The study of Early Warning System of Business Financial Distress Using Financial Ratios of Bank's Credit Rating List in Taiwan Listed & OTC Firms
碩士 === 嶺東科技大學 === 財務金融研究所 === 94 === This paper is to predict business financial distress of financial banking lending using the representing financial ratios in financial statement. The representing financial rations are not only credit rating list but also the variables of financial ratios which d...
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ndltd-TW-094LTC003040222015-10-13T10:34:47Z http://ndltd.ncl.edu.tw/handle/56061478695171704283 The study of Early Warning System of Business Financial Distress Using Financial Ratios of Bank's Credit Rating List in Taiwan Listed & OTC Firms 依銀行業之信用評等表之財務比率對企業財務危機之預警性分析-以台灣上市上櫃公司為例 Wen-Ping Huang 黃雯蘋 碩士 嶺東科技大學 財務金融研究所 94 This paper is to predict business financial distress of financial banking lending using the representing financial ratios in financial statement. The representing financial rations are not only credit rating list but also the variables of financial ratios which do not belong to credit rating list such as cash flow analysis, times-interest-earned analysis and profitability analysis. Moreover, these variables of the study are determined, taking previous three years in the year of business financial distress. The data are focused manufacturing industry of Listed and OTC firms chosen from 1996 to 2005. We apply the Logistic Regression model to build the fittest precaution model. The results show that the accuracy of distress precaution in the OTC firms is less than that the Listed firms. If using the eight financial ratio variables taking previous three years in the year of business financial distress in credit rating list to predict the distress precaution, the amount of accuracy in the OTC firms would be 50%, 100% and 50%, and that the Listed firms would be 92.9%, 71.4% and 89.3%. Besides, if using additional more significant variables through the mean-difference test, the amount of accuracy in the OTC firms would be 64.3%, 50%, and 78.6% and the other firms would be 78.6%, 78.6% and 92.9%. In other words, the more distinctive financial ratios in the Listed firms are Profit Before Taxes, ROA, ROE, Cash Flow Ratio, Cash Flow Proper Ratio and Cash Reinvestment Ratio. However, in the OTC firms, the more distinctive financial ratio is ROE. Yen-Chen Chiu 邱臙珍 2006 學位論文 ; thesis 0 zh-TW |
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碩士 === 嶺東科技大學 === 財務金融研究所 === 94 === This paper is to predict business financial distress of financial banking lending using the representing financial ratios in financial statement. The representing financial rations are not only credit rating list but also the variables of financial ratios which do not belong to credit rating list such as cash flow analysis, times-interest-earned analysis and profitability analysis. Moreover, these variables of the study are determined, taking previous three years in the year of business financial distress. The data are focused manufacturing industry of Listed and OTC firms chosen from 1996 to 2005.
We apply the Logistic Regression model to build the fittest precaution model. The results show that the accuracy of distress precaution in the OTC firms is less than that the Listed firms. If using the eight financial ratio variables taking previous three years in the year of business financial distress in credit rating list to predict the distress precaution, the amount of accuracy in the OTC firms would be 50%, 100% and 50%, and that the Listed firms would be 92.9%, 71.4% and 89.3%. Besides, if using additional more significant variables through the mean-difference test, the amount of accuracy in the OTC firms would be 64.3%, 50%, and 78.6% and the other firms would be 78.6%, 78.6% and 92.9%.
In other words, the more distinctive financial ratios in the Listed firms are Profit Before Taxes, ROA, ROE, Cash Flow Ratio, Cash Flow Proper Ratio and Cash Reinvestment Ratio. However, in the OTC firms, the more distinctive financial ratio is ROE.
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Yen-Chen Chiu |
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Yen-Chen Chiu Wen-Ping Huang 黃雯蘋 |
author |
Wen-Ping Huang 黃雯蘋 |
spellingShingle |
Wen-Ping Huang 黃雯蘋 The study of Early Warning System of Business Financial Distress Using Financial Ratios of Bank's Credit Rating List in Taiwan Listed & OTC Firms |
author_sort |
Wen-Ping Huang |
title |
The study of Early Warning System of Business Financial Distress Using Financial Ratios of Bank's Credit Rating List in Taiwan Listed & OTC Firms |
title_short |
The study of Early Warning System of Business Financial Distress Using Financial Ratios of Bank's Credit Rating List in Taiwan Listed & OTC Firms |
title_full |
The study of Early Warning System of Business Financial Distress Using Financial Ratios of Bank's Credit Rating List in Taiwan Listed & OTC Firms |
title_fullStr |
The study of Early Warning System of Business Financial Distress Using Financial Ratios of Bank's Credit Rating List in Taiwan Listed & OTC Firms |
title_full_unstemmed |
The study of Early Warning System of Business Financial Distress Using Financial Ratios of Bank's Credit Rating List in Taiwan Listed & OTC Firms |
title_sort |
study of early warning system of business financial distress using financial ratios of bank's credit rating list in taiwan listed & otc firms |
publishDate |
2006 |
url |
http://ndltd.ncl.edu.tw/handle/56061478695171704283 |
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