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Estimating the Probability of Financial Distress in European Markets: Prediction Models and Empirical Applications

In: Bank Performance, Risk and Securitization

Author

Listed:
  • Andrea Cerri

    (Cattolica University of Milan)

  • Gimede Gigante

    (Bocconi University)

Abstract

Until now, financial performance indicators as a means of default forecast tools have been less frequently employed in Europe than in the United States; a widespread practice in fact is that each financial institution develops and applies its own bankruptcy prediction model. One of the most relevant indicators in the United States has historically been the Z-Score model, developed by Professor E. Altman in the late sixties.

Suggested Citation

  • Andrea Cerri & Gimede Gigante, 2013. "Estimating the Probability of Financial Distress in European Markets: Prediction Models and Empirical Applications," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Joseph Falzon (ed.), Bank Performance, Risk and Securitization, chapter 3, pages 37-52, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-1-137-33209-7_4
    DOI: 10.1057/9781137332097_4
    as

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