We present a new approach to evaluation of bankruptcy risk of firms based on the rough set theory. The concept of a rough set appeared to be an effective tool for the analysis of information systems representing knowledge gained by experience. The financial information system describes a set of...

The paper deals with issues associated with identification of stocks generating abnormal returns. Following the findings of a finance theory regarding portfolio tilting, a set of price-related stocks' attributes was analyzed. The analysis was conducted with the help of rough sets methodology...

This paper attempts to identify characteristics of biodiversity and other (forest) ecosystem conditions that are considered essential for a description of ecosystem functioning and development of sustainable forest management practices in the Siberian forests. This is accomplished through an...

Cooperatives constitute a "creation" of the social necessity for equal opportunities in the production and disposal of products. Nevertheless, the development and redistributive role of cooperatives in Crete has become open to controversy throughout the recent years, due to the problems of...

The emergence of many new markets in fast-growing regions presents fertile areas for investment growth but also an abundance of obvious and hidden risks. A framework is developed for assessing investment risk in foreign countries. Both multi-variate statistical methods and multi-criteria...

The evaluation of the performance of mutual funds has been a very interesting research topic for not only researchers, but also for managers of financial, banking and investment institutions. In this study a well-known MCDA method based on the theory of outranking relations, the PROMETHEE II...

Firms with good management practices optimize and synthesize human resources, leadership, and technical and conceptual skills to enhance firm value. In this paper, we examine the role of management practices in merger and acquisition (M&A) decisions. M&A decisions are among the most important...

This study presents the first attempt to develop classification models for the prediction of share repurchases using multicriteria decision aid (MCDA) methods. The MCDA models are developed using two methods namely UTilités Additives DIScriminantes (UTADIS) and ELimination and Choice Expressing...

There is a growing literature that employs nonparametric frontier methods in order to evaluate the performance of investment funds. This paper proposes an integrated approach for analyzing the efficiency and performance of mutual funds. The methodology combines data envelopment analysis (DEA)...

Credit risk rating is a very important issue for both banks and companies, especially in periods of economic recession. There are many different approaches and methods which have been developed over the years. The aim of this paper is to create a credit risk rating model combining the...