We model default with novel loan data maintained by the Portuguese Central Bank for 31,025 accounts of privately-held firms that include 30 accounting ratios and non-accounting information on size, age, industry and geographic regions. Interest costs to gross income, number of days in payables...

When there is significant doubt about a firm's ability to continue as a going concern, professional standards require independent auditors to disclose the uncertainty in their report. This study assesses the influence of the independent auditor's going-concern evaluation by examining default...