González-Aguado, Carlos; Moral-Benito, Enrique - In: Applied Economics Letters 20 (2013) 6, pp. 511-514
In this article, we aim to identify the main determinants of corporate default by considering Bayesian Model Averaging (BMA) techniques. Our empirical findings suggest that the most robust determinants of firm default are firm-specific variables such as the ratio of working capital to total...