{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,4,29]],"date-time":"2026-04-29T07:42:29Z","timestamp":1777448549762,"version":"3.51.4"},"reference-count":106,"publisher":"MDPI AG","issue":"3","license":[{"start":{"date-parts":[[2020,3,17]],"date-time":"2020-03-17T00:00:00Z","timestamp":1584403200000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Information"],"abstract":"<jats:p>This paper focuses on business financial health evaluation with the use of selected mathematical and statistical methods. The issue of financial health assessment and prediction of business failure is a widely discussed topic across various industries in Slovakia and abroad. The aim of this paper was to formulate a data envelopment analysis (DEA) model and to verify the estimation accuracy of this model in comparison with the logit model. The research was carried out on a sample of companies operating in the field of heat supply in Slovakia. For this sample of businesses, we selected appropriate financial indicators as determinants of bankruptcy. The indicators were selected using related empirical studies, a univariate logit model, and a correlation matrix. In this paper, we applied two main models: the BCC DEA model, processed in DEAFrontier software; and the logit model, processed in Statistica software. We compared the estimation accuracy of the constructed models using error type I and error type II. The main conclusion of the paper is that the DEA method is a suitable alternative in assessing the financial health of businesses from the analyzed sample. In contrast to the logit model, the results of this method are independent of any assumptions.<\/jats:p>","DOI":"10.3390\/info11030160","type":"journal-article","created":{"date-parts":[[2020,3,17]],"date-time":"2020-03-17T09:27:41Z","timestamp":1584437261000},"page":"160","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":13,"title":["Comparison of the Results of a Data Envelopment Analysis Model and Logit Model in Assessing Business Financial Health"],"prefix":"10.3390","volume":"11","author":[{"given":"Jarmila","family":"Horv\u00e1thov\u00e1","sequence":"first","affiliation":[{"name":"Department of Accounting and Controlling, Faculty of Management, University of Pre\u0161ov, Kon\u0161tant\u00ednova 16, 080 01 Pre\u0161ov, Slovakia"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Martina","family":"Mokri\u0161ov\u00e1","sequence":"additional","affiliation":[{"name":"Department of Accounting and Controlling, Faculty of Management, University of Pre\u0161ov, Kon\u0161tant\u00ednova 16, 080 01 Pre\u0161ov, Slovakia"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"1968","published-online":{"date-parts":[[2020,3,17]]},"reference":[{"key":"ref_1","doi-asserted-by":"crossref","first-page":"129","DOI":"10.1016\/0304-405X(94)00792-Y","article-title":"Causes of Financial Distress Following Leveraged Recapitalizations","volume":"37","author":"Denis","year":"1995","journal-title":"J. Financ. Econ."},{"key":"ref_2","doi-asserted-by":"crossref","first-page":"184","DOI":"10.1007\/BF02755985","article-title":"Predicting Corporate Financial Distress: Reflection on Choice\u2014Based Sample Bias","volume":"26","author":"Platt","year":"2002","journal-title":"J. Econ. Financ."},{"key":"ref_3","doi-asserted-by":"crossref","first-page":"63","DOI":"10.1016\/j.bar.2005.09.001","article-title":"35 Years of Studies on Business Failure: An Overview of the Classic Statistical Methodologies and Their Related Problems","volume":"38","author":"Balcaen","year":"2006","journal-title":"Br. Account. Rev."},{"key":"ref_4","unstructured":"Goldson, M. (1992). The Turnaround Prescription: Repositioning Troubled Companies, Free Press."