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The Impact of Competition on Company Bankruptcy

ФИО студента: Roman Ustinov

Руководитель: Dmitriy Potapov

Кампус/факультет: Faculty of Economics, Management, and Business Informatics

Программа: Economics (Bachelor)

Год защиты: 2021

Corporate bankruptcy prediction is considered as assessing usually financial determinants, while there are several scholars who make an attempt to examine it from a market standpoint. This study is devoted to assessing the impact of competition on the bankruptcy of Russian construction companies. The paper considers four categories of indicators: financial and non-financial corporate determinants, regional indicators and market structure indicators. This article analyzes the financial statements of Russian companies from the SPARK database from 2014 to 2020. Further, three logistic regressions were built, which allows assessing both the current status and the forecast for 1 and 2 years ahead. Based on the results obtained, we can conclude that competition assessed through the concentration index has a negative effect on increasing the bankruptcy probability. Thus, with high competition, companies are more often involved in high-risk projects, which often lead to bankruptcy.

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