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A Hybrid Analysis Approach to Improve Financial Distress Forecasting: Empirical Evidence from Iran

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  • Shakiba Khademolqorani
  • Ali Zeinal Hamadani
  • Farimah Mokhatab Rafiei

Abstract

Bankruptcy prediction is an important problem facing financial decision support for stakeholders of firms, including auditors, managers, shareholders, debt-holders, and potential investors, as well as academic researchers. Popular discourse on financial distress forecasting focuses on developing the discrete models to improve the prediction. The aim of this paper is to develop a novel hybrid financial distress model based on combining various statistical and machine learning methods. Then multiple attribute decision making method is exploited to choose the optimized model from the implemented ones. Proposed approaches have also been applied in Iranian companies that performed previous models and it can be consolidated with the help of the hybrid approach.

Suggested Citation

  • Shakiba Khademolqorani & Ali Zeinal Hamadani & Farimah Mokhatab Rafiei, 2015. "A Hybrid Analysis Approach to Improve Financial Distress Forecasting: Empirical Evidence from Iran," Mathematical Problems in Engineering, Hindawi, vol. 2015, pages 1-9, May.
    • Handle: RePEc:hin:jnlmpe:178197
    DOI: 10.1155/2015/178197
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