personal assets commingle with the firm's. Using administrative data from the U.S. Census Bureau, we document declines in … startup entry—particularly among riskier entrants—and closures of existing firms after these laws pass. Firm financial data …

whose personal assets commingle with the firm's. Using administrative data from the U.S. Census Bureau, we document declines … in startup entry, churning among entrants, and closures of existing firms after these laws pass. Firm financial data …

We study the effects of investor protection on the availability of external finance, entrepreneurship, and creation of … surplus between entrepreneurs and financiers. The results indicate that anything that increases (decreases) entrepreneurship …