In this paper, we investigate whether the theoretical default probability measures calculated from Merton’s (1974) structural credit risk model can provide a better way to explain and predict credit rating than traditional statistical models. The empirical results suggest that Merton’s theoretical default measure is not a sufficient statistic of equity market information concerning credit quali...

Software intensive organisations require the integration of agility, people, process, product and tool elements for establishing a hybrid adaptive software development capability. This paper presents the results of the empirical study that has been conducted to identify the important underlying characteristics of the hybrid adaptive software development capability elements. Based on this invest...

Hybrid New Keynesian Phillips curve (NKPC) has been widely used in monetary policy literature (e.g. Gali and Gertler, 1999) as it contains both forward-looking and backward-looking components and therefore fits the data well. A typical backward-looking part of price setting behavior assumes that firms use the previous period’s price. In this paper, we propose a generalized version of the hybrid...

In this paper, the development of a hybrid intelligent system for developing marketing strategy is described. The hybrid system has been developed to: provide a logical process for strategic analysis; support group assessment of strategic marketing factors; help the coupling of strategic analysis with managerial intuition and judgement; help managers deal with uncertainty and fuzziness; and pro...

background : in medical studies, when the joint prediction about occurrence of two events should be anticipated, a statistical bivariate model is used. due to the limitations of usual statistical models, other methods such as artificial neural network (ann) and hybrid models could be used. in this paper, we propose a hybrid artificial neural network-genetic algorithm (ann-ga) model to predictio...

awareness of the level of river flow and its fluctuations at different times is one of the significant factor to achieve sustainable development for water resource issues. therefore, the present study two hybrid models, wavelet- adaptive neural fuzzy interference system (wanfis) and wavelet- artificial neural network (wann) are used for flow prediction of gamasyab river (nahavand, hamedan, iran...

In this paper we report on an empirical study on requirements engineering of hybrid products. Hybrid products (often also referred to as product service systems) – a combination of product, software and service elements – are an emerging trend on the market. Companies intend to offer holistic solutions for customer problems and not single products. The development of hybrid products differs fro...

In this paper we show how moving from the neoclassical model to the more recent endogenous growth paradigm can lead to markedly different interpretations of the same growth accounting data. In neoclassical theory, even if between 30 and 70 per cent of the growth of output per worker in OECD countries can be ‘accounted for’ by capital accumulation, yet in the long run all of the growth in output...