The study analyses the bankruptcy of newly formed Japanese small and medium-sized entities (SMEs) by comparing specific features with newly formed but survived SMEs. It applies Resource-based Firm Theory and other theories to identify the bankruptcy features and uses logit regression to validate...

While international business and economics literature once viewed companies as atomistic, disconnected units basing decisions solely on market incentives, recent studies have highlighted the importance of the so-called relational aspect or ‘network embeddedness' (Andersen and Lorenzen 2007;...