How do board characteristics influence the risk of bankruptcy? We study this question by estimating classic Z-Score models using panel data comprising 2519 listed non-financial firms from 29 European countries over 2012–2020 period. found that independence is associated with lower bankruptcy. In contrast, employee representatives have an adverse effect on monitoring capacity and are predicted t...

The aim of this paper is to determine the incidence of internal corporate governance on the efficiency of public transport operators. We use a stochastic analysis frontier model of a sample of 54 public road transport firms, during the period of 2000–2011. We also explain the inefficiency of public transport operators by the internal corporate governance. The stochastic frontier approach is use...