Model Assessment of the Financial Stability of Travel Industry Entities with Reference to Sustainable Development

The article is aimed at describing and testing a methodology for assessing the probability of bankruptcy of an enterprise operating in travel industry. In analyzing the activities of a travel industry entity with reference to sustainable development, attention is focused on indicators of financial s...

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Autores principales:	Ivanov Roman V., Volkova Valentyna V., Koval Olena S.
Formato:	article
Lenguaje:	EN RU UK
Publicado:	PH "INZHEK" 2021
Materias:	travel industry sustainable development financial stability discriminatory methods Finance HG1-9999 Economics as a science HB71-74
Acceso en línea:	https://doaj.org/article/661bce95d74f4cad91af69db35df2525
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spelling	oai:doaj.org-article:661bce95d74f4cad91af69db35df25252021-11-05T07:46:40ZModel Assessment of the Financial Stability of Travel Industry Entities with Reference to Sustainable Development10.32983/2222-0712-2021-3-153-1592222-07122311-1186https://doaj.org/article/661bce95d74f4cad91af69db35df25252021-09-01T00:00:00Zhttps://www.problecon.com/export_pdf/problems-of-economy-2021-3_0-pages-153_159.pdfhttps://doaj.org/toc/2222-0712https://doaj.org/toc/2311-1186The article is aimed at describing and testing a methodology for assessing the probability of bankruptcy of an enterprise operating in travel industry. In analyzing the activities of a travel industry entity with reference to sustainable development, attention is focused on indicators of financial stability and one of the main financial risks, i.e., the threat of bankruptcy. Modern methods of discriminant analysis used to determine bankruptcy probability, are analyzed as for the adequacy of their use to assess the activities of travel industry entities, and the specificity of their application is described. The available performance indices of a travel agency are analyzed, whose indicators of bankruptcy probability were defined and interpreted as showing that the financial situation at the travel agency in question was satisfactory as for its sustainable development. It is confirmed that of the most widely used methods estimating bankruptcy probability, Matviychuk's model and a modified Altman model are the most proper ones in assessing travel industry entities. Comparison of the results of their application with the entity classification made on the basis of a more commonly used Beaver coefficient shows a high level of consistency among the discriminant models considered. It is noted that taking into account the specifics of the model application and choosing financial indicators are the key to conducting a qualitative analysis and implementing effective anti-crisis policy at an enterprise with reference to its sustainable development. Further analysis of travel industry entities with reference to sustainable development is planned to be conducted using the concept of dynamic equilibrium of the economic system and its effective development.Ivanov Roman V.Volkova Valentyna V.Koval Olena S.PH "INZHEK"articletravel industrysustainable developmentfinancial stabilitydiscriminatory methodsFinanceHG1-9999Economics as a scienceHB71-74ENRUUKProblemi Ekonomiki, Vol 3, Iss 49, Pp 153-159 (2021)
institution	DOAJ
collection	DOAJ
language	EN RU UK
topic	travel industry sustainable development financial stability discriminatory methods Finance HG1-9999 Economics as a science HB71-74
spellingShingle	travel industry sustainable development financial stability discriminatory methods Finance HG1-9999 Economics as a science HB71-74 Ivanov Roman V. Volkova Valentyna V. Koval Olena S. Model Assessment of the Financial Stability of Travel Industry Entities with Reference to Sustainable Development
description	The article is aimed at describing and testing a methodology for assessing the probability of bankruptcy of an enterprise operating in travel industry. In analyzing the activities of a travel industry entity with reference to sustainable development, attention is focused on indicators of financial stability and one of the main financial risks, i.e., the threat of bankruptcy. Modern methods of discriminant analysis used to determine bankruptcy probability, are analyzed as for the adequacy of their use to assess the activities of travel industry entities, and the specificity of their application is described. The available performance indices of a travel agency are analyzed, whose indicators of bankruptcy probability were defined and interpreted as showing that the financial situation at the travel agency in question was satisfactory as for its sustainable development. It is confirmed that of the most widely used methods estimating bankruptcy probability, Matviychuk's model and a modified Altman model are the most proper ones in assessing travel industry entities. Comparison of the results of their application with the entity classification made on the basis of a more commonly used Beaver coefficient shows a high level of consistency among the discriminant models considered. It is noted that taking into account the specifics of the model application and choosing financial indicators are the key to conducting a qualitative analysis and implementing effective anti-crisis policy at an enterprise with reference to its sustainable development. Further analysis of travel industry entities with reference to sustainable development is planned to be conducted using the concept of dynamic equilibrium of the economic system and its effective development.
format	article
author	Ivanov Roman V. Volkova Valentyna V. Koval Olena S.
author_facet	Ivanov Roman V. Volkova Valentyna V. Koval Olena S.
author_sort	Ivanov Roman V.
title	Model Assessment of the Financial Stability of Travel Industry Entities with Reference to Sustainable Development
title_short	Model Assessment of the Financial Stability of Travel Industry Entities with Reference to Sustainable Development
title_full	Model Assessment of the Financial Stability of Travel Industry Entities with Reference to Sustainable Development
title_fullStr	Model Assessment of the Financial Stability of Travel Industry Entities with Reference to Sustainable Development
title_full_unstemmed	Model Assessment of the Financial Stability of Travel Industry Entities with Reference to Sustainable Development
title_sort	model assessment of the financial stability of travel industry entities with reference to sustainable development
publisher	PH "INZHEK"
publishDate	2021
url	https://doaj.org/article/661bce95d74f4cad91af69db35df2525
work_keys_str_mv	AT ivanovromanv modelassessmentofthefinancialstabilityoftravelindustryentitieswithreferencetosustainabledevelopment AT volkovavalentynav modelassessmentofthefinancialstabilityoftravelindustryentitieswithreferencetosustainabledevelopment AT kovalolenas modelassessmentofthefinancialstabilityoftravelindustryentitieswithreferencetosustainabledevelopment
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Model Assessment of the Financial Stability of Travel Industry Entities with Reference to Sustainable Development

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