“…(Sun and Shenoy 2007;Zhou et al 2012). Intelligent techniques applied in bankruptcy prediction include: neural networks (Alfaro et al 2008), self-organizing map (Zhu et al 2007), decision trees (Gepp et al 2009), case-based reasoning (Park and Han 2002), evolutionary algorithms (Varetto 1998), rough set (Sanchis et al 2007), support vector machines (Härdle et al 2009), etc. (Ravi Kumar andRavi 2007) provide a comprehensive review of the application of statistical and intelligent techniques to solve bankruptcy prediction problems, from year 1968 to 2005.…”