Economic analysis of tourism enterprise solvency and the possibility of bankruptcy: The case of the Thomas Cook group
| Autor: | NURKHODZHA AKBULAEV, Guliyeva, N., Aslanova, G. |
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| Zdroj: | Scopus-Elsevier African Journal of Hospitality, Tourism and Leisure, Vol 9, Iss 2 (2020) |
| Popis: | Whether firms are in the last phase of their life cycle can be seen through bankruptcy prediction models. The bankruptcy of companies concerns not only shareholders and creditors, but also an entire economy, affecting all stakeholders directly or indirectly. It is important for all segments of companies to anticipate possible bankruptcies as early as possible. In this context, a number of studies have been carried out and models for the prevention of bankruptcy of companies have been developed. A number of models have been developed not only for the prevention of corporate bankruptcy but also for revealing why postbankruptcy companies have gone bankrupt. In the paper under consideration, the results of the study of the bankruptcy probability are presented as the key component of business solvency through the example of the recently bankrupted travel company "Thomas Cook Group". We considered Altman and DuPont models as the main measures. The major issue of the study is the specificity of these models, their unique laws for different countries, markets and industries. Based on the results compared, the best model for forecasting bankruptcy and return on equity calculating will be selected. As a result of the study and analysis, the researchers tried to investigate why the firm went bankrupt. The most appropriate models were selected and the equity table of the company was analyzed. The fact that the firm was operating in the international dimension and went bankrupt clearly had an undisputed effect in many countries I which it operated. |
| Databáze: | OpenAIRE |
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