NBER Papers in JEL Code G3: Financial Economics - Corporate Finance and Governance

2022
w29938 Marco Del Angel
Gary Richardson

Independent Regulators and Financial Stability: Evidence from Gubernatorial Campaigns and a Progressive Era Policy Experiment
w29839 Itay Goldstein
Alexandr Kopytov
Lin Shen
Haotian Xiang

On ESG Investing: Heterogeneous Preferences, Information, and Asset Prices
w29908 Kilian Huber
Estimating General Equilibrium Spillovers of Large-Scale Shocks
w29907 Paul A. Gompers
Vladimir Mukharlyamov

Transferable Skills? Founders as Venture Capitalists
w29904 Viral V. Acharya
Matteo Crosignani
Tim Eisert
Sascha Steffen

Zombie Lending: Theoretical, International and Historical Perspectives
w29890 Bo Becker
Victoria Ivashina

Disruption and Credit Markets
w29888 Falk Bräuning
Victoria Ivashina
Ali Ozdagli

High-Yield Debt Covenants and Their Real Effects
w29874 Daron Acemoglu
Alex He
Daniel le Maire

Eclipse of Rent-Sharing: The Effects of Managers' Business Education on Wages and the Labor Share in the US and Denmark
w29872 Jason Roderick Donaldson
Lukas Kremens
Giorgia Piacentino

Sovereign Bond Restructuring: Commitment vs. Flexibility
w29868 Wenli Li
Costas Meghir
Florian Oswald

Consumer Bankruptcy, Mortgage Default and Labor Supply
w29850 Nikolaos Artavanis
Brian Jonghwan Lee
Stavros Panageas
Margarita Tsoutsoura

Cross-subsidization of Bad Credit in a Lending Crisis
w29841 John Graham
Presidential Address: Corporate Finance and Reality
w29827 Robin Greenwood
Toomas Laarits
Jeffrey Wurgler

Stock Market Stimulus
w29816 Patrick Agte
Arielle Bernhardt
Erica M. Field
Rohini Pande
Natalia Rigol

Investing in the Next Generation: The Long-Run Impacts of a Liquidity Shock
w29790 Huaizhi Chen
Lauren Cohen
Weiling Liu

Calling All Issuers: The Market for Debt Monitoring
w29782 Erik P. Gilje
Jérôme P. Taillard
Linghang Zeng

Human Capital Reallocation Across Firms: Evidence from Idiosyncratic Shocks
w29775 Zhiguo He
Guanmin Liao
Baolian Wang

What Gets Measured Gets Managed: Investment and the Cost of Capital
w29746 John W. Barry
Murillo Campello
John Graham
Yueran Ma

Corporate Flexibility in a Time of Crisis
w29743 Michael Ewens
Arpit Gupta
Sabrina T. Howell

Local Journalism under Private Equity Ownership
w29720 Michael Sockin
Wei Xiong

Decentralization Through Tokenization
w29712 Barney Hartman-Glaser
Simon Mayer
Konstantin Milbradt

Waiting for Capital: Dynamic Intermediation in Illiquid Markets
w29705 Corina Boar
Denis Gorea
Virgiliu Midrigan

Why Are Returns to Private Business Wealth So Dispersed?
w29676 Efraim Benmelech
Michal Zator

Robots and Firm Investment
w29655 John M. Barrios
Thomas G. Wollmann

A New Era of Midnight Mergers: Antitrust Risk and Investor Disclosures
w29649 Isaac Ehrlich
Yong Yin

A Cross-Country Comparison of Old Age Financial Readiness in Asian Countries vs. the United States: The Case of Japan and the Republic of Korea
w29642 Ginger Zhe Jin
Mario Leccese
Liad Wagman

How Do Top Acquirers Compare in Technology Mergers? New Evidence from an S&P Taxonomy
w29632 Zhiguo He
Jian Li

Intermediation via Credit Chains
w29627 Emanuele Colonnelli
Spyridon Lagaras
Jacopo Ponticelli
Mounu Prem
Margarita Tsoutsoura

Revealing Corruption: Firm and Worker Level Evidence from Brazil
2021
w29624 Lauren Cohen
Bo Li

The Political Economy of Anti-Bribery Enforcement
w29606 Viral V. Acharya
Simone Lenzu
Olivier Wang

Zombie Lending and Policy Traps
w29560 Thomas Philippon
Olivier Wang

Let the Worst One Fail: A Credible Solution to the Too-Big-To-Fail Conundrum
w29532 Michael Ewens
Joan Farre-Mensa

Private or Public Equity? The Evolving Entrepreneurial Finance Landscape
w29504 Song Ma
Technological Obsolescence
w29502 Tim Jenkinson
Hyeik Kim
Michael S. Weisbach

Buyouts: A Primer
w29397 Manuel Amador
Javier Bianchi

Bank Runs, Fragility, and Credit Easing
w29388 Ge Bai
Daniel Jiménez
Phillip Phan
Luis E. Quintero
Alessandro Rebucci
Xian Sun

The Financial Fragility of For-profit Hospitals: Evidence from the COVID-19 Pandemic
w29322 Gary B. Gorton
Jill Grennan
Alexander K. Zentefis

Corporate Culture
w29310 Ulrich Doraszelski
João F. Gomes
Felix Nockher

Dynamic Strategic Corporate Finance: A Tug of War with Financial Frictions
w29303 Joshua Aizenman
Yin-Wong Cheung
Xingwang Qian

International Reserve Management, Global Financial Shocks, and Firms' Investment in Emerging Market Economies
w29293 Pierre-Olivier Gourinchas
Ṣebnem Kalemli-Özcan
Veronika Penciakova
Nick Sander

Fiscal Policy in the Age of COVID: Does it 'Get in all of the Cracks?'
w29284 Bernadette A. Minton
Alvaro G. Taboada
Rohan Williamson

Bank Mergers, Acquirer Choice and Small Business Lending: Implications for Community Investment
w29223 Jeremy I. Bulow
Paul D. Klemperer

Misdiagnosing Bank Capital Problems
w29219 Borja Larrain
Gordon M. Phillips
Giorgo Sertsios
Francisco Urzúa

The Effects of Going Public on Firm Performance and Commercialization Strategy: Evidence from International IPOs
w29207 Erasmo Giambona
Anil Kumar
Gordon M. Phillips

Hedging and Competition
w29205 Itzhak Ben-David
Mark J. Johnson
René M. Stulz

Why Did Small Business Fintech Lending Dry Up During March 2020?
w29201 Benjamin Schoefer
The Financial Channel of Wage Rigidity
w29189 Song Ma
Justin Murfin
Ryan D. Pratt

Young Firms, Old Capital
w29174 Jan Bena
Isil Erel
Daisy Wang
Michael S. Weisbach

Specialized Investments and Firms' Boundaries: Evidence from Textual Analysis of Patents
w29143 Michael Ewens
Kairong Xiao
Ting Xu

Regulatory Costs of Being Public: Evidence from Bunching Estimation
w29136 Johannes Stroebel
Jeffrey Wurgler

What Do You Think About Climate Finance?
w29109 Nicolas Crouzet
Janice C. Eberly

Intangibles, Markups, and the Measurement of Productivity Growth
w29106 René M. Stulz
James G. Tompkins
Rohan Williamson
Zhongxia (Shelly) Ye

Why do Bank Boards have Risk Committees?
w29082 Clemens Sialm
Qifei Zhu

Currency Management by International Fixed Income Mutual Funds
w29036 Andrey Malenko
Nadya Malenko
Chester S. Spatt

Creating Controversy in Proxy Voting Advice
w29030 Ralph S. J. Koijen
Motohiro Yogo

The Evolution from Life Insurance to Financial Engineering
w29005 Laurent Bouton
Aniol Llorente-Saguer
Antonin Macé
Dimitrios Xefteris

Voting in Shareholders Meetings
w28988 Nicolas Crouzet
Janice C. Eberly

Rents and Intangible Capital: A Q+ Framework
w28984 Lavender Yang
Nicholas Z. Muller
Pierre Jinghong Liang

The Real Effects of Mandatory CSR Disclosure on Emissions: Evidence from the Greenhouse Gas Reporting Program
w28974 Wenzhi Ding
Chen Lin
Thomas Schmid
Michael S. Weisbach

Risk Perceptions, Board Networks, and Directors' Monitoring
w28971 Murillo Campello
Gaurav Kankanhalli
Hyunseob Kim

Delayed Creative Destruction: How Uncertainty Shapes Corporate Assets
w28970 Harry DeAngelo
Andrei S. Gonçalves
René M. Stulz

Leverage and Cash Dynamics
w28967 Xavier Gabaix
Ralph S. J. Koijen

In Search of the Origins of Financial Fluctuations: The Inelastic Markets Hypothesis
w28964 Xuelin Li
Andrew W. Lo
Richard T. Thakor

Paying off the Competition: Market Power and Innovation Incentives
w28910 Laura Alfaro
Mauricio Calani
Liliana Varela

Currency Hedging: Managing Cash Flow Exposure
w28908 Ross Levine
Chen Lin
Wensi Xie

Competition Laws, Governance, and Firm Value
w28901 Bronson Argyle
Benjamin Iverson
Taylor D. Nadauld
Christopher Palmer

Personal Bankruptcy and the Accumulation of Shadow Debt
w28893 Alma Cohen
Moshe Hazan
David Weiss

Politics and Gender in the Executive Suite
w28856 Song Ma
Joy Tianjiao Tong
Wei Wang

Bankrupt Innovative Firms
w28837 Kenneth R. Ahern
Lei Kong
Xinyan Yan

The Conglomerate Network
w28815 Andrea L. Eisfeldt
Antonio Falato
Mindy Z. Xiaolan

Human Capitalists
w28800 Sean Cao
Wei Jiang
Junbo L. Wang
Baozhong Yang

From Man vs. Machine to Man + Machine: The Art and AI of Stock Analyses
w28798 Erik P. Gilje
Michael D. Wittry

Is Public Equity Deadly? Evidence from Workplace Safety and Productivity Tradeoffs in the Coal Industry
w28778 Sinan Gokkaya
Xi Liu
René M. Stulz

Do Firms with Specialized M&A Staff Make Better Acquisitions?
w28766 Kilian Huber
Volker Lindenthal
Fabian Waldinger

Discrimination, Managers, and Firm Performance: Evidence from "Aryanizations" in Nazi Germany
w28732 Jose Pizarro
Eduardo S. Schwartz

Optimal Harvest with Multiple Fishing Zones, Endogenous Price and Global Uncertainty
w28668 Wei Jiang
Yuehua Tang
Rachel (Jiqiu) Xiao
Vincent Yao

Surviving the Fintech Disruption
w28709 Cyrus Aghamolla
Pinar Karaca-Mandic
Xuelin Li
Richard T. Thakor

Merchants of Death: The Effect of Credit Supply Shocks on Hospital Outcomes
w28679 Sophie Calder-Wang
Paul Gompers
Patrick Sweeney

Venture Capital's "Me Too" Moment
w28640 Aloisio Araujo
Rafael Ferreira
Spyridon Lagaras
Flavio Moraes
Jacopo Ponticelli
Margarita Tsoutsoura

