This paper aims to compare the usefulness of tax arrears and financial ratios in bankruptcy prediction. The analysis is based on the whole population of Estonian bankrupted and survived SMEs from 2013 to 2017. Logistic regression and multilayer perceptron are used as the prediction methods. The...

This study aims to determine how payment disturbances in managers' earlier entrepreneurial practices (PDMs) predict corporate default. Classical financial ratios have often failed to predict the default of micro-, small- and medium-sized firms with high accuracy, and therefore, the extant...

This study considers the novel topic of comparing firm failure processes between different countries. For seventy bankrupt Finnish firms corresponding pairs are found among Estonian bankrupt firms based on industry, size and time of bankruptcy. Despite the similarity of firms from two countries,...

Purpose: This paper aims to study how firms’ export behavior is associated with their corporate governance. Design/methodology/approach: This study uses whole population data of Estonian small and medium-sized enterprises: 9,530 exporters and 73,619 non-exporters. Several theory-driven...

Purpose: The purpose of this study is to find out how corporate governance is interconnected with failure risk in case of small- and medium-sized enterprises (SMEs). Design/methodology/approach: The study is based on Estonian whole population of SMEs, in total 67,058 observations, and data are...

Purpose: The purpose of this paper is to find out whether the financial predictors of failure differ for exporting and non-exporting firms. Design: The study is based on two samples of French manufacturing micro firms from Amadeus database. Samples of 468 exporting and 1,148 non-exporting firms...

Purpose: This paper aims to find out what kind of export and failure risk patterns exist among young Estonian manufacturing exporters and explore their interlinkages. Design/methodology/approach: The sample consisted of 208 young Estonian manufacturing exporters. Based on internationalization...

Purpose: This paper aims to find out if different exporter types dominate among matched mature Spanish and Estonian firms and whether these types are associated with specific export growth/decline patterns. Design/methodology/approach: This study is based on firm-level data from the Estonian...

Purpose: The purpose of this paper is to explore the linkages between the appointment of a new management board member and the following strategic change (SC) in the product-market scope of the firm. Design/methodology/approach: The study is based on the whole population of Estonian firms, in...