A fuzzy knowledge-based decision aiding method for the assessment of financial risk: the case of corporate bankruptcy predictionA fuzzy knowledge-based decision aiding method for the assessment of financial risk: the case of corporate bankruptcy prediction Πλήρης Δημοσίευση σε Συνέδριο Conference Full Paper 2015-11-031999enIn 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.http://creativecommons.org/licenses/by/4.0/14-21European Symposium on Intelligent Techniques Matsatsinis Nikolaos Ματσατσινης Νικολαος Spanos,M Dounias, G Zopounidis, Constantin Capability, Financial (Financial literacy) Financial capability (Financial literacy) Literacy, Financial financial literacy capability financial financial literacy financial capability financial literacy literacy financial