The Labor Effects of Pro-labor Bias in Bankruptcy
w28615 Itay Goldstein
Chester S. Spatt
Mao Ye

Big Data in Finance
w28609 Dhruv Aggarwal
Ofer Eldar
Yael Hochberg
Lubomir P. Litov

The Rise of Dual-Class Stock IPOs
w28595 Harrison Hong
Neng Wang
Jinqiang Yang

Welfare Consequences of Sustainable Finance
w28550 Mark Borgschulte
Marius Guenzel
Canyao Liu
Ulrike Malmendier

CEO Stress, Aging, and Death
w28522 Jarkko Harju
Simon Jäger
Benjamin Schoefer

Voice at Work
w28474 Atul Gupta
Sabrina T. Howell
Constantine Yannelis
Abhinav Gupta

Does Private Equity Investment in Healthcare Benefit Patients? Evidence from Nursing Homes
w28463 Marina Gertsberg
Johanna Mollerstrom
Michaela Pagel

Gender Quotas and Support for Women in Board Elections
w28441 Azi Ben-Rephael
Bruce I. Carlin
Zhi Da
Ryan D. Israelsen

Uncovering the Hidden Effort Problem
w28418 Pierre-Olivier Gourinchas
Ṣebnem Kalemli-Özcan
Veronika Penciakova
Nick Sander

COVID-19 and SMEs: A 2021 "Time Bomb"?
w28384 Andrea Lanteri
Adriano A. Rampini

Constrained-Efficient Capital Reallocation
w28378 Peter M. DeMarzo
Ron Kaniel

Contracting in Peer Networks
w28377 Douglas W. Diamond
Yunzhi Hu
Raghuram G. Rajan

Liquidity, Pledgeability, and the Nature of Lending
w28367 Aifan Ling
Jianjun Miao
Neng Wang

Robust Financial Contracting and Investment
w28357 Susan F. Cherry
Erica Xuewei Jiang
Gregor Matvos
Tomasz Piskorski
Amit Seru

Government and Private Household Debt Relief during COVID-19
w28341 Robert C. Merton
Richard T. Thakor

No-fault Default, Chapter 11 Bankruptcy, and Financial Institutions
2020
w28298 Patrick Bolton
Ye Li
Neng Wang
Jinqiang Yang

Dynamic Banking and the Value of Deposits
w28269 Christine Blandhol
Magne Mogstad
Peter Nilsson
Ola L. Vestad

Do Employees Benefit from Worker Representation on Corporate Boards?
w28242 Marco Di Maggio
Angela T. Ma
Emily Williams

In the Red: Overdrafts, Payday Lending and the Underbanked
w28216 Wolfgang Keller
Teresa Molina
William W. Olney

The Gender Gap Among Top Business Executives
w28211 Thomas Philippon
Efficient Programs to Support Businesses During and After Lockdowns
w28198 G. William Schwert
The Remarkable Growth in Financial Economics, 1974-2020
w28197 Òscar Jordà
Martin Kornejew
Moritz Schularick
Alan M. Taylor

Zombies at Large? Corporate Debt Overhang and the Macroeconomy
w28196 Chris Florackis
Christodoulos Louca
Roni Michaely
Michael Weber

Cybersecurity Risk
w28185 Bernard Dumas
Tymur Gabuniya
Richard C. Marston

Firms' Exposures to Geographic Risks
w28160 Tania Babina
Alex Xi He
Sabrina T. Howell
Elisabeth Ruth Perlman
Joseph Staudt

The Color of Money: Federal vs. Industry Funding of University Research
w28151 Olivia S. Kim
Jonathan A. Parker
Antoinette Schoar

Revenue Collapses and the Consumption of Small Business Owners in the Early Stages of the COVID-19 Pandemic
w28114 Tetyana Balyuk
Nagpurnanand R. Prabhala
Manju Puri

Indirect Costs of Government Aid and Intermediary Supply Effects: Lessons From the Paycheck Protection Program
w28104 Robin Greenwood
Benjamin Iverson
David Thesmar

Sizing up Corporate Restructuring in the COVID Crisis
w28096 Viral V. Acharya
Siddharth Vij

Foreign Currency Borrowing of Corporations as Carry Trades: Evidence from India
w28088 Yueran Ma
José A. Scheinkman

Going-Concern Debt of Financial Intermediaries
w28069 Luis Dau
Randall Morck
Bernard Yeung

Corporate Governance, Business Group Governance and Economic Development Traps
w28054 Mao Ye
Miles Zheng
Xiongshi Li

Price Ceiling, Market Structure, and Payout Policies
w28010 Michael Boutros
Itzhak Ben-David
John R. Graham
Campbell R. Harvey
John W. Payne

The Persistence of Miscalibration
w27997 Dany Bahar
Prithwiraj Choudhury
Britta Glennon

An Executive Order Worth $100 Billion: The Impact of an Immigration Ban's Announcement on Fortune 500 Firms' Valuation
w27990 Lauren Cohen
Umit G. Gurun
Quoc H. Nguyen

The ESG-Innovation Disconnect: Evidence from Green Patenting
w27976 Itzhak Ben-David
Utpal Bhattacharya
Stacey E. Jacobsen

Do Acquirer Announcement Returns Reflect Value Creation?
w27950 Sean Cao
Wei Jiang
Baozhong Yang
Alan L. Zhang

How to Talk When a Machine is Listening?: Corporate Disclosure in the Age of AI
w27945 Gabriel Chodorow-Reich
Olivier Darmouni
Stephan Luck
Matthew C. Plosser

Bank Liquidity Provision Across the Firm Size Distribution
w27942 Frederik P. Schlingemann
René M. Stulz

Have Exchange-Listed Firms Become Less Important for the Economy?
w27935 Juliane Begenau
Saki Bigio
Jeremy Majerovitz
Matias Vieyra

A Q-Theory of Banks
w27931 Min Dai
Xavier Giroud
Wei Jiang
Neng Wang

A q Theory of Internal Capital Markets
w27912 Mark Carlson
Matthew S. Jaremski

Liquidity Requirements, Free-Riding, and the Implications for Financial Stability Evidence from the early 1900s
w27889 Paul A. Gompers
Steven N. Kaplan
Vladimir Mukharlyamov

Private Equity and COVID-19
w27883 Vincent Glode
Christian Opp

Renegotiation in Debt Chains
w27877 Pierre-Olivier Gourinchas
Ṣebnem Kalemli-Özcan
Veronika Penciakova
Nick Sander

Estimating SME Failures in Real Time: An Application to the COVID-19 Crisis
w27873 Jan Bena
Serdar Dinc
Isil Erel

The International Propagation of Economic Downturns Through Multinational Companies: The Real Economy Channel
w27871 Mara Faccio
John J. McConnell

Impediments to the Schumpeterian Process in the Replacement of Large Firms
w27853 Steven N. Kaplan
Morten Sorensen
Anastasia A. Zakolyukina

What Is CEO Overconfidence? Evidence from Executive Assessments
w27847 Tarek Alexander Hassan
Tony Zhang

The Economics of Currency Risk
w27843 Jules H. van Binsbergen
Xiao Han
Alejandro Lopez-Lira

Man vs. Machine Learning: The Term Structure of Earnings Expectations and Conditional Biases
w27829 Harrison Hong
Jeffrey D. Kubik
Neng Wang
Xiao Xu
Jinqiang Yang

Pandemics, Vaccines and an Earnings Damage Function
w27824 Paul Gompers
Will Gornall
Steven N. Kaplan
Ilya A. Strebulaev

Venture Capitalists and COVID-19
w27810 Lin William Cong
Ye Li
Neng Wang

Token-Based Platform Finance
w27769 Michael Ewens
Nadya Malenko

Board Dynamics over the Startup Life Cycle
w27745 Erol Akcay
David Hirshleifer

Social Finance: Cultural Evolution, Transmission Bias and Market Dynamics
w27735 David Hirshleifer
Joshua Plotkin

Moonshots, Investment Booms, and Selection Bias in the Transmission of Cultural Traits
w27732 Saki Bigio
Liyan Shi

Repurchase Options in the Market for Lemons
w27707 Scott R. Baker
Brian Baugh
Marco C. Sammon

Measuring Customer Churn and Interconnectedness
w27701 Joao A. C. Santos
S. Vish Viswanathan

Bank Syndicates and Liquidity Provision
w27675 Anusha Chari
Jennifer S. Rhee

The Return to Capital in Capital-Scarce Countries
w27642 Amir Kermani
Yueran Ma

Asset Specificity of Non-Financial Firms
w27641 Amir Kermani
Yueran Ma

Two Tales of Debt
w27635 Marius Guenzel
Ulrike Malmendier

Behavioral Corporate Finance: The Life Cycle of a CEO Career
w27629 Robert P. Bartlett III
Adair Morse

Small Business Survival Capabilities and Policy Effectiveness: Evidence from Oakland
w27601 Viral V. Acharya
Sascha Steffen

The Risk of Being a Fallen Angel and the Corporate Dash for Cash in the Midst of COVID
w27593 Benjamin Bennett
René M. Stulz
Zexi Wang

Does Joining the S&P 500 Index Hurt Firms?
w27591 Jesse Davis
Adair Morse
Xinxin Wang

The Leveraging of Silicon Valley
w27588 Matthew J. Higgins
Mathias J. Kronlund
Ji Min Park
Joshua Pollet

The Role of Assets In Place: Loss of Market Exclusivity and Investment
w27559 Antonio Falato
Itay Goldstein
Ali Hortaçsu

Financial Fragility in the COVID-19 Crisis: The Case of Investment Funds in Corporate Bond Markets
w27547 Ricardo Correa
Linda S. Goldberg

Bank Complexity, Governance, and Risk
w27537 Viral V. Acharya
Lea Borchert
Maximilian Jager
Sascha Steffen

Kicking the Can Down the Road: Government Interventions in the European Banking Sector
w27529 Itay Goldstein
Shijie Yang
Luo Zuo

The Real Effects of Modern Information Technologies: Evidence from the EDGAR Implementation
w27517 Viral V. Acharya
Soku Byoun
Zhaoxia Xu

The Sensitivity of Cash Savings to the Cost of Capital
w27515 Lysle Boller
Fiona Scott Morton

Testing the Theory of Common Stock Ownership
w27501 Bo Li
Jacopo Ponticelli

Going Bankrupt in China
w27499 Manuel Adelino
William B. McCartney
Antoinette Schoar

The Role of Government and Private Institutions in Credit Cycles in the U.S. Mortgage Market
w27487 Antoinette Schoar
Kelvin Yeung
Luo Zuo

The Effect of Managers on Systematic Risk
w27442 Martin Goetz
Luc Laeven
Ross Levine

Do Bank Insiders Impede Equity Issuances?
w27382 Jules H. van Binsbergen
Christian C. Opp

The Effectiveness of Life-Preserving Investments in Times of COVID-19
w27367 Jules H. van Binsbergen
Duration-Based Stock Valuation: Reassessing Stock Market Performance and Volatility
w27363 Qiping Xu
Eric Zwick

Tax Policy and Abnormal Investment Behavior
w27361 Vincent Glode
Christian C. Opp
Ruslan Sverchkov

