Financial Distress Warning: An Evaluation System including Ecological Efficiency
This article established an evaluation system including ecological efficiency that can provide a more accurate financial distress warning for companies. Based on the data of listed companies, Data Envelopment Analysis (DEA) is applied to evaluating the business efficiency, financial efficiency, fina...
Saved in:
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Wiley
2021-01-01
|
| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2021/5605892 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1832561580026363904 |
|---|---|
| author | Shuang Wu Hui Zhang Yuan Tian Liyuan Shi |
| author_facet | Shuang Wu Hui Zhang Yuan Tian Liyuan Shi |
| author_sort | Shuang Wu |
| collection | DOAJ |
| description | This article established an evaluation system including ecological efficiency that can provide a more accurate financial distress warning for companies. Based on the data of listed companies, Data Envelopment Analysis (DEA) is applied to evaluating the business efficiency, financial efficiency, financing efficiency, human capital efficiency, and ecological efficiency, and the accuracy of the evaluation system that includes ecological efficiency is measured by artificial neural networks (ANNs). Besides, the logit model is applied to test the results. Our experiments indicate that participating in ecological efficiency improves the evaluation system of financial distress warnings, and its accuracy is much better than the traditional evaluation system in the long run. The logit model confirms the essential of ecological indicators in financial distress warning, and the behavior of observing environmental regulation will prevent enterprises from getting into financial distress. Finally, suggestions on improving green finance and promoting technological innovation are propounded, in which technological innovation (TI) is the core of an enterprise’s competitiveness, and green finance can accelerate that process. |
| format | Article |
| id | doaj-art-964bcd7b45b9444c89405086df401289 |
| institution | Kabale University |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2021-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-964bcd7b45b9444c89405086df4012892025-02-03T01:24:42ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2021-01-01202110.1155/2021/56058925605892Financial Distress Warning: An Evaluation System including Ecological EfficiencyShuang Wu0Hui Zhang1Yuan Tian2Liyuan Shi3College of Economics and Management, Nanjing Forestry University, Nanjing, Jiangsu 210037, ChinaCollege of Economics and Management, Nanjing Forestry University, Nanjing, Jiangsu 210037, ChinaCollege of Business, Beijing Union University, Beijing 100025, ChinaCollege of Business, Beijing Union University, Beijing 100025, ChinaThis article established an evaluation system including ecological efficiency that can provide a more accurate financial distress warning for companies. Based on the data of listed companies, Data Envelopment Analysis (DEA) is applied to evaluating the business efficiency, financial efficiency, financing efficiency, human capital efficiency, and ecological efficiency, and the accuracy of the evaluation system that includes ecological efficiency is measured by artificial neural networks (ANNs). Besides, the logit model is applied to test the results. Our experiments indicate that participating in ecological efficiency improves the evaluation system of financial distress warnings, and its accuracy is much better than the traditional evaluation system in the long run. The logit model confirms the essential of ecological indicators in financial distress warning, and the behavior of observing environmental regulation will prevent enterprises from getting into financial distress. Finally, suggestions on improving green finance and promoting technological innovation are propounded, in which technological innovation (TI) is the core of an enterprise’s competitiveness, and green finance can accelerate that process.http://dx.doi.org/10.1155/2021/5605892 |
| spellingShingle | Shuang Wu Hui Zhang Yuan Tian Liyuan Shi Financial Distress Warning: An Evaluation System including Ecological Efficiency Discrete Dynamics in Nature and Society |
| title | Financial Distress Warning: An Evaluation System including Ecological Efficiency |
| title_full | Financial Distress Warning: An Evaluation System including Ecological Efficiency |
| title_fullStr | Financial Distress Warning: An Evaluation System including Ecological Efficiency |
| title_full_unstemmed | Financial Distress Warning: An Evaluation System including Ecological Efficiency |
| title_short | Financial Distress Warning: An Evaluation System including Ecological Efficiency |
| title_sort | financial distress warning an evaluation system including ecological efficiency |
| url | http://dx.doi.org/10.1155/2021/5605892 |
| work_keys_str_mv | AT shuangwu financialdistresswarninganevaluationsystemincludingecologicalefficiency AT huizhang financialdistresswarninganevaluationsystemincludingecologicalefficiency AT yuantian financialdistresswarninganevaluationsystemincludingecologicalefficiency AT liyuanshi financialdistresswarninganevaluationsystemincludingecologicalefficiency |