We investigate how VC participation affects the failure of startups. Using a unique data set of the survival of peer-to-peer (P2P) platforms in China, we identify two types of failures, bankruptcy, and run off with investors' money. The Competing Risk Model results show that while VC...

We examine how real investment decisions of younger and older Chief Executive Officers (CEOs) are affected by their career concerns. Relative to their older counterparts, younger CEOs are more likely to enter new lines of business and exit from existing ones. They prefer growth through...

Using the relaxation of last-in-first-out (LIFO) seniority rule in Sweden as an exogenous shock to unemployment risks, we show that employees facing increased unemployment risks are more likely to become entrepreneurs. The effect is more pronounced for employees with longer tenure and for male...