This document summarizes a research paper that investigates financial distress among Thai listed firms using macroeconomic and microeconomic variables. It begins by providing context on Thailand's 1997 economic crisis and prior research on predicting corporate bankruptcy. It then discusses key differences in Thailand's bank-centered financial system, highly concentrated corporate ownership, and accounting practices. The research aims to develop a model linking firms' sensitivity to macroeconomic conditions with their financial characteristics to better explore financial distress. It finds that macroeconomic factors are critical indicators of potential financial crisis for firms, and higher sensitivity to inflation increases exposure to distress.