The labor studies literature has for many years accepted the labor hording theory. That theory derives from Journal of Financial Transformation seminal work by Oi (1962), Miller (1971), and Fair (1985). These studies argue that as a result of the absolute cost of hiring and training certain...

During the boom that preceded the economic collapse of 2007-2009, the expression “the world is awash in liquidity” was frequently heard when speakers described the state of the economy. The expression meant that money was freely available to almost any borrower. The list of suitable...

Since the April 2005 passage of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), companies have discovered that bankruptcy has become a quicksand of unexpected surprises that quickly forces companies into liquidation or forced asset sales under section 363 of the Bankruptcy...

Early warning models are among the most utilized developments in finance. A good early warning model can predict with a high degree of accuracy the likelihood that a healthy company will either go bankrupt or become financially distressed. B2B companies supply products are now global. This paper...

The paper examines whether it is better to separate a model/sample to account for differences between large and small firms when developing a predictive tool to identify which companies are likely to become distressed, and therefore at risk to the supply chain. Previous research has scaled data...

We investigate the ratio of terminal value (TV) to present value (PV) for a variety of enterprises. Calculations are derived at different time periods and for various size deciles and industry. We document that when there are more years of data available that the TV/PV ratio decreases. We also...

The relationship between personal and firm bankruptcy is intuitively understood but has not been previously studied. When a person files a bankruptcy petition they reduce their spending on goods and services sold by companies. Similarly, when a firm files for bankruptcy some employees lose their...