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Table 11 Coefficient Comparison of Different Models

From: Re-estimation and comparisons of alternative accounting based bankruptcy prediction models for Indian companies

Statistic

Altman (1968) Model

Re-estimated Model

Ohlson (1980) Model

Re-estimated Model

Zmijewski (1984) Model

Re-estimated Model

New Model

WCTA

1.2a

0.076a

−1.4b

−5.216c

   

RETA

1.4a

1.464a

     

EBITA

3.3a

−0.63a

     

BVEBVD

0.6a

3.474a

    

−13.86a

SLTA

0.99

0.028a

    

−1.113c

SIZE

  

−0.4a

0.079

   

TLTA

  

6.03a

1.623

5.7a

0.586a

 

CLCA

  

0.1b

−2.973b

   

OENEG

  

−2.4a

2.836b

   

NITA

  

−1.8b

−29.676a

  

−18.76b

FUTL

  

0.3a

−2.559

   

INTWO

  

−1.7

0.337

   

CHIN

  

−0.5a

1.73c

   

NITL

    

−4.5a

−13.797a

−34.354b

CACL

    

0.004b

0.01

 

Constant

 

−0.425

−1.3

−2.454c

−4.3a

−1.522a

−0.604

LR

  

0.839d

−15.952

203.78

−33.296

164.956

P-value

  

0.000

0.000

0.000

0.000

0.000

  1. Note: a, b and c represents the level of significance at 1 per cent, 5 per cent and 10 per cent respectively. d is the Likelihood Ratio Index and LR is the Log Likelihood Ratio
  2. Source: Author’s estimation