We study the association between the stock liquidity of SMEs in the US and their likelihood of bankruptcy, using a dataset that comprises information on 5075 firms over the time period from 1984 to 2013 using the hazard model of Campbell et al. (2008). We find that less liquid stocks are...

A huge diversity exists within the broad category of SMEs. They differ widely in their capital structure, firm size, access to external finance, management style, numbers of employees etc. We contribute to the literature by acknowledging this diversity while modeling credit risk for them, using...

This study considers domestic and international small and medium-sized enterprises (SMEs) of the United Kingdom separately while modelling their default risk. To establish the empirical validation, separate one-year default prediction models are developed using dynamic logistic regression...

Small and medium size enterprises (SMEs) play a fundamental role in the economic performance of major economies especially in light of the new Basel Capital Accord. Several lending communities proposed to treat SMEs as retail clients to optimize capital requirements and profitability. In this...