Showing 1 - 10 of 2,566
. -- Logistische Regression ; Varablenauswahl ; Insolvenzprognose ; Bilanzanalyse ; bilanzielle Kennzahl ; Liquidität ; Solvenz …
Persistent link: https://www.econbiz.de/10003635001
In many economic applications it is desirable to make future predictions about the financial status of a company. The focus of predictions is mainly if a company will default or not. A support vector machine (SVM) is one learning method which uses historical data to establish a classification...
Persistent link: https://www.econbiz.de/10003973650
This study analyses credit default risk for firms in the Asian and Pacific region by applying two methodologies: a Support Vector Machine (SVM) and a logistic regression (Logit). Among different financial ratios suggested as predictors of default, leverage ratios and the company size display a...
Persistent link: https://www.econbiz.de/10009125559
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/10003633940
Corporate distress models typically only employ the numerical financial variables in the firms' annual reports. We develop a model that employs the unstructured textual data in the reports as well, namely the auditors' reports and managements' statements. Our model consists of a convolutional...
Persistent link: https://www.econbiz.de/10011930209
This document describes the development of a financial health indicator based on companies' financial statements. This indicator is conceived as a weighted combination of variables, which is obtained through a model discriminating between failing firms and non-failing firms. The definition of...
Persistent link: https://www.econbiz.de/10011596313
Many countries' insolvency systems focus on restructuring financial liabilities, and ignore operational liabilities … such as leases and long-term supplier contracts. We model insolvency procedures with and without operational restructuring … operating restructuring is a key aspect of insolvency. …
Persistent link: https://www.econbiz.de/10014393394
For nearly two years, the two of us have had a running discussion of the costs and benefits of automatic stays in bankruptcy for qualified financial contracts (QFCs) such as derivatives and repurchase agreements, particularly those held by systemically important major dealer banks. Under current...
Persistent link: https://www.econbiz.de/10009504439
Intuition suggests that firms with higher cash holdings should be 'safer' and have lower credit spreads. Yet empirically, the correlation between cash and spreads is robustly positive. This puzzling finding can be explained by the precautionary motive for saving cash, which in our model causes...
Persistent link: https://www.econbiz.de/10010206259
This paper analyzes whether the financial distress of a firm affects the investment decisions of non-distressed competitors. On average, firms in distress impose indirect costs to non-distressed competitors by increasing costs of credit in the industry and hence restricting credit access and...
Persistent link: https://www.econbiz.de/10010410806