Financial Distress Prediction of Cooperative Financial Institutions-Evidence for Taiwan Credit Unions

被引：1

作者：

Kang, Chien-Min ^{[1
]}

Wang, Ming-Chieh ^{[2
]}

Lin, Lin ^{[3
]}

机构：

[1] Natl Chi Nan Univ, Coll Management, PhD Program Strategy & Dev Emerging Ind, 1 Univ Rd, Nantou 545, Taiwan

[2] Natl Chi Nan Univ, Dept Int Business Studies, Nantou 545, Taiwan

[3] Min Jiang Univ, Newhuadu Business Sch, Fuzhou 350108, Peoples R China

来源：

INTERNATIONAL JOURNAL OF FINANCIAL STUDIES | 2022年 / 10卷 / 02期

关键词：

credit unions; financial distress; hazard; Merton DD; DISCRIMINANT-ANALYSIS; BANK FAILURES; NEURAL-NETWORKS; CORPORATE-DEBT; RISK; PERFORMANCE; BANKRUPTCY; DEFAULT; RATIOS; LOGIT;

D O I：

10.3390/ijfs10020030

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

In response to relatively little evidence on the determinants of the financial distress in cooperative financial institutions (e.g., Credit Unions), this paper proposes a distress indicator of Merton Distance to default (Merton DD), which was constructed with a z-score, possessed improved predictive capability, but reducing equity volatility. This model possesses the advantages of both hazard and modified Merton DD model, which could timely reflect market volatility and predict when distress would occur. As a demonstration, we applied this model to forecast the financial distress of credit unions in Taiwan. The results can provide more information to researchers.

引用

页数：25

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