文章基本信息

标题：Good Corporate Governance and Predicting Financial Distress Using Logistic and Probit Regression Model
其他标题：Good Corporate Governance and Predicting Financial Distress Using Logistic and Probit Regression Model
本地全文：下载
作者：Juniarti Juniarti
期刊名称：Jurnal Akuntansi dan Keuangan
印刷版ISSN：1411-0288
出版年度：2013
卷号：15
期号：1
页码：43-50
DOI：10.9744/jak.15.1.43-50
语种：English
出版社：Universitas Kristen Petra
摘要：The study aims to prove whether good corporate governance (GCG) is able to predict the probability of companies experiencing financial difficulties. Financial ratios that traditionally used for predicting bankruptcy remains used in this study. Besides, this study also compares logit and probit regression models, which are widely used in research related accounting bankruptcy prediction. Both models will be compared to determine which model is more superior. The sample in this study is the infrastructure, transportation, utilities & trade, services and hotels companies experiencing financial distress in the period 2008-2011. The results show that GCG and other three variables control i.e DTA, CR and company category do not prove significantly to predict the probability of companies experiencing financial difficulties. NPM, the only variable that proved significantly distinguishing healthy firms and distress. In general, logit and probit models do not result in different conclusions. Both of the models confirm the goodness of fit of models and the results of hypothesis testing. In terms of classification accuracy, logit model proves more accurate predictions than the probit models.
关键词：good corporate governance; financial distress; financial ratio; logistic regression; probit regression