In response to relatively little evidence on the determinants of the financial distress in cooperative financial institutions (e.g., Credit Unions), this paper proposes a distress indicator of Merton Distance to default (Merton DD), which was constructed with a z-score, possessed improved...

The paper tests the relationship between corporations' dependence on external financing and their level of corporate information disclosure, and the relationship between the cost of capital and the level of corporate information disclosure in the Integrated Circuit (IC) industry in Taiwan. Using...