John Armour

TL;DR: In this article, the economic and legal determinants of venture capital investment, fundraising and exits were compared across 15 countries and 13 years of data spanning an entire business cycle, and the role of bankruptcy law, hitherto ignored in the literature, was investigated.

TL;DR: This paper investigated the link between bankruptcy and entrepreneurship using data on self employment over 16 years (1990-2005) and 15 countries in Europe and North America and found that bankruptcy law has a statistically and economically significant effect on self-employment rates when controlling for GDP growth, MSCI stock returns, and a variety of other legal and economic factors.

TL;DR: The authors compare the economic and legal determinants of venture capital investment, fundraising, and exits across 15 countries and 14 years of data spanning an entire business cycle and show that liberal bankruptcy laws stimulate entrepreneurial demand for venture capital; government programs more often hinder than help the development of private equity, and that the legal environment matters as much as the strength of stock markets.

TL;DR: In this paper, the basic governance structure of corporate law is discussed, and significant corporate actions are discussed as follows: 1. What is Corporate Law? 2. Agency Problems and Legal Strategies 3. The Basic Governance Structure 4. Creditor Protection 5. Related Party Transactions 6. Control Transactions 8. Issuers and Investor Protection 9. Enforcement 10. Convergence in Corporate Law 11. Beyond the Anatomy

TL;DR: The authors investigated the relationship between bankruptcy laws and entrepreneurship using data on self-employment over 16 years (1990�2005) and fifteen countries in Europe and North America, and found that bankruptcy law has a statistically and economically significant effect on selfemployment rates when controlling for GDP growth, MSCI stock returns, and a variety of other legal and economic factors.