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Publication Detailed Description
A multiple criteria evaluation system for bankruptcy prediction of small and medium-sized enterprises
XXVII Jornadas Hispano-Lusas de Gestión-Científica
Year (definitive publication)
2017
Language
English
Country
Spain
More Information
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Abstract
The global financial crisis has shown the ability to predict bankruptcy to be a vital management
skill, and that the methodologies used for that purpose should be as close to reality as possible. This
study aims to develop a multiple criteria system to predict bankruptcy in small and medium-sized
enterprises (SMEs). It combines cognitive mapping with the measuring attractiveness by a
categorical based evaluation technique (MACBETH), resulting in a more complete and transparent
process for evaluating SMEs (and their risk of bankruptcy). What differentiates this framework
from previous ones is the fact that it is based on information obtained directly from managers and
bank analysts who deal with this type of adversity on a daily basis. The results highlight the
importance of financial and strategic aspects, among others; and demonstrate how cognitive
mapping can improve the understanding of the decision situation at hand, while MACBETH
facilitates the calculation of trade-offs among evaluation criteria.
Acknowledgements
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Keywords
Bankruptcy prediction,Cognitive mapping,MCDA,SMEs
Awards
Best Paper Award
