Markov chain model used for sensitivity analysis of paid/unpaid claims in after-payment-due process

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F49777513%3A23510%2F14%3A43923652" target="_blank" >RIV/49777513:23510/14:43923652 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Markov chain model used for sensitivity analysis of paid/unpaid claims in after-payment-due process
Original language description
The paper uses existing Markov chain theory to analyze problem of claim payment delayed process, which serves to estimate a distribution of paid/unpaid claims after payment due. Payment condition patterns and timing of claim payments play significant role in financial management. First, the corresponding data reported in usual accounting reports are extracted to yield records of delayed payment structures. Data processing procedure issues estimations of transitions probabilities of absorption Markov chain with several transition states and two absorption ones representing paid and unpaid claims, respectively. The transition probability matrix of such absorption MC, which has a special pattern in its canonical form, enables symbolic processing of the fundamental matrix. General form of this matrix is presented in detail. Further, it is used for several numerical case studies, which are focused on sensitivity analysis of distribution of paid/unpaid claims on after payment due processes.
Czech name
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Czech description
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Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
32nd International Conference Mathematical Methods in Economics Conference Proceedings
ISBN
978-80-244-4208-2
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
299-304
Publisher name
Palacký University, Olomouc
Place of publication
Palacký University, Olomouc
Event location
Olomouc
Event date
Sep 10, 2014
Type of event by nationality
CST - Celostátní akce
UT code for WoS article
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