The Comparison of the Economic Value in Hazard Models with Accounting Approach for Bankruptcy Prediction

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Salehi Nazanin; AZIMI YANCHESHMEH M.

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Journal: JOURNAL OF MANAGEMENT AND ACCOUNTIN SCHOOL Year:2018 | Volume:15 | Issue:58 Page(s): 107-135

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Title

The Comparison of the Economic Value in Hazard Models with Accounting Approach for Bankruptcy Prediction

Author(s)

Salehi Nazanin | AZIMI YANCHESHMEH M. | Issue Writer Certificate

Keywords

economic valueQ1

Basel IIIQ1

bankruptcy predictingQ2

accounting modelQ1

hazard modelQ1

Abstract

The purpose of comparing the bankruptcy prediction models is introducing the best model to avoid wasting investment and rare resources. So it is crucial to choose a model that has more economic values, investigations and comparisons often have been made between bankruptcy prediction models that have considered the accuracy dimension. In recent years, other dimensions have been paid attention to as well. These dimensions are the explanatory power and models of economic value. As the economic dimension has not been investigated in Iran, for the first time comparing the accounting approach with hazard models in economic value dimension are discussed in this study. For this purpose, the hazard model of (Shumway, 2001; Campbell et al., 2008), and accounting based model of Pourheydari and Koopayee (2010) is considered. The Loan Pricing Stein (2005) and Blochlinger and C. Lippold (2006) also two proposed measures by Basel (Ӏ Ӏ Ӏ ) including return on assets and return on risk-weighted assets have been used to assess the economic value. The sample of research is consisted of 242 admitted companies on Tehran Stock Exchange from 2004 to 2015. The results show that the hazard models have more economic value than accounting model and the model of Campbell et al (2008) is the most economical mode.

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APA: Copy

Salehi, Nazanin, & AZIMI YANCHESHMEH, M.. (2018). The Comparison of the Economic Value in Hazard Models with Accounting Approach for Bankruptcy Prediction. JOURNAL OF MANAGEMENT AND ACCOUNTIN SCHOOL, 15(58 ), 107-135. SID. https://sid.ir/paper/360086/en

Vancouver: Copy

Salehi Nazanin, AZIMI YANCHESHMEH M.. The Comparison of the Economic Value in Hazard Models with Accounting Approach for Bankruptcy Prediction. JOURNAL OF MANAGEMENT AND ACCOUNTIN SCHOOL[Internet]. 2018;15(58 ):107-135. Available from: https://sid.ir/paper/360086/en

IEEE: Copy

Nazanin Salehi, and M. AZIMI YANCHESHMEH, “The Comparison of the Economic Value in Hazard Models with Accounting Approach for Bankruptcy Prediction,” JOURNAL OF MANAGEMENT AND ACCOUNTIN SCHOOL, vol. 15, no. 58 , pp. 107–135, 2018, [Online]. Available: https://sid.ir/paper/360086/en

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