Using self-made billionaire entrepreneurs in China as a proxy for large Schumpeterian entrepreneurs, we examine the impact of institutional environment quality on the longevity of such entrepreneurs. We find no evidence that property rights institutions and contracting institutions, which are...

This study identifies one potential benefit of mandatory investor protection laws in weak investor protection countries neglected by the extant literature: laws help reduce firms' bonding costs to strong corporate governance. We argue that corporate insiders (outside investors) have little...

We study how venture capital firms (VCs), one major capital provider for early-stage entrepreneurial companies, respond to narcissistic entrepreneurs. VCs prefer to invest in companies with narcissistic entrepreneurs. Conditional on making an investment, VCs are more likely to impose contingent...