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This book presents a study which makes the first attempt to construct a particular financial distress prediction model for growth enterprises on the Growth Enterprise Markets in Hong Kong and mainland China. This study firstly establishes two financial distress prediction models: one incorporating financial factors and the other incorporating non-financial and macroeconomic factors. Based on these two models, the present work develops a financial distress prediction model, which uses all the three sets of factors. It has been found that the model including firm-specific non-financial and…mehr

Produktbeschreibung
This book presents a study which makes the first attempt to construct a particular financial distress prediction model for growth enterprises on the Growth Enterprise Markets in Hong Kong and mainland China. This study firstly establishes two financial distress prediction models: one incorporating financial factors and the other incorporating non-financial and macroeconomic factors. Based on these two models, the present work develops a financial distress prediction model, which uses all the three sets of factors. It has been found that the model including firm-specific non-financial and macroeconomic factors performs better in predicting growth enterprises financial distress than does the model including firm-specific financial factors. Moreover, the model that considers all the three sets of factors has better predictive ability than does the model that incorporates firm-specific financial factors. It can be envisaged that investors, auditors and policymakers of the special markets would find the conclusion of this work extremely useful.
Autorenporträt
Hui Hu is an Associate Professor at the Economics and Management School, Wuhan University, China. He received his master s degree in economics from the Australian National University and his doctoral degree in business administration from the University of Canberra. His research is related to corporate governance and financial management.