Replicate Appiah 2011 (i.e. Corporate Failure Prediction: Some Empirical Evidence From

Listed Firms in Ghana)

using Altmans (2000) Z-Score

The Z score model (Altman's revised (2000) model) Z = 0.717a + 0.847b+ 3.107c+0.420d + 0.998e Where: a = Working capital/Total assets b = Accumulated retained profits/Total assets c= Operating profit/Total assets d = Book (statement of financial position) value of ordinary and preference shares/Total liabilities at book (statement of financial position) value e = Sales revenue/Total assets The Z score model (Altman's revised (2000) model) Z = 0.717a + 0.847b+ 3.107c+0.420d + 0.998e Where: a = Working capital/Total assets b = Accumulated retained profits/Total assets c= Operating profit/Total assets d = Book (statement of financial position) value of ordinary and preference shares/Total liabilities at book (statement of financial position) value e = Sales revenue/Total assets