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- The Evolution of the Altman Z-Score Models for Predicting Financial Distress of Companies and Sovereigns and their Applications
The Evolution of the Altman Z-Score Models for Predicting Financial Distress of Companies and Sovereigns and their Applications
開催日 | 2016年10月06日(木) | 時間 | 19時00分~20時00分 |
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対象者 | Non-Members 3,000JPY | ||
定員 | 定員になり次第締切り | ||
パネラー・講師 | Professor Edward I. Altman (Professor Emeritus of Finance, Stern School of Business, New York University) | ||
主催 | CFA Society Japan |
セミナー詳細
Professor Altman reviews the evolution of credit scoring models to predict corporate distress, from fundamental financial ratios and other univariate measures to his pioneering work utilizing a multi-variate approach, more commonly known as the "Altman Z-Score" model. The seminar will explore how to adjust the original Z-Score model to make it applicable in the current environment for all industrial companies, not just manufacturers. Dr. Altman will also recommend an approach to transform the models' Z-Scores into a probability of default for various investment horizons. Through case studies and high profile bankruptcies, the seminar will explore a number of pragmatic applications, including some obvious ones in the investment field and some less obvious ones involving managing a financial turnaround for distressed companies. Finally, a new and unique application is presented to utilize firm default prediction models, aggregated at the country level, to assess the probability of default of sovereigns.