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Tests of the generalizability of Altman's bankruptcy prediction model

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Cited by:

  1. Premachandra, I.M. & Bhabra, Gurmeet Singh & Sueyoshi, Toshiyuki, 2009. "DEA as a tool for bankruptcy assessment: A comparative study with logistic regression technique," European Journal of Operational Research, Elsevier, vol. 193(2), pages 412-424, March.
  2. Oz, Ibrahim Onur & Yelkenci, Tezer & Meral, Gorkem, 2021. "The role of earnings components and machine learning on the revelation of deteriorating firm performance," International Review of Financial Analysis, Elsevier, vol. 77(C).
  3. Mohammad Mahdi Mousavi & Jamal Ouenniche & Kaoru Tone, 2023. "A dynamic performance evaluation of distress prediction models," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 42(4), pages 756-784, July.
  4. du Jardin, Philippe & Séverin, Eric, 2012. "Forecasting financial failure using a Kohonen map: A comparative study to improve model stability over time," European Journal of Operational Research, Elsevier, vol. 221(2), pages 378-396.
  5. Marco Muscettola, 2016. "Medium Risk Companies: The Probability of Notching-Up," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 8(12), pages 63-76, December.
  6. Lin, Hsiou-Wei William & Lo, Huai-Chun & Wu, Ruei-Shian, 2016. "Modeling default prediction with earnings management," Pacific-Basin Finance Journal, Elsevier, vol. 40(PB), pages 306-322.
  7. Maurice Peat, 2007. "Factors Affecting the Probability of Bankruptcy: A Managerial Decision Based Approach," Abacus, Accounting Foundation, University of Sydney, vol. 43(3), pages 303-324, September.
  8. Maurice Peat, 2001. "Bankruptcy Probability: A Theoretical and Empirical Examination," PhD Thesis, Finance Discipline Group, UTS Business School, University of Technology, Sydney, number 20, July-Dece.
  9. Sueyoshi, Toshiyuki & Goto, Mika, 2009. "Methodological comparison between DEA (data envelopment analysis) and DEA-DA (discriminant analysis) from the perspective of bankruptcy assessment," European Journal of Operational Research, Elsevier, vol. 199(2), pages 561-575, December.
  10. Campa, Domenico, 2019. "Earnings management strategies during financial difficulties: A comparison between listed and unlisted French companies," Research in International Business and Finance, Elsevier, vol. 50(C), pages 457-471.
  11. Douglas, Ella & Lont, David & Scott, Tom, 2014. "Finance company failure in New Zealand during 2006–2009: Predictable failures?," Journal of Contemporary Accounting and Economics, Elsevier, vol. 10(3), pages 277-295.
  12. Oz, Ibrahim Onur & Simga-Mugan, Can, 2018. "Bankruptcy prediction models' generalizability: Evidence from emerging market economies," Advances in accounting, Elsevier, vol. 41(C), pages 114-125.
  13. Bhanu Pratap Singh & Alok Kumar Mishra, 2016. "Re-estimation and comparisons of alternative accounting based bankruptcy prediction models for Indian companies," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-28, December.
  14. Sullivan, Joe H. & Warkentin, Merrill & Wallace, Linda, 2021. "So many ways for assessing outliers: What really works and does it matter?," Journal of Business Research, Elsevier, vol. 132(C), pages 530-543.
  15. Abhimanyu Sahoo & Seshadev Sahoo, 2020. "What Drives Derivatives: An Indian Perspective," JRFM, MDPI, vol. 13(6), pages 1-19, June.
  16. Nancy D. Ursel, 2006. "Rights Offerings and Corporate Financial Condition," Financial Management, Financial Management Association International, vol. 35(1), pages 31-52, March.
  17. Sepulveda Velasquez, Jorge, 2021. "Bibliometric Review of Research in Financial Health," MPRA Paper 111353, University Library of Munich, Germany.
