Applying chaid to identify the accounting-financial characteristics of the most profitable real estate companies in Spain
| dc.contributor.author | Rayo, Salvador | |
| dc.contributor.author | Cortes, Antonio M. | |
| dc.date.accessioned | 2021-11-09T02:13:15Z | |
| dc.date.available | 2021-11-09T02:13:15Z | |
| dc.date.issued | 2010-12-30 | |
| dc.description.abstract | The aim of this study is the determination, from an empirical perspective, of the accounting and financial features which could condition financial profitability of real estate companies, to identify the performances that guarantee its permanency in the current marketplace, characterized by the world economic crisis, specially in Spain, whose housing sector represents an important contributor to the economic growth. Although at a theoretical level the DuPont Model establishes the relationships between a group of accounting ratios and financial profitability. This paper uses a sample of 5,484 Spanish real estate com-panies to quantify these relationships and to extract the most relevant ones and to obtain the patterns of the most profitable companies. We use ROE to measure profitability and we analyze various independent variables about solvency, liquidity, activity, turnover, financial equilibrium and investment structure. The main contribution is of methodological nature, as we have applied statistics tools that do not require initial hypotheses on the distribution of the variables, by using a data mining technique of classification and regression tree based on rule induction algorithms known as CHAID. The study provides quantitatively success profiles by means of a set of rules describing the patterns of the most profitable companies. | en_EN |
| dc.description.abstract | El objetivo de este estudio es la determinación, desde una perspectiva empírica, de las características económico-financieras que podrían condicionar la rentabilidad financiera de las empresas inmobiliarias, para identificar las actuaciones que garan-ticen su permanencia en el entorno actual, caracterizado por la crisis económica mundial, y especialmente, en España, cuyo sector inmobiliario supone una importante contribución al crecimiento económico. Aunque a nivel teórico, el Modelo Du-Pont establece las relaciones entre un conjunto de ratios contables y la rentabilidad financiera. Este trabajo usa una muestra de 5,484 empresas inmobiliarias españolas para cuantificar esas relaciones y para extraer las más relevantes, con el propósito de obtener los patrones de las empresas más rentables. Se utiliza el ROE para medir la rentabilidad financiera, y se analizan un conjunto de variables independientes relativas a solvencia, liquidez, actividad, rotaciones, equilibrio financiero y estructura económica. La principal contribución es de índole metodológica, ya que se aplican herramientas estadísticas que no requieren hipótesis iniciales sobre la distribución de las variables, aplicando una técnica de minería de datos de árboles de clasificación y regresión basada en algoritmos de inducción de reglas conocida como CHAID. El estudio ofrece cuantitativamente perfiles de éxito definidos con un conjunto de reglas que indican los patrones de las empresas más rentables. | es_ES |
| dc.identifier | https://revistas.esan.edu.pe/index.php/jefas/article/view/269 | |
| dc.identifier.citation | Rayo, S., & Cortes , A. M. (2010). Applying chaid to identify the accounting-financial characteristics of the most profitable real estate companies in Spain. Journal of Economics, Finance and Administrative Science, 15(29), 51-71. https://doi.org/10.46631/jefas.2010.v15n29.04 | |
| dc.identifier.doi | https://doi.org/10.46631/jefas.2010.v15n29.04 | |
| dc.identifier.uri | https://hdl.handle.net/20.500.12640/2660 | |
| dc.language.iso | eng | |
| dc.publisher | Universidad ESAN. ESAN Ediciones | |
| dc.publisher.country | PE | |
| dc.relation.ispartof | urn:issn:2218-0648 | |
| dc.relation.uri | https://revistas.esan.edu.pe/index.php/jefas/article/view/269/157 | |
| dc.rights | Attribution 4.0 International | * |
| dc.rights | info:eu-repo/semantics/openAccess | es_ES |
| dc.rights.uri | https://creativecommons.org/licenses/by/4.0 | |
| dc.subject | CHAID | en_EN |
| dc.subject | Financial profitability | en_EN |
| dc.subject | Classification trees | en_EN |
| dc.subject | Accounting ratios | en_EN |
| dc.subject | Spain | en_EN |
| dc.subject | CHAID | es_ES |
| dc.subject | Rentabilidad financiera | es_ES |
| dc.subject | Árboles de clasificación | es_ES |
| dc.subject | Ratios contables | es_ES |
| dc.subject | España | es_ES |
| dc.subject.ocde | https://purl.org/pe-repo/ocde/ford#5.02.04 | |
| dc.title | Applying chaid to identify the accounting-financial characteristics of the most profitable real estate companies in Spain | en_EN |
| dc.type | info:eu-repo/semantics/article | |
| dc.type.other | Artículo | |
| dc.type.version | info:eu-repo/semantics/publishedVersion | |
| oaire.citation.endPage | 71 | |
| oaire.citation.issue | 29 | |
| oaire.citation.startPage | 51 | |
| oaire.citation.title | Journal of Economics, Finance and Administrative Science | |
| oaire.citation.volume | 15 |
