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Performance of Kuwait Stock Exchange using Altman Z score model

Performance of Kuwait Stock Exchange using Altman Z score model

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A quantitative method was used to explore the financial performance of the listed firms on the Kuwait Stock Exchange. The number of firms explored was 196 out of a possible 206 (two firms are subsidiaries of one of the firm, and others are insurance firms excluded from this study). The financial data were gathered from the published annual reports of the respective firms and the financial statements from the Kuwait Stock Exchange website. The financially secure sectors, which are good for investment, are petroleum and consumer goods (i.e., food, slaughterhouses, banks, and parallel markets). The worst performers that continue to operate despite the losses are real estate, telecommunications, and investment firms. This study provides insight into the financial distress level in Kuwait. The level of distress shows that major changes are necessary within firms and operations are not running smooth. Bankruptcy laws are required for firms operating in distress. This exploration is a stepping-stone for potential investors by showing the most profitable sectors for investment and for future researchers to predict accurate bankruptcy rates in the State of Kuwait.