Detection of financial distress via multivariate statistical analysis

S. Gamesalingam · Kuldeep Kumar

52 citations0/0 files storedManagerial Finance

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Financial Distress and Bankruptcy Prediction Corporate Insolvency and Governance Statistical Methods and Applications

Abstract

Describes the ability of modern computer‐driven multivariate statistical analysis to deal with complex data and the development of statistical models for predicting financial distress. Applies multivariate techniques to 1986‐1991 financial ratio data for Australian failed (29) and nonfailed (42) companies; and explains the techniques used (principal components analysis, factor analysis, discriminant analysis and cluster analysis) and the different types of information they can provide to help identify the distress levels of companies. Predicts that multivariate methods will change the way researchers think about problems and design their research. An unusually clear exposition of the application of multivariate methods.

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References

1968FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY 1966Financial Ratios As Predictors of Failure 1972An Empirical Test of Financial Ratio Analysis for Small Business Failure Prediction 1985Introducing Recursive Partitioning for Financial Classification: The Case of Financial Distress

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