Publication Type
Journal Article
Version
publishedVersion
Publication Date
11-2018
Abstract
Singapore is a key leading economy in the Asia Pacific region. This study examines the relationship between the financial health, as measured by the Altman Z-Score, and corporate performance, as measured by the Return on Equity (ROE), of listed manufacturing companies in this market. A linear regression has been conducted between these variables to determine the magnitude and direction of their relationships. The trends of Z-Scores over a five-year period have also been analysed.The analysis covers the period from 2013 to 2017 (inclusive) and yields a statistically positive correlation between ROE and the Z-Score for the market. Singapore registered relatively moderate-to-healthy mean and median Z-Scores. These findings further support the strong economic position of this market in Asia.
Keywords
Financial Health, Corporate Performance, Manufacturing, Altman Z-Score, Singapore, SGX
Discipline
Accounting | Corporate Finance
Research Areas
Financial Performance Analysis
Publication
Archives of Business Research
Volume
6
Issue
11
First Page
41
Last Page
47
ISSN
2054-7404
Identifier
10.14738/abr.611.5566
Publisher
Services for Science and Education
Citation
FOO, See Liang and PATHAK, Shaakalya.
Studying the relationship between performance and Z-Scores for manufacturing firms in Singapore. (2018). Archives of Business Research. 6, (11), 41-47.
Available at: https://ink.library.smu.edu.sg/soa_research/1787
Copyright Owner and License
Publisher
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.14738/abr.611.5566