Quanto pior, melhor: Estudo da utilização da análise por envoltória de dados em modelos de análise de inadimplência/insolvência de empresas

This paper aims to develop an insolvency/failure analysis model allying accounting information with Data Envelopment Analysis (DEA). The research was conducted in phases: initially previous studies were examined; then samples were obtained from different databases containing financial information of distressed and healthy companies; and, finally a methodology for application of DEA to failure/insolvency analysis was proposed. The results were comparable to those obtained from logistic regression models and neural network models, without, however, a clear indication of the superiority of any procedure