Josh Lerner and William A. Sahlman
New enterprises don't exist in a vacuum: They rise or fall depending on myriad contextual factors, all of them interrelated, and all of them affected by government policy. U.S. lawmakers must carefully consider the effects of interventions in at least 12 areas, ranging from capital markets to tax treatment to intellectual property to health care. Their decisions could shore up--or further weaken--what has long been America's greatest economic asset.
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25 Jul 2014 - Bloomberg Businessweek
Critics calling for regulation of alternative lenders have pointed to high borrowing costs, which often top 50 percent on an annualized basis, and lack of transparency, especially among the brokers many lenders rely on to bring in business. On the other hand, "there are some who say the marketplace is solving the problem," said Karen Mills, former head of the Small Business Administration, in a recent interview. "You have innovators and entrepreneurs coming in, and you don't want to get in the way of this too soon."
22 Jul 2014 - Inc.
Karen Mills' Harvard report on the state of small business lending paints a bleak picture, with the exception of technology.
22 Jul 2014 - The Wall Street Journal
Some tax experts testifying at Tuesday's hearing cautioned that narrow legislation could prove counterproductive even if it successfully deters some companies from reincorporating overseas. For instance, raising the threshold of a foreign company's ownership for inversions could prompt bigger foreign companies to get involved in the transactions. That could result in the U.S. portion of the company shifting more of its jobs overseas, including high-paying headquarters jobs, said Mihir Desai, finance professor at Harvard Business School.