Bankruptcy forecasting: A hybrid approach using Fuzzy c-means clustering and Multivariate Adaptive Regression Splines (MARS)

► A major fallacy of some of the prior research on bankruptcy prediction is the manner in which the sample is drawn and the model accuracy is defined. In these studies, each one of the bankrupt companies is matched with a known non-bankrupt company from the same time period. Then, a model that predi...

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