},{"key":"ref_5","unstructured":"Skitmore, M., and Huang, X. (2018, January 20\u201322). The Holistic View of the Symptoms of Financial Health of Businesses. Proceedings of the 3rd International Conference on Economic and Business Management (FEBM 2018), Honhot, China."},{"key":"ref_6","doi-asserted-by":"crossref","first-page":"236","DOI":"10.1016\/j.ejor.2014.08.016","article-title":"Prediction of financial distress: An empirical study of listed Chinese companies using data mining","volume":"241","author":"Geng","year":"2014","journal-title":"Eur. J. Oper. Res."},{"key":"ref_7","doi-asserted-by":"crossref","first-page":"3081","DOI":"10.1016\/j.eswa.2007.06.037","article-title":"Forecasting Financial Condition of Chinese Listed Companies Based on Support Vector Machine","volume":"34","author":"Ding","year":"2008","journal-title":"Expert Syst. Appl."},{"key":"ref_8","unstructured":"Klie\u0161tik, T. (2019). Predikcia Finan\u010dn\u00e9ho Zdravia Podnikov Tranzit\u00edvnych Ekonom\u00edk, EDIS."},{"key":"ref_9","doi-asserted-by":"crossref","first-page":"1017","DOI":"10.1111\/j.1540-6261.1980.tb03517.x","article-title":"Ratio Stability and Corporate Failure","volume":"35","author":"Dambolena","year":"1980","journal-title":"J. Financ."},{"key":"ref_10","first-page":"105","article-title":"A note on cash flow and classification patterns of financial ratios","volume":"3","author":"Gombola","year":"1983","journal-title":"Account. Rev."},{"key":"ref_11","doi-asserted-by":"crossref","first-page":"97","DOI":"10.1016\/S0957-4174(97)00011-0","article-title":"Bankruptcy prediction using case-based reasoning, neural networks and discriminant analysis","volume":"13","author":"Jo","year":"1997","journal-title":"Expert Syst. Appl."},{"key":"ref_12","doi-asserted-by":"crossref","first-page":"317","DOI":"10.1016\/0378-4266(81)90029-7","article-title":"The probability of bankruptcy. A comparison of empirical predictions and theoretical models","volume":"5","author":"Scott","year":"1981","journal-title":"J. Bank. Financ."},{"key":"ref_13","doi-asserted-by":"crossref","first-page":"3","DOI":"10.1002\/j.1099-1174.1993.tb00031.x","article-title":"A comparative analysis of inductive learning algorithms","volume":"2","author":"Chung","year":"1993","journal-title":"Intell. Syst. Account. Financ. Manag."},{"key":"ref_14","doi-asserted-by":"crossref","first-page":"415","DOI":"10.1016\/S0957-4174(96)00056-5","article-title":"Integration of cased-based forecasting, neural network and discriminant analysis for bancruptcy prediction","volume":"11","author":"Jo","year":"1996","journal-title":"Expert Syst. Appl."},{"key":"ref_15","doi-asserted-by":"crossref","first-page":"139","DOI":"10.1080\/1331677X.2017.1421990","article-title":"Insolvency prediction model of the company: The case of the Republic of Serbia","volume":"31","year":"2018","journal-title":"Econ. Res. -Ekon. Istra\u017eivanja"},{"key":"ref_16","doi-asserted-by":"crossref","first-page":"18","DOI":"10.1108\/14720700610649436","article-title":"Predicting corporate bankruptcy: Where we stand?","volume":"6","author":"Aziz","year":"2006","journal-title":"Corp. Gov."},{"key":"ref_17","doi-asserted-by":"crossref","first-page":"38","DOI":"10.52283\/NSWRCA.AJBMR.20120209A05","article-title":"Evaluating Predictive power of Data Envelopment Analysis Technique Compared with logit and probit Models in Predicting Corporate Bankruptcy","volume":"2","author":"Araghi","year":"2012","journal-title":"Aust. J. Bus. Manag. Res."},{"key":"ref_18","doi-asserted-by":"crossref","first-page":"41","DOI":"10.1016\/j.knosys.2013.12.006","article-title":"Predicting Financial Distress and Corporate Failure: A Review from the State-of-the-art Definitions, Modeling, Sampling, and Featuring Approaches","volume":"57","author":"Sun","year":"2014","journal-title":"Knowl.-Based Syst."},{"key":"ref_19","first-page":"689","article-title":"Vyu\u017eitie sk\u00f3ringov\u00fdch modelov pri predikcii \u00fapadku ekonomick\u00fdch subjektov v Slovenskej republike","volume":"66","year":"2018","journal-title":"Politick\u00e1 Ekon."