Previous studies indicated that linear multiple discriminant analysis (LMDA) of financial ratios can be used to predict company failure. A discriminant function is derived from a set of financial ratios which, when transformed into Z-scores, characterize firms as failing or nonfailing based on a...

The efficacy of the “rational” corporatist regulatory framework of Philippine financial reporting and, in particular, accounting has generally been questioned. We will show that the regulation of accounting in the Philippines is not corporatist at all in its implementation. A...