Evaluation of the Altman Z-Score Dynamics of an Average Agricultural Holding
The importance of domestic agricultural holdings to the national economy makes it important to analyze the feasibility of applying the Altman Z-score method to them. Unfortunately, such studies are rare. The aim of this study is to assess the dynamics of the Altman Z-score of an average agricultural holding. A sample-based observation method was used to develop an economic and mathematical model of the average agricultural holding. The sample size consisted of 110 organizations within the structures of the country's leading agricultural holdings. The dynamics of Altman Z-score values can be useful for monitoring the financial and economic status of the agro-industrial complex. Testing the model for the industry demonstrated the feasibility of this approach and the feasibility of its application. The Altman Z-score values relative to the economic and mathematical model of the average agricultural holding ranged from 1.5 to 1.95, indicating an orange risk zone. The average value for the 14 years analyzed was 1.7099. The value of the studied indicator for 2011-2024 allows us to classify domestic agricultural holdings, on average, into the orange risk zone with a high probability of bankruptcy. The results of the model testing further substantiate the importance of state support for the agro-industrial complex. The feasibility of analyzing the dynamics of the studied indicator at the macro and meso levels for the purpose of improving state regulation of the agro-industrial complex is substantiated. Such data can indicate periods of crisis in the activities of the analyzed entities. The dynamics of the quantitative values of the Altman Z-score allowed us to identify periods of crisis for the average agricultural holding in the country: 2013-2014, 2016-2017, 2022, and 2024. The dynamics of the indicator under study demonstrate the success of state regulation of the agro-industrial complex and agricultural holdings in particular, as they continue to operate successfully even while in the orange zone.
Morgachev, I V., Shevchenko, M. N., Listopadova, Yu. V., Chugay, D. Yu., Artemenko, V. А. (2025), “Evaluation of the Altman Z-Score Dynamics of an Average Agricultural Holding”, Re-search Result. Business and Service Technologies, 11 (4), pp.
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