Since it is a gradual process for listed companies to plunge into financial failure, it is desirable to discern tho potential risks in advance. This paper, with the adoption of multiple discriminant analyzing approach...Since it is a gradual process for listed companies to plunge into financial failure, it is desirable to discern tho potential risks in advance. This paper, with the adoption of multiple discriminant analyzing approach, tries to find out optimal variables and financial failure predicting model for Chinese listed companies based on audited accounting data.展开更多
An innovative and uniform framework based on a combination of Gabor wavelets with principal component analysis （PCA） and multiple discriminant analysis （MDA） is presented in this paper. In this framework, features...An innovative and uniform framework based on a combination of Gabor wavelets with principal component analysis （PCA） and multiple discriminant analysis （MDA） is presented in this paper. In this framework, features are extracted from the optimal random image components using greedy approach. These feature vectors are then projected to subspaces for dimensionality reduction which is used for solving linear problems. The design of Gabor filters, PCA and MDA are crucial processes used for facial feature extraction. The FERET, ORL and YALE face databases are used to generate the results. Experiments show that optimal random image component selection （ORICS） plus MDA outperforms ORICS and subspace projection approach such as ORICS plus PCA. Our method achieves 96.25%, 99.44% and 100% recognition accuracy on the FERET, ORL and YALE databases for 30% training respectively. This is a considerably improved performance compared with other standard methodologies described in the literature.展开更多
The probability of default(PD) is the key element in the New Basel Capital Accord and the most essential factor to financial institutions' risk management.To obtain good PD estimation,practitioners and academics h...The probability of default(PD) is the key element in the New Basel Capital Accord and the most essential factor to financial institutions' risk management.To obtain good PD estimation,practitioners and academics have put forward numerous default prediction models.However,how to use multiple models to enhance overall performance on default prediction remains untouched.In this paper,a parametric and non-parametric combination model is proposed.Firstly,binary logistic regression model(BLRM),support vector machine(SVM),and decision tree(DT) are used respectively to establish models with relatively stable and high performance.Secondly,in order to make further improvement to the overall performance,a combination model using the method of multiple discriminant analysis(MDA) is constructed.In this way,the coverage rate of the combination model is greatly improved,and the risk of miscarriage is effectively reduced.Lastly,the results of the combination model are analyzed by using the K-means clustering,and the clustering distribution is consistent with a normal distribution.The results show that the combination model based on parametric and non-parametric can effectively enhance the overall performance on default prediction.展开更多
文摘Since it is a gradual process for listed companies to plunge into financial failure, it is desirable to discern tho potential risks in advance. This paper, with the adoption of multiple discriminant analyzing approach, tries to find out optimal variables and financial failure predicting model for Chinese listed companies based on audited accounting data.
文摘An innovative and uniform framework based on a combination of Gabor wavelets with principal component analysis （PCA） and multiple discriminant analysis （MDA） is presented in this paper. In this framework, features are extracted from the optimal random image components using greedy approach. These feature vectors are then projected to subspaces for dimensionality reduction which is used for solving linear problems. The design of Gabor filters, PCA and MDA are crucial processes used for facial feature extraction. The FERET, ORL and YALE face databases are used to generate the results. Experiments show that optimal random image component selection （ORICS） plus MDA outperforms ORICS and subspace projection approach such as ORICS plus PCA. Our method achieves 96.25%, 99.44% and 100% recognition accuracy on the FERET, ORL and YALE databases for 30% training respectively. This is a considerably improved performance compared with other standard methodologies described in the literature.
基金supported by the National Natural Science Foundation of China Key Project under Grant No.70933003the National Natural Science Foundation of China under Grant Nos.70871109 and 71203247
文摘The probability of default(PD) is the key element in the New Basel Capital Accord and the most essential factor to financial institutions' risk management.To obtain good PD estimation,practitioners and academics have put forward numerous default prediction models.However,how to use multiple models to enhance overall performance on default prediction remains untouched.In this paper,a parametric and non-parametric combination model is proposed.Firstly,binary logistic regression model(BLRM),support vector machine(SVM),and decision tree(DT) are used respectively to establish models with relatively stable and high performance.Secondly,in order to make further improvement to the overall performance,a combination model using the method of multiple discriminant analysis(MDA) is constructed.In this way,the coverage rate of the combination model is greatly improved,and the risk of miscarriage is effectively reduced.Lastly,the results of the combination model are analyzed by using the K-means clustering,and the clustering distribution is consistent with a normal distribution.The results show that the combination model based on parametric and non-parametric can effectively enhance the overall performance on default prediction.
