This study aims to determine how payment disturbances in managers' earlier entrepreneurial practices (PDMs) predict corporate default. Classical financial ratios have often failed to predict the default of micro-, small- and medium-sized firms with high accuracy, and therefore, the extant...

Government often faces decisions, which concern choosing between projects carrying different risk level and timing of cash flows. For calculating government real estate investment discount rate, we can apply social opportunity cost approach and derived from that the capital asset pricing model...

After joining the European Union, remarkable support has been provided to Estonian firms through government grants financed from EU funds, but so far it has not been systematically studied, which firms can get support from them. Current study analyzes all grants for firms financed from EU funds...

Although most countries have firm reorganization option in legislation (either as a separate law or part of insolvency code), the practice of successful reorganizations has remained modest. Reorganization law was introduced in Estonia in late 2008, but only a few firms have been successfully...