메뉴 건너뛰기




Volumn 14, Issue 1, 2007, Pages 75-90

The influence of the business cycle on bankruptcy probability

Author keywords

Bankruptcy prediction; Financial ratios; Logit model; Macroeconomic environment

Indexed keywords


EID: 67349219504     PISSN: 09696016     EISSN: 14753995     Source Type: Journal    
DOI: 10.1111/j.1475-3995.2006.00576.x     Document Type: Article
Times cited : (35)

References (43)
  • 1
    • 84980104458 scopus 로고
    • Financial ratios, discriminant analysis and the prediction of corporate bankruptcy
    • Altman, E., 1968. Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. Journal of Finance 23, 589-609.
    • (1968) Journal of Finance , vol.23 , pp. 589-609
    • Altman, E.1
  • 2
    • 84993845602 scopus 로고
    • Railroad bankruptcy propensity
    • Altman, E., 1971. Railroad bankruptcy propensity. Journal of Finance 26, 333-345.
    • (1971) Journal of Finance , vol.26 , pp. 333-345
    • Altman, E.1
  • 5
    • 7944229970 scopus 로고
    • ZETA analysis: A new model to identify bankruptcy risk of corporations
    • Altman, E., Haldeman, R., Narayanan, P., 1977. ZETA analysis: a new model to identify bankruptcy risk of corporations. Journal of Banking and Finance 1, 29-54.
    • (1977) Journal of Banking and Finance , vol.1 , pp. 29-54
    • Altman, E.1    Haldeman, R.2    Narayanan, P.3
  • 6
    • 77951886055 scopus 로고    scopus 로고
    • Aggregated business failures and federal credit activity
    • Archibald, R., Baker, S., 1998. Aggregated business failures and federal credit activity. Public Finance Quarterly 16, 219-243.
    • (1998) Public Finance Quarterly , vol.16 , pp. 219-243
    • Archibald, R.1    Baker, S.2
  • 8
    • 0002554419 scopus 로고
    • Financial ratios as predictors of failure. Empirical research accounting: Selected studies
    • Beaver, W., 1966. Financial ratios as predictors of failure. Empirical research accounting: selected studies. Journal of Accounting Research 5, (Suppl.), 179-199.
    • (1966) Journal of Accounting Research , vol.5 , pp. 179-199
    • Beaver, W.1
  • 9
    • 0001466375 scopus 로고
    • Market prices, financial ratios and prediction of failure
    • Beaver, W., 1968. Market prices, financial ratios and prediction of failure. Journal of Accounting Research 6, 179-192.
    • (1968) Journal of Accounting Research , vol.6 , pp. 179-192
    • Beaver, W.1
  • 14
    • 84973227103 scopus 로고
    • UK small firm bankruptcy prediction: A logit analysis of industry, trend and macro effects
    • Cressy, R., 1992. UK small firm bankruptcy prediction: A logit analysis of industry, trend and macro effects. Journal of Small Business Finance 1, 233-253.
    • (1992) Journal of Small Business Finance , vol.1 , pp. 233-253
    • Cressy, R.1
  • 16
    • 0000275837 scopus 로고
    • A discriminant analysis of predictors of business failure
    • Deakin, E., 1972. A discriminant analysis of predictors of business failure. Journal of Accounting Research 10, 167-179.
    • (1972) Journal of Accounting Research , vol.10 , pp. 167-179
    • Deakin, E.1
  • 17
    • 0030143666 scopus 로고    scopus 로고
    • A survey of business failures with an emphasis on prediction methods and industrial applications
    • Dimitras, A., Zanakis, S., Zopounidis, C., 1996. A survey of business failures with an emphasis on prediction methods and industrial applications. European Journal of Operational Research 90, 487-513.
    • (1996) European Journal of Operational Research , vol.90 , pp. 487-513
    • Dimitras, A.1    Zanakis, S.2    Zopounidis, C.3
  • 19
    • 38249040740 scopus 로고
    • Term premiums and default premiums in money markets
    • Fama, E., 1986. Term premiums and default premiums in money markets. Journal of Financial Economics 17, 175-196.
    • (1986) Journal of Financial Economics , vol.17 , pp. 175-196
    • Fama, E.1
  • 20
    • 84944837333 scopus 로고
    • Introducing recursive partitioning for financial classification: The case of financial distress
    • Frydman, H., Altman, E., Kao, D., 1985. Introducing recursive partitioning for financial classification: the case of financial distress. Journal of Finance 40, 269-291.
    • (1985) Journal of Finance , vol.40 , pp. 269-291
    • Frydman, H.1    Altman, E.2    Kao, D.3
  • 23
    • 0004296209 scopus 로고
    • Prentice-Hall, Englewood Cliffs, NJ
    • Greene, W., 1993. Econometric Analysis. Prentice-Hall, Englewood Cliffs, NJ.
