Predicting Corporate Bankruptcy in Pakistan A Comparative Study of Multiple Discriminant Analysis (MDA) and Logistic Regression

Purpose:- The aim of the study was to predict corporate bankruptcy in an emerging market like Pakistan by employing two statistical methods which are Discriminant Analysis (MDA) and Logistic Regression (Logit). It was also aimed at identifying the predicting accuracies of these statistical methods. Methodology:- This study had examined 35 bankrupt and 35 non-bankrupt companies which belongs to sector (non-financial) of Pakistan listed at KSE (Karachi Stock Exchange) over the period of seventeen years i.e. 1996 to 2012. Here, we had compared the accuracy and predictive ability of two statistical methods which are Discriminant Analysis (MDA) and Logistic Regression (Logit) and was expecting that Logistic Regression (Logit) accuracy and predictive ability will supercede Multiple Discriminant Analysis (MDA) accuracy and predictive ability. Findings:- The results have proved that Logistic Regression accuracy and predictive ability (80%) is better than the accuracy and predictive ability (78.6%) of Multiple Discriminant Analysis (MDA). It is proved that both the models identified the same amount of predictors for bankruptcy prediction. The variables identified by Logistic Regression are Shareholder’s Equity / Debt (Book Value), EBIT / Current Liabilities, Retained Earnings / Total Assets and variables identified by Multiple Discriminant Analysis (MDA) are EBIT / Current Liabilities, Sales / Total Assets and Sales / Quick Assets which have shown significant contribution towards bankruptcy prediction. Originality/Value:-This paper had revealed the accuracy and predictive ability of two statistical methods which are Discriminant Analysis (MDA) and Logistic Regression (Logit) employed in this study and has shown us the better model i.e. Logistic Regression which needs to be used in future for prediction of corporate bankruptcy in Pakistan. Limitations:- This study had used the small sample size and the focus was at Non-Financial Sector only. So it may be extended to other sectors and to other developing countries of the world. Practical Implications:- This study will be beneficial for managers and investors

Statistical Yield Analysis and Design for Nanometer VLSI

Process variability is the pivotal factor impacting the design of high yield integrated circuits and systems in deep sub-micron CMOS technologies. The electrical and physical properties of transistors and interconnects, the building blocks of integrated circuits, are prone to significant variations that directly impact the performance and power consumption of the fabricated devices, severely impacting the manufacturing yield. However, the large number of the transistors on a single chip adds even more challenges for the analysis of the variation effects, a critical task in diagnosing the cause of failure and designing for yield. Reliable and efficient statistical analysis methodologies in various design phases are key to predict the yield before entering such an expensive fabrication process. In this thesis, the impacts of process variations are examined at three different levels: device, circuit, and micro-architecture. The variation models are provided for each level of abstraction, and new methodologies are proposed for efficient statistical analysis and design under variation. At the circuit level, the variability analysis of three crucial sub-blocks of today's system-on-chips, namely, digital circuits, memory cells, and analog blocks, are targeted. The accurate and efficient yield analysis of circuits is recognized as an extremely challenging task within the electronic design automation community. The large scale of the digital circuits, the extremely high yield requirement for memory cells, and the time-consuming analog circuit simulation are major concerns in the development of any statistical analysis technique. In this thesis, several sampling-based methods have been proposed for these three types of circuits to significantly improve the run-time of the traditional Monte Carlo method, without compromising accuracy. The proposed sampling-based yield analysis methods benefit from the very appealing feature of the MC method, that is, the capability to consider any complex circuit model. However, through the use and engineering of advanced variance reduction and sampling methods, ultra-fast yield estimation solutions are provided for different types of VLSI circuits. Such methods include control variate, importance sampling, correlation-controlled Latin Hypercube Sampling, and Quasi Monte Carlo. At the device level, a methodology is proposed which introduces a variation-aware design perspective for designing MOS devices in aggressively scaled geometries. The method introduces a yield measure at the device level which targets the saturation and leakage currents of an MOS transistor. A statistical method is developed to optimize the advanced doping profiles and geometry features of a device for achieving a maximum device-level yield. Finally, a statistical thermal analysis framework is proposed. It accounts for the process and thermal variations simultaneously, at the micro-architectural level. The analyzer is developed, based on the fact that the process variations lead to uncertain leakage power sources, so that the thermal profile, itself, would have a probabilistic nature. Therefore, by a co-process-thermal-leakage analysis, a more reliable full-chip statistical leakage power yield is calculated

Structural and functional differences between state-owned and private banks in Iran

