An integrative analysis of business bankruptcy in Australia
This paper proposes an integrative and dynamic approach for analyzing business failure. The simultaneous estimation results obtained with Australian data indicate significant associations between bankruptcy rates in different industries. Most of these associations are positive and hence implying that bankruptcy in one industry can inflict a ‘domino’ effect on other industries. The estimated significant negative association between current and lagged bankruptcy rates in the industries under consideration lend support to the survival of the fittest hypothesis. The estimation results also highlight the important effects of industry, domestic and international economic conditions on bankruptcy rates. Copyright Springer 1998
Year of publication: |
1998
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Authors: | Cheung, Lillian ; Levy, Amnon |
Published in: |
Journal of Economics and Finance. - Springer, ISSN 1055-0925. - Vol. 22.1998, 2, p. 149-167
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Publisher: |
Springer |
Saved in:
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