Kang, Chien-Min; Wang, Ming-Chieh; Lin, Lin - In: International Journal of Financial Studies : open … 10 (2022) 2, pp. 1-25
In response to relatively little evidence on the determinants of the financial distress in cooperative financial institutions (e.g., Credit Unions), this paper proposes a distress indicator of Merton Distance to default (Merton DD), which was constructed with a z-score, possessed improved...