},{"key":"ref_20","doi-asserted-by":"crossref","first-page":"71","DOI":"10.2307\/2490171","article-title":"Financial ratios as predictors of failure","volume":"4","author":"Beaver","year":"1966","journal-title":"J. Account. Res."},{"key":"ref_21","first-page":"133","article-title":"Comparing financial distress prediction models before and during recession","volume":"2","author":"Jeger","year":"2011","journal-title":"Croat. Oper. Res. Rev."},{"key":"ref_22","unstructured":"Kidane, H.W. (2004). Predicting Financial Distress in IT and Services Companies in South Africa. [Master\u2019s Thesis, Faculty of Economics and Management Sciences]. Available online: http:\/\/scholar.ufs.ac.za:8080\/xmlui\/handle\/11660\/1117."},{"key":"ref_23","unstructured":"Spuch\u013e\u00e1kov\u00e1, E., and Frajtov\u00e1 Michal\u00edkov\u00e1, K. (2016, January 3\u20134). Comparison of LOGIT, PROBIT and neural network bankruptcy prediction models. Proceedings of the 2016 ISSGBM International Conference on Information and Business Management, Hong Kong, China."},{"key":"ref_24","doi-asserted-by":"crossref","first-page":"589","DOI":"10.1111\/j.1540-6261.1968.tb00843.x","article-title":"Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy","volume":"23","author":"Altman","year":"1968","journal-title":"J. Financ."},{"key":"ref_25","doi-asserted-by":"crossref","first-page":"29","DOI":"10.1016\/0378-4266(77)90017-6","article-title":"ZETA ANALYSIS, a new model to identify bankruptcy risk of corporations","volume":"1","author":"Altman","year":"1977","journal-title":"J. Bank. Financ."},{"key":"ref_26","doi-asserted-by":"crossref","first-page":"1","DOI":"10.2307\/2490525","article-title":"Failing company discriminant analysis","volume":"12","author":"Blum","year":"1974","journal-title":"J. Account. Res."},{"key":"ref_27","doi-asserted-by":"crossref","first-page":"167","DOI":"10.2307\/2490225","article-title":"A Discriminant Analysis of Predictors of Business Failure","volume":"10","author":"Deakin","year":"1972","journal-title":"J. Account. Res."},{"key":"ref_28","first-page":"25","article-title":"The effect of lease data on the predictive ability of financial ratios","volume":"5","author":"Elam","year":"1975","journal-title":"Account. Rev."},{"key":"ref_29","first-page":"72","article-title":"A comparison of general price level and historical cost financial statemnets in the prediction of bankruptcy","volume":"54","author":"Norton","year":"1979","journal-title":"Account. Rev."},{"key":"ref_30","doi-asserted-by":"crossref","first-page":"163","DOI":"10.2307\/2490035","article-title":"A prediction of business failure using accounting data","volume":"11","author":"Wilcox","year":"1973","journal-title":"J. Account. Res. Sel. Stud."},{"key":"ref_31","doi-asserted-by":"crossref","first-page":"295","DOI":"10.1080\/00014788.1983.9729767","article-title":"The assessment of company solvency and performance using a statistical model","volume":"13","author":"Taffler","year":"1983","journal-title":"Account. Bus. Res."},{"key":"ref_32","unstructured":"Cisko, S., and Klie\u0161tik, T. (2013). Finan\u010dn\u00fd Mana\u017ement, Edis Publishing, University of \u017dilina."},{"key":"ref_33","first-page":"57","article-title":"The Assessment of Corporate Financial Performance via Discriminant Analysis","volume":"8","year":"2015","journal-title":"Acta Oeconomica Cassoviensia Sci. J."},{"key":"ref_34","unstructured":"Lee, G. (2015, January 28\u201329). Metamorphoses and Semantics of Corporate Failures as a Basal Assumption of a Well-founded Prediction of a Corporate Financial Health. Proceedings of the 3rd International Conference on Economics and Social Science ICESS 2015, Changsha, China."