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A Multivariate Model for Predicting Business Failures of Hospitality Firms

57 citations0/0 files storedTourism and Hospitality Research

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Financial Distress and Bankruptcy Prediction Financial Analysis and Corporate Governance Corporate Insolvency and Governance

Abstract

This study estimated a multivariate discriminant model for predicting hospitality firm bankruptcy. The model has a 93 per cent accuracy in classifying the in-sample firms into bankrupt and non-bankrupt firms. The model suggests that unprofitable firms burdened with debts, short-term debts in particular, are more likely to be candidates for bankruptcy. Fast expansion and sales growth of those firms may increase their bankruptcy likelihood.

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1968FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY 1966Financial Ratios As Predictors of Failure 1984Methodological Issues Related to the Estimation of Financial Distress Prediction Models 1977ZETATM analysis A new model to identify bankruptcy risk of corporations 1972A Discriminant Analysis of Predictors of Business Failure 1972An Empirical Test of Financial Ratio Analysis for Small Business Failure Prediction 1969Financial Management and Policy 1974Failing Company Discriminant Analysis

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