This study acknowledges the diversity between micro, small and medium-sized firms while predicting bankruptcy and financial distress of United States small and medium-sized enterprises. Empirical findings suggest that survival (failure) probability increases (decreases) with increasing firm size...

Prior studies show that the risk level of each new cohort of listed firms is higher than its predecessor's. We find that these risk differences are persistent and investigate two potential explanations: (1) Each cohort adopts and retains operating innovations that are associated with higher...

Extensive debate exists among policy makers and economists about the employment of highly skilled immigrants in the U.S. It remains unclear whether these immigrants perform complementary tasks in addition to their substitutive role relative to native graduates. Empirical studies examining these...