical bankruptcy prediction models for the Romanian companies listed at the Bucharest stock exchange. Using four models, the original Altman Z-Score model, the Z”-Score model, the Springate model and the model used to determine insolvency probability for the emerging markets, a study was conducted to see if they apply to Romanian companies’ financial statements for the years between 2007 and 2008 and compare the obtained results. Each model will be presented separately, testing their accuracy ratio using the “Type I and II errors” method. In the end, the results will be combined to establish the applicability of these models to the Romanian companies.

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