Graphical Data Representation in Bankruptcy Analysis
11
Table 1. Summary Statistics. qα is an α quantile. IQR is the interquartile range.
|
Var. |
Name |
Group |
q0.01 |
Median |
q0.99 |
IQR |
|
K1 |
Pre-tax profit margin |
Profitability |
-26.9 |
2.3 |
78.5 |
5.9 |
|
K2 |
Operating profit margin |
Profitability |
-24.6 |
3.8 |
64.8 |
6.3 |
|
K3 |
Cash flow ratio |
Liquidity |
-22.6 |
5.0 |
120.7 |
9.4 |
|
K4 |
Capital recovery ratio |
Liquidity |
-24.4 |
11.0 |
85.1 |
17.1 |
|
K5 |
Debt cover |
Liquidity |
-42.0 |
17.1 |
507.8 |
34.8 |
|
K6 |
Days receivable |
Activity |
0.0 |
31.1 |
184.0 |
32.7 |
|
K7 |
Days payable |
Activity |
0.0 |
23.2 |
248.2 |
33.2 |
|
K8 |
Equity ratio |
Financing |
0.3 |
14.2 |
82.0 |
21.4 |
|
K9 |
Equity ratio (adj.) |
Financing |
0.5 |
19.3 |
86.0 |
26.2 |
|
K10 Random Variable |
Test |
-2.3 |
0.0 |
2.3 |
1.4 | |
|
K11 Net income ratio |
Profitability |
-29.2 |
2.3 |
76.5 |
5.9 | |
|
K12 Leverage ratio |
Leverage |
0.0 |
0.0 |
164.3 |
4.1 | |
|
K13 Debt ratio |
Liquidity |
-54.8 |
1.0 |
80.5 |
21.6 | |
|
K14 Liquidity ratio |
Liquidity |
0.0 |
2.0 |
47.9 |
7.1 | |
|
K15 |
Liquidity 1 |
Liquidity |
0.0 |
3.8 |
184.4 |
14.8 |
|
K16 |
Liquidity 2 |
Liquidity |
2.7 |
63.5 |
503.2 |
58.3 |
|
K17 |
Liquidity 3 |
Liquidity |
8.4 116.9 |
696.2 |
60.8 | |
|
K18 |
Short term debt ratio |
Financing |
2.4 |
47.8 |
95.3 |
38.4 |
|
K19 |
Inventories ratio |
Investment |
0.0 |
28.0 |
83.3 |
34.3 |
|
K20 |
Fixed assets ownership r. |
Leverage |
1.1 |
60.6 |
3750.0 |
110.3 |
|
K21 Net income change |
Growth |
-50.6 |
3.9 |
165.6 |
20.1 | |
|
K22 Own funds yield |
Profitability |
-510.5 |
32.7 |
1998.5 |
81.9 | |
|
K23 Capital yield |
Profitability |
-16.7 |
8.4 |
63.1 |
11.0 | |
|
K24 Net interest ratio |
Cost struct. |
-3.7 |
1.1 |
36.0 |
1.9 | |
|
K25 |
Own funds/pension prov. |
r. Financing |
0.4 |
17.6 |
84.0 |
25.4 |
|
K26 |
Tangible asset growth |
Growth |
0.0 |
24.2 |
108.5 |
32.6 |
|
K27 |
Own funds/provisions ratio Financing |
1.7 |
24.7 |
89.6 |
30.0 | |
|
K28 |
Tangible asset retirement |
Growth |
1.0 |
21.8 |
77.8 |
18.1 |
|
K29 |
Interest coverage ratio |
Cost struct. |
-1338.6 |
159.0 |
34350.0 |
563.2 |
|
K30 |
Cash flow ratio |
Liquidity |
-14.1 |
5.2 |
116.4 |
8.9 |
|
K31 |
Days of inventories |
Activity |
0.0 |
42.9 |
342.0 |
55.8 |
|
K32 |
Current liabilities ratio |
Financing |
0.3 |
58.4 |
98.5 |
48.4 |
|
K33 Log of total assets |
Other |
4.9 |
7.9 |
13.0 |
2.1 | |
Figure 11 represents the absolute improvement for SVM over robust DA
(upper line) and SVM over robust logit regression (lower line). We can see
that for all models containing variables K5, K29, K7, K33, K18, K21, K24
and one of the remaining variables the median AR was always higher for the
SVM. Thus, the SVM model is always dominating in accuracy DA and logit
regression with regard to AR.