Estimación del Riesgo de crédito para empresas del sector real en Colombia
The objective of this research is to proposed a Probit Model for unbalanced panel data with random effects to estimate the probability of bankruptcy in the real sector firms in Colombia, to infer of credit risk of solvent and in financial distress firms, taking information from solvent companies and...
- Autores:
-
Sepúlveda Rivillas, Claudia
Reina Gutiérrez, Walter
Gutiérrez Betancur, Juan Carlos
- Tipo de recurso:
- Fecha de publicación:
- 2012
- Institución:
- Universidad EAFIT
- Repositorio:
- Repositorio EAFIT
- Idioma:
- spa
- OAI Identifier:
- oai:repository.eafit.edu.co:10784/729
- Acceso en línea:
- http://hdl.handle.net/10784/729
- Palabra clave:
- Operating and financial leverage
bankruptcy likelihood
unbalanced panel data
Apalancamiento operativo y financiero
probabilidad de quiebra
panel de datos desbalanceado
- Rights
- License
- Acceso abierto
| Summary: | The objective of this research is to proposed a Probit Model for unbalanced panel data with random effects to estimate the probability of bankruptcy in the real sector firms in Colombia, to infer of credit risk of solvent and in financial distress firms, taking information from solvent companies and financial stress, the databases of the Superintendency of Companies, and BPR, since 2002-2008. Was based on the fundamental analysis, focusing on indicators of profitability, leverage, liquidity and solvency proposed by Penman (2010). The contribution of this research is the emphasis on operating and financial leverage and its effect on the probability of bankruptcy. Like main finding is highlights the less harmful effect of operating leverage in front the impact of financial leverage in times of crisis. |
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