The financial distress risk concept has been referred as follow: negative net assets, insolvency, bond default, overdraft, unpaid dividends for the preferred stocks, bankruptcy etc. From all the stakeholders, investors are interested in the financial position and performance of a company and its...

This study uses generalized additive models to identify and analyze nonlinear relationships between accounting-based and market-based independent variables and how these affect bankruptcy predictions. Specifically, it examines the independent variables that Altman (J Financ 23:589–609, 1968;...

The purpose of this paper is to examine the essential characteristics of the financial statements of FinTech start-ups and to investigate which figures of balance sheets are suitable indicators of failure for this still rising group of start-ups. We conduct a quantitative analysis of 595 annual...

Centralized cryptocurrency exchanges, which manage annual trading volumes on the scale of trillions of US dollars worldwide, are classified as virtual asset service providers (VASPs). They facilitate the exchange, custody, and transfer of cryptoassets organized in wallets across distributed...

This paper looks at a sample of small and medium entities in Spain and analyzesthe effect of the vulnerability of sectors to insolvency on their survival and the probability that they will go bankrupt. We collected data from solvent and insolvent firms in Spain over the period 2012-2016, and...

The paper analyses options in case of insolvency. Although insolvency plans empirically are very successful, they are not used very much. Reasons that prevent their application and possibilities for their promotion are discussed.

Market situation and business environment of construction companies influence significantly decisions met by this group of entities. These decisions are reflected in financial statements, later on. The evaluation of financial condition, which aims at diagnosing corporate crisis, must not...

This study develops a mathematical framework to analyze the time series of profitability ratios in the early stages of a startup. It is assumed that the expenditure of the startup grows at a steady rate and generates a proportionally identical flow of revenue in each period. The profitability in...

Accurate probability-of-distress models are central to regulators, firms, and individuals who need to evaluate the default risk of a loan portfolio. A number of papers document that recent machine learning models outperform traditional corporate distress models in terms of accurately ranking...