This paper presents a survey of techniques used for default risk analysis and it illustrates the reasons why a large number of researchers study the insolvency of firms. Firstly, there is an introduction on Basel II focusing on the first pillar and the new standards dictated by the New Basel...

Purpose – This paper aims to review the existing literature systematically so as to contribute towards a better understanding of methodological problems of the classical statistical techniques, artificially intelligent expert systems and theoretical approaches to solve the corporate failure...