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| Author: | Laitinen, E. K. Laitinen, T. |
| Title: | Cash management behavior and failure prediction |
| Journal: | Journal of Business Finance and Accounting
1998 : SEP-OCT, VOL. 25:7-8, p. 893-919 |
| Index terms: | CASH MANAGEMENT BANKRUPTCY FINLAND |
| Language: | eng |
| Abstract: | This paper evaluates the information contained in static and dynamic inventory cash management models to predict failure in a sample of 41 small and middle-sized Finnish bankrupt companies and their nonbankrupt counterparts. The estimates of the elasiticity of cash balance with respect to the volume of transactions is significantly lower for the failed companies. Only the scale elasticity appears to be a statistically significant discriminating variable, and only in the first year before bankruptcy. |
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