Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/310606 
Year of Publication: 
2015
Citation: 
[Journal:] Journal of Accounting and Management Information Systems (JAMIS) [ISSN:] 2559-6004 [Volume:] 14 [Issue:] 4 [Year:] 2015 [Pages:] 685-703
Publisher: 
Bucharest University of Economic Studies, Bucharest
Abstract: 
This study analyzes five of the well-known and most cited distress prediction models in the literature. The models are implemented to continuous publicly listed industrial firms in Turkey through their original and re-estimated coefficients in a comparative way to examine their generalizability in different time periods and samples. The effect of 2008 financial crisis is also assessed to conduct a fuller analysis of the models' prediction accuracies. The results emphasize that Ohlson (1980), Taffler (1983), Zmijewski (1984), and Shumway (2001) provide highly accurate distress classification results through their original coefficients for Turkish industrial market. On the other hand, the re-estimation of the models (other than Ohlson's [1980]) fails to improve the prediction accuracies which are also found insignificant by considering the pre and post crisis periods.
Subjects: 
Financial distress prediction
emerging markets
model comparison
financial crisis
multiple discriminant analysis
logit
probit
hazard model
financial ratios
JEL: 
M21
C13
C33
C35
C55
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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