The aim of this study was to investigate whether firms’ reporting delays are interconnected with bankruptcy risk and its financial determinants. This study was based on 698,189 firm-year observations from Estonia. Annual report submission delay, either in a binary or ordinal form, was used as...

Credit-risk models that are designed for general application across sectors may not be suitable for the construction industry, which has unique characteristics and financial risks that require specialised modelling approaches. Moreover, advanced bankruptcy-prediction models are often used to...

Banks face adverse selection problem in granting loans due to asymmetric information about their debtor's financial condition which in turn causes bank to be exposed to credit risk. The Basel II accord requires banks to develop quantitative credit risk model as a base for determining their...