We use a large panel dataset that includes nearly 31,000 Greek private firms to investigate which variables impact on the prediction of corporate financial distress. Based on a multi-period logit model that accounts for industry effects, we identify six firm-specific variables that best describe...

Bankruptcy models are a common tool of financial analysis to predict the financial distress of companies. However, in the recent years, the instability and risk of the overall economic environment have underlined the need for accurate tools to predict bankruptcy and assess the overall...