Prediction of Payment Discipline Using the Markov Chain - Case Studies of Visegrad Four

• Autorzy: Anna Siekelova , Maria Kovacova , George Lazaroiu , Katarina Valaskova
• Języki publikacji: EN

Abstrakty

EN

This article responds to the current issue of declining payment discipline in the riskiest sector of the Visegrad Four. The aim of this article is to predict the future state of payment discipline in the selected sector of the Visegrad Four countries using the Markov chain. The turbulent market development has tested the financial stability of many businesses and their customers. The receivables and payment discipline of enterprises is an almost chronic problem, and not only of Slovak economy. The willingness of businesses to provide trade credit is declining. This paper defines the fundamental nature of receivables management. Within the overall receivables management process, the emphasis is primarily on assessing the creditworthiness of potential customers, which should be the basis for decision-making and more specifically - denial of trade credit. The authors identify the significant factors determining the payment discipline of enterprises in a selected sector of Visegrad Four countries. Subsequently, using the Markov chain based on past values (20016, 2017) of the chosen factors they predict the development of payment discipline in this sector.(original abstract)

Słowa kluczowe

EN

Markov chain; Stochastic processes; Cohort study; Probability theory

PL

Łańcuch Markowa; Procesy stochastyczne; Badania kohortowe; Teoria prawdopodobieństwa

• Czasopismo: Journal of International Studies
• Rocznik: 2019
• Tom: 12
• Numer: nr 2
• Strony: 270--284

Twórcy

autor

Anna Siekelova

• University of Zilina Slovakia

autor

Maria Kovacova

• University of Zilina, Slovak Republic

autor

George Lazaroiu

• Spiru Haret University, Romania

autor

Katarina Valaskova

• University of Zilina, Slovakia

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Identyfikatory

DOI

10.14254/2071-8330.2019/12-2/17