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The Association Between Probabilities of Bankruptcy and Market Responses—A Test of Market Anticipation

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  • Christine V. Zavgren
  • Michael T. Dugan
  • James M. Reeve

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  • Christine V. Zavgren & Michael T. Dugan & James M. Reeve, 1988. "The Association Between Probabilities of Bankruptcy and Market Responses—A Test of Market Anticipation," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 15(1), pages 27-45, March.
    • Handle: RePEc:bla:jbfnac:v:15:y:1988:i:1:p:27-45
    DOI: 10.1111/j.1468-5957.1988.tb00118.x
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    References listed on IDEAS

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    1. Pinches, George E, 1978. ""A Multivariate Analysis of Industrial Bond Ratings" and the Role of Subordination: Reply," Journal of Finance, American Finance Association, vol. 33(1), pages 336-344, March.
    2. Hakansson, Nils H & Kunkel, J Gregory & Ohlson, James A, 1982. "Sufficient and Necessary Conditions for Information to Have Social Value in Pure Exchange," Journal of Finance, American Finance Association, vol. 37(5), pages 1169-1181, December.
    3. Aharony, Joseph & Jones, Charles P & Swary, Itzhak, 1980. "An Analysis of Risk and Return Characteristics of Corporate Bankruptcy Using Capital Market Data," Journal of Finance, American Finance Association, vol. 35(4), pages 1001-1016, September.
    4. Roll, Richard, 1981. "A Possible Explanation of the Small Firm Effect," Journal of Finance, American Finance Association, vol. 36(4), pages 879-888, September.
    5. Altman, Edward I. & Brenner, Menachem, 1981. "Information Effects and Stock Market Response to Signs of Firm Deterioration," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 16(1), pages 35-51, March.
    6. Blum, M, 1974. "Failing Company Discriminant-Analysis," Journal of Accounting Research, Wiley Blackwell, vol. 12(1), pages 1-25.
    7. Deakin, Eb, 1972. "Discriminant Analysis Of Predictors Of Business Failure," Journal of Accounting Research, Wiley Blackwell, vol. 10(1), pages 167-179.
    8. Ohlson, James A., 1979. "Risk, Return, Security-Valuation and the Stochastic Behavior of Accounting Numbers," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 14(2), pages 317-336, June.
    9. Pinches, George E., 1980. "Factors influencing classification results from multiple discriminant analysis," Journal of Business Research, Elsevier, vol. 8(4), pages 429-456, December.
    10. Edward I. Altman, 1968. "Financial Ratios, Discriminant Analysis And The Prediction Of Corporate Bankruptcy," Journal of Finance, American Finance Association, vol. 23(4), pages 589-609, September.
    11. Wilcox, Jw, 1971. "Simple Theory Of Financial Ratios As Predictors Of Failure," Journal of Accounting Research, Wiley Blackwell, vol. 9(2), pages 389-345.
    12. Martin, Daniel, 1977. "Early warning of bank failure : A logit regression approach," Journal of Banking & Finance, Elsevier, vol. 1(3), pages 249-276, November.
    13. Dambolena, Ismael G & Khoury, Sarkis J, 1980. "Ratio Stability and Corporate Failure," Journal of Finance, American Finance Association, vol. 35(4), pages 1017-1026, September.
    14. Santomero, Anthony M. & Vinso, Joseph D., 1977. "Estimating the probability of failure for commercial banks and the banking system," Journal of Banking & Finance, Elsevier, vol. 1(2), pages 185-205, October.
    15. Ohlson, Ja, 1980. "Financial Ratios And The Probabilistic Prediction Of Bankruptcy," Journal of Accounting Research, Wiley Blackwell, vol. 18(1), pages 109-131.
    16. Zmijewski, Me, 1984. "Methodological Issues Related To The Estimation Of Financial Distress Prediction Models," Journal of Accounting Research, Wiley Blackwell, vol. 22, pages 59-82.
    17. Eisenbeis, Robert A, 1977. "Pitfalls in the Application of Discriminant Analysis in Business, Finance, and Economics," Journal of Finance, American Finance Association, vol. 32(3), pages 875-900, June.
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