This paper aims to compare the usefulness of tax arrears and financial ratios in bankruptcy prediction. The analysis is based on the whole population of Estonian bankrupted and survived SMEs from 2013 to 2017. Logistic regression and multilayer perceptron are used as the prediction methods. The...

This study aims to determine how payment disturbances in managers' earlier entrepreneurial practices (PDMs) predict corporate default. Classical financial ratios have often failed to predict the default of micro-, small- and medium-sized firms with high accuracy, and therefore, the extant...

Purpose: This paper aims to study how firms’ export behavior is associated with their corporate governance. Design/methodology/approach: This study uses whole population data of Estonian small and medium-sized enterprises: 9,530 exporters and 73,619 non-exporters. Several theory-driven...

Purpose: The purpose of this paper is to explore the linkages between the appointment of a new management board member and the following strategic change (SC) in the product-market scope of the firm. Design/methodology/approach: The study is based on the whole population of Estonian firms, in...

The aim of this study was to investigate whether firms' reporting delays are interconnected with bankruptcy risk and its financial determinants. This study was based on 698,189 firm-year observations from Estonia. Annual report submission delay, either in a binary or ordinal form, was used as...

This paper aims to compare the accuracy of financial ratios, tax arrears and annual report submission delays for the prediction of bank loan defaults. To achieve this, 12 variables from these three domains are used, while the study applies a longitudinal whole-population dataset from an Estonian...

This paper aims to study the usefulness of applying tax arrears in failure prediction, when annual reports to calculate financial ratios are outdated. Three known classification methods from the failure prediction literature are applied to the whole population dataset from Estonia, incorporating...

Managers are, by law, responsible for the timely disclosure of financial information through annual reports, but despite that, it is usual that they are engaged in the unethical behaviour of not meeting the submission deadlines set in law. This paper sheds light on the afore-given issue by...

This study aimed to find out how academic assets are interconnected with firm creation by academic staff at different academic life-cycle stages. The applied theoretical setting integrated resource-based and life-cycle explanations of academic entrepreneurship. A longitudinal whole population...