Corporate Governance, a Shield of Bankruptcy
Corporate Governance, a Shield of Bankruptcy

Summary/Abstract: The primary aim of the paper is to review previous literature with respect to corporate governance, bankruptcy prediction in various ways and the importance of the variables used in predicting bankruptcy. The paper attempts to conduct a literature review, to analyze and synthesize the data from previous studies illustrating the variables used to predict bankruptcy or survival of the business in many developed countries in a group of developed countries such as Italy, the United States, Australia, New Zealand, Spain and France as well as those in a group of developing countries such as China, Malaysia and Thailand. The literature review could gather structural variables of corporate governance. Obviously, the relevant studies reviewed used both quantitative and qualitative research methodologies such as multiple regression, the pooled ordinary least squares, Altman’s z-score, t-test, ordinary least squares regression, survival analysis, cox proportional hazard technique, questionnaires (Likert scale), probit regression, generalized least square, McKinsey approach and competing-risks model and so on; and also they have used various variables indicating the corporate governance of the company, leading to the business survival. This research is a beginning point of taking the variables gathered from such literature review in quantitative modeling of study.

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