{"id":{"repo_id":"cape-town","oai_identifier":"oai:open.uct.ac.za:11427/8561"},"canonical_url":"https://search.dev.ndltd.org/etd/cape-town/oai:open.uct.ac.za:11427/8561","repository":{"repo_id":"cape-town","name":"University of Cape Town","base_url":"https://open.uct.ac.za/oai/request"},"display":{"title":"Predicting corporate failure: an application of Altman's Z-score and Altman's EMS models to the JSE Alternative Exchange from 2008 to 2012","abstract":"The JSE Alternative Exchange (Alt-X) experienced a dramatic decline in equity values from 2008 to 2009 as part of the global economic crisis of approximately 60, and has subsequently experienced a decline of a further 50 from 2009 to 2012. By way of comparison, the JSE Main Board declined approximately 33 in 2008 and 2009, and has subsequently experienced a 100 increase in equity values from 2009 to 2012. The extent of the decline in equity values of companies listed on the Alt-X has raised the issue as to whether companies listed on the Alt-X have a higher likelihood of corporate failure. This study applies the Altman Z-Score and the Altman Z'EM score in order to identify trends in corporate solvency of Alt-X listed companies. Thereafter bond equivalent ratios are calculated for further analysis.","abstract_html":"The JSE Alternative Exchange (Alt-X) experienced a dramatic decline in equity values from 2008 to 2009 as part of the global economic crisis of approximately 60, and has subsequently experienced a decline of a further 50 from 2009 to 2012. By way of comparison, the JSE Main Board declined approximately 33 in 2008 and 2009, and has subsequently experienced a 100 increase in equity values from 2009 to 2012. The extent of the decline in equity values of companies listed on the Alt-X has raised the issue as to whether companies listed on the Alt-X have a higher likelihood of corporate failure. This study applies the Altman Z-Score and the Altman Z'EM score in order to identify trends in corporate solvency of Alt-X listed companies. Thereafter bond equivalent ratios are calculated for further analysis.","abstract_has_math":false,"creators":["Coelho, Myles"],"institution":"Department of Finance and Tax","degree_name":null,"degree_level":null,"degree_discipline":null,"degree_department":null,"school":null,"contributors":[],"advisors":["West, Darron","Correia, Carlos"],"committee_chairs":[],"committee_members":[],"year":2014,"date_issued":"2014","date_published":"2014","updated_at":"2026-07-22T22:23:45Z","subjects":[],"languages":["eng"],"rights":[],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"http://hdl.handle.net/11427/8561","outbound_label":"Handle","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor.advisor","label":"Advisor","values":["West, Darron","Correia, Carlos"]},{"key":"dc:creator","label":"Author","values":["Coelho, Myles"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.accessioned","label":"Dc Date Accessioned","values":["2014-10-17T10:12:52Z"]},{"key":"dc:date.available","label":"Dc Date Available","values":["2014-10-17T10:12:52Z"]},{"key":"dc:date.issued","label":"Date","values":["2014"]},{"key":"dc:publisher.department","label":"Dc Publisher Department","values":["Department of Finance and Tax"]},{"key":"dc:publisher.institution","label":"Dc Publisher Institution","values":["University of Cape Town"]},{"key":"dc:type","label":"Dc Type","values":["Master Thesis"]},{"key":"dc:type.qualificationlevel","label":"Dc Type Qualificationlevel","values":["Masters"]},{"key":"dc:type.qualificationname","label":"Dc Type Qualificationname","values":["MCom"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language.iso","label":"Language (ISO)","values":["eng"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.uri","label":"Identifier URI","values":["http://hdl.handle.net/11427/8561"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["Includes bibliographical references."]},{"key":"dc:description.abstract","label":"Abstract","values":["The JSE Alternative Exchange (Alt-X) experienced a dramatic decline in equity values from 2008 to 2009 as part of the global economic crisis of approximately 60, and has subsequently experienced a decline of a further 50 from 2009 to 2012. By way of comparison, the JSE Main Board declined approximately 33 in 2008 and 2009, and has subsequently experienced a 100 increase in equity values from 2009 to 2012. The extent of the decline in equity values of companies listed on the Alt-X has raised the issue as to whether companies listed on the Alt-X have a higher likelihood of corporate failure. This study applies the Altman Z-Score and the Altman Z'EM score in order to identify trends in corporate solvency of Alt-X listed companies. Thereafter bond equivalent ratios are calculated for further analysis."]},{"key":"dc:title","label":"Title","values":["Predicting corporate failure: an application of Altman's Z-score and Altman's EMS models to the JSE Alternative Exchange from 2008 to 2012"]}]}],"canonical_facts":{"dc:contributor.advisor":["West, Darron","Correia, Carlos"],"dc:creator":["Coelho, Myles"],"dc:date.accessioned":["2014-10-17T10:12:52Z"],"dc:date.available":["2014-10-17T10:12:52Z"],"dc:date.issued":["2014"],"dc:description":["Includes bibliographical references."],"dc:description.abstract":["The JSE Alternative Exchange (Alt-X) experienced a dramatic decline in equity values from 2008 to 2009 as part of the global economic crisis of approximately 60, and has subsequently experienced a decline of a further 50 from 2009 to 2012. By way of comparison, the JSE Main Board declined approximately 33 in 2008 and 2009, and has subsequently experienced a 100 increase in equity values from 2009 to 2012. The extent of the decline in equity values of companies listed on the Alt-X has raised the issue as to whether companies listed on the Alt-X have a higher likelihood of corporate failure. This study applies the Altman Z-Score and the Altman Z'EM score in order to identify trends in corporate solvency of Alt-X listed companies. Thereafter bond equivalent ratios are calculated for further analysis."],"dc:identifier.uri":["http://hdl.handle.net/11427/8561"],"dc:language.iso":["eng"],"dc:publisher.department":["Department of Finance and Tax"],"dc:publisher.institution":["University of Cape Town"],"dc:title":["Predicting corporate failure: an application of Altman's Z-score and Altman's EMS models to the JSE Alternative Exchange from 2008 to 2012"],"dc:type":["Master Thesis"],"dc:type.qualificationlevel":["Masters"],"dc:type.qualificationname":["MCom"]},"updated_at":"2026-07-22T22:23:45Z"}