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

Financial Innovation

Table 4 Descriptive Statistics of the Financial Ratios

Sample	Statistic	NITA	CACL	WCTA	RETA	EBITA	SLTA	TDTA	CATA	NINW
Distressed	Mean	−0.290	2.519	0.215	−0.295	−0.100	0.984	1.151	0.714	2.257
	SD	0.321	3.951	0.538	0.322	0.26	1.041	0.651	0.833	3.946
Non-Distressed	Mean	0.044	3.496	0.553	0.034	0.152	2.013	0.723	0.961	0.054
	SD	0.094	6.428	0.788	0.08	0.14	2.966	0.627	1.058	0.185
	P-Value	0.000	0.299	0.005	0.000	0.000	0.009	0.000	0.142	0.000
Sample	Statistic	MVEBVD	CFOTA	CLTA	CFTD	CASL	NISL	LTDTA	NWTA	TDNW
Distressed	Mean	−0.157	−0.159	0.499	−0.205	39.016	−23.170	1.151	−0.287	−14.589
	SD	0.200	0.262	0.571	0.409	250.959	114.765	0.651	0.485	40.268
Non-Distressed	Mean	0.481	0.104	0.407	0.132	0.861	0.012	0.723	0.48	1.858
	SD	0.300	0.128	0.436	0.999	1.830	0.447	0.627	0.420	1.835
	P-Value	0.000	0.000	0.307	0.013	0.223	0.106	0.000	0.000	0.001
Sample	Statistic	TLNW	WCSL	WCNW	TLTA	CLCA	FUTL	NITL
Distressed	Mean	−23.578	−41.127	−5.685	1.681	0.821	−0.091	−0.191
	SD	76.339	342.421	29.01	0.982	0.693	0.116	0.230
Non-Distressed	Mean	2.859	0.305	1.094	1.150	0.560	0.129	0.360
	SD	2.451	1.060	0.932	0.873	0.427	0.371	2.586
	P-Value	0.006	0.331	0.062	0.001	0.011	0.000	0.089