Is grey relational analysis superior to the conventional techniques in predicting financial crisis?

► Grey relational analysis (GRA) has been one of the most practical analytical tools. ► The values of grey relational grade are computed using current GRA model. ► This implies that the GRA model is capable of managing financial risks. ► According to the definition of the prediction accuracy ratio for crisis banks, 11 out of 13 companies are correctly clustered. ► It is a significant implication for the establishment of early warning models of financial crisis.