http://www.bibleinterp.com/articles/persian.shtml
The conclusion:
Israel did not originate in the Persian period. The arguments used to sustain this position are not convincing and can be labeled myths. However, normative Judaism took shape during Achaemenid times. The study of the Persian period should focus on the traditions of the tribal past that the Yehudites preserved as their origins. Nevertheless, we should be aware of the ideological purposes of our traditions and the objectives of our own ideologies. Only then can we go beyond the myths surrounding the origins of Israel.