Reviews previous research on the links between business failures, macroeconomic conditions and insolvency law; and develops a mathematical, econometric model to investigate them further, using 1996‐1998 UK data. Presents and discusses the results, which suggest that the 1986 Insolvency Act did...

The theme of this issue of Managerial Finance is managing corporate tax. Accompanying contributions address capital budgeting, financing, dividends, and financial reporting.