Corporate failure risk assessment of Greek companies
by Athanasios Tsagkanos, Antonios Georgopoulos, Dimitrios P. Koumanakos, Evangelos P. Koumanakos
International Journal of Risk Assessment and Management (IJRAM), Vol. 9, No. 1/2, 2008

Abstract: In this paper, we investigate the determinants of corporate failure risk for the Greek non-financial companies using public accounts. Our motivation stems from the results of a recent international survey revealing that, during the period 2003–2004, Greece showed the biggest in terms of percentage, increase in corporate insolvencies among all the European countries. By exploiting a recent database and a set of variables as possible predictors of corporate failure, we use two competitive logit models comparing their predictive accuracy. Surprisingly, both the models exhibit low failure prediction ability a fact that intensify concerns about the quality of financial reporting of the Greek firms.

Online publication date: Mon, 07-Jul-2008

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Risk Assessment and Management (IJRAM):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com