Sample firms for both distressed and non-distressed group and respective industries
| Sr. No. | Standard industrial classification (SIC) | Distressed firms | Non-distressed firms | ||||
|---|---|---|---|---|---|---|---|
| Italy | France | Spain | Italy | France | Spain | ||
| 1. | Agriculture, Forestry, And Fishing | 1 | – | – | 1 | – | – |
| 2. | Construction | 19 | 6 | 5 | 19 | 6 | 5 |
| 3. | Manufacturing | 99 | 30 | 9 | 99 | 30 | 9 |
| 4. | Transportation, Communications, Electric, Gas, And Sanitary Services | 30 | 5 | 1 | 30 | 5 | 1 |
| 5. | Wholesale Trade | 13 | 5 | – | 13 | 5 | – |
| 6. | Retail Trade | 15 | 4 | – | 15 | 4 | – |
| 7. | Finance, Insurance, And Real Estate* | 11 | 4 | – | 11 | 4 | – |
| 8. | Services | 43 | 6 | 6 | 43 | 6 | 6 |
| Total | 231 | 60 | 21 | 231 | 60 | 21 | |
| 312 | 312 | ||||||
| 624 | |||||||
| Sr. No. | Standard industrial classification (SIC) | Distressed firms | Non-distressed firms | ||||
|---|---|---|---|---|---|---|---|
| Italy | France | Spain | Italy | France | Spain | ||
| 1. | Agriculture, Forestry, And Fishing | 1 | – | – | 1 | – | – |
| 2. | Construction | 19 | 6 | 5 | 19 | 6 | 5 |
| 3. | Manufacturing | 99 | 30 | 9 | 99 | 30 | 9 |
| 4. | Transportation, Communications, Electric, Gas, And Sanitary Services | 30 | 5 | 1 | 30 | 5 | 1 |
| 5. | Wholesale Trade | 13 | 5 | – | 13 | 5 | – |
| 6. | Retail Trade | 15 | 4 | – | 15 | 4 | – |
| 7. | Finance, Insurance, And Real Estate* | 11 | 4 | – | 11 | 4 | – |
| 8. | Services | 43 | 6 | 6 | 43 | 6 | 6 |
| Total | 231 | 60 | 21 | 231 | 60 | 21 | |
| 312 | 312 | ||||||
| 624 | |||||||
Note(s): * Banks and insurance companies are not included due to their different nature of laws for TDR as compared to non-financial companies. Industries including the Mining and Public Administration have no distressed firms and therefore are excluded from the analysis
Source(s): Table created by author
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