Wilcox, J. (1971). A gambler's ruin prediction of business failure using accounting data. Sloan Management Review 13 (Spring), 1-10. 

Wilcox, J. (1976). The gambler's ruin approach to business risk. Sloan Management Review 18(1) (Fall), 33-46. 

Scott, J. (1981). The probability of bankruptcy: a comparison of empirical predictions and theoretical models. Journal of Banking and Finance 5 (September), 317-344.