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Título
El fracaso empresarial a través de la información económico-financiera: ratios explicativos
Autor
Facultad/Centro
Área de conocimiento
Es parte de
Anales de economía aplicada 2009 , XXIII Reunión Anual ASEPELT (Covilhâ, Portugal)
Cita Bibliográfica
Mures Quintana, M. J., García Gallego, A., y Vallejo Pascual, M. E. (2009). El fracaso empresarial a través de la información económico-financiera: ratios explicativos. In Anales de economía aplicada 2009 , XXIII Reunión Anual ASEPELT (Covilhâ, Portugal) (pp. 663–664). ASEPELT; Delta Publicaciones. http://www.asepelt.org/ficheros/File/Anales/2009-Portugal/ANALES_ANAIS_2009.pdf
Editorial
ASEPELT, Asociación Científica Internacional de Economía Aplicada
Fecha
2009
Resumen
[EN] Since Beaver's and Altman's work, business failure prediction has become an important topic in corporate finance literature and numerous studies have been developed, using a variety of statistical methodologies for predictive purposes. Due to the absence of a theory of financial distress, most models have included as independent variables to predict failure a lot of financial ratios widely used in previous failure prediction
models.
The purpose of this paper is to identify financial characteristics that best explain business failure. Taking a sample of failed and non-failed firms with head office in Castilla y León (Spain), we apply a principal components analysis (PCA) in order to reduce the large list of available financial ratios to a smaller number of factors with high explicative power. To confirm that the selected ratios contain the same information as the removed ones, we later apply a canonical correlation analysis (CCA).
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