Many differences exist between founders that decide to maintain ownership of their firm and those that surrender ownership. Few studies have addressed what founders decide to do once their firm has been acquired, and even fewer have looked at this phenomenon from an international point of view....

The COVID-19 pandemic has posed a serious threat to the survival of Japanese firms, highlighting the importance of understanding how and why firms exit. In this paper, we use a rich firm-level dataset of Japanese firms to document how firm exit patterns have evolved between 2007 and 2017. Firm...