期刊名称：International Journal of Finance and Accounting
印刷版ISSN：2168-4812
电子版ISSN：2168-4820
出版年度：2014
卷号：3
期号：2
页码：122-131
DOI：10.5923/j.ijfa.20140302.09
语种：English
出版社：Scientific & Academic Publishing Co.
摘要：This paper considers a novel topic of comparing how firm failure differs through countries. Based on the behaviour of financial ratios, namely their changes through five years from six countries (United States, United Kingdom, Belgium, Croatia, Czech Republic, Estonia), it was found that median firms from these countries can follow very similar failure processes. Comparison with Laitinen’s (1991) taxonomy of failure processes revealed that in more developed countries there is a behavioural tendency towards the chronic failing firm type, but in less developed former socialist countries, the opposite tendency towards the acute failing firm type occurs.
关键词：Firm failure process; Financial ratios; European and US firms
