Using an exogenous variation in entry barriers, we develop and test a theory of wage inequality due to higher levels of startup entry. Researchers have argued that startups generate greater inequality in the labor market because new ventures lead to a higher within- and between-firm dispersion...

This study investigates how the inevitable disclosure doctrine, a form of trade secret legal protection, affects venture capital (VC) investment. Using a data set of VC deals realized in the United States from 1980 to 2012, we find that a rule in favor of inevitable disclosure increases the...

We investigate the impact of trade secret legal protection on firm value in the context of acquisitions. On one hand, market value may increase because trade secret assets become better protected from rivals. On the other hand, market value may decrease because trade secret protection reduces...

We investigate the impact of trade secrets protection on firm value in the context of the market for corporate control. We propose that a stronger protection of trade secrets, by limiting outflows of trade-secret-related information to both competitors and potential buyers, might have two...