Applications of Z-Score Model to Predict Financial Health in Selected Real Estate Companies Listed in NSE (for the Period 2007-2011)

2013 ◽  
Author(s):  
Satish Dr. Kumar
Keyword(s):  
Real Estate ◽  
Financial Health ◽  
Z Score ◽  
Score Model

scholarly journals A STUDY ON FINANCIAL HEALTH OF SELECTED PUBLIC SECTOR MANUFACTURING COMPANIES OF INDIA : WITH REFERENCE TO Z-SCORE ANALYSIS

2021 ◽  
Vol 9 (08) ◽  
pp. 857-865
Author(s):  
Nidhi Sharma ◽  
◽  
Shivani Peppal ◽  
Keyword(s):  
Public Sector ◽  
Grey Zone ◽  
Manufacturing Companies ◽  
Financial Health ◽  
Z Score ◽  
Common Condition ◽  
Score Analysis ◽  
Score Model

Financial distressed from a decade has become a common condition for manufacturing companies of India. Many public sector manufacturing companies have also witnessing poor financial health. This study has examined the financial health of eighteen selected public sector manufacturing companies which are further divided into four sectors as Metal, Sugar, Paper and Textile. The examination of financial health of selected companies has been performed by calculating Altman Z-score model for four year prior to become distressed. And it has been found by the analysis that most of the company was in either distressed zone or in grey zone. The study also finds that Altman Z-Score Model is a perfect tool to examine the health of public sector manufacturing companies.

scholarly journals Financial Soundness of Cement Industry of Bangladesh: An Empirical Investigation Using Z-score

2014 ◽  
Vol 1 (1) ◽  
pp. 16-22 ◽  
Author(s):  
A. N. K. Mizan ◽  
Md. Mahabbat Hossain
Keyword(s):  
Empirical Investigation ◽  
Raw Materials ◽  
Cement Industry ◽  
Annual Reports ◽  
Business Firm ◽  
Financial Health ◽  
Z Score ◽  
Financial Soundness ◽  
Financial Decision ◽  
Score Model

For measuring the financial health of a business firm, there are lots of techniques available. But the Altman’s Z-score has been proven to be a reliable tool across contexts. Bangladesh cement industry is a unique one because, the industry is producing a higher amount of cement than the local demand having no supply of local raw materials. The main objective of the study is to assess the fundamental financial health of this industry using Z-score model. All listed cement firms are considered in this study. The required information has been collected from the annual reports of the selected companies and from other sources. The study revealed that two firms, Heidelberg cement and Confidence Cement, are financially sound whereas other three are not in a good position. The findings of the study can be useful for the managers to take financial decision, the stockholders to choose investment options and others to look after their interest in the concern cement manufacturers of the country.

scholarly journals Impak Struktur Modal, Struktur Kepemilikkan dan Karakteristik Perusahaan Terhadap Financial Distress dan Financial Health Perusahaan

2021 ◽  
Vol 23 (1) ◽  
pp. 135-149
Author(s):  
Ratnawati Raflis ◽  
Enny Arita
Keyword(s):  
Logistic Regression ◽  
Capital Structure ◽  
Financial Performance ◽  
Ownership Structure ◽  
Financial Distress ◽  
Stock Exchange ◽  
Financial Health ◽  
Z Score ◽  
Score Model ◽  
The Impact

Corona Virus Pandemic affected the world economy, including Indonesia. Many companies are out of business due to this pandemic.With the background of the conditions mentioned above, the researchers are interested in examining more deeply the variables that determine the level of financial distress and at the same time the financial health of the company. Furthermore, the variables that are used as independent variables and are thought to affect the company's financial performance are capital structure, ownership structure and company characteristics. In assessing financial performance, the Altman Z Score model is used and then to see the impact of the variables that are thought to affect the company's financial performance.The research model used is the Logistic Regression equation.Population and sample are taken from financial data of companies listed on the Indonesia Stock Exchange. Data is taken manually on the website: www.idx.co.id. And the period in this study was taken from 2015-2019. The test results prove that the Capital Structure and Ownership Structure are factors that have a significant influence on the Company's Financial Distress and Financial Health. ABSTRAK Pandemi Virus Corona berimbas pada perekonomian dunia tidak terkecuali pada perekonomian di Indonesia. Banyak perusahaan yang gulung tikar akibat pandemik ini. Dengan berlatar belakang kondisi tersebut diatas maka peneliti tertarik untuk mengkaji lebih dalam menentukkan variabel yang sangat menentukan tingkat Financial Distress dan sekaligus financial health (Kinerja Keuangan) perusahaan. Selanjutnya variabel yang di jadikan variabel independen dan di duga berpengaruh terhadap kinerja keuangan perusahaan adalah struktur modal, struktur kepemilikkan dan Kharakteristik Perusahaan. Dalam menilai kinerja keuangan maka digunakan model Altman Z Score dan selanjutnya untuk melihat dampak variabel yang di duga berpengaruh terhadap kinerja keuangan perusahaan. Model penelitian yang di pakai adalah persamaan Logistic Regression. Model ini kemudian akan di lakukan uji T , Uji F dan Uji Asumsi Klasik sebelum di gunakan dalam melihat signifikasi variabel independen terhadap variabel dependen. Populasi dan sampel diambil dari data keuangan perusahaan yang terdaftar di Bursa Efek Indonesia. Data diambil secara manual di website: www.idx.co.id. Periode pada penelitian ini diambilkan data dari tahun 2015-2019. Hasil Pengujian membuktikan bahwa Struktur Modal dan Struktur Kepemilikkan adalah faktor yang sangat berpengaruh signifikan terhadap Financial Distress dan Financial Health Perusahaan.