},{"key":"ref_35","first-page":"26","article-title":"Verification of the selected prediction methods in Slovak companies","volume":"14","year":"2015","journal-title":"Acta Acad. Karviniensia"},{"key":"ref_36","doi-asserted-by":"crossref","first-page":"249","DOI":"10.1016\/0378-4266(77)90022-X","article-title":"Early warning of bank failure. A logit regression approach","volume":"1","author":"Martin","year":"1977","journal-title":"J. Bank. Financ."},{"key":"ref_37","doi-asserted-by":"crossref","first-page":"109","DOI":"10.2307\/2490395","article-title":"Financial ratios and the probabilistic prediction of bankruptcy","volume":"18","author":"Ohlson","year":"1980","journal-title":"J. Account. Res."},{"key":"ref_38","unstructured":"Lee, G. (2014, January 29\u201330). Stochastic calculus and modelling in economics and finance. Proceedings of the 2nd International Conference on Economics and Social Science ICESS 2014, Shenzhen, China."},{"key":"ref_39","doi-asserted-by":"crossref","first-page":"411","DOI":"10.1016\/S2212-5671(15)00815-1","article-title":"Determination of Default Probability by Loss Given Default","volume":"26","year":"2015","journal-title":"Procedia Econ. Financ."},{"key":"ref_40","first-page":"37","article-title":"The success of bankruptcy prediction models in Greece","volume":"7","author":"Gloubos","year":"1988","journal-title":"Stud. Bank. Financ."},{"key":"ref_41","doi-asserted-by":"crossref","first-page":"59","DOI":"10.2307\/2490859","article-title":"Methodological issues related to the estimation of financial distress prediction models","volume":"22","author":"Zmijewski","year":"1984","journal-title":"J. Account. Res."},{"key":"ref_42","unstructured":"Albright, J. (2019, January 01). What Is the Difference Between Logit and Probit Models?. Available online: https:\/\/www.methodsconsultants.com\/tutorial\/what-is-the-difference-between-logit-and-probit-models\/."},{"key":"ref_43","unstructured":"Adamko, P., and \u0160v\u00e1bov\u00e1, L. (2016, January 5\u20136). Prediction of the risk of bankruptcy of Slovak companies. Proceedings of the 8th International Scientific Conference on Managing and Modelling of Financial Risks, Ostrava, Czech Republic. Available online: https:\/\/www.ekf.vsb.cz\/export\/sites\/ekf\/rmfr\/cs\/sbornik\/Soubory\/Part_I.pdf."},{"key":"ref_44","unstructured":"Jakub\u00edk, P., and Tepl\u00fd, P. (2008). The Prediction of Corporate Bankruptcy and Czech Economy\u2019s Financial Stability through Logit Analysis, IES FSV, Univerzita Karlova. Available online: https:\/\/www.econstor.eu\/bitstream\/10419\/83366\/1\/578585421.pdf."},{"key":"ref_45","first-page":"15","article-title":"Microeconomic Scoring Model of Czech Firms\u2019 Bankruptcy","volume":"15","year":"2012","journal-title":"Ekonomick\u00e1 Revue"},{"key":"ref_46","unstructured":"Hand, D.J. (1985). Artificial Intelligence and Psychiatry, Cambridge University Press."},{"key":"ref_47","doi-asserted-by":"crossref","first-page":"73","DOI":"10.1080\/00949659208811392","article-title":"A Comparison of the Classical and the Linear Programming Approaches to the Classification Problem in Discriminant Analysis","volume":"41","author":"Nath","year":"1992","journal-title":"J. Stat. Comput. Simul."},{"key":"ref_48","doi-asserted-by":"crossref","unstructured":"Horv\u00e1thov\u00e1, J., and Mokri\u0161ov\u00e1, M. (2018). Risk of Bankruptcy, its Determinants and Models. Risks., 6.","DOI":"10.3390\/risks6040117"},{"key":"ref_49","first-page":"1","article-title":"Healthcare efficiency assessment using DEA analysis in the Slovak Republic","volume":"8","year":"2018","journal-title":"Health Econ. Rev."},{"key":"ref_50","doi-asserted-by":"crossref","first-page":"429","DOI":"10.1016\/0377-2217(78)90138-8","article-title":"Measuring the efficiency of decision making units","volume":"2","author":"Charnes","year":"1978","journal-title":"Eur. J. Oper. Res."