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Predicting Financial Distress In The Australian Financial Service Industry

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  • JULIANA YIM
  • HEATHER MITCHELL
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    Abstract

    This paper looks at the ability of a relatively new technique, a non-linear extension of the Granger thick model concept, hybrid ANN's, to predict failure of financial service firms in Australia. These models are compared with traditional statistical techniques and conventional ANN models. The results suggest that hybrid neural networks outperform all other models in predicting failure for up to two years prior to the event. This suggests that for researchers, policymakers and others interested in early warning systems, hybrid network may be a useful tool for predicting firm failure. Copyright 2007 The Authors Journal compilation 2007 Blackwell Publishing Ltd/ University of Adelaide and Flinders University .

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    Bibliographic Info

    Article provided by Wiley Blackwell in its journal Australian Economic Papers.

    Volume (Year): 46 (2007)
    Issue (Month): 4 (December)
    Pages: 375-388

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    Handle: RePEc:bla:ausecp:v:46:y:2007:i:4:p:375-388

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    Web page: http://www.blackwellpublishing.com/journal.asp?ref=0004-900X

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