Search results for "bankruptcy"
showing 10 items of 76 documents
No fear of bankruptcy: the innate self-subsidizing forces in recreational fishing
2019
Abstract Recreational fishing, by both local residents and tourists, is a popular activity globally. The behaviour and motivation of recreational fishers is different from those of commercial fishers. Unlike the latter, the former are not dependent on making profits to continue fishing. Rather, the value of recreational fishing to those who engage in it is a combination of catches and experience values. The latter value implies that recreational fishers might continue fishing when they should not, analogous to the effect of subsidy in the commercial fishing sector. Hence, the term “self-subsidizing”: a fishery as one in which fishers subsidize themselves through an economic investment in ge…
Towards Bankruptcy Prediction: Deep Sentiment Mining to Detect Financial Distress from Business Management Reports
2018
Due to their disclosure required by law, business management reports have become publicly available for a large number of companies, and these reports offer the opportunity to assess the financial health or distress of a company, both quantitatively from the balance sheets and qualitatively from the text. In this paper, we analyze the potential of deep sentiment mining from the textual parts of business management reports and aim to detect signals for financial distress. We (1) created the largest corpus of business reports analyzed qualitatively to date, (2) defined a non-trivial target variable based on the so-called Altman Z-score, (3) developed a filtering of sentences based on class-co…
Simplified restructuring proceedings in Poland as an example of anti – crisis regulation due to the COVID-19 pandemic
2020
Summary The study discusses new legislative anti – crisis solutions adopted in Poland in connection with the COVID – 19 pandemic. The Polish legislator decided to introduce the so-called simplified restructuring procedure. This happened in the face of the expectations of both the jurisprudence of law and practice. On the one hand, the simplified restructuring procedure (the fifth independent type of restructuring procedure for an entrepreneur in Poland) allows for a quick, cheap and simplified conclusion of an arrangement with creditors outside the court, then approved by the court. On the other hand, the opening of such proceedings gives the debtor protection against enforcement at the cre…
An Application of Hybrid Models in Credit Scoring
2000
The predictive capability of parametric and non-parametric models in solving problems related to financial classification has been widely proved in empirical research carried out in the financial field, particulary in problems like bond rating, bankruptcy prediction and credit scoring. However, recently, it has been shown that a combination of different models generally reduces the prediction error, so that the best alternative to consider may not be a specific model but a combination of them. In this paper, we study hybrid systems based on the aggregation of individual (parametric and nonparametric) models. Our hybrids are built by using both parametric and non parametric models as the sys…
La fallibilità delle società a partecipazione pubblica
2011
Lo studio ripercorre i nodi interpretativi legati alla suscettibilità delle società in mano pubblica esercenti attività d'impresa commerciale di essere soggette al fallimento in caso d'insolvenza. L'analisi critica degli orientamenti dottrinali e giurisprudenziali sul tema consente l'emersione di interrogativi rimasti irrisolti cui l'autrice tenta di dare una risposta attraverso una ricostruzione della disorganica normativa di riferimento.
Medidas durante el COVID-19 y Derecho mercantil (Parte II: Derecho concursal).
2020
The crisis generated by the COVID-19 pandemic has forced it to take multiple measures of different kinds to mitigate its effects during the Alarm State. These measures include those that have effects on various commercial law institutions, such as those relating to insolvency issues.
Contagion in Bitcoin Networks
2019
12 pages, 6 figures. Paper accepted in 2nd Workshop on Blockchain and Smart Contract Technologies (BSCT 2019), workshop satellite of 22nd International Conference on Business Information Systems (BIS 2019); International audience; We construct the Google matrices of bitcoin transactions for all year quarters during the period of January 11, 2009 till April 10, 2013. During the last quarters the network size contains about 6 million users (nodes) with about 150 million transactions. From PageRank and CheiRank probabilities, analogous to trade import and export, we determine the dimensionless trade balance of each user and model the contagion propagation on the network assuming that a user go…
Research on Unrealistic Optimism among HoReCa Workers as a Possible Future Hotspot of Infections
2021
As we are facing a new surge of the highly infectious delta variant of COVID-19, there is an urgent need for research to reduce the harm before this next wave hits. In the present paper, we present data that is alarming. We have found that HoReCa (hotels, restaurants, and catering services) workers, who are highly exposed to many new social interactions in close contact, present an unrealistic optimism (UO) bias: they perceive themselves as less at risk to this virus in comparison to others. From the literature, we already know that individuals holding this view are less involved in preventive actions and present more risky behaviors. In the face of the delta variant, this leads to the conc…
Predicting Cryptocurrency Defaults
2019
We examine all available 146 Proof-of-Work based cryptocurrencies that started trading prior to the end of 2014 and track their performance until December 2018. We find that about 60% of those cryptocurrencies were eventually in default. The substantial sums of money involved mean those bankruptcies will have an enormous societal impact. Employing cryptocurrency-specific data, we estimate a model based on linear discriminant analysis to predict such defaults. Our model is capable of explaining 87% of cryptocurrency bankruptcies after only one month of trading and could serve as a screening tool for investors keen to boost overall portfolio performance and avoid investing in unreliable crypt…
Criteria for Selecting Restructuring Strategies for Distressed or Declining Enterprises
2005
This paper seeks to determine the criteria for choosing restructuring strategies for declining or distressed enterprises. First, the paper differentiates between different stages of decline and different levels of distress, of which bankruptcy is an application. Second, it reviews the different forms of restructuring appearing in the academic literature. Third, it formalizes a descriptive model of determining restructuring applicable to distressed and declining enterprises. Specifically, the selection of a restructuring strategy is influenced not only be general restructuring criteria (firm-specific factors, the environment and characteristics of different restructuring) but also by the dec…