F. Navas, Javier2024-09-202024-09-202007-03-01Revista Europea de Dirección y Economía de la Empresa, 16, 2, p. 53-60 (2007)1019-6838https://hdl.handle.net/10433/21728A number of studies have analyzed the effect of voluntary corporate liquidations on shareholder wealth. Others have examined some specific aspects, such as procedural and tax differences, of voluntary liquidating firms. In this paper we perform a preliminary study of the characteristics of firms that voluntary liquidate using a logit model. The paper avoids some of the methodological flaws of commonly used binary state prediction models with different sample and population distributions.enAttribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/Financial distressVoluntary liquidationCorporate divestitureSell-offjournal articleopen access