If there is an economically important optimal capital structure, then firms that deviate too far from the optimum will face greater risk of failure or acquisition. Using data from the oil industry we find no significant evidence that capital structure policy affects acquisition or failure...

We assess the diverse roles of institutional investors in impacting survival and performance of chronically underperforming firms and contrast the results for consistently overperforming firms. We find material differences in institutional investor roles between these two samples....

We focus on firms that chronically underperform and evaluate ways that institutional investors can facilitate the redeployment of assets to higher valued uses. Our evidence indicates that institutional holdings affect firm survival. Increases in institutional holdings are associated with...

Using a large sample of fund-years, we investigate the performance reporting behaviors of general partners (GPs) and limited partners (LPs) of Venture Capital (VC) funds. Self-reporting by GPs raises the concern that the information investors rely on may be biased, either due to selective...