Lee, Seung-Hyun; Yamakawa, Yasuhiro; Peng, Mike W.; … - In: Journal of Business Venturing 26 (2011) 5, pp. 505-520
How do bankruptcy laws as formal institutions affect entrepreneurship development around the world? Do entrepreneur-friendly bankruptcy laws encourage more entrepreneurship development at a societal level? We posit that if bankrupt entrepreneurs are excessively punished for failure, they may...