Corporate Bankruptcy Prediction: A Systematic Literature Review and Comprehensive Bibliometric Analysis

Abstract

Researchers from all over the world have become more interested in bankruptcy prediction during the past 50 years. The prediction of corporate financial difficulties has been the subject of numerous studies ever since Altman revealed the breakthrough bankruptcy prediction model in 1968. The main aim of this research paper is to describe the fundamental concepts associated with the subject of corporate bankruptcy prediction. By identifying the most relevant research papers, nations, and authors in the Web of Science database, an in-depth review of the publications was performed before the analysis. The bibliometric map was created in the VOS Viewer program using the final search result with all available information. The results of the bibliometric analysis reveal that the keywords bankruptcy prediction and classification are the most closely related keywords using the analysis of citations that frequently occur, and that the USA and China developed the most significant international co-author relationships.