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- Publisher
- Springer Journals
- Copyright
- 2014 National Association for Business Economics
- ISSN
- 0007-666X
- eISSN
- 1554-432X
- DOI
- 10.1057/be.2013.31
- Publisher site
- See Article on Publisher Site
Abstract
Abstract This paper provides a methodological analysis of credit risk in manufacturing firms by using two different credit scoring approaches. The first is the traditional discriminant approach for bankruptcy prediction based on a logistic regression model, whereas the second, data envelopment analysis, is a nonparametric approach for measuring firms’ efficiency that does not require ex-ante information on bankrupted firms. By using a manufacturing sample of both healthy and bankrupted firms during the period 2003–09 we provide an in-depth comparison of discriminant analysis and data envelopment analysis and conclude that a correct evaluation of firms’ credit worthiness is the result of successive fine-tuning procedures requiring the use of multiple methodological tools.
Journal
Business Economics – Springer Journals
Published: Jan 1, 2014