중소벤처기업의 비재무적요인 분석을 통한 도산예측에 관한 연구

A Study on Predicting the Bankruptcy through the Analysis of Non-Financial Factors of SME and Venture Businesses

Even though studies on predicting bankruptcy have been actively conducted for decades, a number of businesses go bankrupt even today. It is because bankruptcy predictions have focused on financial factors related to big or medium enterprises, which is inappropriate for applying to SME and venture businesses where business environment and financial factors are relatively weak. In this manner, accuracy of prediction cannot have been secured as well. According to characteristics of SME and venture businesses in particular, importance of non-financial factors rather than financial ones is raised as an issue again and a lot of research on this subject has been carried out since a few years ago. Based on features of non-financial factors, however, its range is broad and many of subjective elements are included, which makes it challenging to objectify. Additionally, since there also are many difficulties in constructing systems, funding and procuring personnel for practical reflection to actual business, research and its utilization seems to be unsatisfactory so far. This study, therefore, intends to discover non-financial factors necessary for bankruptcy predictions to minimize bankruptcy in SME and venture businesses, verify its utility and make them be practically used in actual work.