The rapid growth of China's financial technology has had a significant impact on businesses. The study of the relationship between macrofinancial technology and microbusinesses has important theoretical and practical implications. We empirically examined the relationship between FinTech,...

The 1997-1998 Asian financial crisis exposed serious deficiencies in the insolvency systems of many countries. In response, many governments have undertaken sweeping reforms to strengthen their insolvency systems and rebuild their economies, including promulgating new laws, introducing new...

The insurance sector plays a growing role in national economies. This reinforces the importance of the solvency of insurance companies. Yet how can we stay informed about the rules and practices related to the supervision of the financial health of these insurance companies in OECD countries?...

This paper develops a debt-run model to study the effects of liquidity injections on debt markets in the presence of a renegotiation option. In the model, creditors decide when to withdraw their funding and equityholders can renegotiate the contract terms of debt. We show that when equityholders...

We develop a credit-risk model to study the informational role of investment in an economy susceptible to large liquidity shocks. Firms' investment decisions carry information about their asset quality, thereby mitigating informational frictions when firms enter bankruptcy. An increase in...

This paper provides the first steps towards a theoretical and structural modelling framework through which optimal decision making in financial market infrastructures such as payments clearing and settlement systems can be assessed from a market microstructure perspective. In particular, the...

Business failure prediction has become crucially important for today's firms, enabling them to reduce financial risks and make informed decisions. This study uses a dataset of 6819 companies and 96 financial and macroeconomic variables to present a comparative analysis of machine learning (ML)...