Financial Failure Analysis Based on both Financial and Non-Financial Indicators with Financial Materilas
By means of factor analysis and logistic regression approaches, this paper predicted financial failures of Chinese listed companis in 2009 from the published data in 2006 of those companies. The study confirmed that by introducing non-financial indicators, the predictive power of financial failure analysis model has been further improved, from 80.77% up tp 86.54%.
Helen Zhang and David Jin
L. Z. Wang et al., "Financial Failure Analysis Based on both Financial and Non-Financial Indicators with Financial Materilas", Applied Mechanics and Materials, Vols. 63-64, pp. 1009-1012, 2011