Bankruptcy Prediction for Large and Small Firms in Asia: A Comparison of Ohlson and Altman

Surapol Pongsatat ； Judy Ramage ； Howard Lawrence

《會計與公司治理》 1卷2期 (2004/12) Pp. 1-13

https://doi.org/10.30139/JACG.200412.0001

並列摘要

This paper reports the results of a research study examining the comparative ability of Ohlson's Logit model and Altman's four-variance model for predicting bankruptcy of large and small firms in Thailand. A matched pair sample of 60 bankrupt and 60 nonbankrupt firms were examined over the years 1998 to 2003. The study concludes that while each of the two methods have predictive ability when applied to Thai firms, there is no significant difference in their respective predictive abilities for either large asset or small asset Thai firms.

並列關鍵字

Bankruptcy ； Ohlson's Model ； Altman's Model

參考文獻

Altman, E. I.(1968).Financial ratios, discriminant analysis and the prediction of corporate bankruptcy.Papers and proceedings of the Twenty-Ninth Annual Meeting of the American Finance Association.(Papers and proceedings of the Twenty-Ninth Annual Meeting of the American Finance Association).:

Altman, E. I.(1968).Financial ratios, discriminant analysis and the prediction of corporate bankruptcy.The Journal of Finance.23(4),589-609.

Altman, E. I.(1993).Corporate Financial Distress and Bankruptcy: A Complete Guide to Predicting and Avoiding Distress and Profiting from Bankruptcy.New York:John Wiley and Sons.

Beaver, W. H.(1966).Financial ratios as predictors of failure.(Empirical Research in Accounting: Selected Studies).

Beaver, W. H.(1968).Alternative accounting measures as predictors of failure.The Accounting Review.43(1),113-122.