This research starts from the work by Madonna and Cestari (2015) that aimed at assessing the usability of three bankruptcy prediction models applied in contexts other than the ones of their elaboration, in order to evaluate their generalizability and the possibility to apply them in wide-scale investigations. We took the cue from that study to assess the usability of four bankruptcy prediction ...

The COVID-19 pandemic has an impact on society, companies and countries. This causes a decrease in the market’s purchasing power, brings risk to businesses’ sustainability. purposes of this research are examine whether had positive effect prediction bankruptcy historical managerial ability anticipating toward prediction. is quantitative which uses secondary data, namely financial information co...

The development of the Cyprus Stock Exchange together with the increasing trend of investors’ presence in financing activities has led to the importance of this market. In such circumstances, the first step towards a sustainable development of the Exchange is to support the investors. Risk of bankruptcy for the investee is a major challenge that an inexperienced stock investor encounters. In th...

This paper deals with the ever-increasing issue of bankruptcy prediction in distressed economies. Specifically, aim this study is to create a model by establishing new set predictor variables, which achieves significant discrimination among listed manufacturing firms Greece, using multivariate discriminant analysis (MDA). An equally balanced matched sample 28 Greek-listed was used covering peri...

I combine two fields of research on default prediction by empirically testing a bankruptcy prediction function where unlisted firms are evaluated on the basis of both their financial statement analysis and the macroeconomic environment. This combination is found to improve the default prediction compared to financial statements alone. The GDP-gap, a production index and the money supply M1 in c...