Frino, Alex; Jones, Stewart; Wong, Jin Boon - In: Accounting and Finance 47 (2007) 4, pp. 713-730
The corporate distress literature to date has largely focused on the predictive power of accounting variables (Altman, 2001). Following previous literature, this study examines the relevance of abnormal stock returns in discriminating between failed and non-failed firms (e.g. Clark and...