STATUS | Median ratio and change: | Z-test§ | p-value | ||
Active firms | Bankrupt firms | All firms | |||
Return on investment ratio (ROI) | 0.069 | −0.153 | 0.068 | −11.416 | 0.0000 |
Change in ROI | −0.055 | −0.295 | −0.056 | −7.837 | 0.0000 |
Profit margin ratio (PRM) | 0.048 | −0.099 | 0.048 | −11.409 | 0.0000 |
Change in PRM | −0.022 | −0.134 | −0.023 | −7.849 | 0.0000 |
Capital turnover ratio (CTR) | 1.453 | 1.810 | 1.454 | −1.601 | 0.1090 |
Change in CTR | −0.161 | −0.360 | −0.162 | −1.166 | 0.2430 |
Traditional cash flow ratio (TCF) | 0.071 | −0.106 | 0.070 | −11.930 | 0.0000 |
Change in TCF | −0.016 | −0.156 | −0.016 | −8.915 | 0.0000 |
Current ratio (CRA) | 1.762 | 0.760 | 1.749 | −9.798 | 0.0000 |
Change in CRA | 0.144 | −0.433 | 0.138 | −6.247 | 0.0000 |
Debt to assets ratio (DAR) | 0.505 | 1.290 | 0.509 | −12.785 | 0.0000 |
Change in DAR | −0.042 | 0.533 | −0.040 | −11.532 | 0.0000 |
Cash flow to debt ratio (CFD) | 0.204 | −0.114 | 0.201 | −12.269 | 0.0000 |
Change in CFD | −0.046 | −0.278 | −0.047 | −5.917 | 0.0000 |