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Corporate governance and default prediction: a reality test

Show simple item record Fernando, J.M.R. Li, Leon Hou, Yang (Greg) 2019-09-05T07:34:37Z 2019-09-05T07:34:37Z 2019
dc.identifier.citation Fernando,J.M.R., Leon Li & Yang (Greg) Hou. (2019) Corporate governance and default prediction: a reality test, Applied Economics, P:51:24,ISSN:2669-2686, DOI: 10.1080/00036846.2018.1558351 en_US
dc.identifier.issn 2669-2686
dc.description.abstract Default prediction has commanded the attention of researchers for at least 50 years. This paper addresses several testable hypotheses regarding the relations between corporate governance and default prediction. We employ the conventional logistic regression to provide empirical evidence from U.S. default data over the period of 2000 to 2015. Empirical results are consistent with the following notions: First, default firms are associated with high ownership concentration, low shareholder rights, low financial transparency and disclosures, and less board effectiveness. Second, in-sample and out-of-sample tests support the incremental contribution of corporate governance information on default prediction, when compared with the models involving just financial information. en_US
dc.language.iso en_US en_US
dc.publisher Applied Economics en_US
dc.subject Corporate governance en_US
dc.subject default prediction en_US
dc.subject accounting information en_US
dc.subject market information en_US
dc.title Corporate governance and default prediction: a reality test en_US
dc.type Article en_US

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