The aim of this study is to verify the stability of the profitability-liquidity relationship over time, as well as to determine this relationship in terms of its level and structure. In this context, three main research questions were formulated. First, is the profitability-liquidity...

Credit-risk models that are designed for general application across sectors may not be suitable for the construction industry, which has unique characteristics and financial risks that require specialised modelling approaches. Moreover, advanced bankruptcy-prediction models are often used to...