- Uluslararası Yönetim İktisat ve İşletme Dergisi
- Vol: 7 Issue: 13
- THE USAGE OF Z-SCORE MODEL AS BANKRUPTCY PREDICTION MODEL AND AN APLICATION TO COMPANIES OF KAZAKHST...
THE USAGE OF Z-SCORE MODEL AS BANKRUPTCY PREDICTION MODEL AND AN APLICATION TO COMPANIES OF KAZAKHSTAN
Authors : Osman Şahin, Aidarkhan Altey
Pages : 289-314
View : 8 | Download : 3
Publication Date : 2011-06-01
Article Type : Other
Abstract :Corporate bankruptcy is a subject of extensive research, and since 1960’s a number of models were developed to predict failures in the real world. The most prominent research was done by Dr. Edward Altman, who developed Z-score model in 1968 for the US companies, which has been extensively used by practitioners. In this model a set of financial ratios specific to a company are analyzed in order to give a judgment on the company’s likelihood to go bankrupt. The goal of this paper is to see the efficiency of Altman’s bankruptcy prediction model to Kazakhstan market. The model is built based on financial variables which are derived from financial statements of companies listed on Kazakhstan Stock Exchange KASE .Keywords : İflas Tahmin Modelleri, Altman Z-Score, Kazakistan.