researches of corporate bankruptcy prediction, laying emphasis on the 30-year development history of Hungarian empirical results …. In ex-socialist countries corporate bankruptcy prediction became possible more than 20 years later compared to the … western countries, however, based on the historical development of corporate bankruptcy prediction after the political system …

clearing house (bank) which monitors agents and enforces contracts. Our model develops a concept of bankruptcy equilibrium that … a version of the Capital Asset Pricing Model with bankruptcy. In this case we can characterize equilibrium prices and …