This study investigates the ability of three versions of Altman's Z-Score model (Z, Z', and Z”) of distress prediction developed in the U.S. to predict the corporate distress in the emerging market of Sri Lanka. The results show that these models have a remarkable degree of accuracy in...

This paper examines long-horizon predictability of stock prices in Sri Lanka using 1-4 year real returns on indices for market and industry portfolio during the 1985-97 period. In a model of prices, which contains a random walk component and a slowly decaying transitory price component, which...

This study investigates the ability of market beta, book-to-market equity, leverage, and earnings-price ratio to explain the cross-sectional variation in expected returns in the stock market of Sri Lanka. The sample of the study consists of a total of 88 companies which are listed on the Colombo...