Table 2 Altman's model analysis for...

Table 2

Altman's model analysis for sample selection companies

Year	X₁	X₂	X₃	X₄	X₅	Z-score
Beit Jala pharmaceutical company
2013	−0.223621683	0.530133199	0.267739077	0.028660689	0.221777508	1.59413556
2014	−0.193238864	0.58204936	0.242464437	0.012188384	0.241066379	1.62908386
2015	−0.734924828	0.625769569	0.22232329	0.018874972	0.206158086	0.60187318
2016	−0.746336889	0.67203389	0.218066685	0.035781609	0.187652312	0.63392439
2017	−0.111134272	0.503042398	0.154824056	0.007913182	0.124441269	0.45668889
Dar Al-Shifa pharmaceutical company
2013	0.165417282	0.071732634	0.04330554	0.019085546	0.425746345	0.87477492
2014	0.111087042	0.076086166	0.027517887	1.787712042	0.409731645	1.80889566
2015	0.172840581	0.09261703	0.044496233	0.01589215	0.40722423	0.21083895
2016	0.226366613	0.095052781	0.013012998	0.009777569	0.406550281	0.21679268
2017	0.111376277	0.027574053	0.010284123	0.008397791	0.303381144	0.12668904
Birzeit pharmaceutical company
2013	0.440984988	0.147106903	0.071696382	0.071167853	0.387991664	1.39854217
2014	0.425974615	0.150489554	0.067458202	0.043478221	0.357466156	1.32444541
2015	0.481557269	0.169875619	0.086604871	0.884551376	0.383016117	0.45511734
2016	0.529014376	0.188108405	0.109472274	0.088214772	0.437361882	0.42121734
2017	0.555139717	0.262767162	0.145054375	0.102272863	0.408978971	0.57164285
Jerusalem cigarette company
2013	−0.121087514	0.017610688	0.015946604	0.046068866	1.911446797	1.85194739
2014	−0.106024104	−0.098263383	0.065491088	0.020818269	1.213300337	1.16498122
2015	0.024876639	0.047717161	0.002342689	0.744604488	0.974271834	1.8944373
2016	0.022680081	0.033712255	−0.009034661	0.014554146	0.913337643	1.10214686
2017	0.035703827	0.034773308	0.010050396	0.012399056	0.986195662	0.97262607
Al-Quds pharmaceuticals company
2013	0.36994368	0.110017213	0.042966063	0.025251664	0.446015579	1.19645094
2014	0.351222758	0.116691988	0.034283865	0.037640525	0.491476616	1.20711901
2015	0.388240231	0.136365064	0.04545887	0.035936418	0.560382814	0.41142963
2016	0.42681708	0.157513297	0.060978043	0.04808299	0.539947911	0.43756062
2017	0.461533218	0.205669691	0.101673838	0.177044953	0.57044893	0.53788604
Palestine plastic industries company
2013	0.134883025	−1.54691675	0.181467211	0.006775338	3.471967352	2.03633086
2014	0.064129796	0.198654589	0.18328566	0.005835215	0.333631976	1.29371164
2015	−0.042465783	4.096688801	−0.621924612	0.010239675	0.096218902	−6.1216851
2016	0.185757879	−5.368978845	−0.178824802	1.15277E-05	0.031715945	−1.0768542
