碩士 / 國立交通大學 / 管理科學研究所 / 83 / Financial ratios has been used to predict business failure or
bankruptcy. They can also be used as explanation variables of
financial classification models to identify financial
character- istics. The purpose of this study is to explore the
effect of factor analysis on the predictive ability of logistic
regression which was applied to financial classification
models. This study uses stepwise selection technique on the
logistic regression. The study simulates the financial ratios
of bankrupt and non- bankrupt firms by means of the validation
results of financial ratios'' probability density functions. The
simulative and empi- rical data are used to study the effect of
factor analysis. The empirical results show that the predictive
ability of financial ratios is higher than of common factors.
The simulat- ive results show that the difference between the
predictive ability of financial ratios and of common factors
are not signi- ficant in the first year before bankruptcy. The
more the time is away from bankruptcy, the more the defference
is significant. The results indicate that factor analysis
technique can reduce dimensions and make it convenient to
explain the meanings of variables, but it will pay by lowering
predictive ability.
| Identifer | oai:union.ndltd.org:TW/083NCTU0457021 |
| Date | January 1995 |
| Creators | Yi-Jane Lin, 林怡真 |
| Contributors | Cherng G. Ding, 丁承 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 65 |
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