• ISSN: 2010-023X
    • Frequency: Bimonthly
    • DOI: 10.18178/IJTEF
    • Editor-in-Chief: Prof.Tung-Zong (Donald) Chang
    • Executive Editor: Ms. Cherry L. Chen
    • Abstracting/ Indexing: Engineering & Technology Digital Library, ProQuest, Crossref, Electronic Journals Library , EBSCO, and Ulrich's Periodicals Directory
    • E-mail: ijtef@ejournal.net
IJTEF 2012 Vol.3(4): 305-310 ISSN: 2010-023X
DOI: 10.7763/IJTEF.2012.V3.217

Financial Performance Before Failure: Do Different Firms Go Bankrupt Differently?

Oliver Lukason
Abstract—This paper studies, whether pre-bankruptcy financial performance differs through firm types. Based on the whole population data of Estonian bankrupt firms from the period 2002-2009 and an extensive set of financial data changes it is shown, that distinct differences in the pre-bankruptcy financial performance exist. Namely, it is proven that for different industries, size groups, bankruptcy years, insolvency types and varying levels of control, the pre-bankruptcy changes of financial variables and ratios are not the same.

Index Terms—Bankruptcy, financial data, failure process.

O. Lukason is with the Tartu University, Faculty of Economics and Business Administration, Narva road 4, Tartu 51009, Estonia (e-mail: oliver.lukason@ut.ee).

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Cite:Oliver Lukason, "Financial Performance Before Failure: Do Different Firms Go Bankrupt Differently?," International Journal of Trade, Economics and Finance vol.3, no.4, pp. 305-310, 2012.

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