An Investigation Of The Use Of Market And Industry Data In Financial Distress Modelling
DOWNLOAD
Download An Investigation Of The Use Of Market And Industry Data In Financial Distress Modelling PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get An Investigation Of The Use Of Market And Industry Data In Financial Distress Modelling book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
An Investigation Of The Use Of Market And Industry Data In Financial Distress Modelling
DOWNLOAD
Author : Iain David Watson
language : en
Publisher:
Release Date : 1995
An Investigation Of The Use Of Market And Industry Data In Financial Distress Modelling written by Iain David Watson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with categories.
A Preliminary Investigation Of The Use Of Market And Industry Data In Financial Failure Models
DOWNLOAD
Author : Iain D. Watson
language : en
Publisher:
Release Date : 1995
A Preliminary Investigation Of The Use Of Market And Industry Data In Financial Failure Models written by Iain D. Watson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Bankruptcy categories.
Applications And Innovations In Intelligent Systems Viii
DOWNLOAD
Author : British Computer Society. Specialist Group on Expert Systems. International Conference
language : en
Publisher: Springer Science & Business Media
Release Date : 2001-01-10
Applications And Innovations In Intelligent Systems Viii written by British Computer Society. Specialist Group on Expert Systems. International Conference and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-01-10 with Computers categories.
The papers in this volume are the Applications papers presented at ES 2000, the Twentieth SGES International Conference on Knowledge Based Systems and Applied Artificial Intelligence, held in Cambridge in December 2000. The scope of the Application papers has expanded over recent years to cover not just innovative applications using traditional knowledge based systems, but also to include applications demonstrating the whole range of AI technologies. These papers continue to illustrate the maturity of AI as a commercially viable technology to solve real world problems. This is the eighth volume in the Applications and Innovations in Intelligent Systems series. The series serves as a key reference as to how AI technology has enabled organisations to solve complex problems and gain significant business benefits. The Technical Stream papers from ES 200 are published as a companion volume under the title Research and Development in Intelligent Systems XVII.
Modeling Financial Distress
DOWNLOAD
Author : Rinaldo Sjahrial
language : en
Publisher:
Release Date : 2017
Modeling Financial Distress written by Rinaldo Sjahrial and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
The existing financial distress models vary in their prediction accuracy. Some well known models are Altman, CAMEL, NPL, and Take Over Models, which involve around 6 financial ratios. Possible sources are different uses of composition ratio, different Industry specification, the level of data aggregation, and possibly due to different timescales. On the account of these conditions, this study aims to obtain a more precise prediction on financial distress focusing on CAMEL ratio. This research applies panel estimation model on assessing the financial distress in Indonesia banking, covering monthly periods of 2002 to 2013, the sample consist of 21 banks. The analysis technique used is a binary logit regression. The result shows that ROA and BOPO have some significant effect, while CAR, NPL and LDR have no significant effect on the financial distress. We expect this research will contribute solid foundation for authority monetary in guiding the financial industry. As for the practitioners, we expect this research will provide them clearer indicator to choose rational decision within the market.
Modelling And Forecasting High Frequency Financial Data
DOWNLOAD
Author : Stavros Degiannakis
language : en
Publisher: Springer
Release Date : 2016-04-29
Modelling And Forecasting High Frequency Financial Data written by Stavros Degiannakis and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-29 with Business & Economics categories.
The global financial crisis has reopened discussion surrounding the use of appropriate theoretical financial frameworks to reflect the current economic climate. There is a need for more sophisticated analytical concepts which take into account current quantitative changes and unprecedented turbulence in the financial markets. This book provides a comprehensive guide to the quantitative analysis of high frequency financial data in the light of current events and contemporary issues, using the latest empirical research and theory. It highlights and explains the shortcomings of theoretical frameworks and provides an explanation of high-frequency theory, emphasising ways in which to critically apply this knowledge within a financial context. Modelling and Forecasting High Frequency Financial Data combines traditional and updated theories and applies them to real-world financial market situations. It will be a valuable and accessible resource for anyone wishing to understand quantitative analysis and modelling in current financial markets.
Financial Statement Analysis And The Prediction Of Financial Distress
DOWNLOAD
Author : William H. Beaver
language : en
Publisher: Now Publishers Inc
Release Date : 2011
Financial Statement Analysis And The Prediction Of Financial Distress written by William H. Beaver and has been published by Now Publishers Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.
Financial Statement Analysis and the Prediction of Financial Distress discusses the evolution of three main streams within the financial distress prediction literature: the set of dependent and explanatory variables used, the statistical methods of estimation, and the modeling of financial distress. Section 1 discusses concepts of financial distress. Section 2 discusses theories regarding the use of financial ratios as predictors of financial distress. Section 3 contains a brief review of the literature. Section 4 discusses the use of market price-based models of financial distress. Section 5 develops the statistical methods for empirical estimation of the probability of financial distress. Section 6 discusses the major empirical findings with respect to prediction of financial distress. Section 7 briefly summarizes some of the more relevant literature with respect to bond ratings. Section 8 presents some suggestions for future research and Section 9 presents concluding remarks.
Accounting And Information Theory
DOWNLOAD
Author : Baruch Lev
language : en
Publisher:
Release Date : 1969
Accounting And Information Theory written by Baruch Lev and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1969 with Accounting categories.
