Cheng, K. F.; Chu, C. K.; Hwang, Ruey-Ching - In: Quantitative Finance 10 (2010) 9, pp. 1055-1066
The usual bankruptcy prediction models are based on single-period data from firms. These models ignore the fact that the characteristics of firms change through time, and thus they may suffer from a loss of predictive power. In recent years, a discrete-time parametric hazard model has been...