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The effect of size on the failure probabilities of SMEs: An empirical study on the US market using discrete hazard model

El Kalak, Izidin, Hudson, Robert (2016) The effect of size on the failure probabilities of SMEs: An empirical study on the US market using discrete hazard model. International Review of Financial Analysis, 43 . pp. 135-145. ISSN 1057-5219. (doi:10.1016/j.irfa.2015.11.009) (KAR id:55638)

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Abstract

This paper investigates the extent to which the size affects the SME probabilities of bankruptcy. Using a dataset of

We forecast the bankruptcy probabilities by developing four discrete-time duration-dependent hazard models

and SMEs suggests that an almost identical set of explanatory variables affect the default probabilities leading

However, comparisons between the micro and small firms with the SMEs firms strongly suggest that these

categories need to be considered separately when modelling their credit risk.

Item Type: Article
DOI/Identification number: 10.1016/j.irfa.2015.11.009
Uncontrolled keywords: SMEs, Bankruptcy, Size, Discrete-time duration-dependent hazard model
Subjects: H Social Sciences > HG Finance
Divisions: Divisions > Kent Business School - Division > Kent Business School (do not use)
Depositing User: Izidin El Kalak
Date Deposited: 20 May 2016 13:24 UTC
Last Modified: 16 Feb 2021 13:35 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/55638 (The current URI for this page, for reference purposes)
El Kalak, Izidin: https://orcid.org/0000-0002-2992-4042
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