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Adjusting financial ratios: a Bayesian analysis of the Spanish manufacturing sector

✍ Scribed by José Luis Gallizo; Fernando Jiménez; Manuel Salvador

Book ID
114230734
Publisher
Elsevier Science
Year
2002
Tongue
English
Weight
275 KB
Volume
30
Category
Article
ISSN
0305-0483

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Multivariate partial adjustment of finan
Multivariate partial adjustment of financial ratios: a Bayesian hierarchical approach
✍ Jose Luis Gallizo; Pilar Gargallo; Manuel Salvador 📂 Article 📅 2008 🏛 John Wiley and Sons 🌐 English ⚖ 175 KB

## Abstract In this paper we propose a multivariate extension of the partial adjustment model of financial ratios. To that end, we use a dynamic factor model which assumes that financial ratios measuring, essentially, the same economic–financial dimension of the firm evolve in a similar way, reflec