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Designing an AI-Based Financial Advisor for Distressed Firms: A Decision Support Framework for Actionable and Accounting-Consistent Algorithmic Recourse
IEEE Access. 2025. Vol. 14. P. 20084–20099.
Lashkevich Y., Zelenkov Y.
Очеретяный К. А., Эпистемология и философия науки 2026 Т. 63 № 2 С. 70–73
AI literally comes to us from the future, not because it exists in some distant temporal reality, but because we, by attempting to construct an expected future through the experiences and affections evoked in us by the idea of AI, are unwittingly creating the conditions for the future's sudden arrival. No matter how much we ...
Added: August 30, 2026
Elizaveta Lashkevich, Zelenkov Y., IEEE Access 2026 Vol. 14 P. 20084–20099
While machine learning models have achieved high accuracy in predicting firm financial failure (FFF), they often function as “closed boxes” that fail to provide actionable guidance for decision-makers. Existing counterfactual explanation methods typically operate in the space of financial ratios (FR), neglecting fundamental accounting identities and implementation costs, thereby producing recommendations that are theoretically valid ...
Added: February 20, 2026
Daria Gribkova, Milshina Y., , in: Artificial Intelligence Enabled Real Time Environmental Monitoring.: Springer, 2026. P. 231–252.
The environment, as a dynamic system influenced by anthropogenic factors, requires evidence-based decision-making to ensure sustainable resource management and mitigate adverse effects. This chapter explores the transformative role of artificial intelligence (AI) in environmental decision support systems (EDSS), focusing on its potential to address complex environmental challenges. EDSS, characterized by their interactivity and ability to ...
Added: January 12, 2026
Zelenkov Y., Бизнес-информатика 2025 Т. 19 № 3 С. 7–21
Most current bankruptcy prediction models are based on financial ratios, although their usage is not supported by formal theory and their interpretation is problematic. One of the prospects for improving the predictive models is the study of other firm performance measures, such as the data envelopment analysis (DEA) scores. However, this raises the problem of ...
Added: October 6, 2025
Yuri A. Zelenkov, Elizaveta V. Lashkevich, Business Informatics 2024 Vol. 18 No. 3 P. 24–40
A counterfactual explanation is the generation for a particular sample of a set of instances that belong
to the opposite class but are as close as possible in the feature space to the factual being explained.
Existing algorithms that solve this problem are usually based on complicated models that require a large
amount of training data and significant ...
Added: October 13, 2024
Zelenkov Y., Fedorova E., Electronic Journal of Applied Statistical Analysis 2022 Vol. 15 No. 1 P. 187–210
Many aspects of bankruptcy have not yet been thoroughly studied, among such issues are the causes that lead to bankruptcy at various stages of the company’s lifecycle. We hypothesize that the most significant factors in- fluencing the probability of company bankruptcy at a particular stage of its lifecycle are those the effectiveness of which is ...
Added: June 7, 2022
Zelenkov Y., Volodarskiy N., Expert Systems with Applications 2021 Vol. 185 Article 115559
The goal of the paper is to develop a new algorithm for predicting whether the company will go bankrupt on the base of unbalanced data. To do it, we propose to consider the classification as a multi-objective optimization problem and construct a prediction model as an ensemble while minimizing the parameters FPR (False Positive Rate) ...
Added: July 21, 2021
Quadrianto N., Sharmanska V., , in: Advances in Neural Information Processing Systems 30 (NIPS 2017).: Montreal: Curran Associates, 2017. P. 678–689.
Конференция Computer Science уровня A* по рейтингу CORE
Equipping machine learning models with ethical and legal constraints is a serious issue; without this, the future of machine learning is at risk. This paper takes a step forward in this direction and focuses on ensuring machine learning models deliver fair decisions. In legal scholarships, the notion of ...
