Autori
Castellani, Davide
Piatti, Domenico
Cincinelli, Peter

Titolo
Ruolo dell'efficienza nella previsione del default aziendale
Periodico
Piccola impresa
Anno: 2015 - Fascicolo: 2 - Pagina iniziale: 53 - Pagina finale: 84

This study investigates the role of technical efficiency in predicting the probability of default of a sample of Italian SMEs in the period 2007-2010. This specific period is of particular interest because it is centered on the beginning of the Global Financial Crisis. We argue that technical efficiency allows for a forward-looking perspective and can contribute to shed more light on the reasons behind the default of many Italian SMEs in the particular period considered. The technical efficiency is estimated with a stochastic frontier approach and the efficiency ratio is used as independent variable, along with several financial ratios. Consistently with the literature, the results suggest that efficiency is a good predictor when the financial ratios are also considered.



SICI: 0394 7947(2015)2<53:RDNPDD>2.0.ZU;2-J
Testo completo: http://rivistapiccolaimpresa.uniurb.it/index.php/piccola/article/view/189/195

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