Refining understanding of corporate failure through a topological data analysis mapping of Altman’s Z-score model

•Introduce Topological Data Analysis Ball Mapper for examining creditworthiness.•Example taken from seminal Altman (1968) Z-Score model and ratios therefrom.•Failing firms shown to only occupy a subset of the “distress zone” of risky Z-Scores.•Visualizing data cloud removes the perceived “black box”...

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