  18. Pindado, Julio & Rodrigues, Luis & de la Torre, Chabela, 2008. "Estimating financial distress likelihood," Journal of Business Research, Elsevier, vol. 61(9), pages 995-1003, September.
  19. Ines Gharbi & Mounira Hamed‐Sidhom & Khaled Hussainey & Janet Ganouati, 2021. "Religiosity and financial distress in U.S. firms," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 3902-3915, July.
  20. Miroslava Dolejšová, 2014. "Which Altman Model Do We Actually Use?," Acta Universitatis Bohemiae Meridionales, University of South Bohemia in Ceske Budejovice, vol. 17(2), pages 103-111.
  21. Campa, Domenico & Camacho-Miñano, María-del-Mar, 2015. "The impact of SME’s pre-bankruptcy financial distress on earnings management tools," International Review of Financial Analysis, Elsevier, vol. 42(C), pages 222-234.
  22. Chen, An-Sing & Chu, Hsiang-Hui & Hung, Pi-Hsia & Cheng, Miao-Sih, 2020. "Financial risk and acquirers' stockholder wealth in mergers and acquisitions," The North American Journal of Economics and Finance, Elsevier, vol. 54(C).
  23. George Giannopoulos & Sophia Ali Sardar & Rebecca Salti & Nicos Sykianakis, 2022. "Analyzing Insolvency Prediction Models in the Period Before and After the Financial Crisis: A Case Study on the Example of US Firms," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 12(3), pages 23-45.
  24. Manzaneque, Montserrat & Priego, Alba María & Merino, Elena, 2016. "Corporate governance effect on financial distress likelihood: Evidence from Spain," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 19(1), pages 111-121.
  25. Sebastian Klaudiusz Tomczak & Piotr Staszkiewicz, 2020. "Cross-Country Application of Manufacturing Failure Models," JRFM, MDPI, vol. 13(2), pages 1-10, February.
  26. M. Humayun Kabir & Fawzi Laswad, 2014. "The Behaviour of Earnings, Accruals and Impairment Losses of Failed New Zealand Finance Companies," Australian Accounting Review, CPA Australia, vol. 24(3), pages 262-275, September.
  27. Katarina Valaskova & Dominika Gajdosikova & Jaroslav Belas, 2023. "Bankruptcy prediction in the post-pandemic period: A case study of Visegrad Group countries," Oeconomia Copernicana, Institute of Economic Research, vol. 14(1), pages 253-293, March.
  28. Miguel García-Posada & Juan Mora-Sanguinetti, 2014. "Are there alternatives to bankruptcy? A study of small business distress in Spain," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 5(2), pages 287-332, August.
  29. Mauro Paoloni & Massimiliano Celli, 2018. "Crisi delle PMI e strumenti di warning. Un test di verifica nel settore manifatturiero," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2018(2), pages 85-106.
  30. Salwa Kessioui & Michalis Doumpos & Constantin Zopounidis, 2023. "A Bibliometric Overview of the State-of-the-Art in Bankruptcy Prediction Methods and Applications," World Scientific Book Chapters, in: Emilios Galariotis & Alexandros Garefalakis & Christos Lemonakis & Marios Menexiadis & Constantin Zo (ed.), Governance and Financial Performance Current Trends and Perspectives, chapter 6, pages 123-153, World Scientific Publishing Co. Pte. Ltd..
  31. Tania Hamid & Farzana Akter & Naharin Rab, 2016. "Prediction of Financial Distress of Non-Bank Financial Institutions of Bangladesh using Altman’s Z Score Model," International Journal of Business and Management, Canadian Center of Science and Education, vol. 11(12), pages 261-261, November.
  32. Sebahattin Demirkan & Harlan Platt, 2009. "Financial status, corporate governance quality, and the likelihood of managers using discretionary accruals," Accounting Research Journal, Emerald Group Publishing Limited, vol. 22(2), pages 93-117, September.
