摘要：This study uses data from Serbian publicly listed companies of non-banking sector which were part of Belex15 index during September 2010 and non-banking sector stocks that entered into the composition of Belexline index,to test the accuracy of Altman‟s Z-score model in predicting failure of Serbian companies for period 2006-2009. Prediction accuracy was tested for three Z-score variations:Altman‟s original model,a revised model for private companies,and the enhanced model for emerging markets.
关键词：Models for bankruptcy prediction;ratio analysis;Altman‟s Z-score;Belgrade Stock Exchange
