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A fuzzy knowledge-based decision aiding method for the assessment of financial risk: the case of corporate bankruptcy prediction

Matsatsinis Nikolaos, Spanos,M, Dounias, G, Zopounidis, Constantin

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URIhttp://purl.tuc.gr/dl/dias/4C3395D6-6DA2-4895-B073-AC48B1475C28-
Languageen-
Extent8 pagesen
TitleA fuzzy knowledge-based decision aiding method for the assessment of financial risk: the case of corporate bankruptcy predictionen
CreatorMatsatsinis Nikolaosen
CreatorΜατσατσινης Νικολαοςel
CreatorSpanos,Men
CreatorDounias, Gen
CreatorZopounidis, Constantinen
Content SummaryIn many real world problems it is often difficult to find dependencies between the variables of a process or more general of a system, dependencies which can be used for controlling a plant, forecasting a value or classifying a group of objects into pre-defined classes. Since in many cases, analytic dependencies are unknown or very difficult to set up, the formulation of dependencies with the help of fuzzy rules offers a useful alternative. This paper presents the combined use of a fuzzy rule generation method and a data mining technique for financial risk assessment. The case of business failure is considered here and the classification of the firms into two classes is sought. Initially, a method for the generation of fuzzy rules is used. Then these rules are imported to a data mining technique so as the firms can be classified into as bankrupt or non-bankrupt. The fuzzy method supports the discovery of relevant dependencies by the automatic generation of if/then rules on the basis of expert knowledge, while the data mining technique, with the help of a fuzzy rule-based classifier, assigns an object to different classes on the basis of various different characteristics (financial ratios). Finally, a thorough comparison with discriminant analysis, logit and probit analysis is performed based on the same sample.en
Type of ItemΠλήρης Δημοσίευση σε Συνέδριοel
Type of ItemConference Full Paperen
Licensehttp://creativecommons.org/licenses/by/4.0/en
Date of Item2015-11-03-
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. Spanos, G. Dounias, N. Matsatsinis, C. Zopounidis ," A fuzzy knowledge-based decision aiding method for the assessment of financial risk: the case of corporate bankruptcy prediction,"in European Symposium on Intelligent Techniques,1999,pp. 14-21.en

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