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所在平台: Udemy |
课程主页: https://www.udemy.com/course/altman-z-score-measuring-company-strength-and-risk/
课程评论：没有评论
课程名称：公司财务强度与风险测量：阿特曼Z-score 概述：阿特曼Z-score课程全面探索了预测企业破产和评估财务强度的重大模型之一。该模型由爱德华·阿特曼教授于1968年开发，至今仍是全球投资者、分析师和金融专业人士的基石工具。参与者将深入了解阿特曼Z-score的历史背景、理论基础和构建过程，掌握其为何在经历超过45年后依然主导失败预测模型的原因。课程强调关键财务比率的选择，多个判别分析（MDA）的应用，以及建立客观统计权重以高准确度预测财务困境。 通过对五个关键财务比率的深入分析——流动资金与总资产比率、留存收益与总资产比率、息税前利润与总资产比率、股本市场价值与总负债比率，以及销售额与总资产比率——学生将学习到这些因素如何共同影响公司的财务稳定性。课程将利用实际案例和现实世界的实例来说明这些比率的解释，为根据Z-score阈值将公司分为困境区、灰色区和安全区提供明确的指导。 此外，课程还讨论了： - 财务报表可信度与支持工具（如Beneish M-score）的关系。 - 阿特曼的研究发展演变为Z'-Score和Z''-Score，以适应更广泛的国际应用。 - 这些模型在适用于金融公司时的局限性。 课程结束时，学生将能够： - 准确计算和解释阿特曼Z-score。 - 利用Z-score支持投资决策和风险评估。 - 理解破产预测模型在各行业和地区的实际应用与局限。 此课程适合所有参与财务分析、投资管理或公司金融的人员，旨在用一种经过验证、统计上合理的方法增强他们的工具箱。
The Altman Z-score course offers a comprehensive exploration of one of the most influential and enduring models for predicting corporate bankruptcy and assessing financial strength. Developed by Professor Edward Altman in 1968, the Z-score model remains a cornerstone tool for investors, analysts, and financial professionals worldwide.Participants will delve into the historical background, rationale, and construction of the Altman Z-score, gaining insight into how and why it continues to dominate failure prediction models even after more than 45 years. The course emphasizes the selection of critical financial ratios, the application of Multiple Discriminant Analysis (MDA), and the establishment of objective statistical weights to predict financial distress with high accuracy.Through an in-depth breakdown of the five key financial ratios-working capital to total assets, retained earnings to total assets, EBIT to total assets, market value of equity to total liabilities, and sales to total assets-students will learn how each factor contributes to a company's financial stability. Practical examples and real-world case studies will be used to illustrate interpretation, providing clear guidelines for classifying companies into distress, grey, and safe zones based on Z-score thresholds.Additionally, the course discusses:The relationship between financial statement trustworthiness and supporting tools like the Beneish M-score.The evolution of Altman's work into the Z'-Score and Z''-Score for broader international applicability.The limitations of applying these models, particularly for financial companies.By the end of this course, students will be able to:Accurately calculate and interpret Altman Z-scores.Use Z-scores to support investment decisions and risk assessments.Understand the practical applications and limitations of bankruptcy prediction models in various industries and geographies.This course is essential for anyone engaged in financial analysis, investment management, or corporate finance who seeks to enhance their toolkit with a proven, statistically sound methodology.