To Pool or Not to Pool? Security Design in OTC Markets
w27353 Gary B. Gorton
Alexander K. Zentefis

Corporate Culture as a Theory of the Firm
w27316 Victoria Ivashina
Boris Vallee

Weak Credit Covenants
w27299 Theresa Kuchler
Yan Li
Lin Peng
Johannes Stroebel
Dexin Zhou

Social Proximity to Capital: Implications for Investors and Firms
w27296 Michael Ewens
Ramana Nanda
Christopher T. Stanton

The Evolution of CEO Compensation in Venture Capital Backed Startups
w27251 Joshua D. Rauh
Irina Stefanescu
Stephen P. Zeldes

Cost Saving and the Freezing of Corporate Pension Plans
w27218 Harrison Hong
Neng Wang
Jinqiang Yang

Implications of Stochastic Transmission Rates for Managing Pandemic Risks
w27213 Gonzalo Asis
Anusha Chari
Adam Haas

In Search of Distress Risk in Emerging Markets
w27212 Jonathan T. Vu
Benjamin K. Kaplan
Shomesh Chaudhuri
Monique K. Mansoura
Andrew W. Lo

Financing Vaccines for Global Health Security
w27208 Murillo Campello
Gaurav Kankanhalli
Pradeep Muthukrishnan

Corporate Hiring under COVID-19: Labor Market Concentration, Downskilling, and Income Inequality
w27183 John M. Barrios
Yael V. Hochberg
Hanyi Yi

Launching with a Parachute: The Gig Economy and New Business Formation
w27160 Augustin Landier
David Thesmar

Earnings Expectations in the COVID Crisis
w27146 Sai Krishna Kamepalli
Raghuram Rajan
Luigi Zingales

Kill Zone
w27107 Zhangkai Huang
Gordon M. Phillips
Jialun Yang
Yi Zhang

Education and Innovation: The Long Shadow of the Cultural Revolution
w27106 Rüdiger Fahlenbrach
Kevin Rageth
René M. Stulz

How Valuable is Financial Flexibility when Revenue Stops? Evidence from the COVID-19 Crisis
w27095 João Granja
Christos Makridis
Constantine Yannelis
Eric Zwick

Did the Paycheck Protection Program Hit the Target?
w27077 Manuel Adelino
Miguel A. Ferreira
Mariassunta Giannetti
Pedro Pires

Trade Credit and the Transmission of Unconventional Monetary Policy
w27058 Scott R. Baker
Stephen Teng Sun
Constantine Yannelis

Corporate Taxes and Retail Prices
w27055 Wenzhi Ding
Ross Levine
Chen Lin
Wensi Xie

Corporate Immunity to the COVID-19 Pandemic
w27032 Jian Chu
Raymond Fisman
Songtao Tan
Yongxiang Wang

Hometown Ties and the Quality of Government Monitoring: Evidence from Rotation of Chinese Auditors
w27022 Craig Doidge
G. Andrew Karolyi
René M. Stulz

Is Financial Globalization in Reverse After the 2008 Global Financial Crisis? Evidence from Corporate Valuations
w26958 Kathleen Kahle
René M. Stulz

Why Are Corporate Payouts So High in the 2000s?
w26898 Andrew B. Abel
Stavros Panageas

An Analytic Framework For Interpreting Investment Regressions In The Presence Of Financial Constraints
w26856 Charles W. Calomiris
Harry Mamaysky
Ruoke Yang

Measuring the Cost of Regulation: A Text-Based Approach
w26843 Anusha Chari
The International Market for Corporate Control
w26830 Yueran Ma
Tiziano Ropele
David Sraer
David Thesmar

A Quantitative Analysis of Distortions in Managerial Forecasts
w26823 Mehran Ebrahimian
Jessica Wachter

Risks to Human Capital
w26802 Patrick Bolton
Neng Wang
Jinqiang Yang

Leverage Dynamics and Financial Flexibility
w26799 Efraim Benmelech
Nitish Kumar
Raghuram Rajan

The Secured Credit Premium and the Issuance of Secured Debt
w26762 Isil Erel
Yeejin Jang
Michael S. Weisbach

The Corporate Finance of Multinational Firms
w26717 Sabrina T. Howell
J. David Brown

Do Cash Windfalls Affect Wages? Evidence from R&D Grants to Small Firms
w26714 Murillo Campello
Gustavo S. Cortes
Fabricio d'Almeida
Gaurav Kankanhalli

Exporting Uncertainty: The Impact of Brexit on Corporate America
w26710 Christoffer Koch
Gary Richardson
Patrick Van Horn

Countercyclical Capital Buffers: A Cautionary Tale
w26656 Haoyuan Ding
Hanming Fang
Shu Lin
Kang Shi

Equilibrium Consequences of Corruption on Firms: Evidence from China's Anti-Corruption Campaign
w26637 Efraim Benmelech
Nitish Kumar
Raghuram Rajan

The Decline of Secured Debt
w26628 Andrew B. Abel
Stavros Panageas

Precautionary Saving in a Financially-Constrained Firm
w26626 Jun Kyung Auh
Jennie Bai

Cross-Asset Information Synergy in Mutual Fund Families
w26609 Tarek Alexander Hassan
Stephan Hollander
Laurence van Lent
Ahmed Tahoun

The Global Impact of Brexit Uncertainty
2019
w26545 Hui Tong
Shang-Jin Wei

Endogenous Corporate Leverage Response to a Safer Macro Environment: The Case of Foreign Exchange Reserve Accumulation
w26543 Lucian A. Bebchuk
Scott Hirst

Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy
w26538 Lu Zhang
Q-factors and Investment CAPM
w26523 Sudheer Chava
Alexander Oettl
Manpreet Singh

Does a One-Size-Fits-All Minimum Wage Cause Financial Stress for Small Businesses?
w26519 Simon Jäger
Benjamin Schoefer
Jörg Heining

Labor in the Boardroom
w26514 Arpit Gupta
Stijn Van Nieuwerburgh

Valuing Private Equity Strip by Strip
w26495 Joseph J. French
Ryosuke Fujitani
Yukihiro Yasuda

Does Stock Market Listing Impact Investment in Japan?
w26486 Sabrina T. Howell
Filippo Mezzanotti

Financing Entrepreneurship through the Tax Code: Angel Investor Tax Credits
w26458 Sergey Chernenko
Isil Erel
Robert Prilmeier

Why Do Firms Borrow Directly from Nonbanks?
w26446 Kenichi Ueda
Somnath Sharma

Listing Advantages Around the World
w26441 Chen Lin
Thomas Schmid
Michael S. Weisbach

Climate Change, Operating Flexibility and Corporate Investment Decisions
w26392 Stephen G. Dimmock
Jiekun Huang
Scott J. Weisbenner

Give Me Your Tired, Your Poor, Your High-Skilled Labor: H-1B Lottery Outcomes and Entrepreneurial Success
w26372 Hang Bai
Erica X.N. Li
Chen Xue
Lu Zhang

Does Costly Reversibility Matter for U.S. Public Firms?
w26371 Steven J. Davis
John C. Haltiwanger
Kyle Handley
Ben Lipsius
Josh Lerner
Javier Miranda

The (Heterogenous) Economic Effects of Private Equity Buyouts
w26344 Charles W. Calomiris
Yehuda Izhakian
Jaime F. Zender

Underwriter Reputation, Issuer-Underwriter Matching, and SEO Performance
w26317 Michael Ewens
Joan Farre-Mensa

The Deregulation of the Private Equity Markets and the Decline in IPOs
w26265 Richard Holden
Anup Malani

The ICO Paradox: Transactions Costs, Token Velocity, and Token Value
w26171 Lucian A. Bebchuk
Alon Brav
Wei Jiang
Thomas Keusch

Dancing With Activists
w26169 Hans B. Christensen
Luzi Hail
Christian Leuz

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Deadlock on the Board
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Skin or Skim? Inside Investment and Hedge Fund Performance
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Decomposing Firm Value
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Simpler Better Market Betas
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Haitao Mo
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Security Analysis: An Investment Perspective
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Mark T. Leary

CEO-Board Dynamics
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Mauricio Larrain
Sergio L. Schmukler
Tomas Williams

Search for Yield in Large International Corporate Bonds: Investor Behavior and Firm Responses
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Ryan H. Peters
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Measuring Intangible Capital with Market Prices
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Green Bonds: Effectiveness and Implications for Public Policy
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Anca D. Cristea
Donghyun Lee

Evidence for the Effect of Monitoring Costs on Foreign Direct Investment
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Nicolas Vincent

Good Dispersion, Bad Dispersion
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Hyunseob Kim
Si Li
Jiaping Qiu

Employee Costs of Corporate Bankruptcy
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Scott Hirst

The Specter of the Giant Three
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Randall Morck
M. Deniz Yavuz

Business Groups and the Incorporation of Firm-specific Shocks into Stock Prices
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Chen Lin
Qilin Peng
Wensi Xie

Communication within Banking Organizations and Small Business Lending
w25815 Alma Cohen
Moshe Hazan
Roberto Tallarita
David Weiss

The Politics of CEOs
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Viktoriya Lantushenko
Clemens Sialm

Institutional Trading Around M&A Announcements
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Amiyatosh Purnanandam

Bank Risk Dynamics and Distance to Default
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Ajay A. Palvia
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Do Distressed Banks Really Gamble for Resurrection?
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Tao Li
Enrichetta Ravina
Howard L. Rosenthal

Investor Ideology
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S. Viswanathan
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Risk Management in Financial Institutions
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Stephen G. Cecchetti
Kermit L. Schoenholtz

Stress Testing Networks: The Case of Central Counterparties
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Michael S. Weisbach

The Role of Financial Conditions in Portfolio Choices: The Case of Insurers
w25644 Erik P. Gilje
Todd Gormley
Doron Y. Levit

Who's Paying Attention? Measuring Common Ownership and Its Impact on Managerial Incentives
w25634 Vojislav Maksimovic
Gordon M. Phillips
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Do Public Firms Respond to Industry Opportunities More Than Private Firms? The Impact of Initial Firm Quality
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Erik P. Gilje
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Real Option Exercise: Empirical Evidence
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Juhani T. Linnainmaa
Peter Nyberg

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Yifan Li
Ben Lourie
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Do Trade Creditors Possess Private Information? Stock Returns Evidence
w25529 Germán Gutiérrez
Thomas Philippon

Fading Stars
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Bank of Japan Equity Purchases: The (Non-)Effects of Extreme Quantitative Easing
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Optimal Corporate Taxation Under Financial Frictions
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Social Progress and Corporate Culture
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Securities Laws, Bank Monitoring, and the Choice Between Cov-lite Loans and Bonds for Highly Levered
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Gonzalo Asis
Anusha Chari
Ugo Panizza

Corporate Debt, Firm Size and Financial Fragility in Emerging Markets
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Christopher Conlon
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Common Ownership in America: 1980-2017
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Abhishek Dev
Josh Lerner

The Creation and Evolution of Entrepreneurial Public Markets
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Catherine Hausman

Are Energy Executives Rewarded For Luck?
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Entrepreneurial Spillovers from Corporate R&D
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Rüdiger Fahlenbrach
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Jérôme P. Taillard

