EARLY WARNING MODELS FOR FINANCIAL DISTRESS: THE CASE OF THE ROMANIAN COMPANIES

被引：0

作者：

Andreica, Madalina Ecaterina ^{[1
]}

机构：

[1] Bucharest Acad Econ Studies, Bucharest, Romania

来源：

METALURGIA INTERNATIONAL | 2009年 / 14卷

关键词：

financial distress; the logit model; the hazard model; early warning models; DISCRIMINANT-ANALYSIS; BANKRUPTCY; PREDICTION; RATIOS;

D O I：

暂无

中图分类号：

TF [冶金工业];

学科分类号：

0806 ;

摘要：

The study consists in collecting financial data for a group of distressed and non-distressed Romanian listed companies during 2006-2008, in order to create early warning signals for financial distressed companies using the Logistic and the Hazard models. For each company a set of 14 financial ratios, reflecting the company's profitability, solvency, asset utilization, growth ability and size, were calculated and then used in the study. Several data sets were separately analyzed in order to predict distress 1 year, 2 and 3-years ahead. The results are consistent with the theory and also to previous studies and the out-of-sample forecast accuracy of the models indicates that the proposed early warning models for the Romanian companies are quite efficient.

引用

页码：174 / 178

页数：5

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