Chancharat, Nongnit; Tian, Gary; Davy, Pamela; McCrae, … - 2010
This study examines the determinants of multiple states of financial distress by applying a competing-risks model. It …-financial companies over the period 1989 to 2005 using a competing-risks model is used to determine the possible differences in the …. Comparing the results from both the single-risk model and the competing-risks model reveals the need to distinguish between …