While the importance of venture capital to the growth of small firms has been widely discussed during the past decade, little is know about the uses of equity capital, especially internal equity capital, by majority of small firms in the United States. Information from the Federal Reserve...

Does an entrepreneur-friendly bankruptcy law encourage more entrepreneurship development at a societal level? How does bankruptcy law affect entrepreneurship development around the world? Drawing on a real options perspective, we argue that if bankrupt entrepreneurs are excessively punished for...

Firm birth has recently been an important topic for many state governments. However, ways in which state governments can influence firm births are not obvious, and their efficiency in fostering firm births in comparison with their peers is even less so. Focusing on the birth of small U.S. firms,...

Studies on venture capital (VC) investment decision using espoused criteria and utility aggregation methods have shown mixed results. Using a latent decision structures approach from psychological scaling literature, we reduce random and systematic biases arising from VC decision environment. In...