Studying the relationship between Japanese firms' corporate health and results
Japan 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 (the Tokyo Stock Exc...
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sg-smu-ink.soa_research-28522020-02-28T02:46:16Z Studying the relationship between Japanese firms' corporate health and results FOO, See Liang PATHAK, Shaakalya Japan 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 (the Tokyo Stock Exchange). 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. Japan registered moderate-to-strong mean and median Z-Scores. These findings further support the strong economic position of this market as an Asian giant. 2019-09-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/soa_research/1825 info:doi/10.14738/abr.79.7087 https://ink.library.smu.edu.sg/context/soa_research/article/2852/viewcontent/7087_1_10_20190928_pv.pdf http://creativecommons.org/licenses/by-sa/4.0/ Research Collection School Of Accountancy eng Institutional Knowledge at Singapore Management University Accounting Asian Studies Corporate Finance |
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Accounting Asian Studies Corporate Finance FOO, See Liang PATHAK, Shaakalya Studying the relationship between Japanese firms' corporate health and results |
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Japan 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 (the Tokyo Stock Exchange). 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. Japan registered moderate-to-strong mean and median Z-Scores. These findings further support the strong economic position of this market as an Asian giant. |
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text |
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FOO, See Liang PATHAK, Shaakalya |
author_facet |
FOO, See Liang PATHAK, Shaakalya |
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FOO, See Liang |
title |
Studying the relationship between Japanese firms' corporate health and results |
title_short |
Studying the relationship between Japanese firms' corporate health and results |
title_full |
Studying the relationship between Japanese firms' corporate health and results |
title_fullStr |
Studying the relationship between Japanese firms' corporate health and results |
title_full_unstemmed |
Studying the relationship between Japanese firms' corporate health and results |
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studying the relationship between japanese firms' corporate health and results |
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Institutional Knowledge at Singapore Management University |
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2019 |
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https://ink.library.smu.edu.sg/soa_research/1825 https://ink.library.smu.edu.sg/context/soa_research/article/2852/viewcontent/7087_1_10_20190928_pv.pdf |
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