Absence of industry effect in modelling corporate collapse in Australia

Hossari, Ghassan 2009, Absence of industry effect in modelling corporate collapse in Australia, Global economy and finance journal, vol. 2, no. 1, pp. 20-30.

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Title Absence of industry effect in modelling corporate collapse in Australia
Author(s) Hossari, Ghassan
Journal name Global economy and finance journal
Volume number 2
Issue number 1
Start page 20
End page 30
Publisher World Business Institute
Place of publication Berwick, Vic.
Publication date 2009-03
ISSN 1834-5883
Keyword(s) finance
Summary This paper investigates whether or not an industry effect is present when modelling corporate collapse in Australia. The investigation is motivated by a lack of consistency in the literature regarding such an effect. Moreover, this paper makes a unique contribution by applying an innovative methodological approach, called Multi-Level Modelling (MLM), for model derivation. Unlike the traditional two-step methodology used so far in the literature, MLM carries out model derivation and tests for an industry effect in a single step. Finally, the effectiveness of MLM is demonstrated using a sample of Australian publicly listed companies during the period 1989 to 2005; empirical results point to the absence of an industry effect.
Language eng
Field of Research 150201 Finance
Socio Economic Objective 970115 Expanding Knowledge in Commerce, Management, Tourism and Services
HERDC Research category C1 Refereed article in a scholarly journal
Persistent URL http://hdl.handle.net/10536/DRO/DU:30021286

Document type: Journal Article
Collection: Deakin Graduate School of Business
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