Search or add a thesis

Advanced Search (Beta)
Home > Developing and Testing a Model of Corporate Financia Distress Prediction Specifically for Manufacturing Secto of Pakistan

Developing and Testing a Model of Corporate Financia Distress Prediction Specifically for Manufacturing Secto of Pakistan

Thesis Info

Access Option

External Link

Author

Muhammad Naeem Akhtar

Program

PhD

Institute

Iqra University

City

Karachi

Province

Sindh

Country

Pakistan

Thesis Completing Year

2019

Thesis Completion Status

Completed

Subject

Finance

Language

English

Link

http://prr.hec.gov.pk/jspui/bitstream/123456789/14684/1/Muhammad%20Naeem%20Akhtar%20%28051-06-13333-PhD%20Finance%29%202019%20iqra%20uni%20prr.pdf

Added

2021-02-17 19:49:13

Modified

2024-03-24 20:25:49

ARI ID

1676724606468

Asian Research Index Whatsapp Chanel
Asian Research Index Whatsapp Chanel

Join our Whatsapp Channel to get regular updates.

Similar


For many years, premonition of financial distress and corporate bankruptcy is under discussion. Many researchers as well as professionals and academicians contend that these are the most critical factor of corporate decision making. Researchers and specialist are involved in developing models and techniques to predict financial distress and business failures. Forewarnings and prediction of financial conditions of the companies at an appropriate point of time allows the management, investors and other counterparts to take appropriate remedial measures and develop efficient processes and policies. Many researchers and experts believe that financial statement analysis and financial accounting ratios have the ability to predict and forecast the financial distress and financial health of a particular company. The purpose of this research work is to develop, test and present the most appropriate financial distress prediction model for the manufacturing sector of Pakistan. Matched pair research design is used in this research work. The distressed and non-distressed companies have been matched by industry, year and asset size. Out of 517 manufacturing Companies, 134 Companies financial statements were finally matched selected and analyzed for five years prior to distress and checked for the mean differences and similarity for distressed and non-distressed groups consisting of sixty seven companies in each group. Afterwards, based on the previous literature recommendations, three financial distress prediction models were developed. Multiple discriminant analysis, Logit and Probit analysis techniques were engaged for the development of new models. All the techniques and methods used accounting and financial ratios calculated from the income statements and balance sheets of the selected distressed and non-distressed companies. Utilizing the financial statement data relating to manufacturing sector companies for the years from 1999 to 2013, twenty five widely used financial and accounting ratios were calculated and analyzed. Stepwise multiple discriminant analysis was used for the identification of the best performed financial ratios for the development of the Z-ScorePakistan model. Afterwards, Logit and Probit models were developed with financial and accounting ratios for the classification of the sampled companies correctly. The results of this research study indicate that models for the distressed and non-distressed Companies show dissimilarity with the results of the non-distressed companies. 13 out of total 25 ratios were considered as the most relevant for the identification of financial distress. The tested models clearly discriminate between financially distressed and non-distressed companies. Financial distress can be predicted for the published financial information in Pakistan. This research study also concludes that Logit and Probit models are the most appropriate for prediction of financial distress specifically for manufacturing sector companies of Pakistan.
Loading...
Loading...

Similar Books

Loading...

Similar Chapters

Loading...

Similar News

Loading...

Similar Articles

Loading...

Similar Article Headings

Loading...

(اچھائی؍نیکی دا بدلہ

اچھائی؍نیکی دا بدلہ

کسے ملک اتے اک ظالم بادشاہ حکمرانی کر رہیا سی۔ اوہ اپنی رعایا اتے بہت ظلم کردا تے اوس دے دربار وچوں کسے نوں وی انصاف نئیں سی ملدا۔ جو وی اوس دے خلاف بولدا، اوہ اوس نوں جانوں مار دیندا سی۔ کسے نوں اوہ پھاہے لاندا تے کسے نوں بھکھے خون خوار جانوراں اگے سٹ دتا۔ کسے دے ہتھ پیر کٹ دیندا تے کسے دیاں اکھاں کڈھ دیندا۔ اک سپاہی نے بادشاہ دے ظلم دے خلاف آواز چکی تاں بادشاہ نے اوس نوں مارن دا حکم دے دتا۔ اوہ سزا توں بچن لئی اپنے گھروں نسیا تے جنگل وچ جا کے لک گیا۔ بادشاہ نے سپاہیاں نوں جنگل جا کے لبھن تے گرفتار کرن دا حکم دتا۔ سپاہی اوس نوں گرفتار کرن لئی جنگل جاندے نیں۔ پر اگوں اوہناں نوں شیر ملدا اے جو گرج دار آواز وچ بول رہیا سی۔ سپاہی ایہہ ویکھ کے  ڈر جاندے نیں تے اوتھوں واپس بادشاہ کول آ جاندے نیں۔ جدوں سپاہی نے اوہناں نوں واپس جاندے ویکھیا تاں اوہ لکی ہوئی تھاں توں باہر آیا۔ اوہ وی شیر نوں ویکھ کے  بہت خوف زدہ ہوندا اے۔ جدوں اوس غور نال آواز سنی تاں اوس نوں لگیا کہ شیر کسے مصیبت وچ اے۔ سپاہی جدوں شیر دے نیڑے ہویا تاں شیر نے اوس نوں کجھ نہ آکھیا، ہمت کر کے سپاہی شیر دے ہور نیڑے ہویا تاں اوس ویکھیا کہ اک تیر شیر دی لت وچ کھبیا ہویا اے تے تیر لگن پاروں لہولہان اے۔ سپاہی نے ہمت کر کے پہلاں شیر دی لت وچ تیر کڈھیا جس پاروں اوہدی پیڑ کجھ گھٹ گئی۔ مڑ اوس نے اوہدے پیر وچوں کنڈا کڈھیا۔ شیر اوس دی ایس رحمدلی تے انسان دوستی توں بہت متاثر ہویا اوس دے پیر چمے تے لنگر ہندا ہویا جنگل ول...

