Lamoreaux, Naomi R.; Rosenthal, Jean-Laurent - National Bureau of Economic Research - 2023
entrepreneurs have been stymied by their investors. In this paper, we use a simple model to explore how outcomes might have been … different if entrepreneurs, instead of the investors, had control of their firms. We also explore the importance of legal rules … that enable entrepreneurs to lock in control even when, under one-share-one-vote governance, power would rest with their …