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 study is motivated by the continuing popularity of the Altman Z-score as a measure of distress risk. Altman first introduced the ‘Z' score in 1968 and 50 years later it is still going strong as a means to predicting bankruptcy. During these 50 years, academicians have studied the...

We estimate and test several default risk models using new and unique data on corporate defaults in the German stock market. While defaults were extremely rare events in the 1990s, they have been a characteristic feature of the German stock market since the early 2000s. We apply the structural...

Despite widespread agreement that corporate social responsibility (CSR) should not be motivated only by a desire to increase corporate financial performance (CFP), marketers are aware of the possible links between CSR and CFP. Surprisingly, after decades of empirical investigation, the evidence...

In this study we investigate how bankruptcy affects the market behaviour of prices of stocks on Warsaw’s Stock Exchange. As the behaviour of prices can be seen in a myriad of ways, we investigate a particular aspect of this behaviour, namely the predictability of these price formation...

Financial distress and bankruptcy of companies may cause the resources to be wasted and the investment opportunities to be faded. Bankruptcy prediction by providing necessary warnings can make the companies aware of this problem. The aim of this study is to compare the ability of Bayesian...

Financial distress and bankruptcy of companies may cause the resources to be wasted and the investment opportunities to be faded. Bankruptcy prediction by providing necessary warnings can make the companies aware of this problem. The aim of this study is to compare the ability of Bayesian...

A financial distress of company should be able anticipated smartly by its management to rerun the business without having any loss due to business failure. Thus, we need a model which could provide an early signal to company the probability of financial distress so that remedial efforts can be...