کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5054305 | 1476532 | 2014 | 9 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Predicting restaurant financial distress using decision tree and AdaBoosted decision tree models
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
The restaurant industry has been facing tough challenges because of the recent economic turmoil. Although different industries face different levels of competition and therefore the likelihood of financial distress can differ for firms in different industries, scant attention has been paid to predicting restaurant financial distress. The primary objective of this paper is to examine the key financial distress factors for publicly traded U.S. restaurants for the period from 1988 to 2010 using decision trees (DT) and AdaBoosted decision trees. The AdaBoosted DT model for the entire dataset revealed that financially distressed restaurants relied more heavily on debt; and showed lower rates of increase of assets, lower net profit margins, and lower current ratios than non-distressed restaurants. A larger proportion of debt in the capital structure ruined restaurants' financial structure and the inability to pay their drastically increased debt exposed restaurants to financial distress. Additionally, a lack of capital efficiency increased the possibility of financial distress. We recommend the use of the AdaBoosted DT model as an early warning system for restaurant distress prediction because the AdaBoosted DT model demonstrated the best prediction performance with the smallest error in overall and type I error rates. The results of two subset models for full-service and limited-service restaurants indicated that the segments had slightly different financial risk factors.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 36, January 2014, Pages 354-362
Journal: Economic Modelling - Volume 36, January 2014, Pages 354-362
نویسندگان
Soo Y. Kim, Arun Upneja,