Mixed logistic model with two independent random coefficients for financial crisis prediction: argentinean companies
Fil: Caro, Norma Patricia. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Científicas y Técnicas. Centro de Investigaciones en Ciencias Económicas; Argentina.
| Main Authors: | , , , |
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| Other Authors: | |
| Format: | info:eu-repo/semantics/publishedVersion |
| Language: | eng |
| Published: |
2024
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| Subjects: | |
| Online Access: | http://hdl.handle.net/11086/553193 https://www.inderscience.com/info/inarticle.php?artid=111228 |
| _version_ | 1808112603248984064 |
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| author | Caro, Norma Patricia Díaz, Margarita García, Fernando Porporato, Marcela |
| author2 | https://orcid.org/0000-0002-6271-870X |
| author_facet | https://orcid.org/0000-0002-6271-870X Caro, Norma Patricia Díaz, Margarita García, Fernando Porporato, Marcela |
| author_sort | Caro, Norma Patricia |
| collection | Repositorio Digital Universitario |
| description | Fil: Caro, Norma Patricia. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Científicas y Técnicas. Centro de Investigaciones en Ciencias Económicas; Argentina. |
| format | info:eu-repo/semantics/publishedVersion |
| id | rdu-unc.553193 |
| institution | Universidad Nacional de Cordoba |
| language | eng |
| publishDate | 2024 |
| record_format | dspace |
| spelling | rdu-unc.5531932024-08-07T22:12:05Z Mixed logistic model with two independent random coefficients for financial crisis prediction: argentinean companies Caro, Norma Patricia Díaz, Margarita García, Fernando Porporato, Marcela https://orcid.org/0000-0002-6271-870X https://orcid.org/0000-0002-1384-3862 https://orcid.org/0000-0002-2884-7428 Mixed logistic model Financial statements Financial ratios Financial distress Bankruptcy prediction Latin America Argentina Accounting info:eu-repo/semantics/publishedVersion Fil: Caro, Norma Patricia. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Científicas y Técnicas. Centro de Investigaciones en Ciencias Económicas; Argentina. Fil: Díaz, Margarita. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Científicas y Técnicas. Centro de Investigaciones en Ciencias Económicas; Argentina. Fil: García, Fernando. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Científicas y Técnicas. Centro de Investigaciones en Ciencias Económicas; Argentina. Fil: Porporato, Marcela. York University. School of Administrative Studies; Canadá. Fil: Porporato, Marcela. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas, Argentina. The paper develops a mixed logistic financial distress prediction model with two independent random coefficients and validates it for public Argentinean companies. This study complements existing literature on bankruptcy prediction in emerging economies advancing the application of contemporary econometric methods (Caro et al., 2013). Anticipating bankruptcy risks increases portfolios’ profitability. Emerging economies and frontier markets differ from developed economies in political, cultural, social and institutional terms. Given those differences, investors and lenders need specific bankruptcy and financial distress prediction models. The model developed achieves an excellent performance using financial statements from firms listed in the Buenos Aires Stock Exchange during 1993–2000 with ratios accepted in the literature (Altman, 1993; Jones and Hensher, 2004). Results show that profitability, assets turnover and cash flow from operations reduce the likelihood of financial distress while leverage increases it for companies operating in a frontier market such as Argentina. info:eu-repo/semantics/publishedVersion Fil: Caro, Norma Patricia. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Científicas y Técnicas. Centro de Investigaciones en Ciencias Económicas; Argentina. Fil: Díaz, Margarita. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Científicas y Técnicas. Centro de Investigaciones en Ciencias Económicas; Argentina. Fil: García, Fernando. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Científicas y Técnicas. Centro de Investigaciones en Ciencias Económicas; Argentina. Fil: Porporato, Marcela. York University. School of Administrative Studies; Canadá. Fil: Porporato, Marcela. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas, Argentina. Otras Economía y Negocios 2024-08-07T22:01:41Z 2024-08-07T22:01:41Z 2020-11 article 1752-8224 http://hdl.handle.net/11086/553193 1752-8232 https://www.inderscience.com/info/inarticle.php?artid=111228 10.1504/IJAF.2020.111228 eng Atribución – No Comercial – Sin Obra Derivada 4.0 Internacional http://creativecommons.org/licenses/by-nc-nd/4.0/ Impreso |
| spellingShingle | Mixed logistic model Financial statements Financial ratios Financial distress Bankruptcy prediction Latin America Argentina Accounting Caro, Norma Patricia Díaz, Margarita García, Fernando Porporato, Marcela Mixed logistic model with two independent random coefficients for financial crisis prediction: argentinean companies |
| title | Mixed logistic model with two independent random coefficients for financial crisis prediction: argentinean companies |
| title_full | Mixed logistic model with two independent random coefficients for financial crisis prediction: argentinean companies |
| title_fullStr | Mixed logistic model with two independent random coefficients for financial crisis prediction: argentinean companies |
| title_full_unstemmed | Mixed logistic model with two independent random coefficients for financial crisis prediction: argentinean companies |
| title_short | Mixed logistic model with two independent random coefficients for financial crisis prediction: argentinean companies |
| title_sort | mixed logistic model with two independent random coefficients for financial crisis prediction argentinean companies |
| topic | Mixed logistic model Financial statements Financial ratios Financial distress Bankruptcy prediction Latin America Argentina Accounting |
| url | http://hdl.handle.net/11086/553193 https://www.inderscience.com/info/inarticle.php?artid=111228 |
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