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Corporate Failure Prediction: Some Empirical Evidence from Listed Firms in Ghana

China-USA Business Review, Vol. 10, No. 1, January 2011

Posted: 22 Apr 2011  

Kingsley Opoku Appiah

Kwame Nkrumah University of Science and Technology

Date Written: January 31, 2011

Abstract

This paper examines the phenomenon of bankruptcy prediction from a developing economy perspective using the Altman Z-score model. Drawing on empirical data from a sample of 15 non-failed and failed companies listed in Ghana Stock Exchange, we test our empirical model via a cross section of different firms with dataset within 2004 to 2005. Altman’s Z-score is applicable in certain respects in predicting bankruptcy depending on the nature and size of the company in question. Since the literature on corporate failure in African contexts is rather parsimonious, this study makes an important contribution to the global discourse on corporate failure prediction in an increasingly globalised world.

Keywords: corporate failure, prediction, Z-score, Altman, Ghana

Suggested Citation

Appiah, Kingsley Opoku, Corporate Failure Prediction: Some Empirical Evidence from Listed Firms in Ghana (January 31, 2011). China-USA Business Review, Vol. 10, No. 1, January 2011 . Available at SSRN: https://ssrn.com/abstract=1815062

Kingsley Opoku Appiah (Contact Author)

Kwame Nkrumah University of Science and Technology ( email )

Faculty of Law
Faculty of Law
Kumasi, Ashanti Region +233
Ghana

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