Why are Firms with More Managerial Ownership Worth Less?
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Natalia Kovrijnykh
Jian Li
Anna Pavlova

The Benchmark Inclusion Subsidy
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Holger M. Mueller

Firm Leverage and Regional Business Cycles
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David Yermack

Investment Returns and Distribution Policies of Non-Profit Endowment Funds
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Christian Dorion
Alexandre Jeanneret
Michael Weber

Low Inflation: High Default Risk AND High Equity Valuations
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Alexander F. Wagner
Richard J. Zeckhauser
Alexandre Ziegler

Investor Rewards to Climate Responsibility: Evidence from the 2016 Climate Policy Shock
w25300 Hanming Fang
Zhe Li
Nianhang Xu
Hongjun Yan

In the Shadows of the Government: Relationship Building During Political Turnovers
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Marco Grotteria
Jessica Wachter

Foreseen Risks
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Sebnem Kalemli-Ozcan
Henry Hyatt
Veronika Penciakova

Leverage over the Life Cycle and Implications for Firm Growth and Shock Responsiveness
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Veikko Thiele

May the Force be With You: Investor Power and Company Valuations
w25196 João Granja
Christian Leuz
Raghuram Rajan

Going the Extra Mile: Distant Lending and Credit Cycles
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Behavioral Corporate Finance
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Sergio Rebelo
Arlene Wong

State Dependent Effects of Monetary Policy: the Refinancing Channel
w25150 Mark L. Egan
Gregor Matvos
Amit Seru

Arbitration with Uninformed Consumers
w25140 Jose Pizarro
Eduardo S. Schwartz

The Valuation of Fisheries Rights: A Real Options Approach
w25125 David A. Matsa
Capital Structure and a Firm's Workforce
w25085 Andrea L. Eisfeldt
Yu Shi

Capital Reallocation
w25075 José María Liberti
Mitchell A. Petersen

Information: Hard and Soft
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Nittai Bergman

Debt, Information, and Illiquidity
w24976 Charlie Eaton
Sabrina Howell
Constantine Yannelis

When Investor Incentives and Consumer Interests Diverge: Private Equity in Higher Education
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Andra Ghent
Valentin Haddad

Asset Insulators
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Aleh Tsyvinski

Risks and Returns of Cryptocurrency
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Marina Niessner
David Yermack

Initial Coin Offerings: Financing Growth with Cryptocurrency Token Sales
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Martin Oehmke

Bank Resolution and the Structure of Global Banks
w24709 Kewei Hou
Haitao Mo
Chen Xue
Lu Zhang

q⁵
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Adrien d'Avernas
Andrea L. Eisfeldt
Pierre-Olivier Weill

Government Guarantees and the Valuation of American Banks
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Harrison Hong

Selection versus Talent Effects on Firm Value
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Sabrina T. Howell

Policy Uncertainty and Innovation: Evidence from IPO Interventions in China
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Danielle Li
Dimitris Papanikolaou

Missing Novelty in Drug Development
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Alexi Savov
Philipp Schnabl

Banking on Deposits: Maturity Transformation without Interest Rate Risk
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Debt Overhang, Rollover Risk, and Corporate Investment: Evidence from the European Crisis
w24542 Lauren H. Cohen
Umit G. Gurun

Buying the Verdict
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Evidence-Based Policymaking: Promise, Challenges and Opportunities for Accounting and Financial Markets Research
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The Elasticity of Taxable Income in the Presence of Intertemporal Income Shifting
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Rosemarie Ziedonis

How Redeployable are Patent Assets? Evidence from Failed Startups
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Tatyana Deryugina

Firm-Level Financial Resources and Environmental Spills
w24513 Yi Huang
Ugo Panizza
Richard Portes

Corporate Foreign Bond Issuance and Interfirm Loans in China
w24436 Yan Bai
Dan Lu
Xu Tian

Do Financial Frictions Explain Chinese Firms' Saving and Misallocation?
w24435 Isil Erel
Léa H. Stern
Chenhao Tan
Michael S. Weisbach

Selecting Directors Using Machine Learning
w24433 Charles W. Calomiris
Mauricio Larrain
Sergio L. Schmukler

Capital Inflows, Equity Issuance Activity, and Corporate Investment
w24409 Shinichi Kamiya
Jun-Koo Kang
Jungmin Kim
Andreas Milidonis
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What is the Impact of Successful Cyberattacks on Target Firms?
w24389 Ross Levine
Chen Lin
Zigan Wang

Pollution and Human Capital Migration: Evidence from Corporate Executives
w24370 Bronwyn H. Hall
Is There a Role for Patents in the Financing of New Innovative Firms?
w24269 Victoria Ivashina
Benjamin Iverson

Trade Creditors' Information Advantage
w24265 Craig Doidge
Kathleen M. Kahle
G. Andrew Karolyi
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Eclipse of the Public Corporation or Eclipse of the Public Markets?
w24237 Roni Michaely
Stefano Rossi
Michael Weber

Signaling Safety
w24208 David Sraer
David Thesmar

A Sufficient Statistics Approach for Aggregating Firm-Level Experiments
w24198 Hans K. Hvide
Paul Oyer

Dinner Table Human Capital and Entrepreneurship
w24184 Shang-Jin Wei
Jing Zhou

Quality of Public Governance and the Capital Structure of Nations and Firms
w24182 Ralph Koijen
Motohiro Yogo

The Fragility of Market Risk Insurance
2017
w24168 João Granja
Christian Leuz

The Death of a Regulator: Strict Supervision, Bank Lending, and Business Activity
w24142 Ming Dong
David Hirshleifer
Siew Hong Teoh

Misvaluation and Corporate Inventiveness
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Gordon M. Phillips
Liu Yang

Do Public Firms Respond to Investment Opportunities More than Private Firms? The Impact of Initial Firm Quality
w24102 Benjamin Bennett
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Zexi Wang

Does the Stock Market Make Firms More Productive?
w24089 Andrea Barbon
Marco Di Maggio
Francesco Franzoni
Augustin Landier

Brokers and Order Flow Leakage: Evidence from Fire Sales
w24082 Gordon M. Phillips
Alexei Zhdanov

Venture Capital Investments and Merger and Acquisition Activity Around the World
w24081 John (Jianqiu) Bai
Daniel Carvalho
Gordon M. Phillips

The Impact of Bank Credit on Labor Reallocation and Aggregate Industry Productivity
w24064 Jongsub Lee
Junho Oh
David Yermack

Credit Default Swaps, Agency Problems, and Management Incentives
w24053 Josh Lerner
Amit Seru

The Use and Misuse of Patent Data: Issues for Corporate Finance and Beyond
w24050 Gideon Bornstein
Guido Lorenzoni

Moral Hazard Misconceptions: the Case of the Greenspan Put
w24029 Tarek A. Hassan
Stephan Hollander
Laurence van Lent
Ahmed Tahoun

Firm-Level Political Risk: Measurement and Effects
w24018 Brandon Gipper
Luzi Hail
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On the Economics of Audit Partner Tenure and Rotation: Evidence from PCAOB Data
w24005 Sigríður Benediktsdóttir
Gauti B. Eggertsson
Eggert Þórarinsson

The Rise, the Fall, and the Resurrection of Iceland
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Bilyana Bogdanova
Patrick Bolton
Wei Jiang
Anastasia Kartasheva

CoCo Issuance and Bank Fragility
w23967 Jongha Lim
Michael W. Schwert
Michael S. Weisbach

The Economics of PIPEs
w23910 Andrei S. Gonçalves
Chen Xue
Lu Zhang

Does the Investment Model Explain Value and Momentum Simultaneously?
w23895 William Gornall
Ilya A. Strebulaev

Squaring Venture Capital Valuations with Reality
w23889 Alexander Ljungqvist
Konrad Raff

Busy Directors: Strategic Interaction and Monitoring Synergies
w23879 Gabriel Chodorow-Reich
Antonio Falato

The Loan Covenant Channel: How Bank Health Transmits to the Real Economy
w23869 Murillo Campello
Janet Gao
Jiaping Qiu
Yue Zhang

Bankruptcy and the Cost of Organized Labor: Evidence from Union Elections
w23832 Steven N. Kaplan
Morten Sorensen

Are CEOs Different? Characteristics of Top Managers
w23831 Richard T. Thakor
Andrew W. Lo

Optimal Financing for R&D-Intensive Firms
w23812 Hideaki Miyajima
Ryo Ogawa
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Changes in Corporate Governance and Top Executive Turnover: The Evidence from Japan
w23804 Naoshi Ikeda
Kotaro Inoue
Sho Watanabe

Enjoying the Quiet Life: Corporate Decision-Making by Entrenched Managers
w23799 Michael W. Faulkender
Kristine W. Hankins
Mitchell A. Petersen

Understanding the Rise in Corporate Cash: Precautionary Savings or Foreign Taxes
w23776 Benjamin Hermalin
Biased Monitors: Corporate Governance When Managerial Ability is Mis-assessed
w23767 John R. Graham
Mark T. Leary

The Evolution of Corporate Cash
w23755 Mark D. Flood
Dror Y. Kenett
Robin L. Lumsdaine
Jonathan K. Simon

The Complexity of Bank Holding Companies: A Topological Approach
w23715 Takeo Hoshi
Satoshi Koibuchi
Ulrike Schaede

The Decline in Bank-Led Corporate Restructuring in Japan: 1981-2010
w23704 João F. Gomes
Marco Grotteria
Jessica A. Wachter

Cyclical Dispersion in Expected Defaults
w23680 Leif Andersen
Darrell Duffie
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Funding Value Adjustments
w23612 Patrick Bolton
Haizhou Huang

The Capital Structure of Nations
w23596 Alex Edmans
Xavier Gabaix
Dirk Jenter

Executive Compensation: A Survey of Theory and Evidence
w23593 Luigi Zingales
Towards a Political Theory of the Firm
w23583 Germán Gutiérrez
Thomas Philippon

Declining Competition and Investment in the U.S.
w23563 Kewei Hou
Haitao Mo
Chen Xue
Lu Zhang

The Economics of Value Investing
w23541 Raffaele Santioni
Fabio Schiantarelli
Philip E. Strahan

Internal Capital Markets in Times of Crisis: The Benefit of Group Affiliation in Italy
w23515 Dean Corbae
Pablo D'Erasmo

Reorganization or Liquidation: Bankruptcy Choice and Firm Dynamics
w23505 Andreas Nilsson
David T. Robinson

What is the Business of Business?
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Yeejin Jang
Bernadette A. Minton
Michael S. Weisbach

Corporate Liquidity, Acquisitions, and Macroeconomic Conditions
w23469 Ross Levine
Chen Lin
Zigan Wang

Acquiring Banking Networks
w23464 Steven N. Kaplan
Are U.S. Companies Too Short-Term Oriented? Some Thoughts
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Randall Morck

Governance and Stakeholders
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Thomas Schmid
Michael S. Weisbach

Price Risk, Production Flexibility, and Liquidity Management: Evidence from Electricity Generating Firms
w23432 David Hirshleifer
Po-Hsuan Hsu
Dongmei Li

