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We investigate the relationship between bankruptcy risk and expected future sales growth for Norwegian non-listed firms for the period 1988-2007. We find that firms with high bankruptcy risk also have high expected future growth. Financial ratios characterizing firms with high bankruptcy risk...
Persistent link: https://www.econbiz.de/10014185729
This study makes a seminal contribution to bankruptcy prediction models by providing the dynamic characterization of the link between bankruptcy/liquidation, ex-ante financial distress risk and the real economy. By employing simultaneous equation model, we provide a comprehensive setup for...
Persistent link: https://www.econbiz.de/10012972115
insolvency. The goal of the paper is to explore the relationship between an enterprise's sales growth and its insolvency. The … between sales growth and insolvency. Better indicators exist with solvent andgrowing SMEs than with insolvent and non … of the relationship between sales growth and insolvency and empirically demonstrates that sales growth over 200% peryear …
Persistent link: https://www.econbiz.de/10014425519
Persistent link: https://www.econbiz.de/10010471951
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-institutional theory and the concept of institutional entrepreneurship. The sustainability practices have been increasing in the social …
Persistent link: https://www.econbiz.de/10012860891
An increasing amount of literature links the quality of institutions and governance to economic performance across the economies. In this respect, the maintenance of rule of law plays a critical role, for it encourages growth, investments and innovations, and firm growth and business...
Persistent link: https://www.econbiz.de/10012848053
We consider 134 countries during the period 1984-2019 and find a significant positive relation between Rule of Law (law and order provided by police and courts, respect for private property rights) and GDP per capita. Notably, this positive relation is getting stronger with time. This positive...
Persistent link: https://www.econbiz.de/10013251673
Private-order market institutions founded on trust-based relational contracts suffer adverse selection and moral hazard problems, while public-order market institutions have a limited capacity to enforce contracts. I model agent selection between contract enforcement institutions and demonstrate...
Persistent link: https://www.econbiz.de/10012948285