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A multicriteria discrimination method for the prediction of financial distress: The case of Greece

Zopounidis Konstantinos, Doumpos, Michael

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URIhttp://purl.tuc.gr/dl/dias/95FBD063-8DCD-4EA1-A88C-A294C5266DD5-
Identifierhttps://doi.org/10.17578/3-2-1-
Languageen-
Extent31 pagesen
TitleA multicriteria discrimination method for the prediction of financial distress: The case of Greeceen
CreatorZopounidis Konstantinosen
CreatorΖοπουνιδης Κωνσταντινοςel
CreatorDoumpos, Michaelen
Content SummaryFinancial distress prediction is an essential issue in finance. Especially in emerging economies, predicting the future financial situation of individual corporate entities is even more significant, bearing in mind the general economic turmoil that can be caused by business failures. The research on developing quantitative financial distress prediction models has been focused on building discriminant models distinguishing healthy firms from financially distressed ones. Following this discrimination approach, this paper explores the applicability of a new non–parametric multicriteria decision aid discrimination method, called M.H.DIS, to predict financial distress using data concerning the case of Greece. A comparison with discriminant and logit analysis is performed using both a basic and a holdout sample. The results show that M.H.DIS can be considered as a new alternative tool for financial distress prediction. Its performance is superior to discriminant analysis and comparable to logit analysis (JEL G33, C61, C44, C25).en
Type of ItemPeer-Reviewed Journal Publicationen
Type of ItemΔημοσίευση σε Περιοδικό με Κριτέςel
Licensehttp://creativecommons.org/licenses/by/4.0/en
Date of Item2015-10-27-
Date of Publication1999-
SubjectCapability, Financial (Financial literacy)en
SubjectFinancial capability (Financial literacy)en
SubjectLiteracy, Financialen
Subjectfinancial literacyen
Subjectcapability financial financial literacyen
Subjectfinancial capability financial literacyen
Subjectliteracy financialen
Bibliographic CitationM. Doumpos, C. Zopounidis ,"A multicriteria discrimination method for the prediction of financial distress: The case of Greece," Multin. Finance J., vol. 3, no. 2,pp. 71-101,1999.doi: 10.17578/3-2-1en

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