Development and testing of an augmented distress prediction model: A comparative study on a developed and an emerging market
This study presents a financial distress (FD) prediction model that utilizes accounting, market-
based, and financial reporting quality (FRQ) measures. We use a panel logit framework to
analyze data for developed market firms from the UK and emerging market firms from
Pakistan during the period 2001-2015. Obscured portions of financial reports, such as that
created by management tactics employing income smoothing, can be measured with FRQ
proxies. Our results find that such FRQ measures have significant influence on the accuracy …
based, and financial reporting quality (FRQ) measures. We use a panel logit framework to
analyze data for developed market firms from the UK and emerging market firms from
Pakistan during the period 2001-2015. Obscured portions of financial reports, such as that
created by management tactics employing income smoothing, can be measured with FRQ
proxies. Our results find that such FRQ measures have significant influence on the accuracy …
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