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Yi Jiang

Yi Jiang

BCom (Hons) Sydney
PhD Candidate

The University of Sydney
NSW 2006 Australia


Bio

This research aims to develop a class of financial distress prediction models based on a large sample of Chinese distress data. Until recently, most empirical studies on corporate financial distress prediction have been carried out in developed (mainly Western) economies, which are unlikely to be applicable to the Chinese context. The reasons include the unique institutional, economic, socio-political and regulatory background of China. To better approximate the continuum of corporate financial health observable across Chinese companies, this research models corporate financial distress in a four-state setting, embracing ‘ST’, ‘*ST’, ‘delisting’ and ‘non-ST’ firms. The statistical framework involves a comparison of a multinomial logit model, a neural network model with a more advanced machine learning technique such as generalized boosting.


Thesis working title

Modeling corporate financial distress in China

This research aims to develop a class of financial distress prediction models based on a large sample of Chinese distress data. Until recently, most empirical studies on corporate financial distress prediction have been carried out in developed (mainly Western) economies, which are unlikely to be applicable to the Chinese context. The reasons include the unique institutional, economic, socio-political and regulatory background of China. To better approximate the continuum of corporate financial health observable across Chinese companies, this research models corporate financial distress in a four-state setting, embracing ‘ST’, ‘*ST’, ‘delisting’ and ‘non-ST’ firms. The statistical framework involves a comparison of a multinomial logit model, a neural network model with a more advanced machine learning technique such as generalized boosting.

Supervisors: Stewart Jones, David Johnstone