Thesis-2007-Aziz.pdf (6.17 MB)
Predicting corporate financial distress in UK
thesis
posted on 2018-07-24, 09:29 authored by Muhammad A. AzizThe motivation for empirical research in corporate financial distress prediction
is clear: the early detection of financial distress and the use of corrective measures
are preferable to protection under insolvency law. Many different models have been
used to predict corporate financial distress, and choosing between them for empirical
application is not straightforward. One objective of this research is providing a
comprehensive review, clarifying the problem of model choice in empirical
prediction of corporate financial distress. To that end, we conduct a meta-analysis
of the literature reviewed in this thesis. This analysis supports the use of Multiple
Discriminant Analysis on rather objective grounds. This study adopts a novel
approach by using a large panel of UK-quoted firms (3135) from 1990 to 2004 and
develops a multiple discriminant distress prediction model, using 58 firm-specific
financial ratios. The results are also compared with cross-sectional data sets and using
GDP growth rate as a control variable. [Continues.]
Funding
Muslim Aid.
History
School
- Business and Economics
Department
- Economics
Publisher
© M. Adnan AzizPublisher statement
This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/Publication date
2007Notes
A Doctoral Thesis. Submitted in partial fulfilment of the requirements for the award of Doctor of Philosophy at Loughborough University.Language
- en