Empirical studies on small business survival and exits focus on endogenous firms and top manager characteristics, whereas few studies consider exogenous demand shocks and local consumer awareness and behavior, which are especially important for local hospitality industries. Therefore, this study...

The Japanese corporate system is assumed to contain an implicit insurance mechanism in various aspects. This paper proves the existence of risk sharing mechanism in supplier relations in a different way from the previous studies, using a unique data set of Japanese automotive parts suppliers....

Cluster policies have attracted increasing attention worldwide, but only a few studies have focused on their management by local cluster organizations. We investigate the relationship between national cluster policies and their management by local cluster organizations from a comparative...