Tóm tắt
Financial distress prediction is an important and practical research topic for many stakeholders and has attracted extensive studies over the past decades. This paper investigates the challenging issue of fiancial distress in Vietnam by distinguishing “healthy” companies from “fiancially distressed” companies using a data sample of fims listed on the Ho Chi Minh City Stock Exchange. Employing the logistic regression model to predict fiancial distress with a unique data set, we characterize the determinants of fiancial distress in terms of fim accounting and fiancial ratios over the period from 2007 to 2012. The results indicate that fiancial ratios can be employed as an early warning of fiancial distress as fiancial ratios are signifiantly correlated with the probability of fim fiancial distress.
Chủ đề
Financial distress, insolvency, logit
Nhà xuất bản
Kinh Tế Quốc Dân???dc.relation.reference???
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Altman, E.I. (1968), ‘Financial ratios, discriminant analysis and the prediction of corporate failure’, Journal of Finance, Vol. 23, No. 4, pp. 589-609. Altman, E.I., Haldeman, R.G. and Narayanan, P. (1977), ‘ZETA analysis A new model to identify bankruptcy risk of corporations’, Journal of Banking & Finance, Vol. 1, pp. 29-54. Altman, E.I. and Narayanan, P. (1996), ‘Business Failure Classifiation Models: An International Survey’, New York University, Leonard N. Stern School Finance Department Working Paper Seires. Andreev, Y.A. (2007), ‘Predicting fiancial distress of Spanish...See More
