Empirical models for the monitoring of UK corporations

This paper has four main aims. Firstly it attempts a critical appraisal of extant UK Z-score models and seeks to assess in each case their operational utility. Next two previously unpublished models are described which address respectively (i) the need for separate models for manufacturing and distribution companies, and (ii) the utility of the jackknife discriminant approach in practice. Then developments of the technique to enhance considerably its utility to the practitioner are described. Finally a brief review of how such approaches are currently being used in the UK and by whom is provided.