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| Tekijä: | Hasan, I. Wang, H. |
| Otsikko: | The US bankruptcy law and private equity financing: empirical evidence |
| Lehti: | Small business economics
2008 : JUN, VOL. 31:1, p. 5-19 |
| Asiasana: | bankruptcy venture capital entrepreneurship legislation USA |
| Kieli: | eng |
| Tiivistelmä: | This article approaches the question of the US personal bankruptcy law from an entrepreneurship perspective. In the United States, the law allows bankruptcy exemption, where entrepreneurs can protect part of their assets in business failure situations. The authors investigate the effects of the bankruptcy law on venture capital (hereafter as VC) investment using company level information. The results show that there is a negative relation between the amount of received VC and the bankruptcy exemption levels so the personal bankruptcy law seems to have influence the supply of VC to entrepreneurs. |
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