The application of the Z-Score index in predicting the bankruptcy risks of listed food manufacturers

Besides the prediction of bankruptcy risk, many studies have proven that the Z-Score index is an effective tool to detect financial statement frauds. However, this tool has not been widely applied to detect fraud in financial statements in Vietnam. In this study, the Z-Score index was used to predict the bankruptcy risk of food manufacturing companies based on the Hanoi Stock Exchange and Ho Chi Minh City Stock Exchange in order to draw conclusions about the accuracy of the Z-Score index in predicting the bankruptcy risk of enterprises. Based on the study’s findings, some directions, recommendations, and solutions were proposed to prevent mistakes in the financial decisions of stakeholders.