Economic theory conjectures complementarities between the ranking of creditors in formal insolvency proceedings and the use of collateral in bank loan contracts as well as the exist-ence of relational compared to arm's length lending. In this paper we seek evidence for the-se hypotheses taking...

The determinants of corporate failure in Italian, Spanish and French small and medium-sized enterprises are investigated in order to find out whether the predictors of financial distress in the countries are the same or not. In order to compare the determinants of financial distress,...