A comparative analytical study of foreign and domestic quantitative models for forecasting financial and economic crises of business entities

The article is relevant due to the increasing complexity of economic conditions, increased global competition and the need to develop reliable tools for forecasting financial and economic crises of business entities. This emphasizes the importance of studying foreign and domestic quantitative models for forecasting financial and economic crises which allow responding promptly to changes in the external environment and preventing possible negative consequences. The article presents a comparative analysis of foreign and domestic quantitative models for forecasting crisis situations in economic activity. To achieve this goal we have set the following tasks: to identify the main approaches and methods for modeling crisis processes, to conduct a comparative analysis of their effectiveness and applicability, to determine the features of domestic and foreign models. The study object is models for forecasting financial and economic crises. The subject is quantitative models used to assess and forecast crisis situations in economic entities. General scientific methods involve modeling, system and comparative analysis. The practical significance of the research consists in providing recommendations for the selection and application of the most effective models for forecasting financial and economic crises at enterprises, which could help to increase the level of financial stability of organizations and reduce the risks of crisis phenomena. The results of the study has shown both similarities and differences between domestic and foreign models, revealed their advantages and limitations, so they will be useful for optimizing approaches to forecasting crisis processes.