¿Era posible prever el default de la empresa ATU artículos de acero S.A. en el mercado de valores ecuatoriano a través de la aplicación de los modelos de quiebra de: Altman, Ohlson y Beaver?

This research work is based on the effectiveness to predict the bankruptcy in Ecuador by applying Altman´s, Beaver´s and Ohlson´s models. The main case in this paper is the bankruptcy of the company ATU Articulos de Acero. This company broke down in the Ecuadorian stock market with an approximate amount of 5 million dollars in values with investors. Once all the relevant financial information has been applied, the scores obtained showed their ability to predict bankruptcy for over 4 periods (2015, 2016, 2017 and 2018). In fact, the results are extrapolated to a financial analysis to compare and describe the main accounting accounts and financial ratios. Moreover, the research applied the same bankruptcy models to 30 companies in the real non-commercial sector that operate in the stock market. Once the scores were implemented, the results were compared with a financial credit analysis. Therefore, the predictions were effectiveness in all companies with a 93 percent of success. Finally, the conclusions are drawn up on the models which are the most relevant for cataloging the company as bankrupt and the models which make easier the job to visualize the Company is financial behavior. With this information at the end of the work is explained that it was possible to foresee the bankruptcy of the company ATU Articles of Steel even two years ago it happened.