Jayasekera, L.I.R. and Chatterjee, R.
Analysis & Prediction of Company Failure; with special emphasis on the US airline Industry. Southampton, GB, University of Southampton
(Discussion Papers in Accounting & Finance; WorkingPaperSeries --> Accounting and Finance, AF-10-03).
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This paper builds a model capable of predicting failure among US carriers. Addressing some significant drawbacks with Altmans Z score (1968, 1983) and building upon the research of Goudie and Meeks (1991, 1998), the financial statement of a carrier is projected into the future and a prediction model is built to capture the erosion of a firms value, contingent on the projected financial statements.
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