Final answer:
High-technology firms and service-based firms are considered risky restructuring candidates mainly because they have few tangible assets and are human-resource dependent. This makes them less flexible in managing downturns since staff layoffs can permanently damage their knowledge base and operational capabilities.
Step-by-step explanation:
The similarity between high-technology firms and service-based firms that makes them risky as restructuring candidates is that they have few tangible assets. Unlike businesses with significant tangible assets, these firms cannot easily liquidate assets to satisfy debts or restructure. Furthermore, both types of firms tend to be human-resource dependent, meaning they rely heavily on the skills, expertise, and creative capabilities of their employees. This characteristic makes them vulnerable during economic downturns because they may need to lay off employees whose knowledge and abilities are integral to the firm's success but cannot do so without risking the future of the company once the economy recovers.
It's also important to note that being human-resource dependent doesn't necessarily lead directly to higher bankruptcy risk, as with firms with high percentages of union employees paying higher wages. The effect of high wages on bankruptcy risk is nuanced and depends on several factors, including the firm's overall wage structure, productivity, and the state of the economy.