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