کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
8954650 1646030 2018 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Predicting unlisted SMEs' default: Incorporating market information on accounting-based models for improved accuracy
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری حسابداری
پیش نمایش صفحه اول مقاله
Predicting unlisted SMEs' default: Incorporating market information on accounting-based models for improved accuracy
چکیده انگلیسی
The risk associated with lending to small businesses has become more important since regulations started obliging banks to use separate procedures in assessing SMEs' credit worthiness. However, current accounting-based models for SMEs do not account for the impact of market information on default prediction. We fill this gap in the literature by introducing a hybrid default prediction model for unlisted SMEs that uses market information of listed SMEs (comparable approach) alongside existing accounting information of unlisted SMEs. Our results suggest that the accuracy of this default prediction modelling approach in the hold-out sample, during the period of the financial crisis 2007-09 and for the entire sample-period, improves considerably. We conclude that the proposed hybrid model is a good replacement for existing standard accounting-based methods on SMEs' default prediction.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The British Accounting Review - Volume 50, Issue 5, September 2018, Pages 559-573
نویسندگان
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