scholarly journals OBVIOUS AND HIDDEN FEATURES OF CORPORATE DEFAULT IN BANKRUPTCY MODELS

2019 ◽  
Vol 20 (2) ◽  
pp. 368-383 ◽  
Author(s):  
Michal Kuběnka ◽  
Renáta Myšková
Keyword(s):  
Financial Distress ◽  
Standard Sample ◽  
Test Sample ◽  
Order Of Accuracy ◽  
The Real ◽  
Corporate Default ◽  
Incorrect Prediction ◽  
Current Accuracy ◽  
Actual Accuracy

The aim of this article is to prove the key role of the structure of the research sample used for accuracy determining on the accuracy of bankruptcy models. The creators of these models report the accuracy usually in the range of 60 to 90%. The authors of this article claim that these values are inaccurate and misleading. The real I. type error should be detected on a sample where obvious features of financial default were eliminated. The research tested more than 1200 of thriving businesses and also 270 businesses in future bankruptcy. The research has determined real current accuracy of selected three bankruptcy models on the standard sample of Czech businesses amounting 67.77%, 62.27% and 74.36%. This confirmed hypothesis no. 1, which says that actual accuracy of bankruptcy model is lower than original accuracy indicated by model makers. An accuracy of 58.70%, 61.59% and 65.94% was measured on a sample where businesses with obvious features of financial distress were eliminated. Due to the modification of the test sample, the order of accuracy has changed. This confirmed hypothesis no. 2. The Index of Karas and Reznakova reached the highest overall accuracy of 80.31% including incorrect prediction of bankruptcy also.

EVERYDAY PRACTICE OF MOTHERS IN A PROVINCIAL SOVIET CITY IN THE 1950–60S

2020 ◽  
pp. 42-51
Author(s):  
Irina V. Bogdashina
Keyword(s):  
Well Being ◽  
Reproductive Behaviour ◽  
Working Mother ◽  
Material Wealth ◽  
The Real ◽  
Raising Children ◽  
Diffi Cult ◽  
The Family ◽  
The Right

The article reveals the measures undertaken by the Soviet state during the “thaw” in the fi eld of reproductive behaviour, the protection of motherhood and childhood. Compilations, manuals and magazines intended for women were the most important regulators of behaviour, determining acceptable norms and rules. Materials from sources of personal origin and oral history make it possible to clearly demonstrate the real feelings of women. The study of women’s everyday and daily life in the aspect related to pregnancy planning, bearing and raising children will allow us to compare the real situation and the course of implementation of tasks in the fi eld of maternal and child health. The demographic surge in the conditions of the economy reviving after the war, the lack of preschool institutions, as well as the low material wealth of most families, forced women to adapt to the situation. In the conditions of combining the roles of mother, wife and female worker, women entrusted themselves with almost overwork, which affected the health and well-being of the family. The procedure for legalising abortion gave women not only the right to decide the issue of motherhood themselves, but also made open the already necessary, but harmful to health, habitual way of birth control. Maternal care in diffi cult material and housing conditions became the concern of women and the older generation, who helped young women to combine the role of a working mother, which the country’s leadership confi dently assigned to women.

The role of buy-side anchoring bias: Evidence from the real estate market

2016 ◽  
Vol 38 ◽  
pp. 34-58 ◽  
Author(s):  
Chuang-Chang Chang ◽  
Ching-Hsiang Chao ◽  
Jin-Huei Yeh
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Anchoring Bias

scholarly journals The Role of Board Independence and Ownership Structure in Improving the Efficacy of Corporate Financial Distress Prediction Model Evidence from India

2021 ◽  
Vol 14 (7) ◽  
pp. 333
Author(s):  
Shilpa H. Shetty ◽  
Theresa Nithila Vincent
Keyword(s):  
Prediction Model ◽  
Ownership Structure ◽  
Financial Distress ◽  
Prediction Models ◽  
Receiver Operating Curve ◽  
Financial Measures ◽  
Financial Variables ◽  
Financial Distress Prediction ◽  
Distress Prediction

The study aimed to investigate the role of non-financial measures in predicting corporate financial distress in the Indian industrial sector. The proportion of independent directors on the board and the proportion of the promoters’ share in the ownership structure of the business were the non-financial measures that were analysed, along with ten financial measures. For this, sample data consisted of 82 companies that had filed for bankruptcy under the Insolvency and Bankruptcy Code (IBC). An equal number of matching financially sound companies also constituted the sample. Therefore, the total sample size was 164 companies. Data for five years immediately preceding the bankruptcy filing was collected for the sample companies. The data of 120 companies evenly drawn from the two groups of companies were used for developing the model and the remaining data were used for validating the developed model. Two binary logistic regression models were developed, M1 and M2, where M1 was formulated with both financial and non-financial variables, and M2 only had financial variables as predictors. The diagnostic ability of the model was tested with the aid of the receiver operating curve (ROC), area under the curve (AUC), sensitivity, specificity and annual accuracy. The results of the study show that inclusion of the two non-financial variables improved the efficacy of the financial distress prediction model. This study made a unique attempt to provide empirical evidence on the role played by non-financial variables in improving the efficiency of corporate distress prediction models.

Deductive Hedonism and the Anxiety of Influence

Utilitas ◽  
2000 ◽  
Vol 12 (3) ◽  
pp. 329-346 ◽  
Author(s):  
D. Weinstein
Keyword(s):  
Evolutionary Theory ◽  
Moral Rights ◽  
The Real ◽  
Herbert Spencer ◽  
Anxiety Of Influence

This paper examines the undervalued role of Herbert Spencer in Sidgwick's thinking. Sidgwick recognized Spencer's utilitarianism, but criticized him on the ground that he tried to deduce utilitarianism from evolutionary theory. In analysing these criticisms, this paper concludes that Spencer's deductive methodology was in fact closer to Sidgwick's empiricist position than Sidgwick realized. The real source of Sidgwick's unhappiness withSpencer lies with the substance of Spencer's utilitarianism, namely its espousal of indefeasible moral rights.

Knowing by Doing: The Role of Geometrical Practice in Aristotle’s Theory of Knowledge

Elenchos ◽  
2015 ◽  
Vol 36 (1) ◽  
pp. 45-88 ◽  
Author(s):  
Monica Ugaglia
Keyword(s):  
Scientific Knowledge ◽  
Theory Of Knowledge ◽  
States Of Mind ◽  
General Process ◽  
The Real ◽  
Analogical Model ◽  
Primary Function ◽  
The Relationship ◽  
The Way

Abstract Aristotle’s way of conceiving the relationship between mathematics and other branches of scientific knowledge is completely different from the way a contemporary scientist conceives it. This is one of the causes of the fact that we look at the mathematical passages we find in Aristotle’s works with the wrong expectation. We expect to find more or less stringent proofs, while for the most part Aristotle employs mere analogies. Indeed, this is the primary function of mathematics when employed in a philosophical context: not a demonstrative tool, but a purely analogical model. In the case of the geometrical examples discussed in this paper, the diagrams are not conceived as part of a formalized proof, but as a work in progress. Aristotle is not interested in the final diagram but in the construction viewed in its process of development; namely in the figure a geometer draws, and gradually modifies, when he tries to solve a problem. The way in which the geometer makes use of the elements of his diagram, and the relation between these elements and his inner state of knowledge is the real feature which interests Aristotle. His goal is to use analogy in order to give the reader an idea of the states of mind involved in a more general process of knowing.

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