The Prediction of Financial Distress of Cross-Ownership Public Listed Companies in Taiwan
碩士 === 華梵大學 === 資訊管理學系碩士班 === 91 === Recent years, the majority of enterprises with a financial crisis are those with higher degree of cross-ownership and the property of their financial affairs is distinct from that of usual companies. In addition to using traditional accrual-based financial ratios...
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ndltd-TW-091HCHT03960142015-10-13T17:01:33Z http://ndltd.ncl.edu.tw/handle/01911346935443805244 The Prediction of Financial Distress of Cross-Ownership Public Listed Companies in Taiwan 我國交叉持股上市公司財務危機 Bin-Chun Hsu 許彬淳 碩士 華梵大學 資訊管理學系碩士班 91 Recent years, the majority of enterprises with a financial crisis are those with higher degree of cross-ownership and the property of their financial affairs is distinct from that of usual companies. In addition to using traditional accrual-based financial ratios, the research further combines cash-flow, balance sheet and related ratio information of income statement to cull high representative ratio variables which can apply to three sorts of prediction models: (1). the logit regression, (2). the backpropagation network and (3). the decision tree to construct respective financial precaution models for analysis and comparison. We expect to establish a more accurate financial precaution model for the enterprise manager and investors to consult and make effective measures and decisions, immediately. The sample sources are ten companies with a financial crisis and nineteen ones without a financial crisis between 1998 to 1999, which are selected by industry. The research has found that: (1) The performance of the prediction ability of cash-flow ratio precaution model is not worse than that of accrual-based ratio precaution model. Nonetheless, it doesn’t obviously improve the prediction ability to add cash-flow ratios to accrual-based ratios. (2) The prediction ability of the decision tree is much better than that of the backpropagation network or that of the logit regression. Tsung-Yuan Tseng 曾綜源 2003 學位論文 ; thesis 53 zh-TW |
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碩士 === 華梵大學 === 資訊管理學系碩士班 === 91 === Recent years, the majority of enterprises with a financial crisis are those with higher degree of cross-ownership and the property of their financial affairs is distinct from that of usual companies. In addition to using traditional accrual-based financial ratios, the research further combines cash-flow, balance sheet and related ratio information of income statement to cull high representative ratio variables which can apply to three sorts of prediction models: (1). the logit regression, (2). the backpropagation network and (3). the decision tree to construct respective financial precaution models for analysis and comparison. We expect to establish a more accurate financial precaution model for the enterprise manager and investors to consult and make effective measures and decisions, immediately.
The sample sources are ten companies with a financial crisis and nineteen ones without a financial crisis between 1998 to 1999, which are selected by industry. The research has found that:
(1) The performance of the prediction ability of cash-flow ratio precaution model is not worse than that of accrual-based ratio precaution model. Nonetheless, it doesn’t obviously improve the prediction ability to add cash-flow ratios to accrual-based ratios.
(2) The prediction ability of the decision tree is much better than that of the backpropagation network or that of the logit regression.
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author2 |
Tsung-Yuan Tseng |
author_facet |
Tsung-Yuan Tseng Bin-Chun Hsu 許彬淳 |
author |
Bin-Chun Hsu 許彬淳 |
spellingShingle |
Bin-Chun Hsu 許彬淳 The Prediction of Financial Distress of Cross-Ownership Public Listed Companies in Taiwan |
author_sort |
Bin-Chun Hsu |
title |
The Prediction of Financial Distress of Cross-Ownership Public Listed Companies in Taiwan |
title_short |
The Prediction of Financial Distress of Cross-Ownership Public Listed Companies in Taiwan |
title_full |
The Prediction of Financial Distress of Cross-Ownership Public Listed Companies in Taiwan |
title_fullStr |
The Prediction of Financial Distress of Cross-Ownership Public Listed Companies in Taiwan |
title_full_unstemmed |
The Prediction of Financial Distress of Cross-Ownership Public Listed Companies in Taiwan |
title_sort |
prediction of financial distress of cross-ownership public listed companies in taiwan |
publishDate |
2003 |
url |
http://ndltd.ncl.edu.tw/handle/01911346935443805244 |
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