scholarly journals An Empirical Analysis of Financial Health in Auto Ancillary Units and Realty Sector using Altman’s Z Score Model

2011 ◽  
pp. 132-140
Author(s):  
B. Senthil Arasu ◽  
P. Nageswari ◽  
R. Ramya
Keyword(s):  
Capital Structure ◽  
Empirical Analysis ◽  
Dividend Policy ◽  
Business Firm ◽  
Business Organization ◽  
Financial Health ◽  
Z Score ◽  
Financial Strength ◽  
Future Potential ◽  
Score Model

Financial strength is a serious issue for the business firms. For measuring the financial strength of a business firm, there are lots of methods were available. But Altman’s Z-score model is one of the reliable and good methods. This model is predicting the possibilities of the bankruptcy of a business organization. The aim of the present study is analyzed the financial health of Auto Ancillary and Realty companies. For the purpose of this study, the required data collected from April 2014 to March 2018. From the study, it clearly understood that most of the sample companies are financially distressed. They better closed down their business. They are Exide industries and Amtek Auto‘s in Ancillary units and Brigade enterprises, Unitech, Prestige estate & Sunteck in Reality sector. And it also finds that Amara Raja Batteries, Omax Auto and PRICOL in Auto Ancillary units are financially healthy at present, but it will not improve their liquidity, asset productivity and solvency within 2 years it may go to bankruptcy. Phoenix Township performance sound in previous years and its performance comes down in succeeding 2 years. So it recommended to the management must take necessary steps for improving their efficiency. And also it recommends to the policymakers to make an optimum capital structure like Debt and Equity mix and proper dividend policy for maintaining sufficient earnings for future potential investment.

scholarly journals MENILAI KESEHATAN KEUANGAN MITRA DALAM ANALISIS KELAYAKAN PEMBERIAN MODAL MENGGUNAKAN METODE Z-SCORE

2021 ◽  
Vol 7 (2) ◽  
pp. 245-254
Author(s):  
Aries Maesya ◽  
Evi Sopiani
Keyword(s):  
Financial Statements ◽  
Financial Health ◽  
Z Score ◽  
Gray Area ◽  
A Value ◽  
Financial Soundness ◽  
Score Method ◽  
Score Model ◽  
The Right ◽  
The Relationship

ABSTRAKTujuan penelitian ini adalah menilai kesehatan keuangan mitra menggunakan metode Z-Score untuk memprediksi kesehatan keuangan mitra atau calon debitur. Subjek penelitian ini di tiga mitra atau nasabah dari PT Mitra Bisnis Keluarga Ventura dari sektor manufaktur dan perdagangan. Penelitian ini adalah penelitian kualitatif deskriptif. Metode analisis data menggunakan model Altman Z-Score dengan menganalisis laporan keuangan nasabah PT Mitra Bisnis Keluarga Ventura dari tiga periode atau lebih. Berdasarkan hasil penelitian yang dilakukan, Data Mitra A dikategorikan sehat dengan Z-Score 3,80, Data Mitra B dikatakan tidak sehat dengan nilai 0,52 dan Data Mitra C dikatakan Grey Area karena memiliki angka di bawah 2,60, yaitu 2,33. Hasil penelitian ini mengimplikasikan bahwa Keterkaitan antara Metode Z-Score dengan hasil keputusan tingkat kesehatan keuangan cukup membantu dalam menganalisis laporan keuangan dan dapat menghasilkan keputusan yang tepat dalam menilai kesehatan keuangan mitra. ABSTRACTThe purpose of this study is to assess the financial health of partners using the Z-Score method to predict the financial health of partners or prospective debtors. The subjects of this study were three partners  of PT Mitra Bisnis Keluarga Ventura from the manufacturing and trading sectors. This research is a descriptive qualitative research. The data analysis method uses the Altman Z-Score model by analyzing the financial statements of PT Mitra Bisnis Keluarga Ventura customers from three or more periods. Based on the results of the research conducted, Partner A's data is categorized as healthy with a Z-Score of 3.80, Mitra B's data is said to be unhealthy with a value of 0.52 and Partner C's data is said to be gray area because it has a number below 2.60, which is 2.33. The results of this study imply that the relationship between the Z-Score method and the results of financial soundness decisions is quite helpful in analyzing financial statements and can produce the right decisions in assessing the financial health of partners.

