Corporate Financial Distress A Study of the Italian Manufacturing In
This book explores methods and techniques to predict and eventually prevent financial distress in corporations. It analyzes the effects of the global financial crisis on Italian manufacturing companies and, more specifically, whether the crisis has increa
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Matteo Pozzoli Francesco Paolone
Corporate Financial Distress A Study of the Italian Manufacturing Industry 123
SpringerBriefs in Finance
More information about this series at http://www.springer.com/series/10282
Matteo Pozzoli • Francesco Paolone
Corporate Financial Distress A Study of the Italian Manufacturing Industry
Matteo Pozzoli Department of Law Parthenope University of Naples Naples, Italy
Francesco Paolone Department of Accounting, Business and Economics Parthenope University of Naples Naples, Italy
ISSN 2193-1720 ISSN 2193-1739 (electronic) SpringerBriefs in Finance ISBN 978-3-319-67354-7 ISBN 978-3-319-67355-4 (eBook) DOI 10.1007/978-3-319-67355-4 Library of Congress Control Number: 2017951120 © The Author(s) 2017 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Printed on acid-free paper This Springer imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Preface
Companies have experienced bankruptcy throughout history. Bankruptcy results in financial harm to investors and creditors and to the economy in general. It has therefore been a topic of study for students and researchers alike with particular focus on the predictability of a bankruptcy. This book presents one of the most current trends in the field of finance and accounting: corporate financial distress and risk seen from an Italian perspective. We provide a review of all research methods of financial distress and bankruptcy modeling based on prior academic literature. From there, we start to implement our model of financial distress risk prediction in an Italian context. In finance and accounting research, failure prediction models may be used as a diagnostic tool in many different contexts. For this reason, each context has a unique model of predicti
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