We analyze the relationship between managerial ownership and company performance, testing the incentive and … entrenchment hypothesis. Differently from previous literature, we focus on small and medium-sized private enterprises which … for the years 1997-2000. Our findings are that performance, measured by survey-based profit information, is increasing in …

' starting state, the existence of corporate shareholders improves firms' financial performance, multiple credit relationships … performance. …

startup characteristics to forecast the performance of newly started enterprises over a five years' time horizon. The … performance outcomes we consider are involuntary exit, above{average employment growth, a return on assets of above 20 percent … predict startup performance with either high or very high accuracy with the exception of high returns on assets where …