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The Default Risk of Firms Examined with Smooth Support Vector Machines

Härdle, Wolfgang; Lee, Yuh-Jye; Schäfer, Dorothea; … - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2007

In the era of Basel II a powerful tool for bankruptcy prognosis isvital for banks. The tool must be precise but also easily adaptable tothe bank's objections regarding the relation of false acceptances (TypeI error) and false rejections (Type II error). We explore the suitabil-ity of Smooth...

Persistent link: https://www.econbiz.de/10005860752

Ein Vergleich des binären Logit-Modells mit künstlichen neuronalen Netzen zurInsolvenzprognose anhand relativer Bilanzkennzahlen

Franken, Ronald - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2007

Jahresabschlüssen von Kapitalgesellschaften abgeleitet werden können. In der aktuellen Praxis der empirischen Insolvenz- und …

Persistent link: https://www.econbiz.de/10005860996

Estimating Probabilities of Default With Support Vector Machines

Härdle, Wolfgang; Moro, Rouslan; Schäfer, Dorothea - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2007

This paper proposes a rating methodology that is based on a non-linear classification method, the support vector machine, and a non-parametric technique for mapping rating scores into probabilities of default. We give an introduction to underlying statistical models and represent the results of...

Persistent link: https://www.econbiz.de/10005861009

Estimation of Default Probabilities with Support Vector Machines

Shiyi, Chen; Härdle, Wolfgang K.; Moro, Rouslan Arthur - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2006

Predicting default probabilities is important for firms and banks to operate successfully and to estimate their specific risks. There are many reasons to use nonlinear techniques for predicting bankruptcy from financial ratios. Here we propose the so called Support Vector Machine (SVM) to...

Persistent link: https://www.econbiz.de/10005861245

The limited liability effect in experimental duopoly markets

Oechssler, Jörg; Schuhmacher, Frank - RWTH <Aachen> / Lehrstuhl für … - 2003

This article tests the modell of Brander and lewis under ertrand and Cournot competition.

Persistent link: https://www.econbiz.de/10005840866

Personal Bankruptcy Law, Wealth andEntrepreneurship: Theory and Evidencefrom the Introduction of a “Fresh Start”

Fossen, Frank M. - Institut zur Zukunft der Arbeit <Bonn> - 2011

A personal bankruptcy law that allows for a “fresh start” after bankruptcy reduces theindividual risk involved in entrepreneurial activity. On the other hand, as risk shifts to creditorswho recover less of their credit after a debtor’s bankruptcy, lenders may charge higherinterest rates or...

Persistent link: https://www.econbiz.de/10009360549

Insolvenzrechtsreform und dieTheorie der Unternehmensfinanzierung

Breuer, Wolfgang; Haupt, Martin - RWTH <Aachen> / Lehrstuhl für … - 2002

The newly established German insolvency law has become effective since January 1st,1999. At first, we outline the … objectives followed up by the legislator with this insolvency law reform,the general measures taken to these ends, and the degree … alternative conditionsfor insolvency have been redefined. We examine more precisely the welfare-theoretical consequencesof these …

Persistent link: https://www.econbiz.de/10005858830

Ex-Ante vs. Ex-Post Efficiencyin Personal Bankruptcy Proceedings

Steiger, Eva-Maria - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006

Amidst a sharp increase in household debt levels, many countries have substantially reformedtheir consumer bankruptcy regulations. I first classify the mechanisms triggered by current U.S.and European bankruptcy regulations and then evaluate these mechanisms within a hidden actionmodel. I...

Persistent link: https://www.econbiz.de/10005866701

Of bail-outs and bankruptcies

Jostarndt, Philipp - Universität <München> / Fakultät für Betriebswirtschaft - 2006

workoutwhile the other half fail and file an insolvency petition under the new bankruptcycode. Our evidence suggests that firms …

Persistent link: https://www.econbiz.de/10005869380

Graphical Data Representation in Bankruptcy Analysis

Härdle, Wolfgang K.; Moro, Rouslan Arthur; Schäfer, … - Sonderforschungsbereich Ökonomisches Risiko <Berlin>

Graphical data representation is an important tool for model selection in bankruptcy analysis since the problem is highly non-linear and its numericalrepresentation is much less transparent. In classical rating models a convenientrepresentation of ratings in a closed form is possible reducing...

Persistent link: https://www.econbiz.de/10005854715

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