Articlediamond2015

Monitoring Distressed Companies through Cash Flow Analysis

Noor Salfizan Fawzi · Amrizah Kamaluddin · Zuraidah Mohd Sanusi

43 citations0/0 files storedProcedia Economics and Finance

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Financial Distress and Bankruptcy Prediction Financial Analysis and Corporate Governance Corporate Insolvency and Governance

Abstract

The purpose of this paper is to examine the importance of cash flow ratios in determining financial distress companies. Using a logistic regression, this paper analyses the data of 52 distressed and 52 non-distressed companies for three years prior to distress years between 2009 until 2012. The results found that five cash flow ratios are significant predictors of financial distress with the overall predictive accuracy of 82.1 percent. This suggests that cash flow ratios are reliable tools to predict financial distress for Malaysian context.

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References

2002Predicting corporate financial distress: Reflections on choice-based sample bias 1985Using Operating Cash Flow Data to Predict Financial Distress: Some Extensions 2001The Limitations of Bankruptcy Prediction Models: Some Cautions for the Researcher 2001An Empirical Investigation of Firm Longevity: A Model of the Ex Ante Predictors of Financial Distress 2011Corporate failure prediction: a study of public listed companies in Malaysia 2008Predicting corporate failure of Malaysians listed companies: Comparing multiple discriminant analysis, logistic regression and the hazard model 2004Performance Measurement Through Cash Flow Ratios and Traditional Ratios: A Comparison of Commercial and Casino Hotel Companies

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