The high social costs associated with bankruptcy have spurred searches for better theoretical understanding and prediction capability. In this paper, we investigate a hybrid approach to bankruptcy prediction, using a genetic programming algorithm to construct a bankruptcy prediction model with variables from a rough sets model derived in prior research. Both studies used data from 291 US public...

In a risk-neutral stochastic environment where bankruptcy is possible, it is well-established that coinsurance incentives may lead creditors to prefer mergers over spin-offs, while shareholders may prefer spin-offs. This paper shows that there are two distinct reasons for this. One is due to the concavity of the debt payoff function in the face value of the debt, while the other arises from imp...

One of the main concerns of the mining industry is to determine ultimate pit limits. Final pit is a collection of blocks, which can be removed with maximum profit while following restrictions on the slope of the mine’s walls. The size, location and final shape of an open-pit are very important in designing the location of waste dumps, stockpiles, processing plants, access roads and other surfac...