Abstract
Corporate financial distress risk assessment has been a part of economic and financial literature for a long time. Many researchers and practitioners have widely investigated this issue during the recent decades and have developed new methods to predict financial distress and bankruptcy.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Agarwal, V., & Taffler, R. (2006). Comparing the performance of market-based and accounting-based bankruptcy prediction models. Journal of Banking and Finance, 32, 1–37.
Altman, E. I. (1968). Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. Journal of Finance, 23, 589–609.
Altman, E. I. (1984). The success of business failure prediction models: An international survey. Journal of Banking and Finance, 8, 171–198.
Altman, E. I. (1993). Corporate financial distress and bankruptcy: A complete guide to predicting and avoiding distress and profiting from bankruptcy. New York: Wiley & Sons.
Altman, E. I. (2005). An emerging market credit scoring system for corporate bonds. Emerging Market Review, 6, 311–323.
Altman, E. I., & Hotchkiss, E. (2006). Corporate financial distress & bankruptcy (3rd ed.). Hoboken: Wiley & Sons.
Altman, E. I., Haldeman, R. G., & Narayanan, P. (1977). Zeta analysis. Journal of Banking and Finance, 1, 29–54.
Altman, E. I., Hartzell, J., & Peck, M. (1995). Emerging markets corporate bonds: A scoring system. New York: Salomon Brothers Inc.
Altman, E. I., Danovi, R., & Fallini, A. (2013). Z-score models’ application to Italian companies subject to extraordinary administration. Bancaria, 4, 24–37.
Beaver, W. H. (1966). Financial ratios as predictors of failure. Journal of Accounting Research, 4, 71–111.
Beaver, W. H., McNichols, M. F., & Rhie, J. (2005). Have financial statements become less informative? Evidence from the ability of financial ratios to predict bankruptcy. Review of Accounting Studies, 10, 93–122.
Bharath, S. T., & Shumway, T. (2004). Forecasting default with the KMV-Merton model. AFA 2006 Boston Meetings Paper.
Charitou, A., Neophytou, E., & Charalambous, C. (2004). Predicting corporate failure: Empirical evidence for the UK. European Accounting Review, 13, 465–497.
Coats, P. K., & Fant, L. F. (1993). Recognizing financial distress patterns using a neural network tool. Financial Management, 22, 142–155.
Deakin, E. D. (1972). A discriminant analysis of predictors of business failure. Journal of Accounting Research, 10, 167–179.
Edmister, R. (1972). An empirical test of financial ratio analysis for small business failure prediction. Journal of Financial and Quantitative Analysis, 7, 1477–1493.
Eftekhar, B., Mohammad, K., Ardebili, H. E., Ghodsi, M., & Ketabchi, E. (2005). Comparison of artificial neural network and logistic regression models for prediction of mortality in head trauma based on initial clinical data. BMC Medical Informatics and Decision Making, 5, 1–8.
Etheridge, H. L., & Sriram, R. S. (1997). A comparison of the relative costs of financial distress models: Artificial neural networks, logit and multivariate discriminant analysis. Intelligent Systems in Accounting, Finance and Management, 6, 235–248.
Grice, J. S., & Dugan, M. T. (2003). Re-estimations of the Zmijewski and Ohlson bankruptcy prediction models. Advances in Accounting, 20, 77–93.
Hensher, D. A., Jones, S., & Greene, W. H. (2007). An error component logit analysis of corporate bankruptcy and insolvency risk in Australia. Abacus, 43, 241–264.
Hillegeist, S., Keating, E., Cram, D., & Lunstedt, K. G. (2004). Assessing the probability of bankruptcy. Review of Accounting Studies, 9, 5–34.
Holmen, J. S. (1988). Using financial ratios to predict bankruptcy: An evaluation of classic models using recent evidence. Akron Business and Economic Review, 19, 52–63.
Keasey, K., & Watson, R. (1991). Financial distress prediction models: A review of their usefulness. British Journal of Management, 2, 89–201.
McKee, T. E. (2003). Rough sets bankruptcy prediction models versus auditor signaling rates. Journal of Forecasting, 22, 569–586.
Moyer, R. C. (1977). Forecasting financial failure: A re-examination. Financial Management, 6, 11–17.
Ohlson, J. A. (1980). Financial ratios and the probabilistic prediction of bankruptcy. Journal of Accounting Research, 18, 109–131.
Platt, H. D., & Platt, M. B. (2002). Predicting corporate financial distress: Reflections on choice-based sample bias. Journal of Economics and Finance, 26, 184–199.
Zmijewski, M. E. (1984). Methodological issues related to the estimation of financial distress prediction models. Journal of Accounting Research, 22, 59–82.
Zurada, J. M., Foster, B. P., Ward, T. J., & Barker, R. M. (1998). Neural networks versus logit regression models for predicting financial distress response variables. Journal of Applied Business Research, 15, 21–29.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2017 The Author(s)
About this chapter
Cite this chapter
Pozzoli, M., Paolone, F. (2017). The Models of Financial Distress. In: Corporate Financial Distress. SpringerBriefs in Finance. Springer, Cham. https://doi.org/10.1007/978-3-319-67355-4_3
Download citation
DOI: https://doi.org/10.1007/978-3-319-67355-4_3
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-67354-7
Online ISBN: 978-3-319-67355-4
eBook Packages: Economics and FinanceEconomics and Finance (R0)