TAILIEUCHUNG - Predictive ability of accounting ratio for bankruptcy

Among the most controversial issues in the literature, and empirical studies that have addressed the subject of bankruptcy prediction, there is certainly the understanding of what kind of indicators is most predictive in the report on time, and especially with fewer errors thorough a corporate crisis. In this regard, the present work contributes to the already vast literature that analyzes the determinants of the probability of firm default, with particular attention to the quantities contained in the accounting ratios. With the support of 9,390 Italian SMEs will occur the specific contribution of each ratio within each rating category considering, therefore, the predictive value of each explanatory variable. This survey’s results can even prove the predictive ability of capital structure and debt coverage compared to the minor validity of some indicators of turnover, profitability, and cash conversion cycle. | Journal of Applied Finance Banking vol. 5 no. 1 2015 19-33 ISSN 1792-6580 print version 1792-6599 online Scienpress Ltd 2015 Predictive Ability of Accounting Ratio for Bankruptcy Marco Muscettola1 Abstract Among the most controversial issues in the literature and empirical studies that have addressed the subject of bankruptcy prediction there is certainly the understanding of what kind of indicators is most predictive in the report on time and especially with fewer errors thorough a corporate crisis. In this regard the present work contributes to the already vast literature that analyzes the determinants of the probability of firm default with particular attention to the quantities contained in the accounting ratios. With the support of 9 390 Italian SMEs will occur the specific contribution of each ratio within each rating category considering therefore the predictive value of each explanatory variable. This survey s results can even prove the predictive ability of capital structure and debt coverage compared to the minor validity of some indicators of turnover profitability and cash conversion cycle. JEL classification numbers C13 C51 C53 G33 Keywords Credit Rating SME finance Default risk estimation model accuracy accounting ratio Discriminatory power 1 Introduction The first aim of this study is to develop an empirical application of credit risk modelling for privately held corporate firms. The second main objective is to display what is the specific contribution of each explanatory variable in the model of bankruptcy prediction. In recent decades many techniques occurred and many studies have been addressed by scholars throughout the world to clarify the most diverse aspects on the prediction of firms insolvencies. These models despite their specificity have in common the ability to select a subset of indicators that distinguish firms that become insolvent by healthy firms. So regardless of the different methods used over time it is possible to summarize this

• Tài chính doanh nghiệp
• Credit rating
• SME finance
• Default risk estimation
• Model accuracy
• Accounting ratio
• Discriminatory power
• Promoting credit rating in Vietnam
• Promoting credit rating
• Capital market deve
• Credit rating in Vietnam
• Capital market
• Credit risk management
• Financial risk components
• Bank risk management
• Credit scoring
• Credit ratings
• Rating system architecture
• Internal rating control committees
• Sovereign credit rating
• Credit rating agencies
• Credit risk indicators
• Credit ratings objective
• Sovereign risk indicators
• Summary of Doctoral thesis
• Factors affecting the credit rating
• The credit rating
• Commercial banks
• Developed and emerging economies
• Summary of thesis Doctor
• Summary of thesis Doctor of Economics
• Finance Banking
• Corporate credit rating market
• Credit rating market in Vietnam
• Foreign exchange market
• Sovereign rating
• Currency market
• Split sovereign ratings
• Rating models
• Risk management
• Basel II
• Credit limits
• Setting credit limits
• xếp hạng tín nhiệm DN
• tín nhiệm doanh nghiệp
• Corporate credit rating
• đặc điểm xếp hạng tín nhiệm
• tiêu chí đánh giá xếp hạng
• Portfolio models for credit risk
• Portfolio model formulations
• Loan loss distribution
• Portfolio loss distribution
• Credit risk
• Logistic regression
• European SMES manufacturing sector
• Statistical approaches
• Credit risk evaluation
• opportunities
• capital structures supported
• Geopolymer Composite
• Fire Resistance
• Features and Applications
• Natural Sources
• thuật ngữ tài chính
• tài liệu ngân hàng
• Chỉ Số Tín Nhiệm
• chỉ số Z
• Cơ cấu vay vốn
• Volatile Constituents
• Herbal Medicines
• Gas Chromatography
• Designing Novel Functional
• Chromatography
• Chemical Composition
• Changing Business
• Finding the Green
• Based Immune
• Cell Homeostasis
• Oxidative Stress
• Health and Disease
• Withholding Law
• Holding Period
• Vein Stenosis
• Recurrent Pancreatic Cancer
• Pancreatic Neuroendocrine Tumors
• Management Paradigm
• Urban Residues
• Composite Natural Material
• Wood Polymer Composites
• Engineered Membranes
• Transporters
• Useful Devices
• Post Translational
• Nuclear Proteins
• Obstructive
• Non Obstructive Azoosperm
• Gene Mutations
• Associated with Male Infertility
• Shariah compliant
• investors and financiers
• Early Detection
• Clinical Setting
• Prevention and Early Detection
• Chemotherapy Strategies
• equally affected
• Constitutional
• fibrosis and calcification
• Pleural effusion
• empyema thoracis
• extrapulmonary despite
• Asymptotic Expansion
• Homogenisation and Multiscale
• Topology Optimisation
• Composite Structures
• constituent materials
• materials and structure
• Progesterone Resistance
• Resistance and Targeting
• Progesterone Receptors
• Involvement
• Prostaglandins
• Pathophysiology of Endometriosis
• Public companies
• substantial proportion
• global environmental
• inefficient resource
• society organizations
• Environment and Development
• Future Potentials
• Natural Fiber Polymer
• Composites Technology Applied
• Recovery and Protection
• Tropical Forests
• Industrial and Urban
• VOLATILITY COMPARISONS
• OPTION CALIBRATION
• thesis
• internship reports
• project course
• graduate thesis