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Altman’s Z-Score Models of Predicting Corporate Distress : Evidence from the Emerging Sri Lankan Stock Market

Samarakoon, Lalith P. - 2010

the year prior to distress. The overall success rate of 81% is observed using the Z”-Score. The out-of-sample evidence …

Persistent link: https://www.econbiz.de/10013152873

Bankruptcy Risk Among Indonesian Stock Exchange Listed Companies

Setiawan, Anton - 2020

Objective - This research analyses whether there was a change in bankruptcy risk of companies in Indonesia for the period between 2015–2018, during the first presidency period of Joko Widodo, when Indonesia experienced tremendous dynamic economic, political and technological change. Previous...

Persistent link: https://www.econbiz.de/10012842095

The Altman ‘Z’ is ‘50’ and Still Young : Bankruptcy Prediction and Stock Market Reaction Due to Sudden Exogenous Shock

Poudel, Rajeeb - 2019

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...

Persistent link: https://www.econbiz.de/10012893618

Stock liquidity and default risk around the world

Nadarajah, Sivathaasan - 2020

We document the negative effect of stock liquidity on default risk for a sample of 46 countries. We further find that … shock that increases liquidity. The effect of liquidity on default risk is more pronounced in countries with poorer investor … impact of stock liquidity on default risk in international markets …

Persistent link: https://www.econbiz.de/10012854783

Positive Equity Prices with Insolvency under Legal Solvency Tests

Heaton, J.B. - 2020

It is well understood that the equity of an insolvent firm can trade for a positive price so long as there is some positive probability that the firm will become solvent at some future point. Currently, however, this insight exists in the case law in an informal sense, while its use in the...

Persistent link: https://www.econbiz.de/10012854945

Forecasting Corporate Defaults in the German Stock Market

Mertens, Richard - 2016

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...

Persistent link: https://www.econbiz.de/10012983935

Financial Distress Risk and Stock Price Crashes

Andreou, Christoforos - 2020

This study uses 469,816 monthly observations of US public firms for the period 1990-2018 to document a strong positive relationship between short-term changes in financial distress risk and future stock price crashes. This result is economically significant as a one interquartile increase of the...

Persistent link: https://www.econbiz.de/10012847850

Financial Distress Prediction on Public Listed Banks in Indonesian Stock Exchange

Pasaribu, Rowland Bismark - 2017

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...

Persistent link: https://www.econbiz.de/10012942862

Does Bankruptcy Protection Affect Asset Prices? Evidence from changes in Homestead Exemptions

Yildirim, Yildiray; Zevelev, Albert A. - 2021

Does the ability to protect an asset from unsecured creditors affect its price? This paper identifies the impact of bankruptcy protection on house prices using 139 changes in homestead exemptions. Large increases in the homestead exemption raised house prices 3% before 2005. Smaller exemption...

Persistent link: https://www.econbiz.de/10013243296

Bank Loan Announcement Effects — Evidence from a Comprehensive 8-K Sample

Chen, Shuyue - 2020

Using a comprehensive sample of over 10,000 bank loan announcements, we find results that differ from the findings of Maskara and Mullineaux (JFE 2011) and also that of Fields et al (JMCB 2006), which indicated that announcement effect of bank loans on borrower stocks disappeared as of late. We...

Persistent link: https://www.econbiz.de/10012846962

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