Bankroto rizikos vertinimas sprendimų priėmimo procese

LTStraipsnyje analizuojama bankroto rizika ir jos svarba įmonės sprendimų priėmimo procese. Bankroto rizikos vertinimas įmonės veikloje labai svarbus todėl, kad bankrotas lemia ne tik skaudžias socialines bei ekonomines pasekmes šalyje, bet ir įmonėje, kurioje tiesiogiai daro įtaką jos veiklai, gali numatyti susidariusią krizinę situaciją, kurios laiku nediagnozavus, ji perauga į krizę ir net bankrotą. Bankroto rizika pradedama vertinti nuo ją sąlygojančių veiksnių ir priežasčių įvardinimo. Kai veiksniai ir priežastys aiškios, tada seka spendimų priėmimo etapas. [Iš leidinio]

ENThe article deals with the bankruptcy risk and the decision making process in a company. Bankruptcy risk assessment in a company's activity is very important, because bankruptcy not only devastates social and economic consequences for the country, but also for the company, which directly affects its performance and may provide a crisis situation, which later turns into a crisis or even bankruptcy. Bankruptcy risk is noticed firstly defining its influencing factors and causes. When the factors and causes are clear, a decision-making process begins. Bankruptcy leads to severe social consequences for the country's deteriorating economic situation, falling living standards of the population and economic development. Sometimes one wrong decision, even a well-operating company can lead to bankruptcy (K-Garškaitė Milvydienė, 2011). With reliable financial reporting information, it is possible to perform analysis of the company's activities, to assess its financial condition, results of operations, cash flows, forecast future prospects. Company bankruptcy and its threat can be seen in the context of the financial statements of changes in calculating and comparing the relative financial indicators, analyzing the dynamics applying the bankruptcy prediction models. Bankruptcy forecasting problems have been solved by many scientists, such as E.I. Altman, G. Springeit, R. Tafl, P. Imanzadeh, M. Maran - Jouri, P. Sepehri, V. Agarwal, M. F. Husein, T. G. Pambekti, etc. Lithuanian enterprise bankruptcy threat issues were analysed by the following scientists: J. Mackevičius, K. Garškaitė - Milvydienė, A. Valackienė, R. Virbickaitė, S. Silvanavičiūtė, S. Stoškus, A. Falcon, D. Beržinskienės and others.The object of the article is the bankruptcy risk assessment in decision-making process. The goal is to analyze the significance of the bankruptcy risk assessment in the decision-making process in a company. When writing this article the following methods were applied: literature review and synthesis of the statistical analysis of the data. Anti-crisis management should be performed periodically for a successful outcome of the company's performance. Defining the risk of bankruptcy, K. Garškaitė-Milvydienė (2012) offers three methods for diagnosing bankruptcy stages, which consists of an overall assessment, problem assessment and evaluation of reasons. In the first phase the overall assessment of the situation the company is carried out in view of the threat of bankruptcy - the integrated assessment model is recommended to apply, which calculates the linear regression relationship between bankruptcy risk and various independent parameters characterizing the company's activities. In the second stage the comparative analysis of financial indicators is carried out. According to K. Garškaitė - Milvydienė (2012), the indicators belong to different groups and reflect different aspects of the company's financial situation. In the third stage the analysis of the problem areas is performed in order to identify the main cause of the company crisis situation (K. Garškaitė - Milvydienė, 2012). In general it can be claimed that mostly company's management aims to develop and introduce new anti-crisis management techniques to improve the company's performance through the company's internal resources and capabilities, but some of them see only one way out - the bankruptcy or reorganization proceedings. In this case, the reorganization is a much better management choice in a critical moment, compared with the decision to declare bankruptcy and liquidation of a company. [From the publication]

• Ekonomika / Economics
• Vadyba / Management