What does this research mean for the field?

While business failure prediction has shifted toward complex AI-driven approaches, the economic value of these models depends on temporal robustness, decision relevance, and regulatory compatibility, requiring evaluation metrics that extend beyond mere classification accuracy. Novelty: ClaimNovelty.SYNTHESIS. Consensus alignment: ConsensusAlignment.NEUTRAL.

What question did this study set out to answer?

This review aims to organize and assess business failure prediction methods and their economic implications. It focuses on the evolving landscape of modelling in response to data and regulatory changes.

August 5, 2026Journal of Economic Surveys

Advances in Business Failure: A Review of Progress and Prediction Methods

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This review aims to organize and assess business failure prediction methods and their economic implications. It focuses on the evolving landscape of modelling in response to data and regulatory changes.
Used bibliometric mapping combined with interpretive synthesis to analyze literature.
Organized findings around four analytical dimensions: predictive vs causal, static vs dynamic, interpretability vs accuracy, macroeconomic integration.
Examined model development in the context of changing economic environments and decision-making demands.
Indicated a shift from static accounting-based models to dynamic, data-rich AI-driven approaches.
Emphasized that improved predictive performance does not guarantee economic value, requiring an evaluation of temporal robustness and decision relevance.
Highlighted the role of explainable artificial intelligence in balancing predictive accuracy with interpretability and regulatory usability.

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Implication

Review examines prediction methods in business failure, indicating new models enhance economic relevance.

Cite This Study

Voicila et al. (2026) studied this question.

synapsesocial.com/papers/6a72e84e226790f370658144 https://doi.org/10.1111/joes.70141

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Advances in Business Failure: A Review of Progress and Prediction Methods

Key Points

Discussion

Implication

Cite This Study

Advances in Business Failure: A Review of Progress and Prediction Methods

Key Points

Discussion

Implication

Cite This Study

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