Could Textual Features Offer Incremental Information to Financial Distress Prediction? Evidence from the Listed Firm in China

Table 1

Definition of each indicator in the z-score model.

Code	Indicator	Measurement
X1	Capital accumulation	(Surplus reserve + undistributed profit)/total assets
X2	Liquidity	(Current assets − current liabilities)/total assets
X3	Ability to withstand market shocks	Owner’s equity/total liabilities
X4	Profitability	Operating profit/total assets
X5	Capital accumulation	Operating income/total assets