Firms can change their outstanding shares to manage their stock price levels. Those with lower stock prices tend to attract more speculative trading, which causes higher price volatility and may force their managers to excessively focus on short-term earnings at the expense of R&D and other...

While entrepreneurship characterizes an ideal form of self-sufficiency, in practice entrepreneurs find themselves subject to a complex network of support systems, which in effect exploit their talents, resources, and passion for structural risk mitigation. This dynamic infrastructure composed of...

Firms operating in innovative, technology-based environments account for an increasingly significant portion of all recent dual-class IPOs. Shedding new light on the determinants of dual-class structure among such firms, this article contributes to the long-standing debate over the desirability...