Banks, as financial institutions, play the role of financial intermediaries: savings, investments, production, employment and growth in the national economy are affected by operations of banks. State-owned and private banks have a relatively similar role and function and the rules and regulations governing them are not very different, because the non-usury banking act was adopted at a time when there was no private bank in the banking system of the country and all acts and regulations governing banking operations were approved by the government’s banking vision. At the moment, banks are moving within the samelegal atmosphere. Hence, the question is whether private banks are taking the path that the government banking system has taken. Despite the similarities, these banks are sometimes subject to different rules and regulations in terms of how to establish, operate and dissolve. This structural difference has led to a functional difference and has often differentiated the ways in which resources are attracted and allocated and made the private banking system somewhat offset the deficiencies of the government banking system.Banki jako instytucje finansowe pełnią rolę pośredników finansowych. Banki wpływają na oszczędności, inwestycje, produkcję, zatrudnienie i wzrost w gospodarce narodowej. Banki państwowe i prywatne pełnią podobną rolę i funkcję, a rządzące nimi zasady i przepisy nie różnią się bardzo. Irańska ustawa o bankowości bez lichwy została przyjęta w czasie, gdy w systemie bankowym kraju nie było prywatnego banku, a wszystkie ustawy i regulacje dotyczące operacji bankowych zostały podporządkowane państwowej wizji działalności bankowej. Stąd pytanie brzmi, czy banki prywatne podążają drogą rządowego systemu bankowego. Pomimo podobieństw banki te podlegają czasem różnym zasadom i regulacjom dotyczącym zakładania, prowadzenia i rozwiązywania. Ta różnica strukturalna doprowadziła do różnicy funkcjonalnej i często różnicowała sposób przyciągania i alokacji zasobów a także sprawiała, że system bankowości prywatnej nieco zrównoważył niedociągnięcia rządowego systemu bankowego

Development and adjustment of adopted adolescents : longitudinal and concurrent factors

The first study of this thesis (Chapter 2) showed that the majority of the internationally adopted children are well adjusted, although a relatively large minority of adopted children had behavior problems of clinical significance or were referred to mental health services compared with non-adopted children. Nevertheless, adoption may often be the best solution for a child who would otherwise be raised in an institution or in other adverse environments (see also Juffer, 2002; Van IJzendoorn et al., 2005). The second and third study (Chapters 3 and 4) showed several longitudinal and concurrent influences on the behavioral and social development of adopted adolescents. The second study (Chapter 3) showed that early-onset delinquency was associated with stress hyporeactivity. The differentiation between delinquency and aggression, and between childhood-onset and adolescence-onset delinquency (Moffitt, 1993) appeared to be important for our understanding of the development of externalizing problem behaviors. The third study (Chapter 4) showed that individual development from infancy through middle childhood to adolescence was rather stable and that concurrent environmental experiences and child characteristics were essential influences on middle childhood and adolescent social development. Early parent-child relationships did not determine in final form social development in adolescence, but they provided the basis for healthy social development through the influence on earlier social development, even in the absence of genetic similarities between children and parents. Bowlby__s (1973, 1980) thesis that adaptation is always a product of both developmental history and current circumstances was supported.Universiteit leidenVereniging Wereldkinderen Stichting Kind en ToekomstFSW - Gezinsopvoeding - Ou

Developing Compassionate and Socially Responsible Global Citizens through Interdisciplinary, International Service-Learning

Interdisciplinary, international service-learning experiences provide transformative experiences that develop students’ capacities as socially responsible global citizens. In this article the authors, a team of two professors and three students, share the results of a self-study in which we explored the narrative inquiry question: How does an interdisciplinary service-learning experience influence student understanding of common human dignity, social responsibility, and citizenship in a global context? The findings and reflections from this partnership between faculty and students provide insights and recommendations for faculty seeking to develop sustainable, interdisciplinary, international service-learning experiences.

Ferromagnetism in Li doped ZnO nanoparticles: The role of interstitial Li

ZnO nanoparticles doped with Li (Zn1−yLiyO, y ≤ 0.1) have been investigated with emphasis on the correlation between their magnetic, electronic, and structural properties. In particular, defects such as interstitial Li and Zn atoms, substitutional Li atoms, and oxygen vacancies have been identified by X-ray photoelectron spectroscopy(XPS) and their respective roles in stabilization of the magnetic moment are discussed. X-ray diffraction(XRD) and XPS give clear evidence of Li presence at both substitutional and interstitial sites. XPS studies further show that the amount of substitutional Li defects (Lizn) and interstitial Li defects (Lii) vary non-monotonically with the Li concentration, with the Lii defects being noticeably high for the y = 0.02, 0.08, and 0.10 concentrations, in agreement with the XRD results. Magnetization studies show room temperature ferromagnetism in these nanoparticles with the moment being largest for the particles with high concentration of interstitial lithium and vice versa. Both interstitialZn(Zni) defects and Zn-O bonds were determined from the Zn LMM Auger peaks; however, the variation of these with Li concentrations was not large. Oxygen vacancies (Vo) concentrations are estimated to be relatively constant over the entire Li concentration range. We relate the Lii and Zni defects to the formation and stabilization of Znvacancies and thus stabilizing the p-type ferromagnetism predicted for cation (zinc)vacancy in the ZnO type oxides

Idaho CareLine 2-1-1 Data Analysis and Update to Idaho Legislators

The Idaho CareLine 2-1-1 Data Analysis and Update to Legislators project has consisted of analyzing and organizing data collected by the 2-1-1 CareLine throughout 2013 regarding Alzheimer’s information. Once significant data trends had been identified, a PowerPoint presentation was developed and presented to the Idaho House Health and Welfare Subcommittee, the Greater Idaho Chapter Alzheimer’s Association, and incorporated into a community education film evening on Alzheimer’s