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Bankruptcy prediction for the European aviation industry: An application of the Altman model

  • Dades identificatives

    Identificador: imarina:9331011
    Autors:
    Shi, YLi, XN
    Resum:
    Aviation industry is extremely vulnerable to economic turbulence or a pandemic. Over the past decade, a number of well-known European airline brands have gone into bankruptcy, with consequences such as leaving thousands of passengers stranded abroad. The present research assesses the predictive power of the updated Altman Z-score model (1983 and 2017) using data on European airline bankruptcies over the period 2009–2020. The results indicate that the Z″-score (2017) for private non-manufacturing companies shows satisfactory predictive power when applied on European aviation industry. In this study, we analyze in depth the performance of the updated Altman Z′- and Z″-scores (1983, 2017), connecting airline's financial and non-financial information, and provide a comprehensive interpretation of Z-score predictive power. We aim to contribute to the literature by offering a unique and novel perspective on the Altman model's accuracy for the European air transport industry.
  • Altres:

    Autor segons l'article: Shi, Y; Li, XN
    Departament: Gestió d'Empreses
    Autor/s de la URV: Li, Xiaoni / Shi, Yin
    Resum: Aviation industry is extremely vulnerable to economic turbulence or a pandemic. Over the past decade, a number of well-known European airline brands have gone into bankruptcy, with consequences such as leaving thousands of passengers stranded abroad. The present research assesses the predictive power of the updated Altman Z-score model (1983 and 2017) using data on European airline bankruptcies over the period 2009–2020. The results indicate that the Z″-score (2017) for private non-manufacturing companies shows satisfactory predictive power when applied on European aviation industry. In this study, we analyze in depth the performance of the updated Altman Z′- and Z″-scores (1983, 2017), connecting airline's financial and non-financial information, and provide a comprehensive interpretation of Z-score predictive power. We aim to contribute to the literature by offering a unique and novel perspective on the Altman model's accuracy for the European air transport industry.
    Àrees temàtiques: Strategy and management Psicología Management science and operations research Management of technology and innovation Management Economics Ciencias sociales Business and international management Administração, ciências contábeis e turismo
    Accès a la llicència d'ús: https://creativecommons.org/licenses/by/3.0/es/
    Adreça de correu electrònic de l'autor: yin.shi@estudiants.urv.cat xiaoni.li@urv.cat
    Identificador de l'autor: 0000-0001-6354-5399 0000-0002-4047-4046
    Data d'alta del registre: 2024-08-03
    Versió de l'article dipositat: info:eu-repo/semantics/publishedVersion
    URL Document de llicència: https://repositori.urv.cat/ca/proteccio-de-dades/
    Referència a l'article segons font original: Managerial And Decision Economics. 45 (1): 477-491
    Referència de l'ítem segons les normes APA: Shi, Y; Li, XN (2024). Bankruptcy prediction for the European aviation industry: An application of the Altman model. Managerial And Decision Economics, 45(1), 477-491. DOI: 10.1002/mde.4018
    DOI de l'article: 10.1002/mde.4018
    Entitat: Universitat Rovira i Virgili
    Any de publicació de la revista: 2024
    Tipus de publicació: Journal Publications
  • Paraules clau:

    Business and International Management,Economics,Management,Management of Technology and Innovation,Management Science and Operations Research,Strategy and Management
    Strategy and management
    Psicología
    Management science and operations research
    Management of technology and innovation
    Management
    Economics
    Ciencias sociales
    Business and international management
    Administração, ciências contábeis e turismo
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