Maier, Florian; Yurtoglu, B. Burcin - In: Journal of risk and financial management : JRFM 15 (2022) 7, pp. 1-19
How do board characteristics influence the risk of bankruptcy? We study this question by estimating classic Z-Score models using panel data comprising 2519 listed non-financial firms from 29 European countries over the 2012-2020 period. We found that board independence is associated with lower...