What are the characteristics of a survivor? Evidence from bankruptcy analysis of newly formed Japanese SMEs
by Hong Xu
International Journal of Entrepreneurship and Small Business (IJESB), Vol. 51, No. 2, 2024

Abstract: We analyse the bankruptcy of newly created Japanese small and medium-sized enterprises (SMEs) from 2003 to 2011 by comparing various features with newly formed but surviving companies during the same period. First, we root our study in Penrose's resource-based firm theory and Barney's sustained competitive advantage framework and follow prior SME research results (mainly Storey's small business) to identify the features of bankrupted SMEs in Japan. Then, we use t-tests and logistic regression to verify the validity of these identified features. Finally, we use the verified features to build prediction models using machine learning techniques and test the prediction effects.

Online publication date: Wed, 03-Jan-2024

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