Powering The Digital Economy Opportunities And Risks Of Artificial Intelligence In Finance
DOWNLOAD
Author : El Bachir Boukherouaa
language : en
Publisher: International Monetary Fund
Release Date : 2021-10-22
Powering The Digital Economy Opportunities And Risks Of Artificial Intelligence In Finance written by El Bachir Boukherouaa and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-22 with Business & Economics categories.
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
A Three Tier Approach To Determine Financial Distress Of Companies Listed On The Johannesburg Stock Exchange
DOWNLOAD
Author : Sibusiso Wellington Sabela
language : en
Publisher:
Release Date : 2016
A Three Tier Approach To Determine Financial Distress Of Companies Listed On The Johannesburg Stock Exchange written by Sibusiso Wellington Sabela and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Business failures categories.
This study presents a three-tiered approach to determine financial distress in companies listed on the Johannesburg Stock Exchange. The objective of this unique approach is to contribute to the existing knowledge base in the study of financial distress prediction. The three-tiered approach sees the development of a: (i) basic model, (ii) Merton model, and (iii) hybrid model. The basic model is further split in three phases. In the first phase the model is based on fundamental data; the second phase adds market variables; and the third phase adds macroeconomic indicators. The first phase points to various company specific ratios, the second phase points to various market based ratios and the third phase points to external economic indicators. Pioneered by Merton (1974:449), the Merton model is a structural model with its framework adopted from the Black-Scholes option pricing methodology. Therefore, the hybrid model is a combination of the basic and Merton models. This study explores the effectiveness of a hybrid model, in which both the fundamental and market data are used as input variables. This combination is intended to enhance the predictive power of a company's default event, given that both variables convey company-specific credit risk information that is not considered by the other. In developing the basic model, this study focuses on exploring a multinomial approach where companies are categorised in three groups: distressed, depressed and healthy. This is in line with the thinking that failure does not affect companies immediately, but is rather a process. Healthy companies go through a depression phase before they actually fail. The statistical technique of choice for the basic and hybrid models is the multinomial logistic regression. This technique is chosen on its strength over alternatives like multi-discriminant analysis, with the nature of data being the driving force. Certain statistical tests were performed on the data, like the Kolmogorov-Smirnov and Shapiro-Wilk statistical tests of data normality. The sample of companies used in the present study is categorised as follows; 8% distressed, 14% depressed, and 78% healthy. Given that the percentage number of companies in each category is not equal, the statistical integrity of multi-discriminant analysis would be grossly compromised. The Merton model is based on the formula as derived by its pioneer. This mathematical formula uses five estimated variables: asset value, asset volatility, debt level, risk-free rate, and time. The fundamental assumption of structural models is that there is a cause-effect, economically motivated reason why firms default. Default is highly likely to occur when the market value of a firm's assets is insufficient to cover its liabilities in the future. This balance sheet approach to measuring risk means that the market-based models share common ground with fundamental models in credit analysis. However, a major advantage of market-based models over the fundamental approach is that they provide both timely warning of changes in credit risk and an up-to-date view of a firm's value. This view is given on the basis that market prices are indicative of future cash flows of the business. The most important motivation to study both these models and further develop a hybrid model within the South African market is the lack of such academic research in the local academic domain. Therefore, this uniquely positions the study where the distress probability is studied by applying both fundamental and market data. This study also aims to investigate which of the two models is better at differentiating defaulting and non-defaulting firms. In this way, the study assesses the extent to which different failure prediction models may yield significantly different rankings for the same firm. Furthermore, the study explores the extent of gains (if any) that can be realised by combining the two models' predictions. The present study is based on information sourced from the Johannesburg Stock Exchange, INET BFA, South African Reserve Bank and other relevant academic material. To be included in the sample, firms are required to have a minimum listing period of at least 24 months to ensure that the firm's market price reflects the market's collective opinion of the prospect of its business. For purposes of the fundamental data, companies are required to have existed for at least five years to be included in sample. The economic period under review in this study is 2005-2014. The 2014 cut-off is set to ensure the availability of financial statements. The study has a sample size of 100 companies, consisting of eight distressed, 14 classified as depressed, and 78 healthy.
Efficiency And Productivity Growth
DOWNLOAD
Author : Fotios Pasiouras
language : en
Publisher: John Wiley & Sons
Release Date : 2013-03-21
Efficiency And Productivity Growth written by Fotios Pasiouras and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-21 with Mathematics categories.
An authoritative introduction to efficiency and productivity analysis with applications in both the banking and finance industry In light of the recent global financial crisis, several studies have examined the efficiency of financial institutions. A number of open questions remain and this book reviews recent issues and state-of-the-art techniques in the assessment of the efficiency and productivity of financial institutions. Written by an international team of experts, the first part of the book links efficiency with a variety of topics like Latin American banking, market discipline and governance, economics of scale, off-balance-sheet activities, productivity of foreign banks, mergers and acquisitions, and mutual fund ratings. The second part of the book compares existing techniques and state-of-the-art techniques in the bank efficiency literature, including among others, network data envelopment analysis and quantile regression. The book is suitable for academics and professionals as well as postgraduate research students working in banking and finance. Efficiency and Productivity Growth: Provides an authoritative introduction to efficiency and productivity analysis with applications in both the banking and mutual funds industry such as efficiency of Asian banks, cooperatives and not-for-profit credit associations. Explores contemporary research issues in the area of efficiency and productivity measurement in the financial sector. Evaluates the most suitable approaches to selecting inputs and outputs as well as selecting the most efficient techniques, such as parametric and non-parametric, to estimate the models.