Exploring Corporate Bankruptcy in Belgian Private Firms

Cultrera, Loredana; Bauweraerts, Jonathan

doi:10.5539/ijef.v9n3p108

Cited by 3 publications

(5 citation statements)

References 25 publications

(54 reference statements)

Supporting

Mentioning

Contrasting

Order By: Relevance

“…[17]), which is 12% for Cherenkov light and 23% for scintillation light. We note that the KamLAND 17inch PMTs use the same photocathode type with similar quantum efficiency; photocathodes with higher efficiencies are now starting to become better understood theoretically and may become commercially available [18][19][20]. In order to neglect the effect of the transit-time-spread (TTS) of the photodetectors, we use a TTS of 100 ps (σ), which, for example, can be achieved with large area picosecond photodetectors (LAPPDs) [21].…”

Section: Detector Modelmentioning

confidence: 99%

Separating double-beta decay events from solar neutrino interactions in a kiloton-scale liquid scintillator detector by fast timing

Elagin

Frisch

Naranjo

et al. 2017

Nuclear Instruments and Methods in Physics Research Section A:

View full text Add to dashboard Cite

We present a technique for separating nuclear double beta decay (ββ-decay) events from background neutrino interactions due to 8 B decays in the sun. This background becomes dominant in a kiloton-scale liquid-scintillator detector deep underground and is usually considered as irreducible due to an overlap in deposited energy with the signal. However, electrons from 0νββ-decay often exceed the Cherenkov threshold in liquid scintillator, producing photons that are prompt and correlated in direction with the initial electron direction. The use of large-area fast photodetectors allows some separation of these prompt photons from delayed isotropic scintillation light and, thus, the possibility of reconstructing the event topology. Using a simulation of a 6.5 m radius liquid scintillator detector with 100 ps resolution photodetectors, we show that a spherical harmonics analysis of early-arrival light can discriminate between 0νββ-decay signal and 8 B solar neutrino background events on a statistical basis. Good separation will require the development of a slow scintillator with a 5 nsec risetime.

show abstract

Section: Detector Modelmentioning

confidence: 99%

Separating double-beta decay events from solar neutrino interactions in a kiloton-scale liquid scintillator detector by fast timing

Elagin

Frisch

Naranjo

et al. 2017

Nuclear Instruments and Methods in Physics Research Section A:

View full text Add to dashboard Cite

show abstract

“…Ratio analysis of firms has been used to reveal financial health or failure ever since Beaver [48] and Altman [49], meanwhile many studies visited liquidity in this context [50,51,52,53,54] along with the indicators or variables in the recent literature on distress and bankruptcy [55,56,57,58,59,60] and trade credits [61,62] or bank credits [63,64,65] including accounts receivable in a specific sector [66]. However, we have founded a gap therein.…”

Section: Resultsmentioning

confidence: 99%

“…Liquidity is also among the first step indicators for corporate failures [59]. If there occurs any mismatch between current assets and liabilities, the firm is potentially on the spot for a response to the financial distress [53].…”

Section: Resultsmentioning

confidence: 99%

Bank Credits and Their Influence on Accounts Receivable: The Case of the Forestry Products Sector in Turkey

Acikgoz

Demirkol

2019

JEMT

View full text Add to dashboard Cite

The leverage of bank credit may result in different consequences on current assets. As the accounting procedures report financial credit in two significant terms, short-term bank credit and long-term bank credit, the study tries to reveal the effect of those liabilities on the level of accounts receivable in the forestry products sub-sector in Turkey. The study examines a set of long-term data including current ratio, cash and cash equivalents ratio, and short-term inventories ratio as control variables to test two different models in which either short or long-term bank credit consequence is predicted. The results confirm that time constraints of bank credits have both significant roles on the level of account receivables. However, the significance is barely higher for the effect of long-term bank credit. Therefore, we conclude that the businesses of the forestry products sector in Turkey should also be sensitive primarily on the level of their long-term bank credit along with the level of short-term bank credit amongst the liabilities in balancing the accumulation of accounts receivable. Thus, businesses of the sector would better consider the level of bank credits in the conditions of risky, non-performing or accumulating accounts receivable.

show abstract

“…In particular, several previous studies indicate that, with various financial ratios, corporate bankruptcy can be predicted with success for at least five years before failure. The choice of the best predictors among the large number of financial indicators suitable for predicting firms" insolvency and bankruptcy has been guided by theoretical background, personal judgment, statistical methods and empirical findings obtained in previous studies (see, among others, Cultrera & Bauweraerts, 2017;Sensini, 2016;Sensini, 2015;Amendola et al, 2015;Jackson & Wood, 2013;Altman, 2000;Zmijewski, 1984). More specifically, the financial ratios considered in the analysis have been chosen on the basis of a few different criteria, that is they have a relevant financial meaning in a failure context, have been commonly used in failure predictions literature and also the information needed to calculate these ratios is available (Sensini, 2015).…”

Section: Evaluation Of Firm Indebtednessmentioning

confidence: 99%

“…Several theoretical and empirical studies have attempted to identify the best predictors among the large number of financial indicators suitable for predicting firms" insolvency and default (see, among others, Cultrera & Bauweraerts, 2017;Sensini, 2016;Sensini, 2015;Amendola et al, 2015;Jackson & Wood, 2013;Altman, 2000;Zmijewski, 1984). Sensini (2015), in particular, shows that the performance of default risk models in terms of forecast accuracy is mainly related to the selection of the best set of predictors.…”

Section: Introductionmentioning

confidence: 99%

Financial Bankruptcy across European Countries

Succurro

2017

IJEF

View full text Add to dashboard Cite

The aim of this research is to describe corporate bankruptcy across Western European countries and propose a simple and reliable default prediction model for private manufacturing firms in six EU member states. Using firm-level accounting data taken from the Orbis-Europe Database, published by Bureau Van Dijk, we first propose a simple Indebtedness index which considers the multifaceted aspects of debt and allows to make interesting comparison among firms, countries, industrial sectors and over time. Second, we estimate a logit model, based on both the first step computed Indebtedness score and additional non-financial firms" characteristics, which allows to compute firms" predicted probabilities of default in each country. The empirical findings show that the Indebtedness score is statistically significant in explaining bankruptcy and it enters all the regressions with the highest coefficient and level of significance. However, while the indebtedness score is a valuable bankruptcy predictor for Italy, Germany, Portugal and Spain, which are bank-based economies, it is relatively less important for France and UK, being countries more strongly oriented toward the financial market. The overall evidence highlights a good reliability of our multi-country model for the prediction of corporate bankruptcies across Europe.

show abstract

Exploring Corporate Bankruptcy in Belgian Private Firms

Cited by 3 publications

References 25 publications

Separating double-beta decay events from solar neutrino interactions in a kiloton-scale liquid scintillator detector by fast timing

Separating double-beta decay events from solar neutrino interactions in a kiloton-scale liquid scintillator detector by fast timing

Bank Credits and Their Influence on Accounts Receivable: The Case of the Forestry Products Sector in Turkey

Financial Bankruptcy across European Countries

Contact Info

Product

Resources

About