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Francesco Ciampi

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Francesco Ciampi

WSEAS Transactions on Business and Economics

Print ISSN: 1109-9526
E-ISSN: 2224-2899

Volume 15, 2018

Notice: As of 2014 and for the forthcoming years, the publication frequency/periodicity of WSEAS Journals is adapted to the 'continuously updated' model. What this means is that instead of being separated into issues, new papers will be added on a continuous basis, allowing a more regular flow and shorter publication times. The papers will appear in reverse order, therefore the most recent one will be on top.

Volume 15, 2018

Using Corporate Social Responsibility Orientation Characteristics for Small Enterprise Default Prediction

AUTHORS: Francesco Ciampi

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ABSTRACT: This study aims to analy e w ether the characteristics of a company corporate social esponsibility (CSR) orientation could improve the accuracy rates of small enterprise (SE) bankruptcy prediction model . A sample made up of 382 Italian SEs is analysed and, by applying ogistic egression, a SE default prediction model is designed using both CSR orientation characteristics and financial ratios as default predictors. The accuracy of this model is then compared to that of a second model based only on financial ratios as predictive variables. The main results are: i) using CSR orientation characteristics significantly improves the effectiveness of SE default prediction modelling; ii) the smaller a firm the higher the increase in the prediction accuracy that can be obtained by using CSR characteristics as default predictors; iii) SE default prediction modelling should be separately implemented for different size groups of firms

KEYWORDS: Corporate social esponsibility, Financial ratios, Bankruptcy, Credit rating, Default prediction modelling, Small enterprise


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WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 15, 2018, Art. #13, pp. 113-127

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