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Financial distress cost of Italian small and medium enterprises

Author

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  • Andrea Quintiliani

Abstract

Purpose - This paper aims to propose a theoretical model designed to predict the likelihood of financial distress of an enterprise and to quantify the damages whenever the financial crisis became full-blown. Design/methodology/approach - Coherently with the objectives of the paper, the analysis considers the last seven exercises (period: 1999/2006) of a sample of 25.000 small- and medium-sized enterprises (SMEs) (volume of sales:

Suggested Citation

  • Andrea Quintiliani, 2017. "Financial distress cost of Italian small and medium enterprises," Journal of Risk Finance, Emerald Group Publishing Limited, vol. 18(5), pages 564-580, November.
    • Handle: RePEc:eme:jrfpps:jrf-04-2017-0071
    DOI: 10.1108/JRF-04-2017-0071
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    More about this item

    Keywords

    SMEs; Intangible assets; Debt; Financial distress cost; Local banks; G21; G24; G28; G32; G33;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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