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The Default Risk of Firms Examined with Smooth Support Vector Machines

Härdle, Wolfgang; Lee, Yuh-Jye; Schäfer, Dorothea; … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2007

In the era of Basel II a powerful tool for bankruptcy prognosis is vital for banks. The tool must be precise but also …

Persistent link: https://www.econbiz.de/10004963905

Corporate Debt Maturity Choice in Transition Financial Markets

Stephan, Andreas; Talavera, Oleksandr; Tsapin, Andriy - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008

This paper investigates the determinants of liability maturity choice in transition markets. We formulate a model of firm value maximization that describes managers' choice of optimal debt structure. The theoretical predictions are tested using a unique panel of 4,300 Ukrainian firms during the...

Persistent link: https://www.econbiz.de/10004963773

Support Vector Machines (SVM) as a Technique for Solvency Analysis

Auria, Laura; Moro, Rouslan A. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008

This paper introduces a statistical technique, Support Vector Machines (SVM), which is considered by the Deutsche Bundesbank as an alternative for company rating. A special attention is paid to the features of the SVM which provide a higher accuracy of company classification into solvent and...

Persistent link: https://www.econbiz.de/10004963659

Rating Companies with Support Vector Machines

Härdle, Wolfgang K.; Moro, Rouslan A.; Schäfer, Dorothea - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2004

support vector machine (SVM) - to the field of corporate bankruptcy analysis. The main emphasis is done on implementing SVMs …

Persistent link: https://www.econbiz.de/10004963932

Personal Bankruptcy Law, Wealth and Entrepreneurship: Theory and Evidence from the Introduction of a "Fresh Start"

Fossen, Frank M. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011

A personal bankruptcy law that allows for a "fresh start" after bankruptcy reduces the individual risk involved in … entrepreneurial activity. On the other hand, as risk shifts to creditors who recover less of their credit after a debtor's bankruptcy … forgiving personal bankruptcy law are less relevant for wealthy potential entrepreneurs who still risk losing their wealth, but …

Persistent link: https://www.econbiz.de/10008804165

A Profit-Maximizing Approach for Transmission Expansion Planning Using a Revenue-Cap Incentive Mechanism

Hesamzadeh, Mohammad Reza; Rosellón, Juan; Gabriel, … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2015

This paper proposes an incentive mechanism for transmission expansion planning. The mechanism is a bilevel program. The upper level is a profit-maximizing transmission company (Transco) which expands its transmission system while endogenously predicts and influences the generation investment....

Persistent link: https://www.econbiz.de/10011255282

The Cost of Climate Change to the German Fruit Vegetation Sector

Kemfert, Claudia; Kremers, Hans - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009

This paper applies the concept of damage coefficients introduced in Houba and Kremers (2008) to provide an estimate of the cost of climate change - in particular the cost of changes in mean regional temperature and precipitation - to the fruit vegetation sector. We concentrate on the production...

Persistent link: https://www.econbiz.de/10004963779

Nested Stochastic Possibility Frontiers with Heterogeneous Capital Inputs

Erber, Georg; Madlener, Reinhard - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2007

This paper studies the productivity impact of heterogeneous capital inputs of selected EU-15 member countries and of the U.S. at the macroeconomic level. The stochastic possibility frontiers approach of Battese and Coelli (1992) applied here is used to identify neutralities or non-neutralities...

Persistent link: https://www.econbiz.de/10004963835

Toward a Combined Merchant-Regulatory Mechanism for Electricity Transmission Expansion

Hogan, William; Rosellón, Juan; Vogelsang, Ingo - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010

Electricity transmission pricing and transmission grid expansion have received increasing regulatory and analytical attention in recent years. Since electricity transmission is a very special service with unusual characteristics, such as loop flows, the approaches have been largely tailor-made...

Persistent link: https://www.econbiz.de/10008490050

Product Policy and the East-West Productivity Gap: Evidence from German Manufacturing Firms

Görzig, Bernd; Gornig, Martin; Voshage, Ramona; … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009

After 20 years of transition from an economy integrated in an exchange scheme of planned economies towards an open market economy based on the ideas of competition, we ask whether East German firms succeeded in finding their place in the international division of labour. We concentrate on the...

Persistent link: https://www.econbiz.de/10008527282