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Is paper examines the determinants of firm sustainability in Estonia using discrete-time survival analysis with a complementary log-log hazard function. A firm is defined as sustainable if it meets the minimum capital requirement set by the law, and if it does not then it is described as being distressed . The definition of in default stipulates that not only must the firm be short of the required capital, but it should also have exited or dropped out altogether. This study confirms t.

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