Indikátory finančného zdravia pre modely predikcie finančnej situácie slovenských podnikov
FINANCIAL HEALTH INDICATORS FOR PREDICTION MODELS OF SLOVAK FIRMS’ FINANCIAL SITUATION

Summary/Abstract: The analyses of both external and internal environment of Slovak business sector have led us to the following result: the business conditions as well as the firms’economic efficiency cause very different level of financial ratios of the Slovak firms compared to their level in the firms operating in the standard market environment. That’s why it is not possible to expect the comparable results in the incomparable conditions. The results of the realized analysis document that – in spite of the fact that both eco-nomic environment and firms results as well are not standard – it is possible to identify the differences of certain financial ratios level in the compared groups. In the sense of the prediction methodics these indicators represents potential indicators of the Slovak firms’ financial health. The analysis based on quantiles has shown the expressive distinc-tion of these indicators as well as the stability of differences in time. From the methodological point of view our analysis resulted in the knowledge that it is possible to create the prediction models with the adequate reliability. That means we are able to identify the Slovak firms financial health indicators. These indicators are not identical with the ones used in the foreign models. At the same time we realize that our research represents only a first step in the prediction models creation. However, the iden-tification of the financial health indicators is the important starting point for both the approaches used in Slovak economy for their creation – empirical as well as mathematic and statistical (mainly by means of the discriminatory analysis). We can not forget more and more deepening trends taking into account the nonfinancial and nonquantifiable factors for the Slovak firms’ financial health evaluation (i. e. the innovative potential or management quality). To ensure informatically the prediction models creation, i.e. to obtain the informative and examining sample of firms we recommend to concentrate on the representative data-base administrated by the DataCenter (Slovak Rating Agency and INFIN). The possibil-ity of an annual actualization of models (solving the possible influence of expected fun-damental changes of Slovak economic environment), completing of the built financial analysis system of Slovak business subjects as well as the extension of their application into both bank and non-bank sectors are considered as undoubted advantages of the men-tioned institutional and organizational assurance proposal of the Slovak prediction mod-els creation. The conception of the electronic register of financial statements published in accordance with the Commercial Code would help the creation of the informational base for the realization of the mentioned analysis.

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