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Entropy for business failure prediction : an improved prediction model for the construction industry
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Bal, Jay, Cheung, Yen and Wu, Hsu-Che (2013) Entropy for business failure prediction : an improved prediction model for the construction industry. Advances in Decision Sciences, Volume 2013 . Article number 459751 . doi:10.1155/2013/459751 ISSN 2090-3359 .
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Official URL: http://dx.doi.org/10.1155/2013/459751
Abstract
This paper examines empirically the effectiveness of entropy measures derived from information theory combined with discriminant analysis in the prediction of construction business failure. Such failure in modern complex supply chains is an extremely disruptive force, and its likelihood is a key factor in the prequalification appraisal of contractors. The work described, using financial data from the Taiwanese construction industry, extends the classical methods by applying Shannon's information theory to improve their prediction ability and provides an alternative to newer artificial-intelligence-based approaches.
Item Type: | Journal Article | ||||||||
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Subjects: | H Social Sciences > HD Industries. Land use. Labor | ||||||||
Divisions: | Faculty of Science, Engineering and Medicine > Engineering > WMG (Formerly the Warwick Manufacturing Group) | ||||||||
Library of Congress Subject Headings (LCSH): | Construction industry -- Mathematical models, Business failures -- Mathematical models, Entropy (Information theory) | ||||||||
Journal or Publication Title: | Advances in Decision Sciences | ||||||||
Publisher: | Hindawi Publishing Corporation | ||||||||
ISSN: | 2090-3359 | ||||||||
Official Date: | 2013 | ||||||||
Dates: |
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Volume: | Volume 2013 | ||||||||
Number of Pages: | 14 | ||||||||
Article Number: | Article number 459751 | ||||||||
DOI: | 10.1155/2013/459751 | ||||||||
Status: | Peer Reviewed | ||||||||
Publication Status: | Published | ||||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||||
Date of first compliant deposit: | 28 December 2015 | ||||||||
Date of first compliant Open Access: | 28 December 2015 |
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