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Edward I. Altman (born 1941) is a Professor of Finance at New York University`s Stern School of Business. He teaches for the TRIUM Global Executive MBA Program, an alliance of NYU Stern, the London School of Economics and HEC School of Management.^[1] Professor Altman also teaches for both the Master of Science in Global Finance (MSGF) and Executive Master of Science in Risk Management (EMSRM) Programs. MSGF is jointly offered by NYU Stern and the Hong Kong University of Science and Technology.^[2] EMSRM is offered by NYU Stern, in partnership with the Amsterdam Institute of Finance.^[3]

Altman is known for the development of the Z-Score formula, which he published in 1968. The Z-Score for Predicting Bankruptcy is a multivariate formula for a measurement of the financial health of a company and a powerful diagnostic tool that forecasts the probability of a company entering bankruptcy within a 2 year period. Studies measuring the effectiveness of the Z-Score have shown that the model has a 70%-80% reliability.

Altman's equation did a good job at distinguishing bankrupt and non-bankrupt firms. Of the former, 94% had Z scores less than 2.7 before they went bankrupt. In contrast, 97% of the non-bankrupt firms had Z scores above this level.

Edward is the brother of Stuart Altman.

[edit] Books

Dr. Altman is the author, co-author, or editor of 25 books, including:

• Altman, Edward (2008). Managing Credit Risk, 2nd Edition. John Wiley and Sons. ISBN 0470118725. 
• Altman, Edward; Edith Hotchkiss (2005). Corporate Financial Distress and Bankruptcy, 3rd edition. John Wiley and Sons. ISBN 0471552534. 
• Altman, Edward (2005). Recovery Risk. ISBN 1904339506. 
• Altman, Edward (2002). Bankruptcy, Credit Risk and High Yield ‘Junk’ Bonds: A Compendium of Writings. Oxford, England and Malden, Massachusetts: Blackwell Publishing. ISBN 06312256233. 

[edit] References

[edit] External links

• Homepage
• DefaultRisk.com Profile
• TRIUM Global Executive MBA Program
• Master of Science in Global Finance
• Executive Master of Science in Risk Management