Years Before the Financial Failure Date

Average Values

One Year

Two Year

Three Year

β

Odds Ratio

β

Odds Ratio

β

Odds Ratio

β

Odds Ratio

Fixed Assets to Equity (FAE)

1.416

4.244

1.698

5.461

1.451

4.268

1.099

3.002

Return on Equity Before Tax (ROE)

−4.190

0.015

−4.036

0.018

−4.279

0.014

−4.256

0.014

Capital Turnover (CT)

−0.053

0.949

−0.061

0.941

−0.062

0.940

−0.035

0.965

Constant

−0.506

0.606

−0.519

0.595

−0.632

0.532

−0.368

0.692