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Analysis of institutional authors

Fabregat-Aibar LAuthor

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June 16, 2020
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Can the SOM analysis predict business failure using capital structure theory? Evidence from the subprime crisis in Spain

Publicated to:Axioms: Mathematical Logic And Mathematical Physics. 9 (2): 46- - 2020-06-01 9(2), DOI: 10.3390/AXIOMS9020046

Authors: Pedro Lucanera, Juan; Fabregat-Aibar, Laura; Scherger, Valeria; Vigier, Hernan

Affiliations

CEDETS UPSO, Ciudad Cali 320, RA-8000 Bahia Blanca, Buenos Aires, Argentina - Author
CEDETS-UPSO - Author
Univ Nacl Sur CEDETS UPSO, Dept Econ, Ciudad Cali 320, RA-8000 Bahia Blanca, Buenos Aires, Argentina - Author
Univ Nacl Sur UNS IIESS UNS CONICET, Dept Econ, Campus Altos de Palihue, RA-8000 Bahia Blanca, Buenos Aires, Argentina - Author
Univ Rovira & Virgili, Fac Business & Econ, Dept Business Management, Av Bellissens, Reus 43204, Spain - Author
Universidad Nacional del Sur - Author
Universitat Rovira i Virgili - Author
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Abstract

© 2020 by the authors. The paper aims to identify which variables related to capital structure theory predict business failure in the Spanish construction sector during the subprime crisis. An artificial neural network (ANN) approach based on Self-Organizing Maps (SOM) is proposed, which allows one to cluster between default and active firms' groups. The similarities and differences between the main features in each group determine the variables that explain the capacities of failure of the analyzed firms. The network tests whether the factors that explain leverage, such as profitability, growth opportunities, size of the company, risk, asset structure, and age of the firm, can be suitable to predict business failure. The sample is formed by 152 construction firms (76 default and 76 active) in the Spanish market. The results show that the SOM correctly predicts 97.4% of firms in the construction sector and classifies the firms in five groups with clear similarities inside the clusters. The study proves the suitability of the SOM for predicting business bankruptcy situations using variables related to capital structure theory and financial crises.

Keywords

BankruptcyBankruptcy predictionBehaviorBusiness failureCapital structureCorporate failureDecisionsFinancial ratiosFirmsImpactInsolvencyInvestmentNeural networkSom

Quality index

Bibliometric impact. Analysis of the contribution and dissemination channel

The work has been published in the journal Axioms: Mathematical Logic And Mathematical Physics, Q3 Agency Scopus (SJR), its regional focus and specialization in Logic, give it significant recognition in a specific niche of scientific knowledge at an international level.

Independientemente del impacto esperado determinado por el canal de difusión, es importante destacar el impacto real observado de la propia aportación.

Según las diferentes agencias de indexación, el número de citas acumuladas por esta publicación hasta la fecha 2025-07-05:

  • WoS: 5
  • Scopus: 5

Impact and social visibility

From the perspective of influence or social adoption, and based on metrics associated with mentions and interactions provided by agencies specializing in calculating the so-called "Alternative or Social Metrics," we can highlight as of 2025-07-05:

  • The use of this contribution in bookmarks, code forks, additions to favorite lists for recurrent reading, as well as general views, indicates that someone is using the publication as a basis for their current work. This may be a notable indicator of future more formal and academic citations. This claim is supported by the result of the "Capture" indicator, which yields a total of: 40 (PlumX).

It is essential to present evidence supporting full alignment with institutional principles and guidelines on Open Science and the Conservation and Dissemination of Intellectual Heritage. A clear example of this is:

  • The work has been submitted to a journal whose editorial policy allows open Open Access publication.
  • Assignment of a Handle/URN as an identifier within the deposit in the Institutional Repository: http://hdl.handle.net/20.500.11797/imarina6406067

Leadership analysis of institutional authors

This work has been carried out with international collaboration, specifically with researchers from: Argentina.