Cumming, Douglas J. - In: Journal of entrepreneurial finance : JEF ; official … 16 (2012) 1, pp. 80-86
Two recent papers examine the impact of corporate bankruptcy laws on new business start-ups in 29 countries over 1990 … bankruptcy laws over the years studied. It is statistically inappropriate and inaccurate to treat bankruptcy laws as time … invariant, as in Peng et al. (2010) and Lee et al. (2010), particularly in view of the dramatic changes in bankruptcy laws over …