Personal Bankruptcy Law and Entrepreneurship

Geraldo Cerqueiro, María Penas and Robert Seamans

Working Papers from U.S. Census Bureau, Center for Economic Studies

Abstract: We study the effect of debtor protection on firm entry and exit dynamics. We find that more lenient personal bankruptcy laws lead to higher firm entry, especially in sectors with low entry barriers. We also find that debtor protection increases firm exit rates and that this effect is independent of firm age. Our results overall indicate that changes in debtor protection affect firm dynamics.

Keywords: Debtor Protection; Personal Bankruptcy; Entrepreneurship (search for similar items in EconPapers)
Pages: 29 pages
Date: 2017-01
New Economics Papers: this item is included in nep-bec, nep-cfn, nep-ent, nep-law, nep-mic and nep-sbm
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https://www2.census.gov/ces/wp/2017/CES-WP-17-42R.pdf Revised version, 2017 (application/pdf)
https://www2.census.gov/ces/wp/2017/CES-WP-17-42.pdf First version, 2017 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:cen:wpaper:17-42

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