NDLI: Test of the generalizability of Altman's bankruptcy predication model

Content Provider	IEEE Xplore Digital Library
Author	Hanzaee, A.H.
Copyright Year	2010
Description	Author affiliation: Department of Business Management, Faculty of Management and Social Sciences, Islamic Azad University - North Tehran Branch, Tehran, I.R. Iran (Hanzaee, A.H.)
Abstract	Although originally developed in 1968 using a small sample of firms from the 1950s and 1960s, Altman's Z-Score model remains a commonly used tool for evaluating the financial health of companies. Because of the age of the model and other its attributes, such as its small sample of manufacturing firms and the use of equal group sizes of bankrupt and non-bankrupt firms, it is likely that the model is not as effective in classifying firms in more recent studies as it was when developed by Altman. This study examines three research questions using recent sample data: (1) Is Altman's original model as useful for predicating bankruptcy in recent periods as it was for the periods in which it was developed and tested by Altman? (2) Is the model as useful for predicating financial stress conditions other than bankruptcy as it is for predicting bankruptcy? (3) Is it true/accurate that as time passes, the ability of the model to predict decreases correspondingly? Our results are consistent with positive answers to Questions 1 and 2 and a negative answer to Question 3.
Starting Page	215
Ending Page	250
File Size	192815
Page Count	36
File Format	PDF
ISBN	9781424477579
e-ISBN	9781424477593
DOI	10.1109/ICFTE.2010.5499392
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2010-06-18
Publisher Place	United Arab Emirates
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Generalizability Companies Predictive models Conference management Financial management Stress Manufacturing industries Engineering management Financial ratio Altman's Z-Score model Virtual manufacturing Bankruptcy Testing Business
Content Type	Text
Resource Type	Article

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
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3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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