Financial Distress Prediction Models - An Introduction PDF Download
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Author: Sakalya Venkata Seshaiah
Publisher:
ISBN: 9788131403822
Category : Business failures
Languages : en
Pages : 188
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Book Description
Financial Distress Prediction is a condition in which a business can neither pay up its debts nor liquidate them. The property of the debtor is taken over by the receiver/trustee on behalf of the creditors. Though financial distress prediction is very co
Author: Sakalya Venkata Seshaiah
Publisher:
ISBN: 9788131403822
Category : Business failures
Languages : en
Pages : 188
Get Book Here
Book Description
Financial Distress Prediction is a condition in which a business can neither pay up its debts nor liquidate them. The property of the debtor is taken over by the receiver/trustee on behalf of the creditors. Though financial distress prediction is very co
Author: Edward I. Altman
Publisher: John Wiley & Sons
ISBN: 1118046048
Category : Business & Economics
Languages : en
Pages : 314
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Book Description
A comprehensive look at the enormous growth and evolution of distressed debt, corporate bankruptcy, and credit risk default This Third Edition of the most authoritative finance book on the topic updates and expands its discussion of corporate distress and bankruptcy, as well as the related markets dealing with high-yield and distressed debt, and offers state-of-the-art analysis and research on the costs of bankruptcy, credit default prediction, the post-emergence period performance of bankrupt firms, and more.
Author: William H. Beaver
Publisher: Now Publishers Inc
ISBN: 1601984243
Category : Business & Economics
Languages : en
Pages : 89
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Book Description
Financial Statement Analysis and the Prediction of Financial Distress discusses the evolution of three main streams within the financial distress prediction literature: the set of dependent and explanatory variables used, the statistical methods of estimation, and the modeling of financial distress. Section 1 discusses concepts of financial distress. Section 2 discusses theories regarding the use of financial ratios as predictors of financial distress. Section 3 contains a brief review of the literature. Section 4 discusses the use of market price-based models of financial distress. Section 5 develops the statistical methods for empirical estimation of the probability of financial distress. Section 6 discusses the major empirical findings with respect to prediction of financial distress. Section 7 briefly summarizes some of the more relevant literature with respect to bond ratings. Section 8 presents some suggestions for future research and Section 9 presents concluding remarks.
Author: William S. Hopwood
Publisher:
ISBN:
Category : Mathematical models
Languages : en
Pages : 30
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Book Description
Author: Hui Hu
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659337819
Category : Bankruptcy
Languages : en
Pages : 348
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Book Description
This book presents a study which makes the first attempt to construct a particular financial distress prediction model for growth enterprises on the Growth Enterprise Markets in Hong Kong and mainland China. This study firstly establishes two financial distress prediction models: one incorporating financial factors and the other incorporating non-financial and macroeconomic factors. Based on these two models, the present work develops a financial distress prediction model, which uses all the three sets of factors. It has been found that the model including firm-specific non-financial and macroeconomic factors performs better in predicting growth enterprises' financial distress than does the model including firm-specific financial factors. Moreover, the model that considers all the three sets of factors has better predictive ability than does the model that incorporates firm-specific financial factors. It can be envisaged that investors, auditors and policymakers of the special markets would find the conclusion of this work extremely useful.
Author: Li-Tze Lee
Publisher:
ISBN:
Category : Biometry
Languages : en
Pages : 6
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Book Description
The purpose of this study is to evaluate financial and non-financial variables using the bankruptcy prediction model. Considering Taiwan companies listed between 2001 and 2005, the estimation sample comprises 140 firms (70 failing and 70 non-failing), and the validation sample comprises 52 firms (26 failing and 26 non-failing). In contrast to previous studies, this paper provides a corporate governance index as non-financial variables to predict financial distress along with financial index. Logistic regression is applied to examine these samples for 3 year data prior to business failure. In the estimation sample, the indexes combining both financial and corporate governance indexes gave the most accurate predictions. In the validation sample, the financial variables yielded the most accurate predictions.
Author: Edward I. Altman
Publisher: John Wiley & Sons
ISBN: 1119481805
Category : Business & Economics
Languages : en
Pages : 374
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Book Description
A comprehensive look at the enormous growth and evolution of distressed debt markets, corporate bankruptcy, and credit risk models This Fourth Edition of the most authoritative finance book on the topic updates and expands its discussion of financial distress and bankruptcy, as well as the related topics dealing with leveraged finance, high-yield, and distressed debt markets. It offers state-of-the-art analysis and research on U.S. and international restructurings, applications of distress prediction models in financial and managerial markets, bankruptcy costs, restructuring outcomes, and more.
Author: 許伯勳
Publisher:
ISBN:
Category :
Languages : en
Pages : 44
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Book Description
Author: Graham Partington
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
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Book Description
We use a time-dependent Cox regression model with dynamic variables to estimate survival probabilities and make dynamic financial distress predictions for a sample of Australian firms listed on the Australian Securities Exchange from 1989 to 2006. This is one of the first studies to apply dynamic variables in forecasting financial distress. In contrast to most bankruptcy studies using static models, our model's predictive accuracy improves as the time horizon lengthens. The baseline hazard appears to play a strong role relative to the covariates that measure firms' risk factors.
Author: Fathi Abid
Publisher:
ISBN:
Category :
Languages : en
Pages : 9
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Book Description
This exploratory research examines and models the financial distress prediction using neural network approach. The study is based on financial ratios. Nine different neural network models are constructed to test the predictive capability of the models by considering: (1) the impact of time varying information structure prior the distressed situation using first, independent annual financial ratios (four models)and second, different panel data sets (three models) and, (2) the influence of time varying probability estimates of financial distress in panel data sets (two models). Results support that it is not necessary to have complex architecture in neural models to predict firm's financial distress. Besides more the predictability horizon is shorter and the input information structure is most recent, more the predictive capability of the neural model is better.
