Influence of financial media reports on financial distress forecasts of listed companies in Vietnam

Abstract

This paper investigates the impact of financial news from the media on the forecast of financial distress in listed companies in Vietnam. We have built the DIDC variable to show the “distress intensity of default-corpus” (DIDC) by using specific keywords and combining financial factors, corporate governance, macroeconomics and financial media reports to build a default rating model. The results indicate that the DIDC variables have a positive effect on financial distress, in which the pure DIDC is the strongest variable and has the leading effect on the media factors group. The accuracy of the default rating model has increased when taking into account DIDC variables. This proves that media reports are not only capable of explaining financial exhaustion but also help the model become more optimal.

Keywords

• cường độ phản ánh kiệt quệ của văn bản (distres intensity of default-corpus-didc)
• kiệt quệ tài chính
• tin tức từ truyền thông