Journal of
Accounting and Taxation

  • Abbreviation: J. Account. Taxation
  • Language: English
  • ISSN: 2141-6664
  • DOI: 10.5897/JAT
  • Start Year: 2009
  • Published Articles: 209

Full Length Research Paper

Firm specific determinants of financial distress: Empirical evidence from Nigeria

Fredrick Ikpesu
  • Fredrick Ikpesu
  • Department of Accounting, School of Management and Social Science, Pan-Atlantic University, Lagos, Nigeria.
  • Google Scholar


  •  Received: 16 January 2019
  •  Accepted: 06 February 2019
  •  Published: 31 March 2019

References

Adekanmbi MO (2017). Causes and effects of banking distress in Nigeria banking industry. International Academic Journal of Accounting and Financial Management 4(1):100-105.

 

Aziz MA, Dar HA (2006). Predicting corporate financial Distress: Where we stand?. Corporate governance. The International Journal of Business in Society 6(1):18-33.
Crossref

 
 

Babatunde MA (2017). Foreign direct investment and export performance in Nigeria: a disaggregated analysis. International Journal of Sustainable Economy 9(2):142-158.
Crossref

 
 

Baimwera B, Muriuki AM (2014). Analysis of corporate financial distress determinants: A survey of non-financial firms listed in the NSE. International Journal of Current Business and Social Sciences 1(2):58-80.

 
 

Bashier AA, Siam AJ (2014). Immigration and economic growth in Jordan: FMOLS approach. International Journal of Humanities Social Sciences and Education 1(9):85-92.

 
 

Becchetti L, Sierra J (2003). Bankruptcy risk and productive efficiency in manufacturing firms. Journal of Banking and Finance 27(11):2099-2120.
Crossref

 
 

Benmelech E, Bergman NK, Enriquez RJ (2012). Negotiating with labor under financial distress. The Review of Corporate Finance Studies 1(1):28-67.
Crossref

 
 

Campbell JY, Hilscher JD, Szilagyi J (2011). Predicting financial distress and the performance of distressed stocks. The Journal of Investment Management 9(2):14-34.

 
 

Chan KC, Chen NF (1991). Structural and return characteristics of small and large firms. The Journal of Finance 46(4):1467-1484.
Crossref

 
 

Chancharat N (2008). An empirical analysis of financially distressed Australian companies: the application of survival analysis. A thesis submitted to University of Wollongong. Available at: 

View

 
 

Cheluget J (2014). Determinants of financial distress in insurance companies in Kenya. Prime Journal of Business Administration and Management (BAM) 4(1):1319-1328.

 
 

Devji S, Suprabha KR (2016). Corporate financial distress and stock return: Evidence from Indian stock market. Nitte Management Review 10(1):34-44.
Crossref

 
 

Eboiyehi OC, Ikpesu F (2017). An empirical investigation of capital structure and tax shield on business distress in Nigeria: An Application of Panel Corrected Standard Error (PCSE) Approach. Journal of Global Economics, Management and Business Research 8(2):67-75.

 
 

Elloumi F, Gueyie JP (2001). Financial distress and corporate governance: an empirical analysis. The International Journal of Business in Society 1(1):15-23.
Crossref

 
 

Garlappi L, Yan H (2011). Financial distress and the cross‐section of equity returns. The Journal of Finance 66(3):789-822.
Crossref

 
 

Gathecha JW (2016). Effect of firm characteristics on financial distress of non-financial listed firms at Nairobi Securities Exchange. Kenya (Doctoral dissertation, Kenyatta University).

 
 

Honjo Y (2000). Business failure of new firms: an empirical analysis using a multiplicative hazards model. International Journal of Industrial Organization 18(4):557-574.
Crossref

 
 

Idrees S, Qayyum A (2018). The impact of financial distress risk on equity returns: A case study of non-financial firms of Pakistan stock exchange. Available at: 

View

 
 

Ijaz MS, Hunjra AI, Hameed Z, Maqbool A (2013). Assessing the financial failure using Z-Score and current ratio: A case of sugar sector listed companies of Karachi Stock Exchange. World Applied Sciences Journal 23(6):863-870.

 
 

Ikpesu F, Eboiyehi OC (2018). Capital structure and corporate financial distress of manufacturing firms in Nigeria. Journal of Accounting and Taxation 10(7):78-84.
Crossref

 
 

Kalim R, Shahbaz M (2009). Remittances and poverty nexus: Evidence from Pakistan. International Research Journal of Finance and Economics 29(2):45-59.

