The study analyses the bankruptcy of newly formed Japanese small and medium-sized entities (SMEs) by comparing specific features with newly formed but survived SMEs. It applies Resource-based Firm Theory and other theories to identify the bankruptcy features and uses logit regression to validate...

This paper investigates how the process of going bankrupt can be recognized much earlier by enterprises than by traditional forecasting models. The presented studies focus on the assessment of credit risk classes and on determination of the differences in risk class migrations between...