{"id":"https://openalex.org/W2106850635","doi":"https://doi.org/10.1111/j.1475-6803.1989.tb00099.x","title":"THE RISK BEHAVIOR OF EQUITY OF FIRMS APPROACHING BANKRUPTCY","display_name":"THE RISK BEHAVIOR OF EQUITY OF FIRMS APPROACHING BANKRUPTCY","publication_year":1989,"publication_date":"1989-03-01","ids":{"openalex":"https://openalex.org/W2106850635","doi":"https://doi.org/10.1111/j.1475-6803.1989.tb00099.x","mag":"2106850635"},"language":"en","primary_location":{"id":"doi:10.1111/j.1475-6803.1989.tb00099.x","doi":"https://doi.org/10.1111/j.1475-6803.1989.tb00099.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1475-6803.1989.tb00099.x","pdf_url":null,"source":{"id":"https://openalex.org/S74917840","display_name":"The Journal of Financial Research","issn_l":"0270-2592","issn":["0270-2592","1475-6803"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-1"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial Research","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5102377875","display_name":"Dana J. Johnson","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I859038795","display_name":"Virginia Tech","ror":"https://ror.org/02smfhw86","country_code":"US","type":"education","lineage":["https://openalex.org/I859038795"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Dana J. Johnson","raw_affiliation_strings":["Virginia Polytechnic Institute and State University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Virginia Polytechnic Institute and State University","institution_ids":["https://openalex.org/I859038795"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5102377875"],"corresponding_institution_ids":["https://openalex.org/I859038795"],"apc_list":{"value":3470,"currency":"USD","value_usd":3470},"apc_paid":null,"fwci":2.2949,"has_fulltext":false,"cited_by_count":17,"citation_normalized_percentile":{"value":0.89905363,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":93},"biblio":{"volume":"12","issue":"1","first_page":"33","last_page":"50"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.41110000014305115,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.41110000014305115,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12509","display_name":"Corporate Insolvency and Governance","score":0.2992999851703644,"subfield":{"id":"https://openalex.org/subfields/3308","display_name":"Law"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11653","display_name":"Financial Distress and Bankruptcy Prediction","score":0.2029000073671341,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/bankruptcy-risk","display_name":"bankruptcy risk","score":0.6859999895095825},{"id":"https://openalex.org/keywords/financial-distress","display_name":"financial distress","score":0.9039999842643738},{"id":"https://openalex.org/keywords/equity-risk","display_name":"equity risk","score":0.7770000100135803},{"id":"https://openalex.org/keywords/systematic-risk","display_name":"systematic risk","score":0.7049999833106995},{"id":"https://openalex.org/keywords/beta","display_name":"beta","score":0.7310000061988831},{"id":"https://openalex.org/keywords/non-synchronous-trading","display_name":"non-synchronous trading","score":0.8759999871253967},{"id":"https://openalex.org/keywords/skewness","display_name":"skewness","score":0.7749999761581421},{"id":"https://openalex.org/keywords/idiosyncratic-risk","display_name":"idiosyncratic risk","score":0.9440000057220459},{"id":"https://openalex.org/keywords/stock-returns","display_name":"stock returns","score":0.6259999871253967},{"id":"https://openalex.org/keywords/bankruptcy-filings","display_name":"bankruptcy filings","score":0.5699999928474426}],"concepts":[{"id":"https://openalex.org/C504631918","wikidata":"https://www.wikidata.org/wiki/Q152074","display_name":"Bankruptcy","level":2,"score":0.9031826853752136},{"id":"https://openalex.org/C80212096","wikidata":"https://www.wikidata.org/wiki/Q1975416","display_name":"Systematic