Academic Journal
The effect of size on the failure probabilities of SMEs : an empirical study on the US market using discrete hazard model
| العنوان: | The effect of size on the failure probabilities of SMEs : an empirical study on the US market using discrete hazard model |
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| المؤلفون: | Hudson, Robert, El Kalak, Izidin |
| بيانات النشر: | Elsevier |
| سنة النشر: | 2015 |
| المجموعة: | University of Hull: Repository@Hull |
| مصطلحات موضوعية: | SMEs, Bankruptcy, Size, Discrete-time duration-dependent hazard model, G200 |
| الوصف: | This paper investigates the extent to which the size affects the SME probabilities of bankruptcy. Using a dataset of (11,117) US non-financial firms, of which (465) filed for insolvency under chapters 7/11 between 1980 and 2013. We forecast the bankruptcy probabilities by developing four discrete-time duration-dependent hazard models for SMEs, Micro, Small, and Medium firms. A comparison of the default prediction models for medium firms and SMEs suggests that an almost identical set of explanatory variables affect the default probabilities leading us to believe that treating each of these groups separately has no material impact on the decision making process. However, comparisons between the micro and small firms with the SMEs firms strongly suggest that these categories need to be considered separately when modelling their credit risk. |
| نوع الوثيقة: | article in journal/newspaper |
| اللغة: | English |
| تدمد: | 1057-5219 |
| Relation: | https://hull-repository.worktribe.com/output/383000; International review of financial analysis; Volume 43; Issue January; Pagination 135-145; https://hull-repository.worktribe.com/file/383000/1/Article.pdf |
| DOI: | 10.1016/j.irfa.2015.11.009 |
| الاتاحة: | https://hull-repository.worktribe.com/file/383000/1/Article.pdf https://hull-repository.worktribe.com/output/383000 https://doi.org/10.1016/j.irfa.2015.11.009 |
| Rights: | openAccess |
| رقم الانضمام: | edsbas.EAA31BE9 |
| قاعدة البيانات: | BASE |
| تدمد: | 10575219 |
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| DOI: | 10.1016/j.irfa.2015.11.009 |