Innovative Originality, Profitability, and Stock Returns
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Alexander F. Wagner
Richard J. Zeckhauser

Straight Talkers and Vague Talkers: The Effects of Managerial Style in Earnings Conference Calls
w23407 Laura Alfaro
Gonzalo Asis
Anusha Chari
Ugo Panizza

Lessons Unlearned? Corporate Debt in Emerging Markets
w23356 Jeffrey R. Brown
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All the President's Friends: Political Access and Firm Value
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Andrew W. Lo
Tomas J. Philipson
Manita Singh
Richard T. Thakor

Sharing R&D Risk in Healthcare via FDA Hedges
w23331 Heitor Almeida
Kristine Watson Hankins
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Risk Management with Supply Contracts
w23310 Irem Demirci
Jennifer Huang
Clemens Sialm

Government Debt and Corporate Leverage: International Evidence
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Emanuele Colonnelli
Ben Iverson

Asset Allocation in Bankruptcy
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S. Viswanathan

Financial Intermediary Capital
w23273 Raphael Boleslavsky
Bruce I. Carlin
Christopher Cotton

Competing for Capital: Auditing and Credibility in Financial Reporting
w23255 John R. Graham
Campbell R. Harvey
Jillian Popadak
Shivaram Rajgopal

Corporate Culture: Evidence from the Field
w23249 Juliane Begenau
Berardino Palazzo

Firm Selection and Corporate Cash Holdings
w23238 Jules H. van Binsbergen
Christian C. Opp

Real Anomalies
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The Investment CAPM
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Carola Frydman
Dimitris Papanikolaou

Financial Frictions and Employment during the Great Depression
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Alvaro G. Taboada

Are Larger Banks Valued More Highly?
w23176 Xavier Giroud
Holger M. Mueller

Firms' Internal Networks and Local Economic Shocks
w23162 Shai Bernstein
Emanuele Colonnelli
Xavier Giroud
Benjamin Iverson

Bankruptcy Spillovers
w23133 Peter Chen
Loukas Karabarbounis
Brent Neiman

The Global Rise of Corporate Saving
w23121 Benjamin Hermalin
Michael Weisbach

Assessing Managerial Ability: Implications for Corporate Governance
w23115 Briana Chang
Harrison Hong

Assignment of Stock Market Coverage
w23113 Matthew S. Jaremski
The (Dis)Advantages of Clearinghouses Before the Fed
w23091 Kelly Shue
Richard Townsend

How do Quasi-Random Option Grants Affect CEO Risk-Taking?
w23083 Thomas Philippon
Pierre Pessarossi
Boubacar Camara

Backtesting European Stress Tests
w23082 Paul A. Gompers
Sophie Q. Wang

Diversity in Innovation
w23080 Liangliang Jiang
Ross Levine
Chen Lin

Does Competition Affect Bank Risk?
w23066 Francesco D’Acunto
Ryan Liu
Carolin Pflueger
Michael Weber

Flexible Prices and Leverage
w23055 Douglas W. Diamond
Yunzhi Hu
Raghuram G. Rajan

Pledgeability, Industry Liquidity, and Financing Cycles
w23052 B. Zorina Khan
Related Investing: Corporate Ownership and Capital Mobilization during Early Industrialization
2016
w23010 Gur Aminadav
Elias Papaioannou

Corporate Control around the World
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Yan Bai
Patrick J. Kehoe

Financial Frictions and Fluctuations in Volatility
w22924 Dong Lee
Han Shin
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Why Does Capital No Longer Flow More to the Industries with the Best Growth Opportunities?
w22897 Germán Gutiérrez
Thomas Philippon

Investment-less Growth: An Empirical Investigation
w22893 Kerry Back
Pierre Collin-Dufresne
Vyacheslav Fos
Tao Li
Alexander Ljungqvist

Activism, Strategic Trading, and Liquidity
w22870 Yehuda Izhakian
David Yermack
Jaime F. Zender

Ambiguity and the Tradeoff Theory of Capital Structure
w22865 Randall Morck
Masao Nakamura

Japan's Ultimately Unaccursed Natural Resources-Financed Industrialization
w22857 Kathleen Kahle
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Is the U.S. public corporation in trouble?
w22848 Laurent Frésard
Ulrich Hege
Gordon Phillips

Extending Industry Specialization through Cross-Border Acquisitions
w22846 Kyle Herkenhoff
Gordon Phillips
Ethan Cohen-Cole

The Impact of Consumer Credit Access on Employment, Earnings and Entrepreneurship
w22828 Harry DeAngelo
Andrei S. Gonçalves
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Corporate Deleveraging
w22799 Peter DeMarzo
Zhiguo He

Leverage Dynamics without Commitment
w22750 Bruce A. Blonigen
Justin R. Pierce

Evidence for the Effects of Mergers on Market Power and Efficiency
w22707 Ian R. Appel
Todd A. Gormley
Donald B. Keim

Standing on the Shoulders of Giants: The Effect of Passive Investors on Activism
w22651 Barney Hartman-Glaser
Hanno Lustig
Mindy Z. Xiaolan

Capital Share Dynamics When Firms Insure Workers
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Eugene Kandel
Yevgeny Mugerman
Yishay Yafeh

Incentive Fees and Competition in Pension Funds: Evidence from a Regulatory Experiment
w22631 Yasin Ozcan
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Technological Leadership (de)Concentration: Causes in ICTE
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Andrew F. Haughwout
Howard C. Kunreuther
Erwann O. Michel-Kerjan
Michael A. Stewart

Firms' Management of Infrequent Shocks
w22597 Adair Morse
Wei Wang
Serena Wu

Executive Lawyers: Gatekeepers or Strategic Officers?
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William Gornall
Steven N. Kaplan
Ilya A. Strebulaev

How Do Venture Capitalists Make Decisions?
w22546 Bruce A. Blonigen
Donghyun Lee

Heterogeneous Frictional Costs Across Industries in Cross-border Mergers and Acquisitions
w22544 Ross Levine
Chen Lin
Wensi Xie

Geographic Diversification and Banks' Funding Costs
w22493 Gregory W. Brown
Oleg R. Gredil
Steven N. Kaplan

Do Private Equity Funds Manipulate Reported Returns?
w22476 Thomas Philippon
The FinTech Opportunity
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Steven N. Kaplan
David F. Larcker
Anastasia A. Zakolyukina

CEO Personality and Firm Policies
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Erik Loualiche
Matthew Plosser

Buyout Activity: The Impact of Aggregate Discount Rates
w22396 Xavier Giroud
Holger M. Mueller

Redistribution of Local Labor Market Shocks through Firms' Internal Networks
w22368 Antonio Ciccone
Elias Papaioannou

Estimating Cross-Industry Cross-Country Interaction Models Using Benchmark Industry Characteristics
w22364 Jaroslav Borovička
Lars Peter Hansen

Term Structure of Uncertainty in the Macroeconomy
w22324 Adriano A. Rampini
Financing Durable Assets
w22286 Niklas Amberg
Tor Jacobson
Erik von Schedvin
Robert Townsend

Curbing Shocks to Corporate Liquidity: The Role of Trade Credit
w22273 Alon Brav
Wei Jiang
Song Ma
Xuan Tian

How Does Hedge Fund Activism Reshape Corporate Innovation?
w22195 Liangliang Jiang
Ross Levine
Chen Lin

Competition and Bank Liquidity Creation
w22153 Ross Levine
Chen Lin
Wensi Xie

Corporate Resilience to Banking Crises: The Roles of Trust and Trade Credit
w22150 Ivo Welch
Levered Returns
w22146 Itzhak Ben-David
Justin Birru
Viktor Prokopenya

Uninformative Feedback and Risk Taking: Evidence from Retail Forex Trading
w22116 Malcolm Baker
Mathias F. Hoeyer
Jeffrey Wurgler

The Risk Anomaly Tradeoff of Leverage
w22091 Yihui Pan
Tracy Yue Wang
Michael S. Weisbach

How Management Risk Affects Corporate Debt
w22001 Chen Lin
Randall Morck
Bernard Yeung
Xiaofeng Zhao

What do we learn from stock price reactions to China's first announcement of anti-corruption reforms?
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Richard Townsend

Growth through Rigidity: An Explanation for the Rise in CEO Pay
w21952 Peter Koudijs
Laura Salisbury

Bankruptcy and Investment: Evidence from Changes in Marital Property Laws in the U.S. South, 1840-1850
w21919 Zhiguo He
Konstantin Milbradt

Dynamic Debt Maturity
w21909 Alexander Ljungqvist
Lars Persson
Joacim Tåg

Private Equity's Unintended Dark Side: On the Economic Consequences of Excessive Delistings
w21876 Eric Zwick
James Mahon

Tax Policy and Heterogeneous Investment Behavior
2015
w21834 Alexander Ljungqvist
Liandong Zhang
Luo Zuo

Sharing Risk with the Government: How Taxes Affect Corporate Risk Taking
w21810 Hanming Fang
You Suk Kim
Wenli Li

The Dynamics of Adjustable-Rate Subprime Mortgage Default: A Structural Estimation
w21802 David Yermack
Corporate Governance and Blockchains
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Dimitris Papanikolaou

In Search of Ideas: Technological Innovation and Executive Pay Inequality
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Gloria Y. Tian

Business Groups in Canada: Their Rise and Fall, and Rise and Fall Again
w21690 Murillo Campello
Mauricio Larrain

Enlarging the Contracting Space: Collateral Menus, Access to Credit, and Economic Activity
w21630 Kristopher Gerardi
Kyle F. Herkenhoff
Lee E. Ohanian
Paul S. Willen

Can't Pay or Won't Pay? Unemployment, Negative Equity, and Strategic Default
w21549 Andrew B. Abel
The Analytics of Investment, q, and Cash Flow
w21548 Andrew B. Abel
Optimal Debt and Profitability in the Tradeoff Theory
w21530 Brandon Gipper
Christian Leuz
Mark Maffett

Public Audit Oversight and Reporting Credibility: Evidence from the PCAOB Inspection Regime
w21516 Aspen Gorry
Kevin A. Hassett
R. Glenn Hubbard
Aparna Mathur

The Response of Deferred Executive Compensation to Changes in Tax Rates
w21507 Jamal I. Haidar
Takeo Hoshi

Implementing Structural Reforms in Abenomics: How to Reduce the Cost of Doing Business in Japan
w21491 Torben G. Andersen
Nicola Fusari
Viktor Todorov

The Pricing of Short-Term market Risk: Evidence from Weekly Options
w21424 Marco Ceccagnoli
Matthew J. Higgins
Hyunsung D. Kang

Corporate Venture Capital as a Real Option in the Markets for Technology
w21364 Jean-Etienne de Bettignies
David T. Robinson

When Is Social Responsibility Socially Desirable?
w21362 Roberta Romano
Sarath Sanga

The Private Ordering Solution to Multiforum Shareholder Litigation
w21335 David Le Bris
William N. Goetzmann
Sébastien Pouget

The Development of Corporate Governance in Toulouse: 1372-1946
w21328 Fernando Alvarez
Gadi Barlevy

Mandatory Disclosure and Financial Contagion
w21267 Andrew W. Lo
The Gordon Gekko Effect: The Role of Culture in the Financial Industry
w21260 Nicola Gennaioli
Yueran Ma
Andrei Shleifer

