3,207 research outputs found
The Stability of Survival Model Parameter Estimates for Predicting the Probability of Default: Empirical Evidence over the Credit Crisis
Get PDFReducing estimation risk using a Bayesian posterior distribution approach:Application to stress testing mortgage loan default
Get PDFFinancial Distress in Chinese Industry:Microeconomic, Macroeconomic and Institutional Infuences
Get PDFWe study the impact of both microeconomic factors and the macroeconomy
on the financial distress of Chinese listed companies over a period of massive economic transition, 1995 to 2006. Based on an
economic model of financial distress under the institutional setting of state protection against exit, and using our own firm-level measure of distress, we find important impacts of firm characteristics, macroeconomic instability and institutional factors on the hazard rate of financial distress. The results are robust to unobserved heterogeneity at the firm level, as well as those shared by firms in similar macroeconomic founding conditions. Comparison with related studies for other
economies highlights important policy implications
Financial Distress in Chinese Industry:Microeconomic, Macroeconomic and Institutional Influences
Get PDFWe study the impact of both microeconomic factors and the macroeconomy
on the financial distress of Chinese listed companies over a period of massive economic transition, 1995 to 2006. Based on an
economic model of financial distress under the institutional setting of state protection against exit, and using our own firm-level measure of distress, we find important impacts of firm characteristics, macroeconomic instability and institutional factors on the hazard rate of financial distress. The results are robust to unobserved heterogeneity at the firm level, as well as those shared by firms in similar macroeconomic founding conditions. Comparison with related studies for other
economies highlights important policy implications
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