Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/144425 
Authors: 
Year of Publication: 
2011
Series/Report no.: 
NBB Working Paper No. 213
Publisher: 
National Bank of Belgium, Brussels
Abstract: 
This document describes the development of a financial health indicator based on companies' financial statements. This indicator is conceived as a weighted combination of variables, which is obtained through a model discriminating between failing firms and non-failing firms. The definition of failure is based on a legal criterion, namely that a company is considered to have failed if it has faced bankruptcy or judicial administration in the past. Based on the model results, companies are positioned in financial health classes, which are intended to be included in the "company files" designed by the Central Balance Sheet Office.
Subjects: 
Corporate failure
logistic regression
micro-data
financial statements
JEL: 
C25
G30
G33
Document Type: 
Working Paper

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