Arbeitspapier
The Relationship Between Bankruptcy Risk and Growth for Non-Listed Firms
We investigate the relationship between bankruptcy risk and expected future sales growth for Norwegian non-listed firms for the period 1988-2007. We find that firms with high bankruptcy risk also have high expected future growth. Financial ratios characterizing firms with high bankruptcy risk also characterize firms with high future expected growth. Small firms, firms with low levels of equity and retained earnings, firms with low profitability and low levels of sales per unit of capital, have all higher expected future growth rates than other firms. These findings suggest a tradeoff between the upside potential of high growth and the downside risk of bankruptcy.
- ISBN
-
978-82-7553-588-5
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2010/31
- Klassifikation
-
Wirtschaft
General Financial Markets: General (includes Measurement and Data)
Corporate Finance and Governance: General
Bankruptcy; Liquidation
- Thema
-
non-listed firms
growth
bankruptcy risk
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Nordal, Kjell Bjørn
Næs, Randi
- Ereignis
-
Veröffentlichung
- (wer)
-
Norges Bank
- (wo)
-
Oslo
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
21.04.2023, 15:04 MESZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Nordal, Kjell Bjørn
- Næs, Randi
- Norges Bank
Entstanden
- 2010
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