risk","level":2,"score":0.6082264184951782},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.6037445068359375},{"id":"https://openalex.org/C122342681","wikidata":"https://www.wikidata.org/wiki/Q330828","display_name":"Skewness","level":2,"score":0.5563070774078369},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4817102551460266},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.47206762433052063},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4693352282047272},{"id":"https://openalex.org/C152877465","wikidata":"https://www.wikidata.org/wiki/Q208042","display_name":"Regression analysis","level":2,"score":0.4250502288341522},{"id":"https://openalex.org/C2777388754","wikidata":"https://www.wikidata.org/wiki/Q1664594","display_name":"Bankruptcy prediction","level":3,"score":0.42197373509407043},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.41785088181495667},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4012657105922699},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.18311697244644165},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.11573311686515808},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.07177287340164185},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1111/j.1475-6803.1989.tb00099.x","doi":"https://doi.org/10.1111/j.1475-6803.1989.tb00099.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1475-6803.1989.tb00099.x","pdf_url":null,"source":{"id":"https://openalex.org/S74917840","display_name":"The Journal of Financial Research","issn_l":"0270-2592","issn":["0270-2592","1475-6803"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-1"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial Research","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":24,"referenced_works":["https://openalex.org/W290587569","https://openalex.org/W1510446474","https://openalex.org/W1531653575","https://openalex.org/W1560489450","https://openalex.org/W1965666958","https://openalex.org/W1970714322","https://openalex.org/W1984272629","https://openalex.org/W1991126896","https://openalex.org/W2000578291","https://openalex.org/W2002823880","https://openalex.org/W2054467010","https://openalex.org/W2069147838","https://openalex.org/W2081475112","https://openalex.org/W2084806794","https://openalex.org/W2087299529","https://openalex.org/W2115909012","https://openalex.org/W2119273139","https://openalex.org/W2120549852","https://openalex.org/W2124224757","https://openalex.org/W2129671363","https://openalex.org/W2148824402","https://openalex.org/W2156181031","https://openalex.org/W2160117021","https://openalex.org/W2752617332"],"related_works":["https://openalex.org/W583496551","https://openalex.org/W942051","https://openalex.org/W2053676420","https://openalex.org/W2243856018","https://openalex.org/W3123366690","https://openalex.org/W7067723677","https://openalex.org/W3027088442","https://openalex.org/W3125007147","https://openalex.org/W2518745929","https://openalex.org/W2984083798"],"abstract_inverted_index":{"Abstract":[0],"The":[1,42,74],"risk":[2,50,92,107],"behavior":[3,47,104],"of":[4,27,48,62,82,98,105,114],"financially":[5],"distressed":[6],"companies":[7],"is":[8,30,36,67,108],"studied":[9],"using":[10,39],"the":[11,25,33,46,80,95,103,112,115],"shifting":[12],"regimes":[13],"regression":[14,34],"model":[15,35],"originally":[16],"suggested":[17],"by":[18],"Brown,":[19],"Durbin,":[20],"and":[21,32,69,84],"Evans.":[22],"In":[23],"addition,":[24],"presence":[26],"nonsynchronous":[28,72],"trading":[29],"detected":[31],"adjusted":[37],"accordingly":[38],"Dimson's":[40],"technique.":[41],"results":[43,75],"reveal":[44],"that":[45],"systematic":[49],"as":[51],"firms":[52,99],"approach":[53],"bankruptcy":[54,116],"depends":[55],"to":[56,79,85,111],"some":[57,86],"degree":[58],"on":[59],"appropriate":[60],"identification":[61],"periods":[63],"over":[64],"which":[65],"beta":[66,88],"constant":[68],"adjusting":[70],"for":[71],"trading.":[73],"also":[76],"lend":[77],"support":[78],"importance":[81],"skewness":[83],"extent":[87],"but":[89],"not":[90],"unsystematic":[91],"in":[93],"explaining":[94],"security":[96],"returns":[97],"approaching":[100],"bankruptcy.":[101],"Finally,":[102],"equity":[106],"examined":[109],"according":[110],"outcome":[113],"filing.":[117]},"counts_by_year":[{"year":2022,"cited_by_count":1},{"year":2013,"cited_by_count":1}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}
