Global zombie companies: measurements, determinants, and outcomes

EI Altman, R Dai, W Wang - Journal of International Business Studies, 2024‏ - Springer
Academics and practitioners are increasingly concerned about global zombieism, a term
used to describe insolvent firms that survive with the support of financial institutions …

The crowding-out effect of zombie companies on fixed asset investment: Evidence from China

M Ren, J Zhao, J Zhao - Research in International Business and Finance, 2023‏ - Elsevier
This paper attempts to investigate the relationship between zombie companies and normal
companies' fixed asset investment. Our empirical research finds that zombies will crowd out …

Zombie firms and resource allocation: research trends and developments during the spread of COVID-191

K Yamada, Y Minoura, J Nakajima… - Journal of Applied …, 2025‏ - Taylor & Francis
We identify so-called “zombie firms,” which survive with banks' and governments' support
despite performing poorly without the prospect of recovery, using firms' financial data. We set …

Surviving beyond expiry: a systematic literature review of zombie firms

AP Upadhyay, PK Baag - China Accounting and Finance Review, 2023‏ - emerald.com
Surviving beyond expiry: a systematic literature review of zombie firms | Emerald Insight Books
and journals Case studies Expert Briefings Open Access Publish with us Advanced search …

Administrative reform and the disposal of zombie enterprises: evidence from China

L Fan, T Tang, G Yang - Small Business Economics, 2023‏ - Springer
The study investigates the effects of drastic institutional changes on the reduction of zombie
enterprises in China and the underlying mechanisms of this relationship. We employed data …

[HTML][HTML] Giving zombie firms a second chance: An assessment of the reform of the Portuguese insolvency framework

E Nieto-Carrillo, C Carreira, P Teixeira - Economic Analysis and Policy, 2022‏ - Elsevier
In most advanced economies productivity growth has been hampered by barriers that allow
zombie firms to survive. We examine the effectiveness of institutional reforms in Portugal that …

Bank competition and zombie company: Empirical evidence from China

Y Shen, M Ren, J Zhao - Economic Analysis and Policy, 2023‏ - Elsevier
This paper aims to explore the relationship between bank competition and zombie
companies. Using a representative micro-database of Chinese enterprises from 1998–2013 …

Zombie firms and disclosures in the expanded audit report

N Muñoz-Izquierdo, JMJ Mazarío… - Review of Managerial …, 2024‏ - Springer
We examine whether expanded audit report (EAR) disclosures classified as the audit
opinion, going concern uncertainty paragraphs (GCUPs), emphasis of matter paragraphs …

Influence of corporate governance on exit time: evidence from French zombie firms

D Veganzones, E Severin - European Business Review, 2023‏ - emerald.com
Influence of corporate governance on exit time: evidence from French zombie firms | Emerald
Insight Books and journals Case studies Expert Briefings Open Access Publish with us …

[HTML][HTML] Zombie Firms during and after Crisis

I Blažková, G Chmelíková - Journal of Risk and Financial Management, 2022‏ - mdpi.com
The phenomenon of zombie firms is gaining the attention of economists across different
countries of the world; the increased interest is particularly evident after periods of economic …