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Graphical data representation in bankruptcy analysis

Härdle, Wolfgang (contributor); … - 2006

Graphical data representation is an important tool for model selection in bankruptcy analysis since the problem is highly non-linear and its numerical representation is much less transparent. In classical rating models a convenient representation of ratings in a closed form is possible reducing...

Persistent link: https://www.econbiz.de/10003324316

Estimating probabilities of default with support vector machines

Härdle, Wolfgang (contributor); Moro, Rouslan (contributor) - 2007

This paper proposes a rating methodology that is based on a non-linear classification method, the support vector machine, and a non-parametric technique for mapping rating scores into probabilities of default. We give an introduction to underlying statistical models and represent the results of...

Persistent link: https://www.econbiz.de/10003633940

The default risk of firms examined with smooth support vector machines

Härdle, Wolfgang; Lee, Yuh-Jye; Schäfer, Dorothea; … - 2008

In the era of Basel II a powerful tool for bankruptcy prognosis is vital for banks. The tool must be precise but also easily adaptable to the bank's objections regarding the relation of false acceptances (Type I error) and false rejections (Type II error). We explore the suitability of Smooth...

Persistent link: https://www.econbiz.de/10003636001

Are private equity investors good or evil?

Badunenko, Oleg; Barasinska, Nataliya; Schäfer, Dorothea - 2009

The paper investigates the motives of activity (entry and exit) of Private Equity (PE) investors in European companies. Investment of a PE firm is not viewed unambiguously. First, it is claimed that PE investment is made for the sake of seeking short-term gains by taking control and utilizing...

Persistent link: https://www.econbiz.de/10003858716

Does the tenure of private equity investment improve the performance of European firms?

Badunenko, Oleg; Baum, Christopher F.; Schäfer, Dorothea - 2010

their performance. Previous studies documented the unambiguous merit of a buyout during the 1980s and 1990s for listed firms …-2007. Our analysis suggests that shortterm PE investments have, on average, a detrimental effect on firm performance. The … performance of a firm that has PE backing is lower than that of a firm without PE backing in the first year of PE investment. Such …

Persistent link: https://www.econbiz.de/10003949498