Expectations and Investment
w21245 Ross Levine
Chen Lin
Beibei Shen

Cross-border Acquisitions and Labor Regulations
w21227 Lucian A. Bebchuk
Alon Brav
Wei Jiang

The Long-Term Effects of Hedge Fund Activism
w21181 Craig Doidge
G. Andrew Karolyi
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The U.S. listing gap
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Steven N. Kaplan
Vladimir Mukharlyamov

What Do Private Equity Firms Say They Do?
w21131 Alex Edmans
Xavier Gabaix

Executive Compensation: A Modern Primer
w21086 Nittai K. Bergman
Rajkamal Iyer
Richard T. Thakor

Financial Accelerator at Work: Evidence from Corn Fields
w21066 David Yermack
Donor Governance and Financial Management in Prominent U.S. Art Museums
w21040 Takatoshi Ito
Satoshi Koibuchi
Kiyotaka Sato
Junko Shimizu

Exchange Rate Exposure and Risk Management: The case of Japanese Exporting Firms
w21003 Danny Yagan
Capital Tax Reform and the Real Economy: The Effects of the 2003 Dividend Tax Cut
w21000 Austan D. Goolsbee
Alan B. Krueger

A Retrospective Look at Rescuing and Restructuring General Motors and Chrysler
w20979 Patrick Bolton
Neng Wang
Jinqiang Yang

Optimal Contracting, Corporate Finance, and Valuation with Inalienable Human Capital
w20978 Christopher A. Hennessy
Ilya A. Strebulaev

Beyond Random Assignment: Credible Inference of Causal Effects in Dynamic Economies
w20930 Alexander Ljungqvist
Donghua Chen
Dequan Jiang
Haitian Lu
Mingming Zhou

State Capitalism vs. Private Enterprise
w20917 Joshua Aizenman
Yothin Jinjarak
Donghyun Park

Financial Development and Output Growth in Developing Asia and Latin America: A Comparative Sectoral Analysis
w20903 Richard T. Thakor
Andrew W. Lo

Competition and R&D Financing Decisions: Theory and Evidence from the Biopharmaceutical Industry
w20880 Jia Chen
Kewei Hou
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Are Firms in "Boring" Industries Worth Less?
w20863 Ross Levine
Chen Lin
Wensi Xie

Spare Tire? Stock Markets, Banking Crises, and Economic Recoveries
w20825 Camelia M. Kuhnen
Paul Oyer

Exploration for Human Capital: Evidence from the MBA Labor Market
2014
w20776 Christopher L. Culp
Yoshio Nozawa
Pietro Veronesi

Option-Based Credit Spreads
w20760 Liangliang Jiang
Ross Levine
Chen Lin

Competition and Bank Opacity
w20717 David Sraer
David Thesmar
Antoinette Schoar
Johan Hombert

Can Unemployment Insurance Spur Entrepreneurial Activity?
w20678 Anisha Ghosh
George M. Constantinides

Prices, Consumption, and Dividends Over the Business Cycle: A Tale of Two Regimes
w20674 Yihui Pan
Tracy Yue Wang
Michael S. Weisbach

Does Uncertainty about Management Affect Firms' Costs of Borrowing?
w20665 Daron Acemoglu
Tarek A. Hassan
Ahmed Tahoun

The Power of the Street: Evidence from Egypt's Arab Spring
w20634 C. Fritz Foley
Kalina Manova

International Trade, Multinational Activity, and Corporate Finance
w20621 Lorenz Kueng
Mu-Jeung Yang
Bryan Hong

Sources of Firm Life-Cycle Dynamics: Differentiating Size vs. Age Effects
w20610 Patrick Bolton
Neng Wang
Jinqiang Yang

Investment under Uncertainty with Financial Constraints
w20592 Campbell R. Harvey
Yan Liu
Heqing Zhu

. . . and the Cross-Section of Expected Returns
w20589 Francis Longstaff
Valuing Thinly-Traded Assets
w20581 John Graham
Mark T. Leary
Michael R. Roberts

How Does Government Borrowing Affect Corporate Financing and Investment?
w20579 S. Katie Moon
Gordon M. Phillips

Outside Purchase Contracts, Human Capital and Firm Capital Structure
w20578 Gordon Phillips
Giorgo Sertsios

Financing Decisions and Product Introductions of Private and Publicly Traded Firms
w20442 Andrea L. Eisfeldt
Tyler Muir

Aggregate External Financing and Savings Waves
w20484 Michael R. Roberts
The Role of Dynamic Renegotiation and Asymmetric Information in Financial Contracting
w20481 Timothy W. Guinnane
Ron Harris
Naomi R. Lamoreaux

Contractual Freedom and the Evolution of Corporate Control in Britain, 1862 to 1929
w20476 Alex Edmans
Luis Goncalves-Pinto
Yanbo Wang
Moqi Xu

Strategic News Releases in Equity Vesting Months
w20468 Matthias Efing
Harald Hau
Patrick Kampkötter
Johannes Steinbrecher

Incentive Pay and Bank Risk-Taking: Evidence from Austrian, German, and Swiss Banks
w20420 Alex Edmans
Doron Levit
Devin Reilly

Governance and Comovement Under Common Ownership
w20372 Francis A. Longstaff
Ilya A. Strebulaev

Corporate Taxes and Capital Structure: A Long-Term Historical Perspective
w20356 Eric Hilt
History of American Corporate Governance: Law, Institutions, and Politics
w20350 Casey Dougal
Christopher A. Parsons
Sheridan Titman

Urban Vibrancy and Corporate Growth
w20345 Alberto Bisin
Gian Luca Clementi
Piero Gottardi

Capital Structure and Hedging Demand with Incomplete Markets
w20336 Tatiana Didier
Ross Levine
Sergio L. Schmukler

Capital Market Financing, Firm Growth, Firm Size Distribution
w20310 Justin Murfin
Mitchell Petersen

Loans on sale: Credit market seasonality, borrower need, and lender rents
w20286 Claudia M. Buch
Linda S. Goldberg

International Banking and Liquidity Risk Transmission: Lessons from Across Countries
w20300 Alex Edmans
Lucius Li
Chendi Zhang

Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around The World
w20285 Ricardo Correa
Linda S. Goldberg
Tara Rice

Liquidity Risk and U.S. Bank Lending at Home and Abroad
w20274 René M. Stulz
Governance, Risk Management, and Risk-Taking in Banks
w20254 Efraim Benmelech
Nittai Bergman
Anna Milanez
Vladimir Mukharlyamov

The Agglomeration of Bankruptcy
w20187 Jaewon Choi
Matthew P. Richardson
Robert F. Whitelaw

On the Fundamental Relation Between Equity Returns and Interest Rates
w20176 Stephen G. Dimmock
William C. Gerken
Zoran Ivković
Scott J. Weisbenner

Capital Gains Lock-In and Governance Choices
w20138 Jonathan B. Berk
Jules H. van Binsbergen
Binying Liu

Matching Capital and Labor
w20121 Murillo Campello
Rafael Perez Ribas
Yan Wang

Is the Stock Market Just a Side Show? Evidence from a Structural Reform
w20099 Paul Bergin
Ling Feng
Ching-Yi Lin

Financial Frictions and Firm Dynamics
w20090 Raymond Fisman
Yongxiang Wang

Corruption in Chinese Privatizations
w20081 Francesco Bianchi
Cosmin L. Ilut
Martin Schneider

Uncertainty Shocks, Asset Supply and Pricing over the Business Cycle
w20078 Howard Bodenhorn
Eugene N. White

The Evolution of Bank Boards of Directors in New York, 1840-1950
w20038 Simon Gilchrist
Jae W. Sim
Egon Zakrajšek

Uncertainty, Financial Frictions, and Investment Dynamics
w20028 Benjamin E. Hermalin
Michael S. Weisbach

Understanding Corporate Governance Through Learning Models of Managerial Competence
w20009 Patrick Bolton
Hui Chen
Neng Wang

Debt, Taxes, and Liquidity
w19991 David Yermack
Yuanzhi Li

Evasive Shareholder Meetings
w19975 David Yermack
Yehuda Izhakian

Risk, Ambiguity, and the Exercise of Employee Stock Options
w19957 Peter Koudijs
Hans-Joachim Voth

Leverage and Beliefs: Personal Experience and Risk Taking in Margin Lending
w19953 C. Fritz Foley
Paul Goldsmith-Pinkham
Jonathan Greenstein
Eric Zwick

Opting Out of Good Governance
w19947 Dirk Czarnitzki
Bronwyn H. Hall
Hanna Hottenrott

Patents as Quality Signals? The Implications for Financing Constraints on R&D
w19946 Konstantin Milbradt
Martin Oehmke

Maturity Rationing and Collective Short-Termism
w19910 John Graham
Mark T. Leary
Michael R. Roberts

A Century of Capital Structure: The Leveraging of Corporate America
w19901 Serguey Braguinsky
Atsushi Ohyama
Tetsuji Okazaki
Chad Syverson

Acquisitions, Productivity, and Profitability: Evidence from the Japanese Cotton Spinning Industry
w19845 Manuel Adelino
Song Ma
David T. Robinson

Firm Age, Investment Opportunities, and Job Creation
w19809 Kathy Fogel
Liping Ma
Randall Morck

Powerful Independent Directors
w19806 Charles W. Calomiris
Mark Carlson

Corporate Governance and Risk Management at Unprotected Banks: National Banks in the 1890s
w19799 Dalida Kadyrzhanova
Matthew Rhodes-Kropf

Governing Misvalued Firms
w19786 Geert Bekaert
Campbell R. Harvey
Christian T. Lundblad
Stephan Siegel

Political Risk Spreads
w19782 Efraim Benmelech
Carola Frydman

Military CEOs
2013
w19708 Viral V. Acharya
Zhaoxia Xu

Financial Dependence and Innovation: The Case of Public versus Private Firms
w19707 Viral V. Acharya
Hanh Le
Hyun Song Shin

Bank Capital and Dividend Externalities
w19691 Eugene Kandel
Konstantin Kosenko
Randall Morck
Yishay Yafeh

The Great Pyramids of America: A Revised History of US Business Groups, Corporate Ownership and Regulation, 1930-1950
w19680 Martin C. Schmalz
David A. Sraer
David Thesmar

Housing Collateral and Entrepreneurship
w19669 Kerry Back
Tao Li
Alexander Ljungqvist

Liquidity and Governance
w19633 William Gornall
Ilya A. Strebulaev

Financing as a Supply Chain: The Capital Structure of Banks and Borrowers
w19619 Pierre Collin-Dufresne
Vyacheslav Fos

Moral Hazard, Informed Trading, and Stock Prices
w19612 Morten Sorensen
Neng Wang
Jinqiang Yang

Valuing Private Equity
w19609 Annette Alstadsæter
Wojciech Kopczuk
Kjetil Telle

Are Closely-Held Firms Tax Shelters?
w19606 Sumit Agarwal
Itzhak Ben-David
Vincent Yao

Collateral Valuation and Borrower Financial Constraints: Evidence from the Residential Real Estate Market
w19594 Thomas F. Cooley
Ramon Marimon
Vincenzo Quadrini

