While existing research on business successions stresses the importance of the economic situation of family business in this context, research on women's entrepreneurship, however, suggests that women-led businesses may be less economically attractive for potential successors because of...

An important theoretical literature motivates collateral as a mechanism that mitigates adverse selection, credit rationing, and other inefficiencies that arise when borrowers hold ex ante private information. There is no clear empirical evidence regarding the central implication of this...