Could you please provide some sources for the relationship between the fiscal policy and bankruptcy/insolvency/corporate failure?

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Georgios Vousinas

You can check the following:

Fiscal Policy & Business Cycles

AH Hansen - 2013

Fiscal policy and business cycles: an empirical investigation

A Fatas, I Mihov - 2000

Prof-Dr-Ahmed Al-Baidhani أ. د. احمد البيضاني

I would recommend the following papers to be checked out:

Fiscal policy in latin america; by Michael Gavin and Roberto Perotti (1997)

International evidence on fiscal solvency: Is fiscal policy “responsible”?; by EG Mendoza and JD Ostry (2008)

Grzegorz Gołębiowski

Check it:

TESTING THE IMPACT OF THE FISCAL POLICY WITH THE SVAR MODEL IN SEVEN CEE ECONOMIES, by Marin DINU & Marius-Corneliu MARINAŞ (2014)

Ghassan Omet

I am really aware of papers that examine impact of fiscal policy on corporate failure. However, macroeconomic performance measured by real gdp and inflation rates are used. Besides, if fiscal policy contributes towards macroeconomic stability (real GDP and inflation), these measures can be used as proxies for fiscal policy.