【Unique and Common Effects of Financial Ratios on Financial Risk Estimation】
#论文发表# #企业破产# #财务风险# #财务比率# #会计与金融#

The prediction of corporate bankruptcy and financial distress has been a central topic in accounting and finance research for more than half a century. The central area of this topic deals with assessing the contribution of financial ratios on prediction. This study provides a comprehensive analysis of key financial ratios in explaining corporate bankruptcy and financial distress, and focuses on four widely used financial ratios representing core dimensions of financial analysis: Equity ratio (solvency), Return on assets (profitability), Quick ratio (liquidity), and Cash flow to sales ratio (cash flow adequacy), including both accrual-based (traditional) and cash-based (operating) formulations.

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