We document a positive effect of product market competition (PMC) on venture capital (VC) staging. Employing large tariff rate reductions as an exogenous shock to PMC, we find that large tariff reductions lead to a greater likelihood of staged financing and a larger number of financing rounds....

The COVID-19 pandemic brought about a shift in entrepreneurial opportunities in theUnited States. In this paper, we proxy entrepreneurial processes by examining housing prices indifferent regions of the United States. Housing prices capture the movement in people, taxdynamics, and behavioral...