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Proceedings of the International Conference on Business and Management Research (ICBMR 2020)
Previous studies show that bankruptcy announcements have a significant effect towards competitor's stock return around the bankruptcy announcement date. This study tries to fill the gap to investigate whether prior to bankruptcy, distressed firms already have significant effect on other players in the same industry. Thus, this research aims to examine the effect of industry distress level towards competitor's annual stock return in the same industry. This study uses Altman Z Score to measuredoi:10.2991/aebmr.k.201222.019 fatcat:bvzdyniuqjfq5e2wjbekwbizz4