Using Financial Ratios to Identify Romanian Distressed Companies
AbstractIn the context of the current financial crisis, when more companies are facing bankruptcy or insolvency, the paper aims to find methods to identify distressed firms by using financial ratios. The study will focus on identifying a group of Romanian listed companies, for which financial data for the year 2008 were available. For each company a set of 14 financial indicators was calculated and then used in a principal component analysis, followed by a cluster analysis, a logit model, and a CHAID classification tree.
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Bibliographic InfoPaper provided by arXiv.org in its series Papers with number 1001.1446.
Date of creation: Jan 2010
Date of revision:
Publication status: Published in Economy Journal - Series Management, vol. 12, special issue no. 1, pp. 46-55, 2009
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Web page: http://arxiv.org/
Other versions of this item:
- ANDREICA Madalina Ecaterina & ANDREICA Mugurel Ionut & ANDREICA Marin, 2009. "Using financial ratios to identify Romanian distressed companies," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 12(1 Special), pages 46-55, July.
- Madalina Andreica & Mugurel Ionut Andreica & Marin Andreica, 2009. "Using Financial Ratios to Identify Romanian Distressed Companies," Post-Print, HAL hal-00474278, HAL.
- G01 - Financial Economics - - General - - - Financial Crises
- G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
- C40 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - General
- C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
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- Shumway, Tyler, 2001. "Forecasting Bankruptcy More Accurately: A Simple Hazard Model," The Journal of Business, University of Chicago Press, University of Chicago Press, vol. 74(1), pages 101-24, January.
- Scott, James, 1981. "The probability of bankruptcy: A comparison of empirical predictions and theoretical models," Journal of Banking & Finance, Elsevier, Elsevier, vol. 5(3), pages 317-344, September.
- Eisenbeis, Robert A, 1977. "Pitfalls in the Application of Discriminant Analysis in Business, Finance, and Economics," Journal of Finance, American Finance Association, American Finance Association, vol. 32(3), pages 875-900, June.
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