 
 

Kazemian S, Shauri NAA, Sanusi ZM, Kamaluddin A, Shuhidan SM (2017). Monitoring mechanisms and financial distress of public listed companies in Malaysia. Journal of International Studies 10(1):92-109.
Crossref

 
 

Kristanti FT (2015). The test of gender diversity and financial structure to the cost of financial distress: Evidence from Indonesian family business. Proceeding GTAR 2:554-565.

 
 

Kristanti FT, Rahayu S, Huda AN (2016). The determinant of financial distress on Indonesian family firm. Procedia-Social and Behavioral Sciences 219:440-447.
Crossref

 
 

Le Clere MJ (2005). Time-dependent and time-invariant covariates within a proportional hazards model: A financial distress application. Review of Accounting and Finance 4(4):91-109.
Crossref

 
 

Maryam AK, Adamu H (2017). Analysis of the determinants of banks distress in Nigeria: An autoregressive distributed lag model approach. Journal of Economics and Finance 8(2):67-73.

 
 

Merton RC (1974). On the pricing of corporate debt: The risk structure of interest rates. The Journal of Finance 29(2):449-470.

 
 

Modigliani F, Miller MH (1963). Corporate income taxes and the cost of capital: a correction. The American Economic Review 53(3):433-443.

 
 

Nahar AS (2006). Directors' remuneration, firm's performance and corporate governance in Malaysia among distressed companies. Corporate governance: The International Journal of Business in Society 6(2):162-174.
Crossref

 
 

Ong SW, Choong Yap V, Khong RW (2011). Corporate failure prediction: a study of public listed companies in Malaysia. Managerial Finance 37(6):553-564.
Crossref

 
 

Parker S, Peters GF, Turetsky HF (2002). Corporate governance and corporate failure: a survival analysis. Corporate Governance: The international journal of business in society 2(2):4-12.
Crossref

 
 

Pranowo K, Achsani NA, Manurung AH, Nuryartono N (2010). Determinant of corporate financial distress in an emerging market economy: Empirical evidence from the Indonesian stock exchange 2004-2008. International Research Journal of Finance and Economics 52(1):81-90.

 
 

Rahman RA, Sulaiman S, Fadel ES, Kazemian S (2016). Earnings management and fraudulent financial reporting: The Malaysian story. Journal of Modern Accounting and Auditing 12(2):91-101.

 
 

Rath S (2008). The survival of initial public offerings in Australia. In Oxford Business & Economics Conference Program, UK.

 
 

Ray S (2011). Assessing corporate financial distress in automobile industry of India: An application of Altman's model. Research Journal of Finance and Accounting 2(3):155-168.

 
 

Tesfamariam Y (2014). The Determinants of Financial Distress in the Case of Manufacturing Share Companies in Addis Ababa-Ethiopia. Addis Ababa University, Ethiopia.

 
 

Thim CK, Choong YV, Nee CS (2011). Factors affecting financial distress: The case of Malaysian public listed firms. Corporate Ownership and Control 8(4):345-351.
Crossref

 
 

Tinoco MH, Wilson N (2013). Financial distress and bankruptcy prediction among listed companies using accounting, market and macroeconomic variables. International Review of Financial Analysis 30:394-419.
Crossref

 
 

Turetsky HF, McEwen RA (2001). An empirical investigation of firm longevity: A model of the exante predictors of financial distress. Review of Quantitative Finance and Accounting 16(4):323-343.
Crossref

 
 

Uchenna AW, Okelue DU (2012a). Detecting Early Warning in Bank Distress in Nigeria: A Multi Discriminant Analysis Approach. Research Journal of Finance and Accounting 3(6):35-45.

 
 

Uchenna AW, Okelue UD (2012b). Predicting Corporate Business Failure in the Nigerian Manufacturing Industry. European Journal of Business and Management 4(10):86-94.

 
 

Wesa EW, Otinga HN (2018). Determinants of financial distress among listed firms at the Nairobi securities exchange. The Strategic Journal of Business and Change Management 5(4):1057-1073. Available at: 

View

 
 

Zeli A (2014). The financial distress indicators trend in Italy: an analysis of medium-size enterprises. Eurasian Economic Review 4(2):199-221.
Crossref