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Ein Vergleich des binären Logit-Modells mit künstlichen neuronalen Netzen zur Insolvenzprognose anhand relativer Bilanzkennzahlen
Franken, Ronald (contributor) - 2007
Die Prognose der Insolvenzgefährdung von Unternehmen anhand statistischer Methodik war und ist eine bedeutende Aufgabe … die sog. externe Bilanzanalyse anhand verschiedener relativer Kennzahlen(-systeme) dar, welche aus den veröffentlichten … Jahresabschlüssen von Kapitalgesellschaften abgeleitet werden können. In der aktuellen Praxis der empirischen Insolvenz- und …
Persistent link: https://www.econbiz.de/10003634014
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Kombinierte Liquiditäts- und Solvenzkennzahlen und ein darauf basierendes Insolvenzprognosemodell für deutsche GmbHs
Perederiy, Volodymyr (contributor) - 2007
. -- Logistische Regression ; Varablenauswahl ; Insolvenzprognose ; Bilanzanalyse ; bilanzielle Kennzahl ; Liquidität ; Solvenz …
Persistent link: https://www.econbiz.de/10003635001
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Learning machines supporting bankruptcy prediction
Härdle, Wolfgang; Moro, Rouslan; Hoffmann, Linda - 2010
In many economic applications it is desirable to make future predictions about the financial status of a company. The focus of predictions is mainly if a company will default or not. A support vector machine (SVM) is one learning method which uses historical data to establish a classification...
Persistent link: https://www.econbiz.de/10003973650
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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
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Determinants of acquisition and failure : stylized facts and lessons for empirical studies
Köke, F. Jens - 2001
This study provides new stylized facts on the determinants of corporate failure and acquisition in Germany. It also offers important lessons for the design of empirical studies. We show that firms experiencing failure or acquisition are significantly different from surviving firms on a number of...
Persistent link: https://www.econbiz.de/10011446202
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Default Risk in Corporate Yield Spreads
Dionne, Georges - 2010
An important research question examined in the credit risk literature focuses on the proportion of corporate yield spreads attributed to default risk. This topic is reexamined in the light of the different issues associated with the computation of transition and default probabilities obtained...
Persistent link: https://www.econbiz.de/10012717692
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The Performance of Acquisitions by High Default Risk Bidders
Bruyland, Evy - 2019
We investigate the takeover strategies of high default risk acquirers and their value impact. We find that these bidders select bigger, less profitable and unrelated targets, pursue transactions during recessions, and pay with shares by offering target shareholders high premiums. Their long-term...
Persistent link: https://www.econbiz.de/10012894337
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The Balance of Power between Creditors and the Firm : Evidence from German Insolvency Law
Closset, Frédéric - 2019
In 2011, German legislators passed the latest reform to German Insolvency Law (ESUG). ESUG mandates that creditors of … larger firms can exert more influence on the appointment of the insolvency administrator, resulting in a shift of power from …
Persistent link: https://www.econbiz.de/10012899200
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Forecasting Corporate Defaults in the German Stock Market
Mertens, Richard - 2016
We estimate and test several default risk models using new and unique data on corporate defaults in the German stock market. While defaults were extremely rare events in the 1990s, they have been a characteristic feature of the German stock market since the early 2000s. We apply the structural...
Persistent link: https://www.econbiz.de/10012983935
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Corporate Restructuring and Creditor Power : Evidence from European Insolvency Law Reforms
Closset, Frédéric; Großmann, Christoph; Kaserer, … - 2021
In an attempt to match US bankruptcy law, many European countries have reformed their insolvency laws towards a regime … difference-in-differences analysis around eight insolvency reforms in 15 European countries, this paper finds a relative increase …. Overall, the results are consistent with the view that creditors may be negatively affected by insolvency law reforms oriented …
Persistent link: https://www.econbiz.de/10013244320