Using data over a thirty-four year span on UK quoted firms, this paper seeks to identify the factors that increase the likelihood of exit of firms. Firms may disappear through the mutually precluding events of bankruptcies and acquisitions. We use a competing-risks hazard model to determine...

The phenomenon of enterprises bankruptcy is an extremely complex process of economic, legal, social and even psychological nature. In the developed countries, the first studies on forecasting bankruptcy date to the early 20th century. In Central and Eastern Europe, due to, among other factors,...