Financial distress is a condition when company experiencing financial difficulties, resulting in the being unable to pay its obligations and leading bankruptcy. This study was conducted examine liquidity ratio (Current Ratio), leverage (Debt Equity profitability (Return on Equity), sales growth (Altman Z-Score) retail sub-sector companies listed Indonesia Stock Exchange (IDX) for 2015-2019 peri...

Logit Kernel is a discrete choice model that has both probit-like disturbances as well as an additive i.i.d. extreme value (or Gumbel) disturbance à la multinomial logit. The result is an intuitive, practical, and powerful model that combines the flexibility of probit (and more) with the tractability of logit. For this reason, logit kernel has been deemed the “model of the future” and is becomi...

Credit ratings and accounting-based Altman Z-scores are two important sources of information for assessing the creditworthiness of firms. In this paper we build a model based on a double Hidden Markov Model, (DHMM), to extract information about the “true” credit qualities of firms from both the Z-scores evaluated from the accounting ratios of the firms and their posted credit ratings. The evolu...

logit models are one of the most important discrete choice models and they play an important role in describing decision makers’ choices among alternatives. in this paper the multi-nominal logit models has been used in mode choice modeling of isfahan. despite the availability of different mathematical computer programs there are not so many programs available for estimating discrete choice mode...