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

  • Datos identificativos

    Identificador: imarina:9331011
    Autores:
    Shi, YLi, XN
    Resumen:
    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.
  • Otros:

    Autor según el artículo: Shi, Y; Li, XN
    Departamento: Gestió d'Empreses
    Autor/es de la URV: Li, Xiaoni / Shi, Yin
    Resumen: 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.
    Áreas temáticas: 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
    Acceso a la licencia de uso: https://creativecommons.org/licenses/by/3.0/es/
    Direcció de correo del autor: yin.shi@estudiants.urv.cat xiaoni.li@urv.cat
    Identificador del autor: 0000-0001-6354-5399 0000-0002-4047-4046
    Fecha de alta del registro: 2024-08-03
    Versión del articulo depositado: info:eu-repo/semantics/publishedVersion
    URL Documento de licencia: https://repositori.urv.cat/ca/proteccio-de-dades/
    Referencia al articulo segun fuente origial: Managerial And Decision Economics. 45 (1): 477-491
    Referencia 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 del artículo: 10.1002/mde.4018
    Entidad: Universitat Rovira i Virgili
    Año de publicación de la revista: 2024
    Tipo de publicación: Journal Publications
  • Palabras clave:

    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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