This paper investigates whether or not an industry effect is present when modelling corporate collapse in Australia. The investigation is motivated by a lack of consistency in the literature regarding such an effect. Moreover, this paper makes a unique contribution by applying an innovative methodological approach, called Multi-Level Modelling (MLM), for model derivation. Unlike the traditional two-step methodology used so far in the literature, MLM carries out model derivation and tests for an industry effect in a single step. Finally, the effectiveness of MLM is demonstrated using a sample of Australian publicly listed companies during the period 1989 to 2005; empirical results point to the absence of an industry effect.
Field of Research
Socio Economic Objective
970115 Expanding Knowledge in Commerce, Management, Tourism and Services
Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact firstname.lastname@example.org.