2017	−0.128404435	−0.245613236	−0.04472513	0.001755435	0.058006619	−0.9673332
The national carton industry company
2013	0.46764439	0.081993702	0.101681543	0.177667346	0.883994461	1.99326847
2014	0.441300057	0.081089291	0.076757011	0.148048876	1.019138767	1.99415992
2015	0.442667856	0.0806053	0.084506475	0.058769262	0.992358849	1.10989412
2016	0.417016672	0.062551596	0.056594385	0.063021876	0.937179307	1.15789184
2017	0.492748395	0.036280369	0.028673916	0.03234973	0.74552684	0.96520272
Vegetable oil industries company
2013	−0.223621683	0.530133199	0.267739077	0.028660689	0.221777508	1.59413556
2014	−0.193238864	0.58204936	0.242464437	0.012188384	0.241066379	1.62908386
2015	−0.734924828	0.625769569	0.22232329	0.018874972	0.206158086	0.60187318
2016	−0.746336889	0.67203389	0.218066685	0.035781609	0.187652312	0.63392439
2017	−0.111134272	0.503042398	0.154824056	0.007913182	0.124441269	0.45668889
Arabia for the manufacture of paints
2013	0.494152138	0.212265516	0.18089327	0.038162745	0.836646877	2.33828013
2014	0.501357695	0.204267243	0.137293572	0.001454324	0.94831918	2.28038074
2015	0.522018796	0.250687853	0.215810518	0.164659611	1.065661609	1.24807408
2016	0.536799871	0.276347671	0.228803473	0.001841201	0.955751836	1.26335124
2017	0.590690972	0.318030575	0.200765398	0.00113933	0.873591584	1.36254609
Golden wheat mills
2013	0.333019201	0.015929249	0.01333983	5.722877094	0.451417422	4.346575
2014	0.359700628	0.024104638	0.01172938	0.015654175	0.551836452	1.059805
2015	0.246206355	−0.053272704	−0.05958451	0.017825583	0.311900286	0.323159
2016	0.254417863	0.050838652	0.00266147	0.013627843	0.546507977	0.394567
2017	0.319236822	0.012979851	0.07315235	0.105962824	0.483963075	0.226385
Al Sharq electronics
2013	0.30115317	0.026988755	0.034022424	0.00957074	0.404428244	0.91756847
2014	0.315138636	0.025138131	0.034127121	0.015060815	0.353524575	0.88500506
2015	0.320312078	0.00398947	0.033662664	0.01964377	0.288762942	0.21468785
2016	0.295052431	0.006003724	0.033253877	0.027079178	0.384561594	0.23062801
2017	0.292588647	0.018200578	0.023791508	0.014797748	0.291507837	0.17906052
National aluminium and profiles industry (NAPCO)
2013	0.022169689	0.028273138	0.036714	0.0025096	0.695906505	0.877797
2014	0.050796387	0.057716844	0.034299	0.0071801	0.668113842	0.920685
2015	0.126076256	0.044752405	0.003143	0.0009861	0.634569233	0.445779
2016	0.038768495	0.058012537	0.01402	0.0012477	0.647230814	0.438231
2017	0.138968403	0.072060394	0.019112	0.0001475	0.690653033	0.459073