},{"key":"ref_51","doi-asserted-by":"crossref","first-page":"253","DOI":"10.2307\/2343100","article-title":"The Measurement of Productive Efficiency","volume":"120","author":"Farrell","year":"1957","journal-title":"J. R. Stat. Soc. Ser. A"},{"key":"ref_52","doi-asserted-by":"crossref","first-page":"273","DOI":"10.2307\/1906814","article-title":"The coefficient of resource utilization","volume":"19","author":"Debreu","year":"1951","journal-title":"Econometrica"},{"key":"ref_53","unstructured":"Koopmans, T.C. (1951). Analysis of production as an efficient combination of activities. Activity Analysis of Production and Allocation, John Wiley and Sons Inc."},{"key":"ref_54","doi-asserted-by":"crossref","first-page":"1078","DOI":"10.1287\/mnsc.30.9.1078","article-title":"Some models for estimating technical and scale inefficiencies in data envelopment analysis","volume":"30","author":"Banker","year":"1984","journal-title":"Manag. Sci."},{"key":"ref_55","doi-asserted-by":"crossref","unstructured":"F\u00e4re, R., Grosskopf, S., and Lovell, C.A. (1985). Measurement of Efficiency of Production, Kluwer-Nijhoff Publishing Co.","DOI":"10.1007\/978-94-015-7721-2"},{"key":"ref_56","first-page":"291","article-title":"DEA Based Benchmarking Models","volume":"Volume 221","author":"Zhu","year":"2015","journal-title":"Data Envelopment Analysis. International Series in Operations Research & Management Science"},{"key":"ref_57","doi-asserted-by":"crossref","first-page":"498","DOI":"10.1016\/S0377-2217(99)00407-5","article-title":"A slacks-based measure of efficiency in data envelopment analysis","volume":"130","author":"Tone","year":"2001","journal-title":"Eur. J. Oper. Res."},{"key":"ref_58","doi-asserted-by":"crossref","unstructured":"F\u00e4re, R., Grosskopf, S., and Margaritis, D. (2015). Advances in Data Envelopment Analysis, World Scientific Publishing Co. Pte. Ltd.. World Scientific Books.","DOI":"10.1142\/9450"},{"key":"ref_59","doi-asserted-by":"crossref","first-page":"929","DOI":"10.1057\/palgrave.jors.2602205","article-title":"Measuring the performances of decision-making units using geometric average efficiency","volume":"58","author":"Wang","year":"2007","journal-title":"J. Oper. Res. Soc."},{"key":"ref_60","first-page":"73","article-title":"Data Envelopment Analysis: Critique and Extensions","volume":"Volume 1986","author":"Sexton","year":"1986","journal-title":"Measuring Efficiency: An Assessment of Data Envelopment Analysis"},{"key":"ref_61","doi-asserted-by":"crossref","first-page":"418","DOI":"10.1016\/j.ejor.2006.11.041","article-title":"Efficiency decomposition in twostage data envelopment analysis: An application to non-life insurance companies in Taiwan","volume":"185","author":"Kao","year":"2008","journal-title":"Eur. J. Oper. Res."},{"key":"ref_62","doi-asserted-by":"crossref","first-page":"99","DOI":"10.1016\/j.omega.2010.04.002","article-title":"Two-stage evaluation of bank branch efficiency using data envelopment analysis","volume":"39","author":"Paradi","year":"2011","journal-title":"Omega"},{"key":"ref_63","doi-asserted-by":"crossref","first-page":"273","DOI":"10.1016\/j.econedurev.2005.02.005","article-title":"Data envelopment analysis and its application to the measurement of efficiency in higher education","volume":"25","author":"Johnes","year":"2006","journal-title":"Econ. Educ. Rev."},{"key":"ref_64","doi-asserted-by":"crossref","unstructured":"Thanassoulis, E. (2001). Introduction to the Theory and Application of Data Envelopment Analysis, Springer.","DOI":"10.1007\/978-1-4615-1407-7"},{"key":"ref_65","doi-asserted-by":"crossref","first-page":"243","DOI":"10.1023\/A:1007742104524","article-title":"What Is the Economic Meaning of FDH?","volume":"11","author":"Thrall","year":"1999","journal-title":"J. Product. Anal."