Bank insolvency risk and time-varying Z-score measures

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Should we trust the Z-score? Evidence from the European Banking Industry (2015, methodology): “Finally, Lepetit and Strobel (2013) compare different existing approaches to the construction of Z-scoremeasures, using a panel of banks for the G20 group of countries covering the period 1992–2009.”
Bank Insolvency Risk and Z-Score Measures: A Refinement (2015, unknown): “…than the improved measure given in Proposition 1; the difference between the traditional and improved measures D (Z) has a maximum value of 0.5 at Z = 1, with limZ→∞D (Z) = limZ→0D (Z) = 0. being widely used in cross-sectional, but increasingly also in panel studies (see Lepetit and Strobel 2013).”
Is There a Competition-Stability Trade-Off in European Banking? (2017, unknown): “See Lepetit and Strobel (2013) for a review of different methodologies to compute the Z-score.”
Banking stability determinants in Africa (2018, unknown): “A high Z-score would indicate that the banks are more stable, because it is inversely related to the probability of bank insolvency, in other words, a high z-score implies lower insolvency risk or improved banking stability (Lepetit and Strobel, 2013).”