Details van artikel 117 van 166 gevonden artikelen
Predicting corporate failure: empirical evidence for the UK
Titel:
Predicting corporate failure: empirical evidence for the UK
Auteur:
Charitou, Andreas Neophytou, Evi Charalambous, Chris
Verschenen in:
European accounting review
Paginering:
Jaargang 13 (2004) nr. 3 pagina's 465-497
Jaar:
2004-09
Inhoud:
The main purpose of this study is to examine the incremental information content of operating cash flows in predicting financial distress and thus develop reliable failure prediction models for UK public industrial firms. Neural networks and logit methodology were employed to a dataset of fifty-one matched pairs of failed and non-failed UK public industrial firms over the period 1988-97. The final models are validated using an out-of-sample-period ex-ante test and the Lachenbruch jackknife procedure. The results indicate that a parsimonious model that includes three financial variables, a cash flow, a profitability and a financial leverage variable, yielded an overall correct classification accuracy of 83% one year prior to the failure. In summary, our models can be used to assist investors, creditors, managers, auditors and regulatory agencies in the UK to predict the probability of business failure.
Uitgever:
Routledge
Bronbestand:
Elektronische Wetenschappelijke Tijdschriften
Details van artikel 117 van 166 gevonden artikelen