Análisis del Modelo Z de Altman en el mercado peruano.

Edmundo R. Lizarzaburu

doi:10.12804/rev.univ.empresa.26.2014.05

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Analysis of Altman Z-Score in the Peruvian Market

DOI: https://doi.org/10.12804/rev.univ.empresa.26.2014.05

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Issue: Vol. 16 No. 26 (2014): (January-June)

Section Articles

Keywords: Bolsa de Valores de Lima (bvl) , desempeño financiero , Índice Selectivo de la Bolsa de Valores de Lima (isbvl) , Modelo Z de Altman , Z-Score Altman’s model , Altman Z-score , Financial performance , Lima Stock Exchange (bvl) , Selective Index of the Lima Stock Exchange (isbvl). Bolsa de Valores de Lima (bvl) , desempenho financeiro , Índice Seletivo da Bolsa de Valores de Lima (isbvl) , Modelo Z de Altman , Z-Score

Authors

Edmundo R. Lizarzaburu Universidad ESAN de Lima (Perú)

Abstract

The research that gives rise to this article intends to provide in depth knowledge on the operation, precision, accuracy, and veracity of Altman Z-score and also to determine if it can be effective and adaptable to the conditions of a specific context such as the Peruvian market. In this vein, financial statements from 2008 and 2012 of those companies that are part of the Selective Index of the Lima Stock Exchange (isbvl) which, in the end are the most representative of the Peruvian Stock Market, are analyzed. Companies are analyzed in terms of Altman Z-score. The analysis is focused on the assessment of financial ratios which indicate the fundamental behavior of a company. It is noted that the interpretation of these ratios depends on the context and is not just numerical. It is also related to the behavior itself of the assessed company

Author Biography

Edmundo R. Lizarzaburu, Universidad ESAN de Lima (Perú)

Candidato a Doctor en Investigación de Ciencias de la Administración, Universidad Carlos III de España. Global MBA de Thunderbird y EGADE - TEC de Monterrey. Magíster en Contabilidad y Finanzas, Universidad de San Martin de Porres. Profesor de Finanzas y Riesgos en la Universidad ESAN de Lima (Perú), consultor internacional y director de empresas.

How to Cite

Lizarzaburu, E. R. (2014). Analysis of Altman Z-Score in the Peruvian Market. Revista Universidad Y Empresa, 16(26), 141–158. https://doi.org/10.12804/rev.univ.empresa.26.2014.05

References

Altman, E. (1968). Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. Journal of Finance, 23(4), 589-609

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Edmundo R. Lizarzaburu, Universidad ESAN de Lima (Perú)

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