As the pandemic urged further investigations on the prediction of firms’ financial distress, this study develops and tests an alternative measure to the alert system elaborated by the NCCAAE which combines the benefits of the Z-score’s multivariate discriminant model with the background...

After the escalation of the global financial crisis and the consequent turmoil of the whole banking system, the asset management industry in the EU has undergone a significant growth in the last decade, distinguishing itself as the most vibrant segment within the financial intermediation field....