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Journal of Risk and Financial Management is published by MDPI from Volume 6 Issue 1 (2013). Articles in this Issue were published by another publisher in Open Access under a CC-BY (or CC-BY-NC-ND) licence. Articles are hosted by MDPI on mdpi.com as a courtesy and upon agreement with Prof. Dr. Raymond A. K. Cox and Prof. Dr. Alan Wong.
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J. Risk Financial Manag. 2008, 1(1), 129-162; https://doi.org/10.3390/jrfm1010129

Financial Distress Comparison Across Three Global Regions

Northeastern University, 360 Huntington Ave., Boston, MA 02115, USA
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Published: 31 December 2008
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Abstract

Globalization has precipitated movement of output and employment between regions. We examine factors related to corporate financial distress across three continents. Using a multidimensional definition of financial distress we test three hypotheses to explain financial distress using historical financial data. A null hypothesis of a single global model was rejected in favor of a fully relaxed model which created individual financial distress models for each region. This result suggests that despite other indications of worldwide convergence, international differences in accounting rules, lending practices, managements skill levels, and legal requirements among others has kept corporate decline from becoming commoditized. View Full-Text
This is an open access article distributed under the Creative Commons Attribution License (CC BY 3.0).
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Platt, H.D.; Platt, M.B. Financial Distress Comparison Across Three Global Regions. J. Risk Financial Manag. 2008, 1, 129-162.

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