BANKRUPTCY PREDICTION MODELS IN THE SERBIAN AGRICULTURAL SECTOR
The aim of this paper is to present different models for predicting the possibility of opening bankruptcy proceedings in companies in Serbia, as well as to research which models are most suitable for companies in the agricultural sector. In this paper, we have used and displayed three models: the Altman’s Z-score model, Kralicek’s DF model and Quick test. Many authors have dealt with this issue, but most of them have developed models for developed markets, which are different from market of Serbia. Striving towards improving the analysis and prediction of bankruptcy has led to comparison of the reference value, in order to obtain concrete models for the evaluation of difficulty in the functioning of the company. In this connection, on a sample of fve companies operating on the territory of the Republic of Serbia, we have applied three models that used standard fnancial indicators to show the fnancial condition and stability of the company. Results suggest that Kralicek’s DF model indicates better fnancial state of the company than Altman’s Z-score model, considering the characteristics of the market in which the model is formed.
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