    • (1993) Econometric Analysis
    • Greene, W.1
  • 25
    • 85040435583 scopus 로고    scopus 로고
    • Explanations of losses on loans with macroeconomic variables - Norway 1991-1999
    • Hol, S., 2001. Explanations of losses on loans with macroeconomic variables - Norway 1991-1999. Medium Econometric Applications 9, 15-18.
    • (2001) Medium Econometric Applications , vol.9 , pp. 15-18
    • Hol, S.1
  • 26
    • 0001097666 scopus 로고
    • Corporate distress in Australia
    • Izan, H., 1984. Corporate distress in Australia. Journal of Banking and Finance 8, 303-320.
    • (1984) Journal of Banking and Finance , vol.8 , pp. 303-320
    • Izan, H.1
  • 27
    • 0001435310 scopus 로고
    • Predicting corporate bankruptcy and financial distress: Information value added by multinomial logit models
    • Johnsen, T., Melicher, R., 1994. Predicting corporate bankruptcy and financial distress: information value added by multinomial logit models. Journal of Economics and Business 46, 269-286.
    • (1994) Journal of Economics and Business , vol.46 , pp. 269-286
    • Johnsen, T.1    Melicher, R.2
  • 28
    • 84993031170 scopus 로고
    • Financial ratios and different failure processes
    • Laitinen, E., 1991. Financial ratios and different failure processes. Journal of Business Finance & Accounting 18, 649-673.
    • (1991) Journal of Business Finance & Accounting , vol.18 , pp. 649-673
    • Laitinen, E.1
  • 30
    • 38249034412 scopus 로고
    • Macroeconomic aspects of firm bankruptcy analysis
    • Levy, A., Bar-Niv, R., 1987. Macroeconomic aspects of firm bankruptcy analysis. Journal of Macroeconomics 9, 407-415.
    • (1987) Journal of Macroeconomics , vol.9 , pp. 407-415
    • Levy, A.1    Bar-Niv, R.2
  • 31
    • 49349134343 scopus 로고
    • Early warning of bank failure. A logit regression approach
    • Martin, D., 1977. Early warning of bank failure. A logit regression approach. Journal of Banking and Finance 1, 249-276.
    • (1977) Journal of Banking and Finance , vol.1 , pp. 249-276
    • Martin, D.1
  • 32
    • 38249027816 scopus 로고
    • A time series analysis of aggregate business failure activity and credit conditions
    • Melicher, R., Hearth, D., 1988. A time series analysis of aggregate business failure activity and credit conditions. Journal of Economics and Business 40, 319-333.
    • (1988) Journal of Economics and Business , vol.40 , pp. 319-333
    • Melicher, R.1    Hearth, D.2
  • 34
    • 0002944481 scopus 로고
    • Including rules for expert system development: An example using default and bankruptcy data
    • Messier, W., Hansen, J., 1988. Including rules for expert system development: an example using default and bankruptcy data. Management Science 34, 1403-1415.
    • (1988) Management Science , vol.34 , pp. 1403-1415
    • Messier, W.1    Hansen, J.2
  • 35
    • 0000666375 scopus 로고
    • Financial ratios and the probabilistic prediction of bankruptcy
    • Ohlson, J., 1980. Financial ratios and the probabilistic prediction of bankruptcy. Journal of Accounting Research 18, 109-131.
    • (1980) Journal of Accounting Research , vol.18 , pp. 109-131
    • Ohlson, J.1
  • 36
    • 0347868994 scopus 로고
    • Some further empirical evidence on predicting private company failure
    • Peel, M., Peel, D., 1987. Some further empirical evidence on predicting private company failure. Accounting and Business Research 18, 57-66.
    • (1987) Accounting and Business Research , vol.18 , pp. 57-66
    • Peel, M.1    Peel, D.2
  • 39
    • 0035546592 scopus 로고    scopus 로고
    • Default probabilities in a corporate bank portfolio: A logistic model approach
    • Westgaard, S., Van Der Wijst, N., 2001. Default probabilities in a corporate bank portfolio: a logistic model approach. European Journal of Operation Research 135, 338-349.
    • (2001) European Journal of Operation Research , vol.135 , pp. 338-349
    • Westgaard, S.1    Van Der Wijst, N.2
  • 43
    • 0001953906 scopus 로고
    • Methodological issues related to the estimation of financial distress prediction models
    • Zmijewski, M., 1985. Methodological issues related to the estimation of financial distress prediction models. Studies on Current Economic Issues in Accounting Research 22, 59-82.
    • (1985) Studies on Current Economic Issues in Accounting Research , vol.22 , pp. 59-82
    • Zmijewski, M.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.