Efficient cooperation, which has become common under rising economic globalization, is leading to new opportunities and challenges for enterprises choosing long-term competition strategies. Sharing resources with competitors is believed to weaken a firm's competitive edge. However, a potentially...

This study develops a corporate bankruptcy classification model from a sample of 258 bankrupt and non-bankrupt companies, covering the period 1986-2008. Instead of depending on traditional ratios, it uses a simple exponential function-based algorithm to improve the stability of financial data....

Previous research claims that industry-relative financial ratios are more stable than unadjusted ratios. Yet, most bankruptcy studies continue to use unadjusted financial ratios to develop bankruptcy-prediction models. In re-examining whether industry-relative ratios are actually more stable, we...

This paper develops a theoretical model and then, using Canadian joint replacement surgery data, empirically tests the relationship between government policies that promote privately funded health care and patients' waiting time in the public health care system. Two policies are tested: one...

In dynamic capital structure models with an investor break-even condition, the firm's Bellman equation may not generate a contraction mapping, so the standard existence and uniqueness conditions do not apply. First, we provide an example showing the problem in a classical trade-off model. The...