Risky Investments with Limited Commitment
w19573 Alex Edmans
Blockholders and Corporate Governance
w19557 Luigi Guiso
Paola Sapienza
Luigi Zingales

The Value of Corporate Culture
w19551 Joan Farre-Mensa
Alexander Ljungqvist

Do Measures of Financial Constraints Measure Financial Constraints?
w19502 Heitor Almeida
Murillo Campello
Igor Cunha
Michael S. Weisbach

Corporate Liquidity Management: A Conceptual Framework and Survey
w19497 Linda S. Goldberg
Banking Globalization, Transmission, and Monetary Policy Autonomy
w19467 Patrick Bolton
Xavier Freixas
Leonardo Gambacorta
Paolo Emilio Mistrulli

Relationship and Transaction Lending in a Crisis
w19462 Hyunbae Chun
Jung-Wook Kim
Randall Morck

Productivity Growth and Stock Returns: Firm- and Aggregate-Level Analyses
w19432 Ing-Haw Cheng
Harrison Hong
Kelly Shue

Do Managers Do Good with Other People's Money?
w19428 Claudio Loderer
René Stulz
Urs Waelchli

Limited Managerial Attention and Corporate Aging
w19420 Alex Edmans
Mirko Heinle
Chong Huang

The Real Costs of Disclosure
w19415 Bo Becker
Jens Josephson

Insolvency Resolution and the Missing High Yield Bond Markets
w19407 Alex Edmans
Vivian W. Fang
Katharina A. Lewellen

Equity Vesting and Managerial Myopia
w19395 William Mullins
Antoinette Schoar

How do CEOs see their Role? Management Philosophy and Styles in Family and Non-Family Firms
w19380 Ross Levine
Yona Rubinstein

Liberty for More: Finance and Educational Opportunities
w19379 Ramana Nanda
Matthew Rhodes-Kropf

Innovation and the Financial Guillotine
w19378 Marc Martos-Vila
Matthew Rhodes-Kropf
Jarrad Harford

Financial vs. Strategic Buyers
w19358 Ulf Brüggemann
Aditya Kaul
Christian Leuz
Ingrid M. Werner

The Twilight Zone: OTC Regulatory Regimes and Market Quality
w19347 Arthur Korteweg
Stefan Nagel

Risk-Adjusting the Returns to Venture Capital
w19330 Yihui Pan
Tracy Yue Wang
Michael S. Weisbach

CEO Investment Cycles
w19278 Russell Cooper
Kalin Nikolov

Government Debt and Banking Fragility: The Spreading of Strategic Uncertainty
w19276 Ross Levine
Yona Rubinstein

Smart and Illicit: Who Becomes an Entrepreneur and Do They Earn More?
w19261 Lee Biggerstaff
David C. Cicero
Andy Puckett

Unethical Culture, Suspect CEOs and Corporate Misbehavior
w19251 Joseph J. Gerakos
Chad Syverson

Competition in the Audit Market: Policy Implications
w19229 René M. Stulz
Dimitrios Vagias
Mathijs A. van Dijk

Do Firms Issue more equity when markets are more liquid?
w19204 Andrew G. Atkeson
Andrea L. Eisfeldt
Pierre-Olivier Weill

Measuring the Financial Soundness of U.S. Firms, 1926-2012
w19170 Thomas Chaney
Liquidity Constrained Exporters
w19146 Rajnish Mehra
Asset Pricing Implications of Macroeconomic Interventions An Application to Climate Policy
w19139 Harry DeAngelo
René M. Stulz

Why High Leverage is Optimal for Banks
w19120 Michael Ewens
Matthew Rhodes-Kropf

Is a VC Partnership Greater than the Sum of its Partners?
w19081 T. Christopher Borek
Angelo Frattarelli
Oliver Hart

Tax Shelters or Efficient Tax Planning? A Theory of The Firm Perspective On the Economic Substance Doctrine
w19078 Xavier Gabaix
Augustin Landier
Julien Sauvagnat

CEO Pay and Firm Size: an Update after the Crisis
w19051 Tobias Berg
Manju Puri
Jorg Rocholl

Loan officer Incentives and the Limits of Hard Information
w19018 Malcolm Baker
Jeffrey Wurgler

Do Strict Capital Requirements Raise the Cost of Capital? Banking Regulation and the Low Risk Anomaly
w19017 Randall Morck
Bernard Yeung
Wayne Yu

R-squared and the Economy
w19004 Randall Morck
M. Deniz Yavuz
Bernard Yeung

State-run Banks, Money Growth, and the Real Economy
w18955 Howard Bodenhorn
Large Block Shareholders, Institutional Investors, Boards of Directors and Bank Value in the Nineteenth Century
w18943 Tobias Adrian
Hyun Song Shin

Procyclical Leverage and Value-at-Risk
w18914 Stefano Giglio
Kelly Shue

No News is News: Do Markets Underreact to Nothing?
w18909 Bo Becker
Victoria Ivashina

Reaching for Yield in the Bond Market
w18903 Jongha Lim
Berk A. Sensoy
Michael S. Weisbach

Indirect Incentives of Hedge Fund Managers
w18895 Kris James Mitchener
Gary Richardson

Does "Skin in the Game" Reduce Risk Taking? Leverage, Liability and the Long-Run Consequences of New Deal Banking Reforms
w18892 Viral V. Acharya
Heitor Almeida
Filippo Ippolito
Ander Perez

Credit Lines as Monitored Liquidity Insurance: Theory and Evidence
w18891 Viral V. Acharya
Marco Pagano
Paolo Volpin

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent
w18890 Mary Amiti
David E. Weinstein

How Much do Idiosyncratic Bank Shocks Affect Investment? Evidence from Matched Bank-Firm Loan Data
w18886 Tanja Artiga González
Markus Schmid
David Yermack

Smokescreen: How Managers Behave When They Have Something To Hide
w18882 Yihui Pan
Tracy Yue Wang
Michael S. Weisbach

Learning about CEO Ability and Stock Return Volatility
w18868 Manuel Adelino
Antoinette Schoar
Felipe Severino

House Prices, Collateral and Self-Employment
w18857 Augustin Landier
David Sraer
David Thesmar

Banks' Exposure to Interest Rate Risk and The Transmission of Monetary Policy
w18840 Isil Erel
Yeejin Jang
Michael S. Weisbach

Do Acquisitions Relieve Target Firms' Financial Constraints?
w18793 Berk A. Sensoy
Yingdi Wang
Michael S. Weisbach

Limited Partner Performance and the Maturing of the Private Equity Industry
w18766 Jaromir Nosal
Guillermo Ordoñez

Uncertainty as Commitment
w18762 Jing Wu
Joseph Gyourko
Yongheng Deng

Is There Evidence of a Real Estate Collateral Channel Effect on Listed Firm Investment in China?
w18724 Robert L. McDonald
Measuring Margin
w18677 Alex Edmans
William Mann

Financing Through Asset Sales
2012
w18650 Laura Alfaro
Anusha Chari

Deregulation, Misallocation, and Size: Evidence from India
w18634 Nolan Miller
Alexander F. Wagner
Richard J. Zeckhauser

Solomonic Separation: Risk Decisions as Productivity Indicators
w18609 Sumit Agarwal
Efraim Benmelech
Nittai Bergman
Amit Seru

Did the Community Reinvestment Act (CRA) Lead to Risky Lending?
w18600 Jennie Bai
Shang-Jin Wei

When Is There a Strong Transfer Risk from the Sovereigns to the Corporates? Property Rights Gaps and CDS Spreads
w18592 Xavier Giroud
Holger M. Mueller

Capital and Labor Reallocation Inside Firms
w18561 Kalina Manova
Zhihong Yu

How Firms Export: Processing vs. Ordinary Trade with Financial Frictions
w18549 Tobias Adrian
Brian Begalle
Adam Copeland
Antoine Martin

Repo and Securities Lending
w18537 Robin Greenwood
Augustin Landier
David Thesmar

Vulnerable Banks
w18516 Viral V. Acharya
Ramin P. Baghai
Krishnamurthy V. Subramanian

Wrongful Discharge Laws and Innovation
w18476 Harrison Hong
Jeffrey D. Kubik
Jose A. Scheinkman

Financial Constraints on Corporate Goodness
w18472 Jesse Edgerton
Investment, Accounting, and the Salience of the Corporate Income Tax
w18452 Pierre Collin-Dufresne
Vyacheslav Fos

Do prices reveal the presence of informed trading?
w18415 Peter Egger
Christian Keuschnigg
Valeria Merlo
Georg Wamser

Corporate Taxes and Internal Borrowing within Multinational Firms
w18414 Bruce A. Blonigen
Lionel Fontagné
Nicholas Sly
Farid Toubal

Cherries for Sale: Export Networks and the Incidence of Cross-Border M&A
w18395 Steven N. Kaplan
Executive Compensation and Corporate Governance in the U.S.: Perceptions, Facts and Challenges
w18360 Guillermo Ordoñez
The Asymmetric Effects of Financial Frictions
w18367 Hui Chen
Yu Xu
Jun Yang

Systematic Risk, Debt Maturity, and the Term Structure of Credit Spreads
w18356 Jongha Lim
Bernadette A. Minton
Michael Weisbach

Syndicated Loan Spreads and the Composition of the Syndicate
w18346 Gordon M. Phillips
Alexei Zhdanov

R&D and the Incentives from Merger and Acquisition Activity
w18297 Albert N. Link
Christopher J. Ruhm
Donald S. Siegel

Private Equity and the Innovation Strategies of Entrepreneurial Firms: Empirical Evidence from the Small Business Innovation Research Program
w18274 Nicolas Berman
José De Sousa
Philippe Martin
Thierry Mayer

Time to Ship During Financial Crises
w18270 Craig B. Merrill
Taylor D. Nadauld
René M. Stulz
Shane Sherlund

Did Capital Requirements and Fair Value Accounting Spark Fire Sales in Distressed Mortgage-Backed Securities?
w18263 Florian Heider
Alexander Ljungqvist

As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from Exogenous State Tax Changes
w18242 Malcolm Baker
Jeffrey Wurgler

Dividends as Reference Points: A Behavioral Signaling Approach
w18208 Jennifer Brown
David A. Matsa

Boarding a Sinking Ship? An Investigation of Job Applications to Distressed Firms
w18211 Ulrike Malmendier
Marcus Matthias Opp
Farzad Saidi

Target Revaluation after Failed Takeover Attempts - Cash versus Stock
w18160 Douglas W. Diamond
Zhiguo He

A Theory of Debt Maturity: The Long and Short of Debt Overhang
w18154 Loukas Karabarbounis
Brent Neiman

Declining Labor Shares and the Global Rise of Corporate Saving
w18148 Stewart C. Myers
James A. Read
Jr.

