Does an institutional change that eases exit via bankruptcy reform enhance venture growth? We take advantage of a quasi-natural experiment in Japan to examine this question. Using longitudinal data over a 10-year period, we find that bankruptcy reform not only increases the rates of bankruptcy...

We examine the role that changes to the institutional environment play in the formation, exit, and performance of ventures. We do so by taking advantage of two natural experiments in Japan that relates to the exit of a venture: successful IPO, and failure in bankruptcy. In our first study, we...

Research Summary: Governments in emerging economies often use institutional intermediaries to promote entrepreneurship, and bridge the void between ventures and public funding. While prior literature describes what institutional intermediaries do, it leaves open how intermediaries support...

This review paper summarizes some current literature regarding entrepreneurship in dynamic environments, with a specific focus on the Chinese and U.S. contexts. In the first section, we review research on how entrepreneurs manage the environmental dynamism that technology changes often trigger...