{"title":"财务业绩与公司困境:寻找印度注册制造业企业的共同因素","authors":"Jessica Thacker, Debdatta Saha","doi":"10.1007/s10614-024-10620-6","DOIUrl":null,"url":null,"abstract":"<p>This paper knits the concepts of financial performance and financial distress in a unified framework. The machine learning algorithm of extreme gradient boosting (XGBoost) is employed to identify the set of factors predicting financial distress and performance and panel logistic regressions indicate the direction of influence and significance of these common factors. The XGBoost algorithm indicates the existence of some common factors, such as lagged net profit margin, growth of profit after tax, lagged assets turnover ratio, growth of sales and log of total asset. Additionally, past performance is found to impact current financial distress and vice-versa. The regression results shows that profit growth significantly improves financial performance while reducing corporate distress. This calls for a common framework to analyze these two phenomena for registered firms.</p>","PeriodicalId":50647,"journal":{"name":"Computational Economics","volume":null,"pages":null},"PeriodicalIF":1.9000,"publicationDate":"2024-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Financial Performance and Corporate Distress: Searching for Common Factors for Firms in the Indian Registered Manufacturing Sector\",\"authors\":\"Jessica Thacker, Debdatta Saha\",\"doi\":\"10.1007/s10614-024-10620-6\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p>This paper knits the concepts of financial performance and financial distress in a unified framework. The machine learning algorithm of extreme gradient boosting (XGBoost) is employed to identify the set of factors predicting financial distress and performance and panel logistic regressions indicate the direction of influence and significance of these common factors. The XGBoost algorithm indicates the existence of some common factors, such as lagged net profit margin, growth of profit after tax, lagged assets turnover ratio, growth of sales and log of total asset. Additionally, past performance is found to impact current financial distress and vice-versa. The regression results shows that profit growth significantly improves financial performance while reducing corporate distress. This calls for a common framework to analyze these two phenomena for registered firms.</p>\",\"PeriodicalId\":50647,\"journal\":{\"name\":\"Computational Economics\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":1.9000,\"publicationDate\":\"2024-08-06\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Computational Economics\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.1007/s10614-024-10620-6\",\"RegionNum\":4,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Computational Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1007/s10614-024-10620-6","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
Financial Performance and Corporate Distress: Searching for Common Factors for Firms in the Indian Registered Manufacturing Sector
This paper knits the concepts of financial performance and financial distress in a unified framework. The machine learning algorithm of extreme gradient boosting (XGBoost) is employed to identify the set of factors predicting financial distress and performance and panel logistic regressions indicate the direction of influence and significance of these common factors. The XGBoost algorithm indicates the existence of some common factors, such as lagged net profit margin, growth of profit after tax, lagged assets turnover ratio, growth of sales and log of total asset. Additionally, past performance is found to impact current financial distress and vice-versa. The regression results shows that profit growth significantly improves financial performance while reducing corporate distress. This calls for a common framework to analyze these two phenomena for registered firms.
期刊介绍:
Computational Economics, the official journal of the Society for Computational Economics, presents new research in a rapidly growing multidisciplinary field that uses advanced computing capabilities to understand and solve complex problems from all branches in economics. The topics of Computational Economics include computational methods in econometrics like filtering, bayesian and non-parametric approaches, markov processes and monte carlo simulation; agent based methods, machine learning, evolutionary algorithms, (neural) network modeling; computational aspects of dynamic systems, optimization, optimal control, games, equilibrium modeling; hardware and software developments, modeling languages, interfaces, symbolic processing, distributed and parallel processing