A considerable body of research aims to discriminate between companies with the potential to stem decline, or recover from extremis, from those which will ultimately fail. The literature spans a number of academic disciplines and embraces theorising, case studies and anecdote. Even so much...

A number of authors have noted that industrial sector is a significant factor in the design and construction of failure prediction models, suggesting that organisational structures dictate the construction of separate models for different sectors. However, most modellers have been content to...

A number of authors have suggested that macroeconomic factors impact significantly on the incidence of financial distress, and subsequently on corporate failure. However, macroeconomic factors rarely, if ever, appear as variables in predictive models seeking to identify distress and failure; the...