  33. Heim, Sven & Hüschelrath, Kai & Schmidt-Dengler, Philipp & Strazzeri, Maurizio, 2017. "The impact of state aid on the survival and financial viability of aided firms," European Economic Review, Elsevier, vol. 100(C), pages 193-214.
  34. Premachandra, I.M. & Chen, Yao & Watson, John, 2011. "DEA as a tool for predicting corporate failure and success: A case of bankruptcy assessment," Omega, Elsevier, vol. 39(6), pages 620-626, December.
  35. Amrizah Kamaluddin & Norhafizah Ishak & Nor Farizal Mohammed, 2019. "Financial Distress Prediction Through Cash Flow Ratios Analysis," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 10(3), pages 63-76, May.
  36. J. Efrim Boritz & Duane B. Kennedy & Jerry Y. Sun, 2007. "Predicting Business Failures in Canada," Accounting Perspectives, John Wiley & Sons, vol. 6(2), pages 141-165, May.
  37. Cho, Eunho & Okafor, Collins & Ujah, Nacasius & Zhang, Linmei, 2021. "Executives’ gender-diversity, education, and firm’s bankruptcy risk: Evidence from China," Journal of Behavioral and Experimental Finance, Elsevier, vol. 30(C).
  38. Iulian Viorel Brasoveanu & Florin Dobre & Laura Brad, 2014. "Increasing Financial Audit Quality Using A New Model To Estimate Financial Performance," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 88-107, October.
  39. Sueyoshi, Toshiyuki & Goto, Mika, 2009. "DEA-DA for bankruptcy-based performance assessment: Misclassification analysis of Japanese construction industry," European Journal of Operational Research, Elsevier, vol. 199(2), pages 576-594, December.
  40. Monika Bolek & Agata Gniadkowska-Szymańska, 2023. "Is the Growth of Companies Influencing Their Financial Condition Depending on Their Size: S&P 500 Listed Companies Example," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 30(2), pages 323-337, June.
  41. Kaya, Orcun, 2022. "Determinants and consequences of SME insolvency risk during the pandemic," Economic Modelling, Elsevier, vol. 115(C).
  42. Sueyoshi, Toshiyuki & Goto, Mika, 2009. "Can R&D expenditure avoid corporate bankruptcy? Comparison between Japanese machinery and electric equipment industries using DEA-discriminant analysis," European Journal of Operational Research, Elsevier, vol. 196(1), pages 289-311, July.
  43. Manzaneque, Montserrat & Merino, Elena & Priego, Alba María, 2016. "The role of institutional shareholders as owners and directors and the financial distress likelihood. Evidence from a concentrated ownership context," European Management Journal, Elsevier, vol. 34(4), pages 439-451.
  44. Gianpaolo Iazzolino & Rossella Gabriele, 2016. "Energy Efficiency and Sustainable Development: An Analysis of Financial Reliability in Energy Service Companies Industry," International Journal of Energy Economics and Policy, Econjournals, vol. 6(2), pages 222-233.
  45. Sebastian Klaudiusz Tomczak & Edward Radosiński, 2017. "The effectiveness of discriminant models based on the example of the manufacturing sector," Operations Research and Decisions, Wroclaw University of Science and Technology, Faculty of Management, vol. 27(3), pages 81-97.
  46. Sebastian Klaudiusz Tomczak, 2020. "Multi-class Models for Assessing the Financial Condition of Manufacturing Enterprises," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 14(2), June.
  47. fernández, María t. Tascón & gutiérrez, Francisco J. Castaño, 2012. "Variables y Modelos Para La Identificación y Predicción Del Fracaso Empresarial: Revisión de La Investigación Empírica Reciente," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 15(1), pages 7-58.
  48. Almaskati, Nawaf & Bird, Ron & Yeung, Danny & Lu, Yue, 2021. "A horse race of models and estimation methods for predicting bankruptcy," Advances in accounting, Elsevier, vol. 52(C).
  49. Loredana Cultrera & Bauweraerts Jonathan, 2017. "Exploring Corporate Bankruptcy in Belgian Private Firms," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(3), pages 108-114, March.
