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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: 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: 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: 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: Edward I. Altman
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 408
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Book Description
"A Wiley-Interscience publication."Includes index. Bibliography: p. 355-361.
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: Adrian R. Bell
Publisher: Edward Elgar Publishing
ISBN: 0857936093
Category : Business & Economics
Languages : en
Pages : 494
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Book Description
This impressive Handbook presents the quantitative techniques that are commonly employed in empirical finance research together with real-world, state-of-the-art research examples. Written by international experts in their field, the unique approach describes a question or issue in finance and then demonstrates the methodologies that may be used to solve it. All of the techniques described are used to address real problems rather than being presented for their own sake, and the areas of application have been carefully selected so that a broad range of methodological approaches can be covered. The Handbook is aimed primarily at doctoral researchers and academics who are engaged in conducting original empirical research in finance. In addition, the book will be useful to researchers in the financial markets and also advanced Masters-level students who are writing dissertations.
Author: Matteo Pozzoli
Publisher: Springer
ISBN: 3319673556
Category : Business & Economics
Languages : en
Pages : 55
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Book Description
This book explores methods and techniques to predict and eventually prevent financial distress in corporations. It analyzes the effects of the global financial crisis on Italian manufacturing companies and, more specifically, whether the crisis has increased the number of firms that are likely to fail. In the first chapter, the authors widely discuss the Corporate Financial Distress as well as the process and costs incurred. The second chapter is based on a review of the most used statistical models, splitting them into accounting-based and market-based models. The following chapter is dedicated to the methodology and the empirical analysis on Italian manufacturing companies from different industries. The last chapter presents practical evidence from Italian manufacturing companies during the recent financial crisis.
Author: Błażej Prusak
Publisher: MDPI
ISBN: 303928911X
Category : Business & Economics
Languages : en
Pages : 202
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Book Description
Bankruptcy prediction is one of the most important research areas in corporate finance. Bankruptcies are an indispensable element of the functioning of the market economy, and at the same time generate significant losses for stakeholders. Hence, this book was established to collect the results of research on the latest trends in predicting the bankruptcy of enterprises. It suggests models developed for different countries using both traditional and more advanced methods. Problems connected with predicting bankruptcy during periods of prosperity and recession, the selection of appropriate explanatory variables, as well as the dynamization of models are presented. The reliability of financial data and the validity of the audit are also referenced. Thus, I hope that this book will inspire you to undertake new research in the field of forecasting the risk of bankruptcy.
Author: Maryam Sheikhi
Publisher: LAP Lambert Academic Publishing
ISBN: 9783848486991
Category :
Languages : en
Pages : 140
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Book Description
The financial ratios coming out of financial statements can reflect some of the characteristics of companies in different aspects, but generally, it has been proved that weak management is the main cause of financial distress. So, the distress of companies can be the reflection of its management condition. Consequently the distress score of companies should be considered as a new variable in prediction of financial distress model. Among the methods applied to compare the efficiency of different statistic models, the ROC curves analysis are often used in the fields of psychology and bio-physics to measure a diagnosis test and to compare the performance of various models for two-category results. Therefore, concerning the topic of this research and the use of ROC curves in predicting the financial distress of corporations, current research aims at designing Logit model using the distress score of the corporations and investigates the predictability of this new variable. Also, a model based on the DEA is designed and finally for better analyzing the results are compared with the Logit models.
Author: You Hoo Tew
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
