Predicting financial distress in the Australian financial services Industry

Yim, J and Mitchell, H 2007, 'Predicting financial distress in the Australian financial services Industry', Australian Economic Papers, vol. 46, no. 4, pp. 375-388.


Document type: Journal Article
Collection: Journal Articles

Title Predicting financial distress in the Australian financial services Industry
Author(s) Yim, J
Mitchell, H
Year 2007
Journal name Australian Economic Papers
Volume number 46
Issue number 4
Start page 375
End page 388
Total pages 13
Publisher Wiley-Blackwell
Abstract This paper looks at the ability of a relatively new technique, a non-linear extension of the Granger thick model concept, hybrid ANN's, to predict failure of financial service firms in Australia. These models are compared with traditional statistical techniques and conventional ANN models. The results suggest that hybrid neural networks outperform all other models in predicting failure for up to two years prior to the event. This suggests that for researchers, policymakers and others interested in early warning systems, hybrid network may be a useful tool for predicting firm failure.
Subject Econometric and Statistical Methods
Keyword(s) hybrid ANNs
failure of financial service firms
statistical models
hybrid network
DOI - identifier 10.1111/j.1467-8454.2007.00326.x
Copyright notice © 2007 The Authors Journal compilation © 2007 Blackwell Publishing Ltd/University of Adelaide and Flinders University
ISSN 0004-900X
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