  50. Leila Bateni & Farshid Asghari, 2020. "Bankruptcy Prediction Using Logit and Genetic Algorithm Models: A Comparative Analysis," Computational Economics, Springer;Society for Computational Economics, vol. 55(1), pages 335-348, January.
  51. André Luiz de Souza Guimarães & Valcemiro Nossa, 2010. "Working capital, profitability, liquidity and solvency of healthcare insurance companies," Brazilian Business Review, Fucape Business School, vol. 7(2), pages 37-59, May.
  52. Adriana Csikosova & Maria Janoskova & Katarina Culkova, 2019. "Limitation of Financial Health Prediction in Companies from Post-Communist Countries," JRFM, MDPI, vol. 12(1), pages 1-14, January.
  53. Askoldas Podviezko & Ralph Kurschus & Giedre Lapinskiene, 2019. "Eliciting Weights of Significance of Criteria for a Monitoring Model of Performance of SMEs for Successful Insolvency Administrator’s Intervention," Sustainability, MDPI, vol. 11(20), pages 1-16, October.
  54. Antonio Angelo Romano & Giuseppe Scandurra & Alfonso Carfora, 2016. "Estimating the Impact of Feed-in Tariff Adoption: Similarities and Divergences among Countries through a Propensity-score Matching Method," International Journal of Energy Economics and Policy, Econjournals, vol. 6(2), pages 144-151.
  55. Adita Nafisa & Helmi Muhammad & Niki Puspita Sari, 2022. "Corporate bankruptcy: Evidence from the plastics and packaging industry in Indonesia," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(6), pages 165-174, September.
  56. Ciampi, Francesco, 2015. "Corporate governance characteristics and default prediction modeling for small enterprises. An empirical analysis of Italian firms," Journal of Business Research, Elsevier, vol. 68(5), pages 1012-1025.
  57. Francesco Ciampi & Valentina Cillo & Fabio Fiano, 2020. "Combining Kohonen maps and prior payment behavior for small enterprise default prediction," Small Business Economics, Springer, vol. 54(4), pages 1007-1039, April.
  58. Nawaf Almaskati & Ron Bird & Yue Lu & Danny Leung, 2019. "The Role of Corporate Governance and Estimation Methods in Predicting Bankruptcy," Working Papers in Economics 19/16, University of Waikato.
  59. Emil Exenberger & Michaela Kav?áková, 2020. "Evaluation of financial health of companies through data envelopment analysis: Selection of variables for the DEA model in R," Proceedings of Economics and Finance Conferences 10913067, International Institute of Social and Economic Sciences.
  60. Sumaira Ashraf & Elisabete G. S. Félix & Zélia Serrasqueiro, 2019. "Do Traditional Financial Distress Prediction Models Predict the Early Warning Signs of Financial Distress?," JRFM, MDPI, vol. 12(2), pages 1-17, April.
  61. Alessandro Bitetto & Stefano Filomeni & Michele Modina, 2021. "Understanding corporate default using Random Forest: The role of accounting and market information," DEM Working Papers Series 205, University of Pavia, Department of Economics and Management.
  62. Tascón, María T. & Castaño, Francisco J., 2017. "Selection of Variables in Small Business Failure Analysis: Mean Selection vs. Median Selection || Selección de variables en el análisis de fracaso de empresas pequeñas: selección de medias frente a se," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 24(1), pages 54-88, Diciembre.
  63. Abbas, Qaiser & Rashid, Abdul, 2011. "Modeling Bankruptcy Prediction for Non-Financial Firms: The Case of Pakistan," MPRA Paper 28161, University Library of Munich, Germany.
  64. Ashraf, Sumaira & Félix, Elisabete G.S. & Serrasqueiro, Zélia, 2020. "Development and testing of an augmented distress prediction model: A comparative study on a developed and an emerging market," Journal of Multinational Financial Management, Elsevier, vol. 57.
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