scholarly journals Metode Altman Z-Skor Dalam Memprediksi Kepailitan Di Semua Koperasi Kredit Di Kabupaten Maumere

2020 ◽  
Vol 21 (01) ◽  
Author(s):  
Yoseph Darius Purnama Rangga ◽  
Henrikus Herdi ◽  
Wilhelmina Mitan
Keyword(s):  
Secondary Data ◽  
Credit Union ◽  
Bankruptcy Prediction ◽  
Regional Government ◽  
Financial Health ◽  
Z Score ◽  
Analytical Technique ◽  
Gray Area ◽  
Credit Cooperatives ◽  
Score Model

Abstract Problems that often occur in a cooperative are usually caused by financial problems. To measure the level of financial health cooperatives can be used analysis of financial ratios using the Altman Z-Score model. This research aims to predict bankruptcy in the credit Union of the regional government Puskopdit, Maumere, using the Altman Z-Score model. The samples in this study were credit cooperatives of the main district Puskopdit in 2015-2017 consisting of 16 cooperatives. The data source used is the secondary data in the form of cooperative financial statements. The analytical technique used is the Altman Z-Score Bankruptcy Prediction model. The results showed that there is a cooperative that has been in the healthy category during the year 2015-2017, namely Torch Mas Cooperative, Tuke Jung, Ortal, Plantation, star East, and Serba Te. In the years 2015 and 2016 Kelubagolit cooperatives entered in the category of gray area, but in the year 2017 the cooperative is in a healthy category. In addition, there are cooperatives during the year 2015-2017 in the category of gray area namely Sube Huter Cooperative, Tuke Ler, Hiro Heling, Bina Pertiwi, and Surya Sakti. The cooperatives of San Dominggo in 2015 and 2016 were in the category of bankruptcy, but the following year entered the gray area category. The cooperative in the category of bankruptcy from 2015-2017 is the youth cooperative Hokeng and Ankara. In the year 2015 Plelu Meluk Cooperative entered in the category of gray area, the cooperative's performance continued to decline and in the year 2016 and 2017 the cooperative was entered in the category of bankruptcy. In the years 2018, Hokeng Youth Cooperative experienced an amalgamation with Mitan Gitan Cooperative. This indicates that the accuracy level of the Altman Z-Score model is high..

scholarly journals COMPARISON OF ALTMAN'S Z - SCORE MODEL AND ALTMAN'S Z''- SCORE MODEL ON THE SAMPLE OF COMPANIES WHOSE SHARES ARE INCLUDED IN THE REPUBLIC OF SRPSKA STOCK EXCHANGE INDEX

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Goran Radivojac ◽  
Aleksandra Krčmar ◽  
Boško Mekinjić
Keyword(s):  
Financial Distress ◽  
Stock Exchange ◽  
Emerging Market ◽  
Manufacturing Companies ◽  
Financial Health ◽  
Z Score ◽  
Insolvency Risk ◽  
Privately Held Firms ◽  
The Republic ◽  
Score Model

In this paper, we analysed companies whose shares are included in the Republic of Srpska Stock Exchange Index (BIRS), using Altman's Z-Score model and Altman's Z"-Score model, in order to determine their insolvency risk. Altman's Z-Score is a combination of five weighted financial ratios used to estimate the likelihood of financial distress, and possible bankruptcy of the observed companies. It is used widely by auditors, accountants, commercial banks, and other organizations to assess the financial health of their clients. Altman also developed revised versions of the model to assess the financial health of privately-held firms and non-manufacturing companies, as well as companies in emerging markets - Altman's Z'- Score model and Altman's Z" - Score model. The results of our research on a sample of 14 companies whose shares are included in BIRS show that, although it is an emerging market, Altman's Z-Score model gives better results that indicate much-needed caution when drawing conclusions about the observed companies.

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