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Corporate bankruptcy prediction in Japan

Journal of banking & finance, 1984-06, Vol.8 (2), p.229-247 [Peer Reviewed Journal]

1984 ;Copyright Elsevier Sequoia S.A. Jun 1984 ;ISSN: 0378-4266 ;EISSN: 1872-6372 ;DOI: 10.1016/0378-4266(84)90005-0 ;CODEN: JBFIDO

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  • Title:
    Corporate bankruptcy prediction in Japan
  • Author: Takahashi, Kichinosuke ; Kurokawa, Yukiharu ; Watase, Kazunori
  • Subjects: Bankruptcy ; Business failures ; Discriminant analysis ; Financial analysis ; Financial ratios ; Financial statements ; Predictions ; Studies
  • Is Part Of: Journal of banking & finance, 1984-06, Vol.8 (2), p.229-247
  • Description: The purpose of this study is to highlight the financial characteristics of failed firms in Japan, and to construct corporate bankruptcy prediction models with greater prediction accuracy. Our principal component analysis indicated that failed firms in Japan could be classified into two groups: a group having negative financial structures and a group having a declining flow of funds. Additionally, they can be classified into two other different categories of groups: one whose financial position during three years before shows a ‘V’ shape and another group that shows a ‘XXX’ shape. Our discriminant analysis indicated that improved prediction accuracy could be obtained by using, as predictor variables, both ratios and absolute amounts based on cash base financial statement data three years before failure. This data was adjusted to properly reflect the exceptions, reservations, and qualifications appearing in the audit reports and those based on accrual base financial statement data.
  • Publisher: Amsterdam: Elsevier B.V
  • Language: English
  • Identifier: ISSN: 0378-4266
    EISSN: 1872-6372
    DOI: 10.1016/0378-4266(84)90005-0
    CODEN: JBFIDO
  • Source: Alma/SFX Local Collection
    RePEc
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