Risk Insurance in Construction Industry in Russia

Student: Turbina Mariia

Supervisor: Dmitry V. Levando

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2018

This work analyzes probability of bankruptcy in construction industry of Russia from both theoretical and practical perspective. Economic environment in the industry in the last years was examined, as well as some features were highlighted. Then, some of the most significant models of predicting bankruptcy using accounting data were discussed. After that, research work was conducted, whose aim was to compare 2 models of bankruptcy forecasting - Fulmer and Altman-Sabato models. For this purpose, accounting statements 36 Russian construction companies were used. As a result, the study showed that Fulmer model is more accurate in its prediction of bankruptcy.

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