CHANG, BI-JUAN; CHANG, JOW-RAN; HUNG, MAO-WEI - In: Annals of Financial Economics (AFE) 09 (2014) 02, pp. 1440004-1
Distressed firms in equity markets are like landmines in the battlefields due to their undetectability and devastating effects. This paper is concerned with distressed firms forecasting by the distance-to-default (DTD) and rare event logit (REL) models via public available data. Comparing these...