Abstract
This paper empirically examines business starts, deaths, venture capital and patents in relation to U.S. public policy. The most consistent evidence in the data shows that lower levels of labor frictions and higher levels of SBIR awards are associated with more business starts and higher levels of venture capital per population. Counter to expectations, the data indicate a positive impact from the homestead exemption only among the bottom quartile homestead exemption states, and otherwise a negative impact. We analyze a variety of other policy instruments and compare the effects of policy in regular times with the financial crisis of 2008-2010.
| Original language | English |
|---|---|
| Pages (from-to) | 345-367 |
| Number of pages | 23 |
| Journal | Journal of Corporate Finance |
| Volume | 23 |
| DOIs | |
| Publication status | Published - Dec 2013 |
Keywords
- Bankruptcy
- Entrepreneurship
- G24
- G32
- G33
- G38
- K22
- K31
- Labor law
- Public policy
- Tax
- Venture capital
ASJC Scopus subject areas
- Business and International Management
- Finance
- Economics and Econometrics
- Strategy and Management
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Dive into the research topics of 'Public policy, entrepreneurship, and venture capital in the United States'. Together they form a unique fingerprint.Prizes
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Elsevier Award for Highly Cited Research for Public Policy, Entrepreneurship, and Venture Capital in the United States
Cumming, Douglas (Recipient), 2017
Prize: Prize (including medals and awards)