Year	X₁	X₂	X₃	X₄	X₅	Z-score
Beit Jala pharmaceutical company
2013	−0.223621683	0.530133199	0.267739077	0.028660689	0.221777508	1.59413556
2014	−0.193238864	0.58204936	0.242464437	0.012188384	0.241066379	1.62908386
2015	−0.734924828	0.625769569	0.22232329	0.018874972	0.206158086	0.60187318
2016	−0.746336889	0.67203389	0.218066685	0.035781609	0.187652312	0.63392439
2017	−0.111134272	0.503042398	0.154824056	0.007913182	0.124441269	0.45668889
Dar Al-Shifa pharmaceutical company
2013	0.165417282	0.071732634	0.04330554	0.019085546	0.425746345	0.87477492
2014	0.111087042	0.076086166	0.027517887	1.787712042	0.409731645	1.80889566
2015	0.172840581	0.09261703	0.044496233	0.01589215	0.40722423	0.21083895
2016	0.226366613	0.095052781	0.013012998	0.009777569	0.406550281	0.21679268
2017	0.111376277	0.027574053	0.010284123	0.008397791	0.303381144	0.12668904
Birzeit pharmaceutical company
2013	0.440984988	0.147106903	0.071696382	0.071167853	0.387991664	1.39854217
2014	0.425974615	0.150489554	0.067458202	0.043478221	0.357466156	1.32444541
2015	0.481557269	0.169875619	0.086604871	0.884551376	0.383016117	0.45511734
2016	0.529014376	0.188108405	0.109472274	0.088214772	0.437361882	0.42121734
2017	0.555139717	0.262767162	0.145054375	0.102272863	0.408978971	0.57164285
Jerusalem cigarette company
2013	−0.121087514	0.017610688	0.015946604	0.046068866	1.911446797	1.85194739
2014	−0.106024104	−0.098263383	0.065491088	0.020818269	1.213300337	1.16498122
2015	0.024876639	0.047717161	0.002342689	0.744604488	0.974271834	1.8944373
2016	0.022680081	0.033712255	−0.009034661	0.014554146	0.913337643	1.10214686
2017	0.035703827	0.034773308	0.010050396	0.012399056	0.986195662	0.97262607
Al-Quds pharmaceuticals company
2013	0.36994368	0.110017213	0.042966063	0.025251664	0.446015579	1.19645094
2014	0.351222758	0.116691988	0.034283865	0.037640525	0.491476616	1.20711901
2015	0.388240231	0.136365064	0.04545887	0.035936418	0.560382814	0.41142963
2016	0.42681708	0.157513297	0.060978043	0.04808299	0.539947911	0.43756062
2017	0.461533218	0.205669691	0.101673838	0.177044953	0.57044893	0.53788604
Palestine plastic industries company
2013	0.134883025	−1.54691675	0.181467211	0.006775338	3.471967352	2.03633086
2014	0.064129796	0.198654589	0.18328566	0.005835215	0.333631976	1.29371164
2015	−0.042465783	4.096688801	−0.621924612	0.010239675	0.096218902	−6.1216851
2016	0.185757879	−5.368978845	−0.178824802	1.15277E-05	0.031715945	−1.0768542
2017	−0.128404435	−0.245613236	−0.04472513	0.001755435	0.058006619	−0.9673332
The national carton industry company
2013	0.46764439	0.081993702	0.101681543	0.177667346	0.883994461	1.99326847
2014	0.441300057	0.081089291	0.076757011	0.148048876	1.019138767	1.99415992
2015	0.442667856	0.0806053	0.084506475	0.058769262	0.992358849	1.10989412
2016	0.417016672	0.062551596	0.056594385	0.063021876	0.937179307	1.15789184
2017	0.492748395	0.036280369	0.028673916	0.03234973	0.74552684	0.96520272
Vegetable oil industries company
2013	−0.223621683	0.530133199	0.267739077	0.028660689	0.221777508	1.59413556
2014	−0.193238864	0.58204936	0.242464437	0.012188384	0.241066379	1.62908386
2015	−0.734924828	0.625769569	0.22232329	0.018874972	0.206158086	0.60187318
2016	−0.746336889	0.67203389	0.218066685	0.035781609	0.187652312	0.63392439
2017	−0.111134272	0.503042398	0.154824056	0.007913182	0.124441269	0.45668889
Arabia for the manufacture of paints
2013	0.494152138	0.212265516	0.18089327	0.038162745	0.836646877	2.33828013
2014	0.501357695	0.204267243	0.137293572	0.001454324	0.94831918	2.28038074
2015	0.522018796	0.250687853	0.215810518	0.164659611	1.065661609	1.24807408
2016	0.536799871	0.276347671	0.228803473	0.001841201	0.955751836	1.26335124
2017	0.590690972	0.318030575	0.200765398	0.00113933	0.873591584	1.36254609
Golden wheat mills
2013	0.333019201	0.015929249	0.01333983	5.722877094	0.451417422	4.346575
2014	0.359700628	0.024104638	0.01172938	0.015654175	0.551836452	1.059805
2015	0.246206355	−0.053272704	−0.05958451	0.017825583	0.311900286	0.323159
2016	0.254417863	0.050838652	0.00266147	0.013627843	0.546507977	0.394567
2017	0.319236822	0.012979851	0.07315235	0.105962824	0.483963075	0.226385
Al Sharq electronics
2013	0.30115317	0.026988755	0.034022424	0.00957074	0.404428244	0.91756847
2014	0.315138636	0.025138131	0.034127121	0.015060815	0.353524575	0.88500506
2015	0.320312078	0.00398947	0.033662664	0.01964377	0.288762942	0.21468785
2016	0.295052431	0.006003724	0.033253877	0.027079178	0.384561594	0.23062801
2017	0.292588647	0.018200578	0.023791508	0.014797748	0.291507837	0.17906052
National aluminium and profiles industry (NAPCO)
2013	0.022169689	0.028273138	0.036714	0.0025096	0.695906505	0.877797
2014	0.050796387	0.057716844	0.034299	0.0071801	0.668113842	0.920685
2015	0.126076256	0.044752405	0.003143	0.0009861	0.634569233	0.445779
2016	0.038768495	0.058012537	0.01402	0.0012477	0.647230814	0.438231
2017	0.138968403	0.072060394	0.019112	0.0001475	0.690653033	0.459073

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