},{"key":"ref_66","doi-asserted-by":"crossref","first-page":"4247","DOI":"10.1016\/j.enpol.2008.08.004","article-title":"Data envelopment analysis with uncertain data: An application for Iranian electricity distribution companies","volume":"36","author":"Sadjadi","year":"2008","journal-title":"Energy Policy"},{"key":"ref_67","doi-asserted-by":"crossref","first-page":"199","DOI":"10.1007\/s40092-014-0096-0","article-title":"Robust DEA under discrete uncertain data: A case study of Iranian electricity distribution companies","volume":"11","author":"Hafezalkotob","year":"2015","journal-title":"J. Ind. Eng. Int."},{"key":"ref_68","doi-asserted-by":"crossref","first-page":"181","DOI":"10.1007\/s10729-006-7665-8","article-title":"Analysis of uncompensated hospital care using a DEA model of output congestion","volume":"9","author":"Ferrier","year":"2006","journal-title":"Health Care Manag. Sci."},{"key":"ref_69","first-page":"237","article-title":"Efficiencies of health insurance business in India: An application of DEA","volume":"2","author":"Bawa","year":"2011","journal-title":"Am. J. Soc. Manag. Sci."},{"key":"ref_70","first-page":"537","article-title":"Life expectancy and health expenditure evolution in Eastern Europe\u2014DiD and DEA analysis","volume":"16","author":"Jakovljevic","year":"2016","journal-title":"Expert Rev. Pharm. Outcomes Res."},{"key":"ref_71","doi-asserted-by":"crossref","unstructured":"Thabrani, G., Irfan, M., Mesta, H.A., and Arifah, L. (2018, January 19). Efficiency Analysis of Local Government Health Service in West Sumatra Province Using Data Envelopment Analysis (DEA). Proceedings of the 1st International Conference on Economics, Business, Entrepreneurship, and Finance (ICEBEF 2018), Bandung, Indonesia.","DOI":"10.2991\/icebef-18.2019.164"},{"key":"ref_72","unstructured":"Simak, P.C. (1997). DEA Based Analysis of Coporate Failure. [Master\u2019s Thesis, Faculty of Applied Sciences and Engineering, University of Toronto]."},{"key":"ref_73","doi-asserted-by":"crossref","first-page":"526","DOI":"10.1016\/S0377-2217(03)00186-3","article-title":"Bankruptcy prediction using a data envelopment analysis","volume":"154","author":"Cielen","year":"2004","journal-title":"Eur. J. Oper. Res."},{"key":"ref_74","doi-asserted-by":"crossref","first-page":"153","DOI":"10.1023\/B:PROD.0000016870.47060.0b","article-title":"Using DEA and worst practice DEA in credit risk evaluation","volume":"21","author":"Paradi","year":"2004","journal-title":"J. Product. Anal."},{"key":"ref_75","doi-asserted-by":"crossref","first-page":"412","DOI":"10.1016\/j.ejor.2007.11.036","article-title":"DEA as a tool for bankruptcy assessment: A comparative study with logistic regression technique","volume":"193","author":"Premachandra","year":"2009","journal-title":"Eur. J. Oper. Res."},{"key":"ref_76","doi-asserted-by":"crossref","first-page":"561","DOI":"10.1016\/j.ejor.2008.11.030","article-title":"Methodological comparison between DEA and DEA-DA from the perspective of bankruptcy assessment","volume":"188","author":"Sueyoshi","year":"2009","journal-title":"Eur. J. Oper. Res."},{"key":"ref_77","doi-asserted-by":"crossref","first-page":"620","DOI":"10.1016\/j.omega.2011.01.002","article-title":"DEA as a Tool for Predicting Corporate Failure and Success: A Case of Bankruptcy Assessment","volume":"3","author":"Premachandra","year":"2011","journal-title":"Omega"},{"key":"ref_78","doi-asserted-by":"crossref","first-page":"1988","DOI":"10.1016\/j.eswa.2011.08.043","article-title":"A modified directional distance formulation of DEA to assess bankruptcy: An application to IT\/ITES companies in India","volume":"9","author":"Shetty","year":"2012","journal-title":"Expert Syst. Appl."