<> "The repository administrator has not yet configured an RDF license."^^ . <> . . . "Machine Learning for Zombie Hunting.\r\nFirms’ Failures and Financial Constraints."^^ . "In this contribution, we exploit machine learning techniques to predict the risk of failure of firms.\r\nThen, we propose an empirical definition of zombies as firms that persist in a status of high\r\nrisk, beyond the highest decile, after which we observe that the chances to transit to lower risk\r\nare minimal. We implement a Bayesian Additive Regression Tree with Missing Incorporated in\r\nAttributes (BART-MIA), which is specifically useful in our setting as we provide evidence that\r\npatterns of undisclosed accounts correlate with firms’ failures. After training our algorithm\r\non 304,906 firms active in Italy in the period 2008-2017, we show how it outperforms proxy\r\nmodels like the Z-scores and the Distance-to-Default, traditional econometric methods, and\r\nother widely used machine learning techniques. We document that zombies are on average\r\n21% less productive, 76% smaller, and they increased in times of financial crisis. In general,\r\nwe argue that our application helps in the design of evidence-based policies in the presence of\r\nmarket failures, for example optimal bankruptcy laws. We believe our framework can help to\r\ninform the design of support programs for highly distressed firms after the recent pandemic\r\ncrisis."^^ . "2020-06" . . "1/2020" . . . . . . . . . . . . "Falco J."^^ . "Bargagli-Stoffi"^^ . "Falco J. Bargagli-Stoffi"^^ . . "Armando"^^ . "Rungi"^^ . "Armando Rungi"^^ . . "Massimo"^^ . "Riccaboni"^^ . "Massimo Riccaboni"^^ . . . . . . "Machine Learning for Zombie Hunting.\r\nFirms’ Failures and Financial Constraints. (PDF)"^^ . . . . . . "File per upload.pdf"^^ . . "HTML Summary of #4077 \n\nMachine Learning for Zombie Hunting. \nFirms’ Failures and Financial Constraints.\n\n" . "text/html" . . . "HA Statistics"@en . . . "HG Finance"@en . .