REVIEW OF THE PREDICTION POWER OF ALTMAN AND OHLSON MODELS IN PREDICTING BANKRUPTCY OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE

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GHADIRI MOGHADAM A.A.F.; GHOLAMPOURFARD M.M.; NASIRZADEH F.

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Journal: KNOWLEDGE AND DEVELOPMENT Year:2009 | Volume:16 | Issue:28 Page(s): 176-192

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Title

REVIEW OF THE PREDICTION POWER OF ALTMAN AND OHLSON MODELS IN PREDICTING BANKRUPTCY OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE

Author(s)

GHADIRI MOGHADAM A.A.F. | GHOLAMPOURFARD M.M. | NASIRZADEH F. | Issue Writer Certificate

Keywords

BANKRUPTCYQ2

FINANCIAL RATIOQ3

BANKRUPTCY PREDICTION MODELSQ3

ALTMAN MODELQ3

OHLSON MODELQ3

MULTIPLE DISCRIMINANT ANALYSISQ3

LOGISTIC REGRESSIONQ3

Abstract

Current collapses of big companies and the worse fluctuations of the financial markets have evoked the awareness of the stakeholders and managers to utilize suitable tools to predict the financial distress of companies. One of such tools is the application of FINANCIAL RATIOs as independent variables and developing models to predict BANKRUPTCY issue. The objective of this study is first to test the prediction power of original Altman (1983) and Ohlson (1980) models on the dataset of Iranian listed companies and secondly by applying MULTIPLE DISCRIMINANT ANALYSIS (i.e. MDA) and Logit Analysis statistical techniques on the same dataset, develop a suitable prediction model for BANKRUPTCY of listed companies in the economic environment of Iran. It was finally concluded that both original Ohlson BANKRUPTCY prediction model in 1980 without any modification of multipliers and coefficients and LOGISTIC REGRESSION technique showed better prediction results than original Atman model in 1983 or Discriminant analysis technique.

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APA: Copy

GHADIRI MOGHADAM, A.A.F., GHOLAMPOURFARD, M.M., & NASIRZADEH, F.. (2009). REVIEW OF THE PREDICTION POWER OF ALTMAN AND OHLSON MODELS IN PREDICTING BANKRUPTCY OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE. KNOWLEDGE AND DEVELOPMENT, 16(28), 176-192. SID. https://sid.ir/paper/356377/en

Vancouver: Copy

GHADIRI MOGHADAM A.A.F., GHOLAMPOURFARD M.M., NASIRZADEH F.. REVIEW OF THE PREDICTION POWER OF ALTMAN AND OHLSON MODELS IN PREDICTING BANKRUPTCY OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE. KNOWLEDGE AND DEVELOPMENT[Internet]. 2009;16(28):176-192. Available from: https://sid.ir/paper/356377/en

IEEE: Copy

A.A.F. GHADIRI MOGHADAM, M.M. GHOLAMPOURFARD, and F. NASIRZADEH, “REVIEW OF THE PREDICTION POWER OF ALTMAN AND OHLSON MODELS IN PREDICTING BANKRUPTCY OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE,” KNOWLEDGE AND DEVELOPMENT, vol. 16, no. 28, pp. 176–192, 2009, [Online]. Available: https://sid.ir/paper/356377/en

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