Incorporating media news to predict financial distress: Case study on Chinese listed companies
Lifang Zhang,
Mohammad Zoynul Abedin,
Zhenkun Liu
Abstract:Financial distress prediction has been a prominent research field for several decades. Accurate prediction of financial distress not only helps to safeguard the interests of investors but also improves the ability of managers to manage financial risks. Prior studies predominantly rely on accounting metrics derived from financial statements to predict financial distress. Our research takes a step further by incorporating media news to enhance the accuracy of financial distress prediction. Based on the data from… Show more
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