Forecast the Company Risk Default by Distance to Default, Target of Default and Company''s Growth Targets

碩士 === 朝陽科技大學 === 保險金融管理系碩士班 === 97 === The company often had difficult operate news as the impact of the economic environment in recent years. For make Investors understand the stuck company have the financial risk crisis or not, and achieve the capability of avoid risk in time. Therefore, this stu...

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Bibliographic Details
Main Authors: Chi-Yu Hsieh, 謝琪宇
Other Authors: Tung-Ming Yan
Format: Others
Language:zh-TW
Published: 2009
Online Access:http://ndltd.ncl.edu.tw/handle/93584127034238825850
Description
Summary:碩士 === 朝陽科技大學 === 保險金融管理系碩士班 === 97 === The company often had difficult operate news as the impact of the economic environment in recent years. For make Investors understand the stuck company have the financial risk crisis or not, and achieve the capability of avoid risk in time. Therefore, this study used the Taiwan''s listed company at stock exchange market and listed company at over-the-counter market that were happen the default events from 1998 to 2008 to be the study samples. And according the Distance to Default, Z-score, Zmijewski score and beta to compute and use company''s growth targets to be the study variables to forecast the accuracy of company breaks events happen, and attempts to confirmation the company breaks events happened by uses few variables and build a best logistic model. The study result showed:there were have effective explanation and forecast to authentication the company risk default by used the three variables, Z-score value, Zmijewski score and the growth opportunity.