“…Instead, most survival analyses have focused on the impact of size, using various measures of size including sales, assets, capacity, and employment, consistently finding that larger firms and businesses are less likely to exit. These studies include Star and Massel (1981), Small Business Administration (1983), Aldrich and Auster (1986), Evans (1987), Barnett (1990), Delacroix and Swaminathan (1991), Baum and Oliver (1991), Baum and Mezias (1992), Carroll and Swaminathan (1992), Barron, West, andHannan (1994), andMitchell (1994). Although many of these studies pool dissolutions and acquisitions as forms of exit, which creates some ambiguity in interpreting the results, the basic size-survival relationship appears to be robust at both the corporate and business level.…”