메뉴 건너뛰기




Volumn 9, Issue 2, 2000, Pages 147-162

The identification of U.K. takeover targets using published historical cost accounting data Some empirical evidence comparing logit with linear discriminant analysis and raw financial ratios with industry-relative ratios

Author keywords

Acquisitions; Discriminant analysis; G34; Logit; Mergers; Prediction; Takeovers

Indexed keywords


EID: 0042227938     PISSN: 10575219     EISSN: None     Source Type: Journal    
DOI: 10.1016/S1057-5219(00)00022-3     Document Type: Article
Times cited : (54)

References (32)
  • 1
    • 84978556349 scopus 로고
    • Methodological implications of non-normally distributed financial ratios
    • Barnes P. Methodological implications of non-normally distributed financial ratios. Journal of Business Finance and Accounting. 9:1982;51-62.
    • (1982) Journal of Business Finance and Accounting , vol.9 , pp. 51-62
    • Barnes, P.1
  • 2
    • 0042553290 scopus 로고    scopus 로고
    • Can Takeover targets be identified by statistical techniques: Some UK evidence
    • Barnes P. Can Takeover targets be identified by statistical techniques. some UK evidence The Statistician. 47(4):1998;573-591.
    • (1998) The Statistician , vol.47 , Issue.4 , pp. 573-591
    • Barnes, P.1
  • 3
    • 84978587100 scopus 로고
    • Cross-sectional distributional patterns of financial ratios in Belgian manufacturing industries: Aggregation effects and persistence over time
    • Buijink W., Jergers M. Cross-sectional distributional patterns of financial ratios in Belgian manufacturing industries. aggregation effects and persistence over time Journal of Business Finance and Accounting. 13:1986;337-363.
    • (1986) Journal of Business Finance and Accounting , vol.13 , pp. 337-363
    • Buijink, W.1    Jergers, M.2
  • 4
    • 0003772859 scopus 로고
    • Using operating cash flows to predict financial distress: Some extensions
    • Casey C., Bartczak N. Using operating cash flows to predict financial distress. some extensions Journal of Accounting Research. 23:1985;384-401.
    • (1985) Journal of Accounting Research , vol.23 , pp. 384-401
    • Casey, C.1    Bartczak, N.2
  • 6
    • 0010689618 scopus 로고
    • Distributions of financial accounting ratios: Some empirical evidence
    • Deakin E. Distributions of financial accounting ratios. some empirical evidence The Accounting Review. 51:1976;90-96.
    • (1976) The Accounting Review , vol.51 , pp. 90-96
    • Deakin, E.1
  • 7
    • 84886193637 scopus 로고
    • The efficiency of logistic regression compared to normal discriminant analysis
    • Efron B. The efficiency of logistic regression compared to normal discriminant analysis. Journal of the American Statistical Association. 70:1975;892-898.
    • (1975) Journal of the American Statistical Association , vol.70 , pp. 892-898
    • Efron, B.1
  • 8
    • 84977404808 scopus 로고
    • Pitfalls in the application of discriminant analysis in business, finance and economics
    • Eisenbeis R.A. Pitfalls in the application of discriminant analysis in business, finance and economics. Journal of Finance. 32:1977;875-900.
    • (1977) Journal of Finance , vol.32 , pp. 875-900
    • Eisenbeis, R.A.1
  • 11
    • 0015094008 scopus 로고
    • Estimation of the multivariate logistic risk function: A comparison of the discriminant function and maximum likelihood approaches
    • Halperin M., Blackwelder W.C., Verter J.I. Estimation of the multivariate logistic risk function. a comparison of the discriminant function and maximum likelihood approaches Journal of Chronic Diseases. 24:1971;339-344.
    • (1971) Journal of Chronic Diseases , vol.24 , pp. 339-344
    • Halperin, M.1    Blackwelder, W.C.2    Verter, J.I.3
  • 12
    • 0001571041 scopus 로고
    • Failure prediction: Sensitivity of classification accuracy to alternative statistical methods and variable sets
    • Hamer M. Failure prediction. sensitivity of classification accuracy to alternative statistical methods and variable sets Journal of Accounting and Public Policy. 2:1983;289-307.
    • (1983) Journal of Accounting and Public Policy , vol.2 , pp. 289-307
    • Hamer, M.1
  • 13
    • 0042052418 scopus 로고
    • The impact of merger: A survey of empirical evidence for the UK
    • In J. Fairburn and J. Kay (Eds.), London: Oxford University Press
    • Hughes, A. (1989). The impact of merger: a survey of empirical evidence for the UK. In J. Fairburn and J. Kay (Eds.), Mergers and Merger Policy. London: Oxford University Press.
    • (1989) Mergers and Merger Policy
    • Hughes, A.1
  • 14
    • 0001097666 scopus 로고
    • Corporate distress in Australia
    • Izan H. Corporate distress in Australia. Journal of Banking and Finance. 8:1985;303-320.
    • (1985) Journal of Banking and Finance , vol.8 , pp. 303-320
    • Izan, H.1
  • 15
    • 34447504242 scopus 로고
