Financial Ratios as Predictors of Failure: Evidence from ... - ERIM

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Appendix Five Table 9 (continued) Model Summary Percentage Correct 73.333 73.333 -2 Log likelihood 62.294 58.940 Cox & Snell R Square 0.294 0.332 Nagelkerke R Square 0.392 0.443 Omnibus Tests <strong>of</strong> Model Coefficients Chi-square 20.883 24.237 df 12.000 14.000 sig 0.050* 0.043* Hosmer and Lemeshow Test Chi-square 3.654 9.892 df 8.000 8.000 sig 0.887 0.273 39
Appendix Six Table 10 Coefficients two or three years before default (Sample Two) Variables Two years before default Three years before default NITA -0.068 0.036 -0.077 -0.316 Size -0.604* -0.609 (0.026) -0.067 ROE 0.018 -0.029 -0.147 -0.122 TDTA 0.037** 0.043** (0.006) (0.010) SATA -0.367 -0.67 -0.349 -0.183 EQTC 0.004 -0.001 -0.741 -0.956 RETA 0.247 0.464 -0.344 -0.382 CD 1.391 1.745* -0.055 (0.049) MT -0.199 -0.094 -0.825 -0.924 RE -0.35 0.146 -0.77 -0.915 TH -0.016 dropped -0.984 DF -0.057 dropped -0.96 CG dropped 1.099 -0.252 FBT dropped 0.669 -0.513 SS dropped -0.15 -0.898 TS dropped 0.314 -0.779 TPT dropped 0.117 -0.916 40
Page 1 and 2: 17 Nov 2008 Financial Ratios as Pre
Page 3 and 4: Abstract This paper presents some e
Page 5 and 6: 1. Introduction One year after the
Page 7 and 8: However he did not find substantial
Page 9 and 10: interest in predicting bankruptcy b
Page 11 and 12: atios he employed in the research w
Page 13 and 14: there are specific statistical requ
Page 15 and 16: “returns”, “values” and “
Page 17 and 18: Table 2 Explanatory Variables Varia
Page 19 and 20: which results in high standard erro
Page 21 and 22: Table 7 Variables in the Equation (
Page 23 and 24: Summary. -2 log likelihood (-2LL) i
Page 25 and 26: predicted to be default, it is call
Page 27 and 28: estimation procedure. However it is
Page 29 and 30: Ohlson (1980)). In the second sampl
Page 31 and 32: Reference Altman, E. I., 1968, “F
Page 33 and 34: Hong Kong Society of Accountants, 1
Page 35 and 36: MDA Appendix One Table 1 Literature
Page 37 and 38: Appendix Two Table 4 Descriptive St
Page 39: Appendix Four Table 9 Coefficients
Page 43 and 44: Appendix Eight Table 12 Classificat

Financial Ratios as Predictors of Failure: Evidence from ... - ERIM

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