1. How well and with how much anticipation can the Z-Score signal the risk of bankruptcy?
2. Is it worth looking back at how the Z-Score was, say, one or two or three fiscal years prior?
3. If the Z-Score is high and the actual bond rating is in the investment grade range, would that be a sign that a company is not risky?
4. Can the Z-Score be used as an ongoing instrument to manage corporate turnaround?
5. Is the Z-Score more important for bond investors or for equity investors?
6. What is the difference between bankruptcy reorganization versus liquidation?