Advancements in Bankruptcy Prediction Models and Bibliometric Analysis




Predictive models, Financial distress, Bibliometric Analysis, Risk


Since the economic downturn of the 1930s, there has been a growing interest in predicting company bankruptcies. Though not a new topic, the prospect of business bankruptcy has gained increasing relevance due to globalisation. This study explores various methodologies employed in predicting bankruptcy. Preventing bankruptcies also bolsters economic stability by averting the adverse effects of insolvency on the community. Companies with a solid and flexible economic foundation are more likely to succeed. This article reviews existing literature, discusses prevalent predictive models, and presents a statistical analysis of bibliometric data associated with bankruptcy prediction. This work aims to answer the research question of identifying the trends over time in the econometric models used to predict bankruptcy. This article may be useful for finance and business students in providing an overview of the subject and for business managers to identify the key determinants of financial distress. Exploring the R package, Bibliometrix® demonstrates its efficacy as a powerful tool for science mapping.

Author Biographies

Amanda Zetzsche, CEOS.PP, ISCAP, Instituto Politécnico do Porto

Amanda Gomes holds a Bachelor of Business Administration and is pursuing a Master in Corporate Finance at ISCAP-Polytechnic of Porto. As a research fellow at CEOS.PP, her research focuses on corporate sustainability, financial technology, and innovative approaches to enhance corporate practices in line with sustainable development goals.

Cristina Lopes, CEOS.PP, ISCAP, Instituto Politécnico do Porto

Cristina Lopes has a degree in Mathematics, PhD in Industrial Engineering and a post-graduation in Statistics. She is Coordinating Professor at ISCAP - Polytechnic of Porto, lecturing Mathematics, Statistics and Operations Research and she is vice-director of the Centre for Organisational and Social Studies of P. Porto (CEOS.PP).

Rui Bertuzi da Silva, CEOS.PP, ISCAP, Instituto Politécnico do Porto

Rui Bertuzi holds a PhD in Business Sciences. He is a senior lecturer at ISCAP-Polytechnic of Porto in Accounting. He is vice-director of the Centre for Organisational and Social Studies of P. Porto (CEOS.PP). He has been involved in several European projects related to Business Transfer, Intercultural Innovation, Entrepreneurship.