NDLI: Firm Credit Scoring: A Series Two-Stage DEA Bootstrapped Approach

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Firm Credit Scoring: A Series Two-Stage DEA Bootstrapped Approach

Content Provider	MDPI
Author	Tsolas, Ioannis
Copyright Year	2021
Description	This paper employs a cross-sectional research design to collect quantitative data for a group of Greek pharmaceutical companies in order to evaluate their credit risk. The data are processed using a variety of quantitative approaches, including series two-stage data envelopment analysis (DEA) combined with bootstrap and hierarchical clustering. The results of the two-stage DEA bootstrapped analysis indicate that the key problem with the firms’ performance is a lack of effectiveness rather than operating efficiency. The lack of a correlation between operating efficiency and effectiveness indicates that the firms’ performance metrics are unrelated. As a result, a bootstrapped DEA-based synthetic indicator is developed to be used with the other performance metrics as inputs to hierarchical clustering to divide sample firms into credit risk clusters. The series two-stage DEA bootstrapped approach used in this study could aid firms in evaluating their performance and increasing their competitive advantages.
Starting Page	214
e-ISSN	19118074
DOI	10.3390/jrfm14050214
Journal	Journal of Risk and Financial Management
Issue Number	5
Volume Number	14
Language	English
Publisher	MDPI
Publisher Date	2021-05-10
Access Restriction	Open
Subject Keyword	Journal of Risk and Financial Management Social Sciences, Interdisciplinary Data Envelopment Analysis Bootstrap Credit Risk Pharmaceutical Firms Greece
Content Type	Text
Resource Type	Article

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