The aim of the paper is to measure indirect costs generated by financial distress, as a consequence of filing for a bankruptcy procedure, by implementing a model suitable for Italian small and medium size entities (SMEs).There are only few papers that provide evidence of the indirect costs of...

This study examines the relationship between financial distress and earnings management practices in a family-owned economic context, such as Italy, focusing on non-publicly listed small and medium sized entities (SMEs). Analysing five years prior to bankruptcy, we document that private SMEs...

The aim of the paper is to analyze the main goals of bankruptcy procedures and the different facets of their efficiency, which can be investigated according to an ex post or ex ante perspective.Unlike previous literature, which has mainly hypothesized a contrast between these two viewpoints, in...

The purpose of this paper is to analyze the effect of a joint audit system on the quality of a firm's financial statements, investigating the association between the presence of a double auditor and the occurrence of small positive earnings, which can be considered the consequence of earnings...