العلامة محمد إقبال في عيون الأدباء العرب

Iqbāl is known as a revolutionary poet, and Islamic intellectual, a religious reformer, pioneer of Islamic awareness and a great leader of the Muslims of the sub-continent. He was introduced to the Arab world during the early part of 20th century and became popular after the translations of his work into Arabic. Scholars, thinkers, writers, and politicians of Arabia were very much influenced by his literary works. A number of books were written on him. Other scholars and Muslim thinkers study his works with keen interest even in the modern times. Iqbāl was paid rich tributes by Arab writers and thinkers for his unique wealth of literary works. In this article we present the views of Arabian writers about his literary status.

Study of Β-Lactamase Inhibitory Potential of Synthesized Ketophosph On Ates and Phytochemicals from Apocynaceae and Compositae Families.

Present work consists of study of β-Lactamase (BLase) inhibitory potential of phytochemicals from Apocynaceae & Compositae families and Ketophosph(on)ates. For this study; an easy, efficient & economical method was developed, used successfully and published. In this study, thirty two compounds were prepared and characterized by EIMS & 1 H-NMR. These compounds comprise of: Diethyl (2-oxo-2-phenylethyl) phosphonate(1), Diethyl [(E)-1-benzoyl-2-phenylvinyl] phosphonate(2), Diethyl[(E)- 1-benzoyl-2-(2-hydroxyphenyl) vinyl] phosphonate(3), Diethyl [(1E,3E)-1-benzoyl-4- phenylbuta-1,3-dien-1-yl] phosphonate(4), Diethyl [(1E)-1-benzoyl-2-phenylprop-1- en-1-yl]phosphonate(5), Diethyl [(E)-1-benzoyl-2-(4-hydroxy-3-methoxyphenyl) vinyl] phosphonate(6), Diethyl benzyl phosphonate(7), Diethyl [2-(2-hydroxyphenyl)- 2-oxo-1-phenylethyl] phosphonate(8), Diethyl [(3E)-2-oxo-1,4-diphenylbut-3-en-1- yl] phosphonate(9), Diethyl(2-oxo-1,2-diphenylethyl) phosphonate(10), Diethyl (2,4- dioxo-1-phenylpentyl) phosphonate(11), Diethyl (2,4-dioxo-1,4-diphenylbutyl) phosphonate(12), Ethyl (diethoxyphosphoryl) acetate(13), Diethyl (oxiran-2- ylmethyl) phosphonate(14), Diethyl[2-(2-hydroxyphenyl)-1-oxiran-2-yl-2-oxoethyl] phosphonate(15), phosphonate(16), 6-Diethyl Diethyl [(3E)-1-oxiran-2-yl-2-oxo-4-phenylbut-3-en-1-yl] (1-oxiran-2-yl-2-oxo-2-phenylethyl) phosphonate(17), Diethyl (1-oxiran-2-yl-2,4-dioxopentyl) phosphonate(18), Diethyl (1-oxiran-2-yl-2,4- dioxo-4-phenylbutyl) phosphonate(19), Diethyl (2-nitrobenzyl) phosphonate(20), six derivatives (21-26) containing the Tetraethyl ethane-1,2-diylbis (phosphonate) motif, Diethyl methylphosphonate(27), phosphonate(28), Diethyl Diethyl Diethyl [2-(2-hydroxyphenyl)-2-oxoethyl] [(3E)-2-oxo-4-phenylbut-3-en-1-yl] (2-oxo-2-phenylethyl) phosphonate(30), phosphonate(29), Diethyl(2,4-dioxopentyl) phosphonate(31) and Diethyl (2,4-dioxo-4-phenylbutyl) phosphonate (32). Seventeen compounds showed BLase inhibition activity. The compounds 1, 12, 29 & 32 were found more active than Clavulanic acid (used as standard). Extraction and bioassay guided isolation of Cichorium intybus resulted in the purification and identification of ten compounds: [Lupeol (33), β-Sitosterol(34), p- hydroxy phenyl acetic acid(35), Isovanillic acid(36), Syringic acid(37), Vanillic acid(38), Esculetin(39), Scopoletin(40), Umbelliferone(41) and Kaempferol(42)]. Stigmasterol(43) was the only compound isolated from Ageratum conyzoides but six compounds: [Conessine(44), Kurchinin(45), Conimine(46), Kurchamine(47), Holaromine(48) & Kurchessine(49)] were extracted from Holarrhena antidysenterica. viiiHowever two compounds: [Lupeol(32) & Campesterol(50)], were extracted from Carissa opaca while Quercetin(51) & Kaempferol(42) were isolated from Alstonia scholaris. β-Sitosterol(34), α-Amyrin(52) & Ursolic acid(53) came out of Calotropis procera. All the phytochemicals were subject to BLase inhibition study. In general these phytochemicals showed poor activity however Kurchamine(47), Holaromine(48) and Quercetine(51) were relatively more active in this respect.