Financial Statement Analysis and the Prediction of Financial Distress

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Now Publishers Inc, 2011 - Business & Economics - 79 pages
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Financial Statement Analysis and the Prediction of Financial Distress discusses the evolution of three main streams within the financial distress prediction literature: the set of dependent and explanatory variables used, the statistical methods of estimation, and the modeling of financial distress. Section 1 discusses concepts of financial distress. Section 2 discusses theories regarding the use of financial ratios as predictors of financial distress. Section 3 contains a brief review of the literature. Section 4 discusses the use of market price-based models of financial distress. Section 5 develops the statistical methods for empirical estimation of the probability of financial distress. Section 6 discusses the major empirical findings with respect to prediction of financial distress. Section 7 briefly summarizes some of the more relevant literature with respect to bond ratings. Section 8 presents some suggestions for future research and Section 9 presents concluding remarks.
 

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Contents

Concepts of Financial Distress
3
Theory of the Use of Financial Statement
13
The Use of Market ValueBased
29
Modeling the Probability of Bankruptcy
35
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About the author (2011)

Beaver of Stanford University

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