Dự báo khả năng gặp khó khăn tài chính cho các công ty niêm yết tại Sở Giao dịch Chứng khoán TP. Hồ Chí Minh
DOI:
https://doi.org/10.24311/jabes/2016.27.3.792Keywords:
Financial distress, Logit modelAbstract
Using a panel involving 1.137 annual observations with a sample of 167 non-financial firms listed on Hochiminh Stock Exchange (HSX) from 2006 until 2014, this paper explores the usefulness of combining financial, macro, and market variables to predict the financial distress among these enterprises. Initially, we introduce several financial variables to the regression model, which is, in turn, modified via adopting the others, and the regression analyses proceed with different lag lengths using Logit regression technique for the panel data. The empirical evidence indicates that three sorts of the variables serve to improve the accuracy in forecasting financial distress; particularly, the macro ones are found to be the most influential
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