We investigate the role of labor unions in the performance of venture capital (VC)-backed firms. Using a large sample of initial public offering firms from 1983 to 2013, we find that VC-backed firms in highly unionized industries have lower Tobin's Q and are less likely to survive. This effect...

Viaticals are life insurance settlement contracts where the investor purchases a life insurance policy from a terminally ill policyholder. In these cases, the present value of the policyholder’s cash flows is substantially above the cash surrender value and below the face value of the policy....