Michala, Dimitra; Grammatikos, Theoharry; Filipe, Sara … - Centre de Recherche en Économie Appliquée (CREA), … - 2013
We develop distress prediction models for non-financial small and medium enterprises (SMEs) using a dataset from eight European countries over the period 2000-2009. We examine idiosyncratic and systematic covariates and find that macro conditions and bankruptcy codes add predictive power to our...