Real Options, Taxes and Financial Leverage
w18147 Murillo Campello
Erasmo Giambona

Real Assets and Capital Structure
w18141 Paul Gompers
Vladimir Mukharlyamov
Yuhai Xuan

The Cost of Friendship
w18120 Lee Pinkowitz
René M. Stulz
Rohan Williamson

Multinationals and the High Cash Holdings Puzzle
w18107 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Trade Credit and Taxes
w18082 Christopher L. Foote
Kristopher S. Gerardi
Paul S. Willen

Why Did So Many People Make So Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis
w18024 Ulrike Malmendier
Enrico Moretti
Florian S. Peters

Winning by Losing: Evidence on the Long-Run Effects of Mergers
w18001 Robert Davidson
Aiyesha Dey
Abbie J. Smith

Executives' "Off-The-Job" Behavior, Corporate Culture, and Financial Reporting Risk
w17981 Yan Leung Cheung
P. Raghavendra Rau
Aris Stouraitis

How much do firms pay as bribes and what benefits do they get? Evidence from corruption cases worldwide
w17950 Robert G. Eccles
Ioannis Ioannou
George Serafeim

The Impact of Corporate Sustainability on Organizational Processes and Performance
w17946 Ilya A. Strebulaev
Baozhong Yang

The Mystery of Zero-Leverage Firms
w17945 Steven Grenadier
Andrey Malenko
Ilya A. Strebulaev

Investment Busts, Reputation, and the Temptation to Blend in with the Crowd
w17942 David T. Robinson
Berk A. Sensoy

Do Private Equity Managers Earn Their Fees? Compensation, Ownership, and Cash Flow Performance
w17940 David Yermack
Tailspotting: Identifying and profiting from CEO vacation trips
w17935 Zhiguo He
Wei Xiong

Debt Financing in Asset Markets
w17920 Zhiguo He
Gregor Matvos

Debt and Creative Destruction: Why Could Subsidizing Corporate Debt be Optimal?
w17909 Charles A.E. Goodhart
Anil K. Kashyap
Dimitrios P. Tsomocos
Alexandros P. Vardoulakis

Financial Regulation in General Equilibrium
w17904 Nikolai Roussanov
Pavel G. Savor

Status, Marriage, and Managers' Attitudes To Risk
w17874 Robert S. Harris
Tim Jenkinson
Steven N. Kaplan

Private Equity Performance: What Do We Know?
w17873 Nicola Cetorelli
Linda S. Goldberg

Follow the Money: Quantifying Domestic Effects of Foreign Bank Shocks in the Great Recession
w17867 Isil Erel
Yeejin Jang
Michael S. Weisbach

Financing-Motivated Acquisitions
w17856 Jongha Lim
Bernadette A. Minton
Michael S. Weisbach

Equity-Holding Institutional Lenders: Do they Receive Better Terms?
w17854 Kay Giesecke
Francis A. Longstaff
Stephen Schaefer
Ilya Strebulaev

Macroeconomic Effects of Corporate Default Crises: A Long-Term Perspective
w17831 Atif R. Mian
Amir Sufi
Francesco Trebbi

Resolving Debt Overhang: Political Constraints in the Aftermath of Financial Crises
w17808 Howard Bodenhorn
Voting Rights, Share Concentration, and Leverage at Nineteenth-Century US Banks
w17805 Murillo Campello
Dirk Hackbarth

The Firm-Level Credit Multiplier
w17797 Bo Becker
Daniel Bergstresser
Guhan Subramanian

Does Shareholder Proxy Access Improve Firm Value? Evidence from the Business Roundtable Challenge
w17763 Juan Carlos Gozzi
Ross Levine
Maria Soledad Martinez Peria
Sergio L. Schmukler

How Firms Use Domestic and International Corporate Bond Markets
w17760 Raghuram Rajan
The Corporation in Finance
2011
w17719 Philip Bond
Alex Edmans
Itay Goldstein

The Real Effects of Financial Markets
w17717 Gregor Matvos
Amit Seru

Resource Allocation within Firms and Financial Market Dislocation: Evidence from Diversified Conglomerates
w17696 Viral V. Acharya
Bart M. Lambrecht

A Theory of Income Smoothing When Insiders Know More Than Outsiders
w17663 Dirk Jenter
Katharina Lewellen

CEO Preferences and Acquisitions
w17661 Bo Becker
Per Strömberg

Fiduciary Duties and Equity-Debtholder Conflicts
w17660 Martin Goetz
Luc Laeven
Ross Levine

The Valuation Effects of Geographic Diversification: Evidence from U.S. Banks
w17631 Hui Tong
Shang-Jin Wei

Does Trade Globalization Induce or Inhibit Corporate Transparency? Unbundling the Growth Potential and Product Market Competition Channels
w17599 Patrick Bolton
Martin Oehmke

Should Derivatives be Privileged in Bankruptcy?
w17590 Antoinette Schoar
Luo Zuo

Shaped by Booms and Busts: How the Economy Impacts CEO Careers and Management Styles
w17582 Alex Edmans
Itay Goldstein
Wei Jiang

Feedback Effects and the Limits to Arbitrage
w17567 Alex Edmans
Vivian W. Fang
Emanuel Zur

The Effect of Liquidity on Governance
w17548 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

A Theory of Asset Pricing Based on Heterogeneous Information
w17518 Todd A. Gormley
Simon Johnson
Changyong Rhee

Ending "Too Big To Fail": Government Promises vs. Investor Perceptions
w17517 Alon Brav
Wei Jiang
Hyunseob Kim

The Real Effects of Hedge Fund Activism: Productivity, Asset Allocation, and Labor Outcomes
w17516 John Y. Campbell
João F. Cocco

A Model of Mortgage Default
w17509 Miriam Schwartz-Ziv
Michael Weisbach

What do Boards Really Do? Evidence from Minutes of Board Meetings
w17481 Bo Becker
Marcus Jacob
Martin Jacob

Payout Taxes and the Allocation of Investment
w17468 Efraim Benmelech
Eyal Dvir

Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis
w17463 Asli M. Arikan
René M. Stulz

Corporate Acquisitions, Diversification, and the Firm's Lifecycle
w17399 Steven J. Davis
John C. Haltiwanger
Ron S. Jarmin
Josh Lerner
Javier Miranda

Private Equity and Employment
w17394 John Asker
Joan Farre-Mensa
Alexander Ljungqvist

Comparing the Investment Behavior of Public and Private Firms
w17393 Bo Becker
Henrik Cronqvist
Rüdiger Fahlenbrach

Estimating the Effects of Large Shareholders Using a Geographic Instrument
w17387 John R. Graham
Sonali Hazarika
Krishnamoorthy Narasimhan

Corporate Governance, Debt, and Investment Policy during the Great Depression
w17370 John R. Graham
Campbell R. Harvey
Manju Puri

Capital Allocation and Delegation of Decision-Making Authority within Firms
w17368 John R. Graham
Si Li
Jiaping Qiu

Managerial Attributes and Executive Compensation
w17333 Malcolm Baker
Jeffrey Wurgler

Behavioral Corporate Finance: An Updated Survey
w17330 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

Information Aggregation, Investment, and Managerial Incentives
w17321 Marcin Kacperczyk
Philipp Schnabl

Implicit Guarantees and Risk Taking: Evidence from Money Market Funds
w17303 Carola Frydman
Raven Molloy

Pay Cuts for the Boss: Executive Compensation in the 1940s
w17292 Clemens Sialm
T. Mandy Tham

Spillover Effects in Mutual Fund Companies
w17290 Armen Hovakimian
Ayla Kayhan
Sheridan Titman

Are Corporate Default Probabilities Consistent with the Static Tradeoff Theory?
w17285 Xiaoji Lin
Lu Zhang

Covariances versus Characteristics in General Equilibrium
w17281 Darrell Duffie
Systemic Risk Exposures: A 10-by-10-by-10 Approach
w17237 Michelle J. White
Corporate and Personal Bankruptcy Law
w17233 Gordon M. Phillips
Giorgo Sertsios

How Do Firm Financial Conditions Affect Product Quality and Pricing?
w17221 Gerard Hoberg
Gordon M. Phillips

Conglomerate Industry Choice and Product Differentiation
w17197 Robin Greenwood
Samuel G. Hanson

Issuer Quality and the Credit Cycle
w17192 Efraim Benmelech
Nittai K. Bergman
Ricardo Enriquez

Negotiating with Labor Under Financial Distress
w17169 Chongyang Chen
Zhonglan Dai
Douglas Shackelford
Harold Zhang

Does Financial Constraint Affect Shareholder Taxes and the Cost of Equity Capital?
w17149 Bryan T. Kelly
Hanno Lustig
Stijn Van Nieuwerburgh

Too-Systemic-To-Fail: What Option Markets Imply About Sector-wide Government Guarantees
w17146 Leora F. Klapper
Luc Laeven
Raghuram Rajan

Trade Credit Contracts
w17144 Efraim Benmelech
Nittai K. Bergman
Amit Seru

Financing Labor
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Itamar Drechsler
Philipp Schnabl

A Pyrrhic Victory? - Bank Bailouts and Sovereign Credit Risk
w17134 Jingjing Chai
Raimond Maurer
Olivia S. Mitchell
Ralph Rogalla

Lifecycle Impacts of the Financial and Economic Crisis on Household Optimal Consumption, Portfolio Choice, and Labor Supply
w17127 Lucian A. Bebchuk
Alma Cohen
Charles C.Y. Wang

Staggered Boards and the Wealth of Shareholders: Evidence from Two Natural Experiments
w17065 Christopher J. Mayer
Edward Morrison
Tomasz Piskorski
Arpit Gupta

Mortgage Modification and Strategic Behavior: Evidence from a Legal Settlement with Countrywide
w17061 Antoinette Schoar
Ebonya L. Washington

Are the Seeds of Bad Governance Sown in Good Times?
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Denis Gromb
Holger M. Mueller
Fausto Panunzi

Legal Investor Protection and Takeovers
w17000 Viral V. Acharya
Alberto Bisin

Counterparty Risk Externality: Centralized Versus Over-the-counter Markets
w16995 Viral V. Acharya
Sergei A. Davydenko
Ilya A. Strebulaev

Cash Holdings and Credit Risk
w16975 Daniel Paravisini
Veronica Rappoport
Philipp Schnabl
Daniel Wolfenzon

Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data
w16941 Isil Erel
Brandon Julio
Woojin Kim
Michael S. Weisbach

Macroeconomic Conditions and Capital Raising
w16922 Thomas F. Hellmann
Noam Wasserman

The First Deal: The Division of Founder Equity in New Ventures
w16916 Craig Doidge
G. Andrew Karolyi
René M. Stulz

The U.S. Left Behind: The Rise of IPO Activity Around the World
w16905 Kalina Manova
Shang-Jin Wei
Zhiwei Zhang

Firm Exports and Multinational Activity Under Credit Constraints
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Irvind Gujral
Nirupama Kulkarni
Hyun Song Shin

Dividends and Bank Capital in the Financial Crisis of 2007-2009
w16875 Viral V. Acharya
Lars A. Lochstoer
Tarun Ramadorai

Limits to Arbitrage and Hedging: Evidence from Commodity Markets
w16874 Vikas Mehrotra
Randall Morck
Jungwook Shim
Yupana Wiwattanakantang

Adoptive Expectations: Rising Sons in Japanese Family Firms
w16871 Yongheng Deng
Randall Morck
Jing Wu
Bernard Yeung

Monetary and Fiscal Stimuli, