This paper focuses on one of the most determinant processes in business failure assessment: Variable selection. After a preselection of variables based on previous empirical literature, we perform a statistical variable selection on a sample of small firms using both mean and median differences....

This paper analyzes the effect of a firm's life cycle stages on capital structure in tech versus non-tech firms using a wide sample of public companies from Europe. An innovative approach based on operating, investing, and financing cash flows allows us to analyze differences in leverage and...