    • The market for corporate control: The scientific evidence
    • Jensen M.T., Ruback R.S. The market for corporate control. the scientific evidence Journal of Financial Economics. 11:1983;5-50.
    • (1983) Journal of Financial Economics , vol.11 , pp. 5-50
    • Jensen, M.T.1    Ruback, R.S.2
  • 16
    • 0000641011 scopus 로고
    • Current techniques in bankruptcy prediction
    • Jones F.L. Current techniques in bankruptcy prediction. Journal of Accounting Literature. 6:1987;131-164.
    • (1987) Journal of Accounting Literature , vol.6 , pp. 131-164
    • Jones, F.L.1
  • 17
    • 0043054142 scopus 로고
    • Linear probability functions and discriminant functions
    • Ladd G.W. Linear probability functions and discriminant functions. Econometrica. 34:1966;873-885.
    • (1966) Econometrica , vol.34 , pp. 873-885
    • Ladd, G.W.1
  • 18
    • 0037980744 scopus 로고
    • The financial characteristics of firms and theories of merger activity
    • Levine P., Aaronovitch S. The financial characteristics of firms and theories of merger activity. Journal of Industrial Economics. 30:1981;149-172.
    • (1981) Journal of Industrial Economics , vol.30 , pp. 149-172
    • Levine, P.1    Aaronovitch, S.2
  • 19
    • 38249043632 scopus 로고
    • Logit versus discriminant analysis: A specification test and application to corporate bankruptcy
    • Lo A. Logit versus discriminant analysis. a specification test and application to corporate bankruptcy Journal of Econometrics. 31:1986;151-178.
    • (1986) Journal of Econometrics , vol.31 , pp. 151-178
    • Lo, A.1
  • 21
    • 0002297105 scopus 로고
    • Conditional logit analysis of qualitative choice behavior
    • In P. Zaremka (Ed.), New York: Academic Press
    • McFadden, D. (1974). Conditional logit analysis of qualitative choice behavior. In P. Zaremka (Ed.), Frontiers in Econometrics. New York: Academic Press.
    • (1974) Frontiers in Econometrics
    • McFadden, D.1
  • 22
    • 0000606731 scopus 로고
    • A comment on discriminant analysis 'versus' logit analysis
    • McFadden D. A comment on discriminant analysis 'versus' logit analysis. Annals of Economic and Social Measurement. 5:1976;511-523.
    • (1976) Annals of Economic and Social Measurement , vol.5 , pp. 511-523
    • McFadden, D.1
  • 23
    • 0000666375 scopus 로고
    • Financial ratios and the probabilistic prediction of bankruptcy
    • Ohlson J.A. Financial ratios and the probabilistic prediction of bankruptcy. Journal of Accounting Research. 18:1980;109-131.
    • (1980) Journal of Accounting Research , vol.18 , pp. 109-131
    • Ohlson, J.A.1
  • 24
    • 0001873667 scopus 로고
    • Predicting takeover targets: A methodological and empirical analysis
    • Palepu K.G. Predicting takeover targets. a methodological and empirical analysis Journal of Accounting and Economics. 8:1986;3-35.
    • (1986) Journal of Accounting and Economics , vol.8 , pp. 3-35
    • Palepu, K.G.1
  • 25
    • 84978567487 scopus 로고
    • Development of a Class of stable predictive variables: The case of bankruptcy prediction
    • Platt H.D., Platt M.D. Development of a Class of stable predictive variables. the case of bankruptcy prediction Journal of Business Finance and Accounting. 17:1990;31-51.
    • (1990) Journal of Business Finance and Accounting , vol.17 , pp. 31-51
    • Platt, H.D.1    Platt, M.D.2
  • 27
    • 0038284292 scopus 로고
    • Hemel Hempstead, UK: Prentice Hall
    • Rees B. Financial Analysis. 1995;Prentice Hall, Hemel Hempstead, UK.
    • (1995) Financial Analysis
    • Rees, B.1
  • 29
    • 84959720100 scopus 로고
    • Financial characteristics of merged firms: A multivariate analysis
    • Stevens D.L. Financial characteristics of merged firms. a multivariate analysis Journal of Financial and Quantitative Analysis. 8:1973;149-158.
    • (1973) Journal of Financial and Quantitative Analysis , vol.8 , pp. 149-158
    • Stevens, D.L.1
  • 31
    • 84972753226 scopus 로고
    • The usefulness of current cost information for identifying takeover targets and earning above-average stock returns
    • Walter R.M. The usefulness of current cost information for identifying takeover targets and earning above-average stock returns. Journal of Accounting, Auditing and Finance. 9:1994;349-377.
    • (1994) Journal of Accounting, Auditing and Finance , vol.9 , pp. 349-377
    • Walter, R.M.1
  • 32
    • 84974012809 scopus 로고
    • A note on the comparison of logit and discriminant models of consumer credit behavior
    • Wiggington J.C. A note on the comparison of logit and discriminant models of consumer credit behavior. Journal of Financial and Quantitative Analysis. 15:1980;757-770.
    • (1980) Journal of Financial and Quantitative Analysis , vol.15 , pp. 757-770
    • Wiggington, J.C.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.