A procedure for evaluating grain elevator bankruptcies

Robert B. Wharton, Susan D. Harper and Harlon D. Traylor
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Robert B. Wharton: Department of Agricultural Economics and Agribusiness, Louisiana State University, Postal: Department of Agricultural Economics and Agribusiness, Louisiana State University
Susan D. Harper: Department of Agricultural Economics and Agribusiness, Louisiana State University, Postal: Department of Agricultural Economics and Agribusiness, Louisiana State University
Harlon D. Traylor: Department of Agricultural Economics and Agribusiness, Louisiana State University, Postal: Department of Agricultural Economics and Agribusiness, Louisiana State University

Agribusiness, 1987, vol. 3, issue 4, 427-437

Abstract: During the 1981-1982 season, seven grain elevator bankruptcies occurred in Louisiana resulting in significant losses to warehouse receipts and scale ticket holders, to creditors, and to owners of the elevators. Through a rigorous comparison of certain financial and operating ratios of those that failed with a sample of survivors, a procedure for evaluation and prediction of failures was investigated. Measures of liquidity, solvency, cash on hand, and the number of grains handled predicted six of the seven bankruptcies and survival for 19 of the other 22 firms in the sample. Similar results were obtained when applied to an out-of-sample population.

Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:wly:agribz:v:3:y:1987:i:4:p:427-437

DOI: 10.1002/1520-6297(198724)3:4<427::AID-AGR2720030408>3.0.CO;2-K

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