provided in this paper means that the Z-Score models seem to have a very good potential in evaluating the risk of corporate …

This study is motivated by the continuing popularity of the Altman Z-score as a measure of distress risk. Altman first … attack, the US stock market dropped dramatically. We find evidence that firms which had higher bankruptcy risk experienced … identifying firms with a higher risk of financial failure and consequent larger negative stock returns in the event of an …

We estimate and test several default risk models using new and unique data on corporate defaults in the German stock …, suggests that the Campbell et al. (2008) failure score should be used as a benchmark default risk model in research and also in …

emerging-market leverage, there is little systematic research on factors that impact corporate distress risk in emerging … markets. Existing bankruptcy risk models developed using US data have low predictive power when applied to emerging market … economy monetary policy changes, US dollar movements, or shifts in global liquidity and risk-aversion. A novel multi …