What is TG Venture Acquisition Probability of Financial Distress (%)?
Probability of Financial Distress (%) measures the probability that a company will go bankrupt in the upcoming year given its current financial position. A higher ratio indicates a larger probability of bankruptcy for the company, while a lower ratio indicates a healthier fundamental. As of today, TG Venture Acquisition's Probability of Financial Distress (%) is 50.00%.
Like the Altman Z-Score, the PFD measures a company's bankruptcy risk. However, the main drawback of the Z-score is it does not apply to banks and insurance companies. According to Investopedia, the concept of "working capital" does not apply to banks and insurance companies, as financial institutions do not have typical current assets or current liabilities like inventories or accounts payable.
Competitive Comparison of TG Venture Acquisition's Probability of Financial Distress (%)
For the Shell Companies subindustry, TG Venture Acquisition's Probability of Financial Distress (%), along with its competitors' market caps and Probability of Financial Distress (%) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
TG Venture Acquisition's Probability of Financial Distress (%) Distribution in the Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, TG Venture Acquisition's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where TG Venture Acquisition's Probability of Financial Distress (%) falls into.
TG Venture Acquisition Probability of Financial Distress (%) Calculation
Probability of Financial Distress (%) (PFD) was developed by John Campbell, Jens Hilscher and Jan Szilagyi in their Search of Distress Risk. It measures the probability that a company will go bankrupt within the next 12 months given its current financial position.
The Probability of Financial Distress (%) was obtained by a logit probability model based on eight explanatory variables. The logit formula to compute the probability of financial distress (LPFD) is given below:
| LPFD | = | -20.12 * NIMTAAVG | + | 1.60 * TLMTA | - | 7.88 * EXRETAVG | + | 1.55 * SIGMA | - | 0.005 * RSIZE | - | 2.27 * CASHMTA | + | 0.070 * MB | - | 0.09 * PRICE | - | 8.87 |
| = | 0.00 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 50.00% |
The eight explanatory variables are:
1. NIMTAAVG = Net Income to Market Total Assets
*Note that for companies reported quarterly, geometrically declining weighted quarterly Net Income data in latest four quarters are used.
2. TLMTA = Total liabilities to Market Total Assets
3. CASHMTA = Cash to Market Total Assets
For non-financial companies, CASHMTA is measured as:
4. EXRETAVG = Excess Return compared to the S&P 500
EXRETAVG is the weighted excess return compared to the S&P 500 in past 12 month. Geometrically declining weights are imposed on the monthly excess return to reflect lagged information. The weight is halved each quarter.
5. SIGMA = Standard Deviation of Daily Returns
For sigma, we use the annualized standard deviation of a company's returns over the past 92 days (or 63 trading days).
6. RSIZE = Relative Size
| RSIZE | = | log (Market Cap | / | Total Market Cap of S&P 500 companies) |
7. MB = Market to Adjusted Book Equity Ratio
8. PRICE
PRICE is measured as the log of the stock price, capped at log(15).
TG Venture Acquisition (TG Venture Acquisition) Business Description
Traded in Other Exchanges
N/A
Address
1390 Market Street, Suite 200, San Francisco, CA, USA, 94102
TG Venture Acquisition Corp is a newly organized, blank check company.
Executives
| Wolverine Asset Management Llc |
10 percent owner |
175 WEST JACKSON, SUITE 340, CHICAGO IL 60604 |
| High Income Securities Fund |
10 percent owner |
US BANCORP FUND SERVICES LLC, 615 EAST MICHIGAN STREET, MILWAUKEE WI 53202 |
| Special Opportunities Fund, Inc. |
10 percent owner |
C/O US BANCORP FUND SERVICES, LLC, 615 EAST MICHIGAN AVENUE, MILWAUKEE WI 53202 |
| Phillip Goldstein |
10 percent owner |
60 HERITAGE DRIVE, PLEASANTVILLE NY 10570 |
| Andrew Dakos |
10 percent owner |
250 PEHLE AVE., SUITE 708, SADDLE BROOK NJ 07663 |
| Investors, Llp Bulldog |
10 percent owner |
PARK 80 WEST - PLAZA TWO, 250 PEHLE AVE. SUITE 708, SADDLE BROOK NJ 07663 |
| Patrick Tsang |
director, 10 percent owner, officer: Chairman and CEO |
WICKHAMS CARY II, PO BOX 3170, ROAD TOWN, TORTOLA D8 00000 |
| Philip Benedict Rettger |
director, officer: CFO |
PO BOX 605, KETTLE FALLS, WASHINGTON WA 99141 |
| Ma Jason Cheng Yuen |
director |
2121 AVENUE OF THE STARS,, SUITE 2320, LOS ANGELES CA 90067 |
| Komal Ahmad |
director |
300 BERRY STREET, #1313, SAN FRANCISCO CA 94158 |
| Michael Lewis Alexander |
director |
SUITE 1975, LEVEL 19, TWO IFC,, 8 FINANCE STREET, HONG KONG F4 00000 |
| Tsangs Group Holdings Ltd |
10 percent owner |
ROOM 6801, 68TH FLOOR,, 99 QUEENS ROAD CENTRAL, CENTRAL,, HONG KONG F4 999077 |
TG Venture Acquisition (TG Venture Acquisition) Headlines
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TGVC has been successfully added to your