文章基本信息

标题：CONNECTING CORPORATE GOVERNANCE TO COMPANIES’ PERFORMANCE BY ARTIFICIAL NEURAL NETWORKS
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作者：Darie MOLDOVAN ; Mircea RUSU
期刊名称：Financial Studies
印刷版ISSN：2066-6071
出版年度：2015
卷号：19
期号：2A
出版社：“Victor Slăvescu‿Centre for Financial and Monetary Research
摘要：The objective of this paper is to demonstrate the utility of Artificial Neural Networks in connecting the corporate governance variables, among financial information, to companies' performance. We have considered two well known indicators for estimating companies' performance (Tobin's Q ratio and Altman Z-Score) and we used them as target variables for classification using the neural networks. The results proved to be robust after experimenting with three different datasets, containing information on 1400 companies from three stock indexes: S&P 500, STOXX Europe 600 and STOXX Eastern Europe 300.
关键词：Artificial Neural Networks; classification; corporate governance; Altman Z-Score; Tobin's Q ratio