What is it about?
The economic crisis in recent years has brought significant challenges in almost all business and shown that exogenous factors act as catalysts in markets. As a consequence of such a result, there is a need to highlight the importance of implementing models for analyzing potential future firms’ behavior, namely creating models for assessing potential economic impact that contribute a lot in avoiding firms’ financial default. This chapter focuses on describing factors affecting business risk associated with Altman’s score and proposes a model in which indicators used are critical for firms’ financial distress.
Featured Image
Why is it important?
The study seeks to find signals of firms’ financial distress as well as actions needed to be taken to avoid it, in order to provide the management with certain strategic movements to avoid potential firms’ default.
Perspectives
SMEs’ risk zone category is related to key factors associated with firms’ viability, such as ERP and Patents use, Age of firms, SMEs cooperation with universities and research centers to implement successful products and services, as well as the number of women in board, all derived from a field research.
Associate Professor Christos Lemonakis (CPA, CMA, CRMO)
Hellenic Mediterranean University
Read the Original
This page is a summary of: Innovation and SMEs Financial Distress During the Crisis Period: The Greek Paradigm, January 2017, Springer Science + Business Media,
DOI: 10.1007/978-3-319-59102-5_10.
You can read the full text:
Contributors
The following have contributed to this page