Added: November 13, 2017
Akopov A. S., Beklaryan A., Бекларян Л. А. et al., Экономическая наука современной России 2016 Т. 72 № 1 С. 109–119
Actual challenges of the ecological-economic system for the case study of the Republic of Armenia (RA) are considered in the paper. The simulation of the ecological-economic system based on methods of the agent-based modelling and the system-dynamics, which allowed designing the Ecological Map of RA, was created. The important purpose of the suggested approach is ...
Added: May 19, 2016
Lopez Iturriaga F. J., Sanz I. P., Expert Systems with Applications 2015 Vol. 42 No. 6 P. 2857–2869
We develop a model of neural networks to study the bankruptcy of U.S. banks, taking into account the specific features of the recent financial crisis. We combine multilayer perceptrons and self-organizing maps to provide a tool that displays the probability of distress up to three years before bankruptcy occurs. Based on data from the Federal ...
Added: December 10, 2015
Akopov A. S., Beklaryan A., В кн.: Устойчивость и процессы управления: Материалы III международной конференции (Санкт-Петербург, 5-9 октября 2015 г.).: СПб.: Издательский дом Федоровой Г.В., 2015. С. 401–403.
Actual challenges of the ecological-economic system for the case study of the Republic of Armenia (RA) are considered in the paper. The simulation of the ecological-economic system based on methods of the agent-based modelling and the system-dynamics, which allowed designing the Ecological Map of RA, was created. The important purpose of the suggested approach is ...
Added: October 14, 2015
Neretina E., Pirogov N., Makeeva E., SSRN Working Papers 2012
The problem of the firm bankruptcy prediction was investigated by foreign researchers in the 1930s and it still remains relevant. Since publishing of the major Altman’s work (1968), based on multiple discriminant analysis, this methodological area has been considerably changed. Taking into consideration that new data have appeared in the course of time, companies’ average ...
Added: April 3, 2015
Makeeva E. Y., Аршавский И. В., Корпоративные финансы 2014 Т. 4 № 32 С. 130–141
This paper is concerned with stock liquidity as a factor in making capital structure decisions by managers of Russian firms. Although a big number of studies on capital structure occurred over the last few decades, stock liquidity has only recently attracted scholars’ attention as a possible driver for the choice of capital structure. Yet the ...
Added: March 25, 2015
Demeshev B., Тихонова А. С., Корпоративные финансы 2014 Т. 31 № 3 С. 4–22
The chief aim of this paper is to analyse dynamics of linear and non-linear methods to predict bankruptcy for Russian private small and medium-sized retail and wholesale trade companies. We use financial and non-financial data prior and subsequent to the economic crisis of 2008—2009. We use the following methods: logistic regression and random forest.
This research ...
Added: November 22, 2014
Demeshev B., Тихонова А. С., Экономический журнал Высшей школы экономики 2014 Т. 18 № 3 С. 359–386
The primary aim of this research is to compare diverse statistical models to predict critical financial state for Russian private small and medium-sized companies belonging to different sectors of economy.
We use the following methods: Linear Discriminant Analysis, Quadratic Discriminant Analysis, Mixture Discriminant Analysis, Logistic Regression, Probit Regression, Tree and Random Forest. Our dataset consists of ...
Added: November 22, 2014
Тихонова А. С., Demeshev B., / Высшая школа экономики. Серия WP2 "Количественный анализ в экономике". 2014. № 4.
The primary aim of this research is to compare diverse statistical models to predict critical financial statefor Russian private small and medium-sized companies belonging to different sectors of economy. We use the following methods: Linear Discriminant Analysis, Quadratic Discriminant Analysis, Mixture Discriminant Analysis, Logistic Regression, Probit Regression, Tree and Random Forest.Our dataset consists of approximately ...
Added: September 22, 2014
Akopov A. S., International Journal of Computer Applications in Technology 2014 Vol. 49 No. 3/4 P. 325–331
This work presents a novel approach to designing the parallel genetic algorithm (GA) with fading selection for the solving of the problem of the shareholder value maximisation of an oil company. The algorithm based on the dynamical interaction of synchronised processes, which are interdependent GAs having own separate evolutions of their populations. The developed system ...
Added: June 6, 2014