Research Article
Dynamic Prediction of Financial Distress Based on Kalman Filtering
Table 1
Comprehensive signal indicators of financial distress prediction.
| | Type | Code | Signal indicators |
| | Profitability | Z
1 | Operating profit margin | | Z
2 | Net profit margin | | Z
3 | Return on assets | | Z
4 | Return on equity | | Z
5 | Operating profit margin growth | | Z
6 | Operating revenue growth | | Z
7 | Total assets growth |
| | Solvency | Z
8 | Current ratio | | Z
9 | Quick ratio | | Z
10 | Cash debt ratio | | Z
11 | Debt coverage ratio | | Z
12 | Interest coverage ratio | | Z
13 | Liabilities to assets ratio | | Z
14 | Liabilities to equity ratio |
| | Management efficiency | Z
15 | Total assets turnover | | Z
16 | Fixed asset turnover | | Z
17 | Current assets turnover | | Z
18 | Inventory turnover | | Z
19 | Accounts receivable turnover | | Z
20 | Cash ratio of main business | | Z
21 | Cash return on assets |
| | Market reaction | Z
22 | Earnings per share | | Z
23 | Net assets per share | | Z
24 | Operating revenue per share | | Z
25 | Capital reserve per share | | Z
26 | Retained earnings per share | | Z
27 | Price to book ratio | | Z
28 | Equity to invested capital ratio | | Z
29 | Net cash flow per share |
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