Some of the largest United States bankruptcies of publicly-traded non-financial firms have occurred within the last decade. The continuing need to improve bankruptcy prediction has generated numerous research studies utilizing various prediction models. The purpose of this study is to test the usefulness of the multiple discriminant, probit, and artificial neural network (ANN) models in predicting bankruptcy in the United States textile-related industry. Financial data is examined for 47 bankrupt and 104 non-bankrupt publicly-traded firms in the textile-related industry during the time period 1998-2004, which includes the events of the Asian currency crisis and increased competition from China. Models developed by Altman (1968), Altman (1983), Zmijewski (1984) are compared to ANNs based upon each of these models. A comparison to an ANN including all of the ratios of the previous models and variables for firm size and domestic sales is also made. The Altman (1968) model and ANN 68 model are found to have the higher predictive power for one and two years prior to bankruptcy, respectively, for bankrupt firms. The ANN 84 model and the ANN 83 model have the highest correct classification results for nonbankrupt firms for the entire time period. Solvency and leverage variables appear to have the most impact on the bankruptcy prediction of textile-related firms. The additional variables of firm size and domestic sales are not found to improve the predictive accuracy. This study supports the continued use of the original Altman (1968) model for predicting bankruptcy in a manufacturing industry. Simultaneous utilization of the ANN 83 model to predict nonbankrupt firms is also suggested since the majority of the Altman (1968) variables can be used and the higher potential for improved predictability. This study may be extended to years after 2004 with consideration given to quarterly information, NAICs codes, and leverage variable alternatives.

À partir de l'observation de pratiques artistiques relationnelles, ce mémoire vise à la fois à identifier la relation comme un enjeu majeur de l'art actuel et à la définir comme concept opératoire pour l'analyse critique de ces pratiques en fonction de leur spécificité. Cette recherche est fondée sur la réévaluation de deux cadres conceptuels: d'une part, la théorie esthétique développée par Nicolas Bourriaud dans l'Esthétique relationnelle (1998) et, d'autre part, la problématique de l'in situ, qui est considérée comme un ancrage historique pour l'analyse des pratiques relationnelles. Proposant de revenir au fondement de la relation pour la définir comme espace de négociation entre soi et l'autre, cette étude permet de considérer les pratiques relationnelles en dehors de l'emprise conceptuelle exercée par l'Esthétique relationnelle de Nicolas Bourriaud. Elle propose également, à partir d'une conception anthropologique de la relation, de dépasser une analyse des pratiques relationnelles qui a souvent été effectuée en fonction de la notion d'in situ en histoire de l'art, en insistant sur la nécessité de considérer qu'un glissement s'opère, du site à la relation, quant à l'ancrage de l'art dans le champ social. La contribution de ce mémoire est de pointer la nature conflictuelle de la relation comme fondement d'une analyse critique des pratiques relationnelles, à partir d'exemples qui explorent la relation comme expérience vécue, en fonction de son altérité et de son effectivité. Cette recherche s'appuie sur cinq études de cas, afin de montrer qu'envisager la relation comme espace de négociation fait émerger de nouvelles questions, directement liées à la rencontre entre des individus. Par l'exploration de la relation à partir d'une reconnaissance de sa dimension hétérogène et conflictuelle, les pratiques de Devora Neumark, de Raphaëlle de Groot, de David Dupont, d'ATSA et d'Artur Zmijewski, sont étudiées dans la mesure où elles mettent en oeuvre des situations d'altérité qui contribuent à redéfinir la notion d'identité et à repenser l'idée de communauté en plus d'être investies d'une dimension intrinsèquement politique. ______________________________________________________________________________ MOTS-CLÉS DE L’AUTEUR : Art relationnel, Art d'intervention, In situ, Artur Zmijewski, Action terroriste socialement acceptable (ATSA), David Dupont, Devora Neumark, Raphaëlle de Groot.

Bankruptcies have been a sensitive topic all around the world for over 50 years. From their research, the authors have found that only a few bankruptcy studies have been conducted in Sweden and even less on the topic of bankruptcy prediction models. This thesis investigates the performance of the Altman, Ohlson and Zmijewski bankruptcy prediction models. This research investigates all Swedish companies during the years 2017 and 2018.  This study has the intention to shed light on some of the most famous bankruptcy prediction models. It is interesting to explore the predictive abilities and usability of those three models in Sweden. The second purpose of this study is to create two models from the most significant variable out of the three models studied and to test its prediction power with the aim to create two models designed for Swedish companies.  We identified a research gap in terms of Sweden, where bankruptcy prediction models have been rather unexplored and especially with those three models. Furthermore, we have identified a second research gap regarding the time period of the research. Only a few studies have been conducted on the topic of bankruptcy prediction models post the financial crisis of 2007/08.  We have conducted a quantitative study in order to achieve the purpose of the study. The data used was secondary data gathered from the Serrano database. This research followed an abductive approach with a positive paradigm. This research has studied all active Swedish companies between the years 2017 and 2018. Finally, this contributed to the current field of knowledge on the topic through the analysis of the results of the models on Swedish companies, using the liquidity theory, solvency and insolvency theory, the pecking order theory, the profitability theory, the cash flow theory, and the contagion effect. The results aligned with the liquidity theory, the solvency and insolvency theory and the profitability theory. Moreover, from this research we have found that the Altman model has the lowest performance out of the three models, followed by the Ohlson model that shows some mixed results depending on the statistical analysis. Lastly, the Zmijewski model has the best performance out of the three models. Regarding the performance and the prediction power of the two new models were significantly higher than the three models studied.

The diploma thesis is aimed at creating a bankruptcy model for companies of the construction industry in the Czech Republic by using discriminant analysis. In the theoretical part, the concept of bankruptcy model is defined; this part is focused on the inclusion of bankruptcy models in economics, a look into their history, a description of selected models and a brief characteristic of the construction industry. In the practical part, the reliability of selected bankruptcy models is counted and a new bankruptcy model is built.

This diploma thesis deals with evaluation of the financial situation of selected company between years 2012 - 2016. The theoretical part of this thesis deals with basic principles of financial and strategic analysis which create basis for elaboration of the practical part. The practical part analyzes the current state of the company using classic and modern methods of financial analysis. Based on findings in the practical part is evaluated overall financial situation of the company and recommendations are suggested to improve the current situation of the company.