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

Gross Profit Margin (GPM)

−0.025

0.975

−0.029

0.971

−0.020

0.980

−0.027

0.974

Return on Assets (ROA)

−0.057

0.945

−0.052

0.950

−0.054

0.948

−0.064

0.938

Return on Equity Before Tax (ROE)

−0.438

0.647

−0.346

0.707

−0.427

0.652

−0.542

0.582

Debt Ratio (DR)

−1.023

0.373

−1.143

0.319

−1.262

0.283

−0.663

0.516

Constant

1.947

7.061

2.106

8.216

1.929

6.884

1.805

6.083