Skip navigation
Logo
User training | Reference and search service

Library catalog

Retrievo
EDS
b-on
More
resources
Content aggregators
Please use this identifier to cite or link to this item:

acessibilidade

http://hdl.handle.net/10071/8117
acessibilidade
Title: Owner liability and financial reporting information as predictors of firm default in bank loans
Authors: Bhimani, A.
Gulamhussen, M.
Lopes, S. R.
Keywords: Business law
Firm performance
Accounting information
Ownership
Default
K22
L25
M41
G32
G39
Issue Date: 2014
Publisher: Springer Netherlands
Abstract: We examine the effects of owner liability and non-accounting and financial accounting information on the probability of default as defined in Basel II in bank loan contracted by non listed firms. We model default as a function of owner liability and accounting and non-accounting information of non-listed firms, drawing on 43,117 annual accounts of 16,029 firms over a 7-year period. Our estimations based on mixed logistic regressions with random parameters show that the predicted default probability of full-liability firms is 0.72 times that of limited liability firms. The likelihood ratio test for omitted variables confirms the additional predictive ability of liability status over and above other non-accounting and financial accounting information. A Heckman self-selection model does not indicate sampling bias. The particular definition of default used in the study enables the findings to be generalizable across other institutional contexts.
Description: WOS:000336226400008 (Nº de Acesso Web of Science)
Peer reviewed: Sim
URI: https://ciencia.iscte-iul.pt/public/pub/id/15446
http://hdl.handle.net/10071/8117
ISSN: 1380-6653
Publisher version: The definitive version is available at: http://dx.doi.org/10.1007/s11142-013-9269-0
Appears in Collections:BRU-RI - Artigo em revista científica internacional com arbitragem científica

Files in This Item:
acessibilidade
File Description SizeFormat 
publisher_version_Gulamhussen2014.pdf345.49 kBAdobe PDFView/Open    Request a copy


FacebookTwitterDeliciousLinkedInDiggGoogle BookmarksMySpace
Formato BibTex MendeleyEndnote Currículo DeGóis 

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.