Determinants of Personal Financial Distress in New Zealand

Massey University Department of Commerce Working Paper No. 04.33

21 Pages Posted: 13 May 2005

See all articles by Lawrence C. Rose

Lawrence C. Rose

Massey University

Larissa Allen

Massey University - Department of Commerce

Date Written: December 2004

Abstract

This research centers on the financial survival experience of participants in a New Zealand court-administered debt repayment plan. Using Kaplan-Meyer estimators of survival and hazard functions, we summarize and plot survival data. Group experience is compared by means of log-rank tests. The proportional hazard models, fitted over a partitioned time axis, demonstrate that a number of factors are predictive of defaulted debtors' financial survival. The results demonstrate the potential for a wider use of survival models in the analysis of personal loan data.

Keywords: Consumer debt, personal bankruptcy, court-administered repayment plan, survival analysis, Cox proportional hazards regression, New Zealand

Suggested Citation

Rose, Lawrence (Larry) Craig and Allen, Larissa, Determinants of Personal Financial Distress in New Zealand (December 2004). Massey University Department of Commerce Working Paper No. 04.33, Available at SSRN: https://ssrn.com/abstract=722801 or http://dx.doi.org/10.2139/ssrn.722801

Lawrence (Larry) Craig Rose (Contact Author)

Massey University ( email )

Private Bag 102-904
North Shore Mail Centre
Auckland, 0745
New Zealand
+64 9 4140800, ex 9558 (Phone)
+64 9 441 8150 (Fax)

Larissa Allen

Massey University - Department of Commerce ( email )

Private Bag 102-904
North Shore Mail Centre
Auckland
New Zealand

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