Loughborough University
Browse
Thesis-2007-Aziz.pdf (6.17 MB)

Predicting corporate financial distress in UK

Download (6.17 MB)
thesis
posted on 2018-07-24, 09:29 authored by Muhammad A. Aziz
The 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 Aziz

Publisher 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

2007

Notes

A Doctoral Thesis. Submitted in partial fulfilment of the requirements for the award of Doctor of Philosophy at Loughborough University.

Language

  • en

Usage metrics

    Business School Theses

    Exports

    RefWorks
    BibTeX
    Ref. manager
    Endnote
    DataCite
    NLM
    DC