The Altman Z-score Revisited
Posted: 4 Feb 2005
Date Written: January 6, 2004
Abstract
This study replicates the research that created the Altman z-score measure of bankruptcy. To eliminate criticisms of the original study, this study uses a large sample, data from recent years, additional statistical methods, and eliminates the matched pair design of the original study, to rescale the z-score. This rescaling of the z-score greatly improves the predictive power of the measure and predicting bankruptcy for more than two years prior to bankruptcy filing.
Keywords: Bankrutpcy, Financial Distress, Altman Z
JEL Classification: G33
Suggested Citation: Suggested Citation
Russ, Robert W. and Peffley, Wendy W. and Greenfield, Alfred C., The Altman Z-score Revisited (January 6, 2004). Available at SSRN: https://ssrn.com/abstract=551061 or http://dx.doi.org/10.2139/ssrn.551061
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