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How does personal bankruptcy law affect startups?

dc.contributor.authorCerqueiro, Geraldo
dc.contributor.authorPenas, María Fabiana
dc.date.accessioned2021-09-13T14:50:20Z
dc.date.available2021-09-13T14:50:20Z
dc.date.issued2017-07-01
dc.description.abstractWe exploit state-level changes in the amount of personal wealth individuals can protect under Chapter 7 to analyze the effect of debtor protection on the financing structure and performance of a representative panel of U.S. startups. The effect of increasing debtor protection depends on the entrepreneur's level of wealth. Firms owned by mid-wealth entrepreneurs whose assets become fully protected suffer a reduction in credit availability, employment, operating efficiency, and survival rates. We find no such negative effects for low-wealth and high-wealth owners. Our results are consistent with theories that predict that asset protection in bankruptcy leads to a redistribution of credit.pt_PT
dc.description.versioninfo:eu-repo/semantics/acceptedVersionpt_PT
dc.identifier.doi10.1093/rfs/hhw081
dc.identifier.eid85026868375
dc.identifier.issn0893-9454
dc.identifier.urihttp://hdl.handle.net/10400.14/34788
dc.identifier.wos000407206200008
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.titleHow does personal bankruptcy law affect startups?pt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.citation.endPage2554pt_PT
oaire.citation.issue7pt_PT
oaire.citation.startPage2523pt_PT
oaire.citation.titleReview of Financial Studiespt_PT
oaire.citation.volume30pt_PT
person.familyNameCerqueiro
person.givenNameGeraldo
person.identifier.orcid0000-0002-6709-1512
person.identifier.scopus-author-id36715940800
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT
relation.isAuthorOfPublication77ac0648-fe76-4531-90ff-cc748fc03264
relation.isAuthorOfPublication.latestForDiscovery77ac0648-fe76-4531-90ff-cc748fc03264

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