The post-Altman models suffer from moral amortization. This paper asks whether models developed in one country can be applied in other economies. One of the characteristics of the prediction model is that a date drives the estimation. Thus, the estimated model based on one economy is not...

Objective: The objective of the article is to quantitatively systematise the existing literature on country-level venture capital (VC) activity and find the sources of discrepancy in previous studies.Research Design & Methods: This article collects studies that focus on venture investments...