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A study of Altman's revised four-var...

Hanson, Richard O.

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A study of Altman's revised four-variable Z″-score bankruptcy prediction model as it applies to the service industry (Edward I. Altman).

Record Type:	Electronic resources : Monograph/item
Title/Author:	A study of Altman's revised four-variable Z″-score bankruptcy prediction model as it applies to the service industry (Edward I. Altman)./
Author:	Hanson, Richard O.
Description:	204 p.
Notes:	Source: Dissertation Abstracts International, Volume: 63-12, Section: A, page: 4375.
Contained By:	Dissertation Abstracts International63-12A.
Subject:	Business Administration, Accounting. -
ISBN:	0493949615

A study of Altman's revised four-variable Z″-score bankruptcy prediction model as it applies to the service industry (Edward I. Altman).
Hanson, Richard O.

A study of Altman's revised four-variable Z″-score bankruptcy prediction model as it applies to the service industry (Edward I. Altman). - 204 p.

Source: Dissertation Abstracts International, Volume: 63-12, Section: A, page: 4375.

Thesis (D.B.A.)--Nova Southeastern University, 2003.

Financial ratios have been used for many years by investors, creditors, lenders, stockholders, auditors, employees and others who may incur substantial losses as a result of business failure. Researchers have used financial ratios to develop business failure prediction models and some have focused on specific industries such as manufacturing, retail trade, and wholesale trade. However, none were located that concentrated on the service industry. This study focuses on the use of financial ratios to discriminate between bankrupt and nonbankrupt firms in the service industry.

ISBN: 0493949615Subjects--Topical Terms:

1020666
Business Administration, Accounting.

A study of Altman's revised four-variable Z″-score bankruptcy prediction model as it applies to the service industry (Edward I. Altman).
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100 1 $a Hanson, Richard O. $3 1307038
245 1 0 $a A study of Altman's revised four-variable Z″-score bankruptcy prediction model as it applies to the service industry (Edward I. Altman).
300 $a 204 p.
500 $a Source: Dissertation Abstracts International, Volume: 63-12, Section: A, page: 4375.
500 $a Adviser: Burton S. Kaliski.
502 $a Thesis (D.B.A.)--Nova Southeastern University, 2003.
520 $a Financial ratios have been used for many years by investors, creditors, lenders, stockholders, auditors, employees and others who may incur substantial losses as a result of business failure. Researchers have used financial ratios to develop business failure prediction models and some have focused on specific industries such as manufacturing, retail trade, and wholesale trade. However, none were located that concentrated on the service industry. This study focuses on the use of financial ratios to discriminate between bankrupt and nonbankrupt firms in the service industry.
520 $a Edward Altman, in 1968, was the first to use multivariate analysis to analyze the ratios of various bankrupt and nonbankrupt groups and to look at the effect of using different combinations of financial ratios to predict business failures. In 1993, Altman devised a four-variable model that established different weights for the various ratios and new cutoff values to categorize firms as bankrupt or nonbankrupt.
520 $a This study examines Altman's 1993 model to determine the level of predictive accuracy between bankrupt and nonbankrupt publicly traded firms in the service industry. A total matched sample of 54 bankrupt and 54 nonbankrupt firms within the service industry was used. The firms were matched by SIC code and asset size. The bankrupt firms had filed for bankruptcy under either Chapter 7 or Chapter 11 between approximately 1987 through 2000.
520 $a The validation sample consisted of 28 bankrupt and 28 nonbankrupt firms and correctly classified bankrupt companies 82 percent, 75 percent, and 71 percent for one year, two years, and three years respectively prior to bankruptcy.
520 $a The holdout sample, used as the evaluation sample, contained a total of 52 firms, equally divided between bankrupt and nonbankrupt companies. Altman's 1993 model correctly classified bankrupt companies 92 percent, 69 percent, and 54 percent for years one, two, and three respectively.
520 $a Altman's 1993 revised four-variable bankruptcy prediction model can be used to accurately determine bankrupt and nonbankrupt companies within the service industry. The size of the total assets bears no relationship to the tendency of a business to fail. The study found no significant correlation between bankrupt and nonbankrupt companies and the geographical location.
590 $a School code: 1191.
650 4 $a Business Administration, Accounting. $3 1020666
650 4 $a Economics, Finance. $3 626650
650 4 $a Economics, Commerce-Business. $3 626649
690 $a 0272
690 $a 0508
690 $a 0505
710 2 0 $a Nova Southeastern University. $3 1017571
773 0 $t Dissertation Abstracts International $g 63-12A.
790 1 0 $a Kaliski, Burton S., $e advisor
790 $a 1191
791 $a D.B.A.
792 $a 2003