earticle

영어

This study aims to analyze the financial soundness of 15 listed international e-sport firms from 2021 to 2023 using three failure prediction models: the Altman revised Z score model, the Springate model, and the Zmijewski model. The results are summarized as follows. First, this study's findings show that most firms are in financial distress over the sample period. Second, the Altman revised Z score model classified results 4 out of the 15 e-sport firms as financially healthy for the entire period. Second, Springate and Zmijewski’s models classified 1 out of the 15 esports firms as financially sound for the entire period. In conclusion, Springate and Zmijewski’s models predicted more e-sport firms as likely to go bankrupt than the Altman Z score model. This result is expected to be useful for investors and lenders in their investment decision-making process regarding e-sport firms.