},{"key":"ref_79","unstructured":"Hronov\u00e1, S., and Vltavsk\u00e1, K. (2015, January 2\u20136). Corporate failure prediction using DEA: An application to companies in the Slovak Republic. Proceedings of the 18th International Scientific Conference Applications of Mathematics and Statistics in Economics (AMSE), Jind\u0159ich\u00fav Hradec, Czech Republic. Available online: http:\/\/amse-conference.eu\/history\/amse2015\/doc\/Rohacova_Kral.pdf."},{"key":"ref_80","doi-asserted-by":"crossref","first-page":"1177","DOI":"10.11118\/actaun201361041177","article-title":"New approaches for the financial distress classification in agribusiness","volume":"61","author":"Hampel","year":"2013","journal-title":"Acta Univ. Agric. Silvic. Mendel. Brun."},{"key":"ref_81","doi-asserted-by":"crossref","first-page":"141","DOI":"10.1016\/j.omega.2015.08.001","article-title":"Supplier\u2019s total cost of ownership evaluation: A data envelopment analysis approach","volume":"61","author":"Visani","year":"2016","journal-title":"Omega"},{"key":"ref_82","doi-asserted-by":"crossref","first-page":"52","DOI":"10.1016\/j.iref.2019.01.004","article-title":"A dynamic network DEA model for accounting and financial indicators: A case of efficiency in MENA banking","volume":"61","author":"Wanke","year":"2019","journal-title":"Int. Rev. Econ. Financ."},{"key":"ref_83","doi-asserted-by":"crossref","first-page":"5","DOI":"10.5539\/res.v7n7p5","article-title":"An Artificial Intelligence Approach towards Investigating Corporate Bankruptcy","volume":"7","author":"Gherghina","year":"2015","journal-title":"Rev. Eur. Stud."},{"key":"ref_84","doi-asserted-by":"crossref","first-page":"505","DOI":"10.1016\/0378-4266(94)90007-8","article-title":"Corporate distress diagnosis: Comparisons using linear discriminant analysis and neural networks (the Italian experience)","volume":"18","author":"Altman","year":"1994","journal-title":"J. Bank. Financ."},{"key":"ref_85","doi-asserted-by":"crossref","first-page":"929","DOI":"10.1109\/72.935101","article-title":"Bankruptcy prediction for credit risk using neural networks: A survey and new results","volume":"12","author":"Atiya","year":"2001","journal-title":"IEEE Trans. Neural Netw."},{"key":"ref_86","first-page":"601","article-title":"Predicting corporate financial distress: A new neural networks approach","volume":"16","author":"Abid","year":"2002","journal-title":"Financ. India"},{"key":"ref_87","doi-asserted-by":"crossref","first-page":"2047","DOI":"10.1016\/j.neucom.2009.11.034","article-title":"Predicting bankruptcy using neural networks and other classification methods: The influence of variable selection techniques on model accuracy","volume":"73","year":"2010","journal-title":"Neurocomputing"},{"key":"ref_88","unstructured":"Zouari, A. (2012). Discriminating Firm Financial Health Using Self-Organizing Maps: The Case of Saudi Arabia, Department of Finance and Investment, College of Economics and Administrative Sciences, Imam Muhammad Bin Saud Islamic University."},{"key":"ref_89","unstructured":"CRIF (2016). Financial Statements of Businesses, Slovak Credit Bureau, s.r.o."},{"key":"ref_90","doi-asserted-by":"crossref","unstructured":"Csik\u00f3sov\u00e1, A., Jano\u0161kov\u00e1, M., and \u010culkov\u00e1, K. (2019). Limitation of Financial Health Prediction in companies from Post-Communist Countries. J. Risk Financ. Manag., 12.","DOI":"10.3390\/jrfm12010015"},{"key":"ref_91","first-page":"311","article-title":"Technical efficiency of top 50 world banks","volume":"8","year":"2013","journal-title":"J. Appl. Econ. Sci."},{"key":"ref_92","first-page":"169","article-title":"Aplik\u00e1cia DEA modelov pri anal\u00fdze technickej efekt\u00edvnosti pobo\u010diek komer\u010dnej banky","volume":"60","year":"2012","journal-title":"Ekonomick\u00fd \u010casopis"},{"key":"ref_93","unstructured":"Mladenovic, N., Sifaleras, A., and Kuxmanovic, M. (2020). Analyzing the Efficiency of Travel and Tourism in the European Union. Advances in Operational Research in the Balkans, Proceedings of the 13th Balkan Conference on Operational Research, Belgrade, Serbia, 25\u201328 May 2018, Elsevier."