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October 23, 2025International Journal of Accounting & Finance in Asia PasificOpen Access

Evaluating the Effectiveness of Financial Distress Prediction Models in the Property and Real Estate Sector

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Authors

CSChandra SetiawanFGFebriana Valentina Gultom

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Overview

Quantitative analysis reveals the Zmijewski X-Score predicts financial distress effectively for real estate firms, highlighting economic stability's role in bankruptcy prevention.

Key Points

  • Significant differences exist in financial distress model accuracy, with the Zmijewski X-Score achieving 79%.
  • A quantitative approach compared four models using data from 30 IDX-listed firms with 150 observations over four years.
  • The study employs logistic regression to determine model effectiveness under volatile market conditions.
  • Results emphasize the importance of suitable models for policymakers to enhance bankruptcy prevention and economic stability.

Cite This Study

Setiawan et al. (2025) studied this question.

synapsesocial.com/papers/68f9a0eb8ea8f2f37ee94cb8https://doi.org/10.32535/ijafap.v8i3.4132
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