Airline failure and distress prediction: A comparison of quantitative and qualitative models

Transportation Research Part E: Logistics and Transportation Review

Volumn 35, Issue 3, 1999, Pages 155-182

  Vidar Gudmundsson, Sveinn ^a  

^a MAASTRICHT UNIVERSITY   (Netherlands)

Author keywords

Airline failures; Deregulation; Failure prediction; New entrant airlines

Indexed keywords

AIR TRANSPORTATION; INDUSTRIAL PERFORMANCE; METHODOLOGY; MODELING; TRANSPORTATION SYSTEM;

UNITED STATES;

EID: 0344117550     PISSN: 13665545     EISSN: None     Source Type: Journal    
DOI: 10.1016/S1366-5545(99)00004-6     Document Type: Article

References (34)

1. Altman, E.I., 1968. Discriminant analysis and the prediction of corporate bankruptcy. The Journal of Finance, 589-609.
2. Argenti, J., 1976. Corporate Collapse: The Causes and Symptoms. McGraw-Hill, London.
3. Beaver W. Financial ratios as predictors of failures. Empirical Research in Accounting, selected studies. 5:1967;71-111.
4. Bhattacharya, K., 1987. The New Frontiers For Business Analysis. Macmillan Press, Hampshire.
5. Blum M.P. Failing company discriminant analysis. Journal of Accounting Research. 2:1974;1-25.
6. Chen, K.H., Shimerda, T.A., 1981. An empirical analysis of useful financial ratios. Financial Management, 51-60.
7. Clutterbuck, D., Kernaghan, S., 1990. The Phoenix Factor: Lessons for Success from Management Failure. Weidenfield & Nicolson.
8. Cochran R., Green R. Statistical methods for bankruptcy forecasting. Journal of Economics and Business. 34:1982;349-354.
9. Cowan D.A. Developing a classification structure of organisational problems: an empirical investigation. Academy of Management Journal. 33(2):1990;366-390.
10. Davis, E., Kay, J., 1990. Assessing corporate performance. Business Strategy Review, 1-16.
11. Deakin E.B. A discriminant analysis of predictors of business failure. Journal of Accounting Research. 2:1972;167-179.
12. Doganis, R., 1986. Measure for Measure. Airline Business, 16-20.
13. Edminster, R.O., 1972. An empirical test of financial ratio analysis for small business failure prediction. Journal of Financial and Quantitative Analysis, 1477-1493.
14. Gudmundsson, S.V., 1986. Section on air transport forecasting. In: The Aviation Committee Report. The Icelandic Ministry of Transport.
15. Gudmundsson S.V. The difference between European and US airline management practice: the case of new-entrant airlines. Journal of Air Transport Management. 3:1997;75-82.
16. Gudmundsson S.V. New-entrant airlines'life-cycle analysis: growth, decline and collapse. Journal of Air Transport Management. 4:1998;217-228.
17. Gudmundsson, S.V., 1998b. Flying Too Close to the Sun: The Success and Failure of the New-entrant Airlines. Ashgate, Aldershot.
18. Hall, D., 1992. The Hallmarks for Successful Business: Survival-Change-Growth. Mercury Books, London.
19. Hickman, W.B., 1958. Corporate Bond Quality and Investor Experience. Princeton University Press, Princeton, NJ.
20. Innes, J., Aitken, C., Mitchell, F., 1991. Prediction of small company failure. Credit Management, 37-41.
21. Keasey K., McGuinness P. The failure of UK industrial firms for the period 1976-1984, logistic analysis and entropy measures. Journal of Business Finance and Accounting. 17:1990;119-135.
22. Keasey, K., Watson, R., 1987. Non-financial syptoms and the prediction of small company failure: a test of argenti's hypothesis. Journal of Business and Accounting, 335-354.
23. Keasey K., Watson R. The non-submission of accounts and small company financial failure prediction. Accounting and Business Research. 19:1988;47-54.
24. Libby R. Accounting ratios and the prediction of failure: some behavioral evidence. Journal of Accounting Research. 3:1975;150-161.
25. Menard, S., 1995. Applied logistic regression analysis. Sage University Paper Series on Quantitative Applications in the Social Sciences, 07-106. Thousand Oaks, CA: Sage.
26. Miller, D., 1990. The Icarus Paradox: How Exceptional Companies bring about their own downfall. Harper Business Publication.
27. Ohlson J. Financial ratios and probabilistic prediction of bankruptcy. Journal of Accounting Research. 18:1980;109-131.
28. Robertson J., Mills R.W. The uses and abuses of corporate prediction models. Management Accounting. 69:1991;20-22.
29. Santomero A., Vinso J. Estimating the probability of failure for firms in the banking system. Journal of Banking and Finance. 1:1977;185-205.
30. Scott J. The probability of bankruptcy: a comparison of empirical predictions and theoretical models. Journal of Banking and Finance. 5:1981;317-344.
31. Slatter, S., 1984. Corporate Recovery: A Guide to Turnaround Management. Penguin Business, London.
32. Tam K.Y., Kiang M.Y. Managerial applications of neural networks: the case of bank failure predictions. Management Science. 38:1992;927-947.
33. Wilcox, J., 1971. A Gambler's ruin prediction of business failure using accounting data. Sloan Management Review, 12.
34. Zavgren C.V. The prediction of corporate failure: the state of the art. Journal of Accounting Literature. 2:1983;1-35.