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Using Financial Ratios to Identify Romanian Distressed Companies

Madalina Andreica (), Mugurel Ionut Andreica () and Marin Andreica
Additional contact information
Madalina Andreica: The Department of Economic Informatics and Cybernetics / Departamentul de Informatică şi Cibernetică Economică - CSIE ASE - The Faculty of Economic Cybernetics, Statistics and Informatics, Academia de Studii Economice din Bucureşti - A.S.E. - The Bucharest Academy of Economic Studies / Academia de Studii Economice din Bucureşti
Mugurel Ionut Andreica: Parallel and Distributed Systems Laboratory [Bucarest] - University Politehnica of Bucarest

Authors registered in the RePEc Author Service: Madalina Ecaterina Popescu

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Abstract: In the context of the current financial crisis, when more companies are facing bankruptcy or insolvency, the paper aims to find methods to identify distressed firms by using financial ratios. The study will focus on identifying a group of Romanian listed companies, for which financial data for the year 2008 were available. For each company a set of 14 financial indicators was calculated and then used in a principal component analysis, followed by a cluster analysis, a logit model, and a CHAID classification tree.

Keywords: distressed company; financial ratio; cluster; CHAID; logit model (search for similar items in EconPapers)
Date: 2009-06-15
Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00474278
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Published in Economy Journal - Series Management (ISSN: 1454-0320), 2009, 12 (special issue no. 1), pp.46-55

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Related works:
Working Paper: Using Financial Ratios to Identify Romanian Distressed Companies (2010) Downloads
Journal Article: Using financial ratios to identify Romanian distressed companies (2009) Downloads
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