The Impact of Bankruptcy Laws on the Entrepreneurial Decision: Are Entrepreneurs Even Aware?

From: Journal of Applied Management and Entrepreneurship | Date: October 1, 2007| Author: Herrmann, Pol; Van Auken, Howard; Kaufmann, Jeffrey B | Copyright information

Executive Summary

Central to the kaleidoscope perspective of entrepreneurial careers is the idea of balance. Part of this balance is managing the tension between the risks inherent in the entrepreneurial effort and the need to financially protect the entrepreneur's family and other obligations. States can help entrepreneurs manage this tension by exempting certain property from bankruptcy thereby offering these economic actors some financial protection should the effort fail. Several r...

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