yes there is here is the link to help you in the assistance

PREDICTING FINANCIAL DISTRESS OF COMPANIES: …

pages.stern.nyu.edu/~ealtman/Zscores.pdf · PDF file

PREDICTING FINANCIAL DISTRESS ... Revisiting the Z -Score and ZETA ® Models Background This paper ... Reasons for Attemptin g to Construct a New Model There …

probably you have not undertstood me. I am looking for a paper focused specially on poor management such as a situation where a manager does not have enough knowledge about financial matters as Karels - Prakash (1987) state. I have already found Altman´s models using either discriminant analysis or another technique how to categorise a firm as a bankrupt or not bankrupt

Do take a look at my analysis of the profits-revenues graphs for various companies, based on what I call a generalization of ideas from quantum physics. The appearance of a maximum point on this graph is an indicator of a company in trouble, with GM being the most prominent example. It was operating past its maximum point ( in the region where profits decrease with increasing revenues) for several years before being forced into bankruptcy. There are examples as well, Air Tran, forced into a merger being another. Ford Motor Company also reveals this maximum point. The analysis can be found at www.scribd.com where several articles on this topic are posted. All the rest is just looking at the trees without seeing the forest! This is a quick response and if there is interest, will provide some details. BTW, I am NOT a finance or economics majors but, as I have stated, money in economics is just like energy in physics. If we accept this, a new theoretical model can be developed using mathematica l analogies.

thank you for suggestions. I know many models that use statistical methods or artificial intelligence applying financial ratios. These ratios are just symptoms of upcoming failure, bankruptcy or financial distress.

Hi Michal,

You might try the following:

KHANNA, N. and POULSEN, A. B. (1995), Managers of Financially Distressed Firms: Villains or Scapegoats?. The Journal of Finance, 50: 919–940. doi: 10.1111/j.1540-6261.1995.tb04042.x

Mohammad M. Rahaman, Do managerial behaviors trigger firm exit? The case of hyperactive bidders, The Quarterly Review of Economics and Finance, 2014, 54, 1, 92

J. Tyler Leverty, Martin F. Grace, dupes or incompetents? an examination of management's impact on firm distress, Journal of Risk and Insurance, 2012, 79, 3

Direct Link:

John C. Easterwood, Özgür Ş. İnce, Charu G. Raheja, The evolution of boards and CEOs following performance declines, Journal of Corporate Finance, 2012, 18, 4, 727

Zoltan Matolcsy, Yaowen Shan, Vinay Seethamraju, The timing of changes in CEO compensation from cash bonus to equity-based compensation: Determinants and performance consequences, Journal of Contemporary Accounting & Economics, 2012, 8, 2, 78

Yuk Ying Chang, Sudipto Dasgupta, Gilles Hilary, CEO Ability, Pay, and Firm Performance, Management Science, 2010, 56, 10, 1633

thank you very much. I will have a look.

Kierulff, Herb, and Henry L. Peterson. "Finance is everything: advice from turnaround managers." Journal of Business Strategy, 30(6) (2009), pp.44 – 51.

Thank you very much

Vulture Investors and the Market for Control of Distressed Firms: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1883

Read Corporate Collapse by John Argenti. His score includes some soft variablles which relate to management.. Argenti wrote this some time ago (1980s?) so I am not sure about availability. Although dated you may get some ideas..