Replication package for "Recurrent Financial Distress: Does History Matter Beyond the First Episode?"

This package reproduces every result in "How much does distress history add? Evidence from repeated financial distress". One R script, Distress_history_Replication_code.R, rebuilds the analysis panel, writes Tables 1 and 2 and Figure 1, prints every number quoted in the text, and ends with a self-check that reports 37 of 37 checks passed. It runs in about five minutes and uses only the survival package, which is part of a standard R installation.

The panel holds 285,824 firm-years on 22,555 listed firms from ten countries, 1993 to 2022. Firm identifiers are arbitrary integers and carry no company name or vendor code.

The code is released under the MIT licence. The data file is derived from Refinitiv Worldscope Fundamentals and Datastream, which are licensed products, and re-use of it is subject to the terms of that agreement rather than the MIT licence.