A dynamic ratio-based model for signalling corporate collapse

The recognition of behavioural elements in finance has caused major shifts in the analytic framework pertaining to ratio-based modeling of corporate collapse. The modeling approach so far has been based on the classical rational theory in behavioural economics, which assumes that the financial ratios (i.e., the predictors of collapse) are static over time. The paper argues that, in the absence of rational economic theory, a static model is flawed, and that a suitable model instead is one that reflects the heuristic behavioural framework, which is what characterises behavioural attributes of company directors and in turn influences the accounting numbers used in calculating the financial ratios. This calls for a dynamic model: dynamic in the sense that it does not rely on a coherent assortment of financial ratios for signaling corporate collapse over multiple time periods. This paper provides empirical evidence, using a data set of Australian publicly listed companies, to demonstrate that a dynamic model consistently outperforms its static counterpart in signaling the event of collapse. On average, the overall predictive power of the dynamic model is 86.83% compared to an average overall predictive power of 69.35% for the static model.

Image featuring for retrieval of multimedia documents

The utilization of massive multimedia documents collections, such as multimedia documents in the global Internet, needs search engines which can rank using both text and image evidence. Massive size and (dynamic) nature of collection can make manual indexing prohibitively expensive in such situations. Traditional search engines utilize only text components of multimedia documents. But there are information needs, which require the utilization of image evidence. In this paper, we investigate image-feature for large and heterogeneous collections. Both the nature and complexities of information needs are key elements for an effective retrieval. Retrieval needs that depend on perceptual similarities (as found in art galleries, building architecture) require the utilization of visual cues. In such situations, the retrieval of multimedia document based on image ranking can provide higher effectiveness. Experimental results show that effectiveness of ranking based on image feature can be higher where perceptual similarities are key elements for retrieval than the retrieval effectiveness of algorithms based on text ranking algorithms

A sequence based dynamic SOM model for text clustering

Text clustering can be considered as a four step process consisting of feature extraction, text representation, document clustering and cluster interpretation. Most text clustering models consider text as an unordered collection of words. However the semantics of text would be better captured if word sequences are taken into account.

In this paper we propose a sequence based text clustering model where four novel sequence based components are introduced in each of the four steps in the text clustering process.

Experiments conducted on the Reuters dataset and Sydney Morning Herald (SMH) news archives demonstrate the advantage of the proposed sequence based model, in terms of capturing context with semantics, accuracy and speed, compared to clustering of documents based on single words and n-gram based models.