Grey relational analysis between firm's situation and its possible causes - a bankruptcy syndrome perspective

By making an analogy with the human body, the present paper tries to underline the relations between firm's failure causes and its current situation, in terms of the syndrome that can be identified at its level. For this reason, some elements taken from medicine, such as symptoms, causes and syndromes are presented and characterized from the firm point of view. Knowing the type of syndrome and the relation between it and the causes that determined its occurrence, firm's situation can be improved and its life can be lengthened. The study was conducted on a number of 19 firms and the results are concluding.