Determinants and consequences of financial distress: review of the empirical literature
Abstract
We synthesise the empirical literature on the determinants and consequences of financial distress, critique the findings and offer suggestions for future research. We categorise these indicators into (i) firm‐level fundamental determinants, (ii) macroeconomic determinants and (iii) firm‐level corporate governance determinants. We categorise the consequences into (i) financial reporting and auditing consequences, (ii) firm‐level operational...
Paper Details
Title
Determinants and consequences of financial distress: review of the empirical literature
Published Date
Apr 1, 2020
Journal
Volume
60
Pages
1023 - 1075
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