},{"key":"ref_94","unstructured":"Altman, E.I. (1983). Corporate Financial Distress. A Complete Guide to Predicting, Avoiding, and Dealing with Bankruptcy, Wiley Interscience, John Wiley and Sons."},{"key":"ref_95","first-page":"133","article-title":"Kvantifik\u00e1cia efektivity \u010dinnost\u00ed dopravn\u00fdch podnikov pomocou Data Envelopment Analysis","volume":"1","year":"2009","journal-title":"E+M Ekon. Manag."},{"key":"ref_96","first-page":"24","article-title":"Vyu\u017eitie DEA modelov na hodnotenie efekt\u00edvnosti","volume":"13","year":"2005","journal-title":"Biatec"},{"key":"ref_97","first-page":"775","article-title":"logit and probit application for the prediction of bankruptcy in Slovak companies","volume":"12","year":"2017","journal-title":"Equilib. Q. J. Econ. Econ. Policy"},{"key":"ref_98","unstructured":"Bo\u010fa, M. (2016, January 22\u201323). Comparing DEA and logistic regression in corporate financial distress prediction. Proceedings of the International Scientific Conference FERNSTAT 2016, Bansk\u00e1 Bystrica, Slovakia. Available online: http:\/\/fernstat.ssds.sk\/proceedings\/."},{"key":"ref_99","first-page":"30","article-title":"Verifik\u00e1cia predik\u010dn\u00fdch modelov v podmienkach slovensk\u00e9ho po\u013enohospod\u00e1rskeho sektora","volume":"9","year":"2017","journal-title":"Ekon. Manag. Inovace"},{"key":"ref_100","doi-asserted-by":"crossref","first-page":"532","DOI":"10.3846\/20294913.2016.1197165","article-title":"The portability of Altman\u2019s Z-score model to predicting corporate financial distress of Slovak companies","volume":"22","year":"2016","journal-title":"Technol. Econ. Dev. Econ."},{"key":"ref_101","doi-asserted-by":"crossref","first-page":"12","DOI":"10.11613\/BM.2014.003","article-title":"Understanding logistic regression analysis","volume":"24","author":"Sperandei","year":"2014","journal-title":"Biochem. Med."},{"key":"ref_102","unstructured":"Heb\u00e1k, J. (2015). Statistick\u00e9 My\u0161len\u00ed a N\u00e1stroje Anal\u00fdzy Dat, Informatorium."},{"key":"ref_103","unstructured":"Zhu, J. (2019). DEA Frontier Software, Foisie Business School, Worcester Polytechnic Institute."},{"key":"ref_104","first-page":"26","article-title":"Diagnostikovanie finan\u010dn\u00e9ho zdravia podnikov pomocou met\u00f3dy DEA: Aplik\u00e1cia na podniky v Slovenskej republike","volume":"65","year":"2017","journal-title":"Politick\u00e1 Ekon."},{"key":"ref_105","unstructured":"Ling, C.X., Huang, J., and Zhang, H. (2003, January 9\u221215). AUC: A statistically consistent and more discriminating measure than accuracy. Proceedings of the International Joint Conferences on Artificial Intelligence, Acapulco\u201a Mexico\u201a. Available online: https:\/\/cling.csd.uwo.ca\/papers\/ijcai03.pdf."},{"key":"ref_106","first-page":"169","article-title":"Data envelopment analysis and data mining to efficiency estimation and evaluation","volume":"12","author":"Anouze","year":"2019","journal-title":"Int. J. Islamic Middle East. Financ. Manag."}],"container-title":["Information"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.mdpi.com\/2078-2489\/11\/3\/160\/pdf","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,10,11]],"date-time":"2025-10-11T09:07:28Z","timestamp":1760173648000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.mdpi.com\/2078-2489\/11\/3\/160"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2020,3,17]]},"references-count":106,"journal-issue":{"issue":"3","published-online":{"date-parts":[[2020,3]]}},"alternative-id":["info11030160"],"URL":"https:\/\/doi.org\/10.3390\/info11030160","relation":{},"ISSN":["2078-2489"],"issn-type":[{"value":"2078-2489","type":"electronic"}],"subject":[],"published":{"date-parts":[[2020,3,17]]}}}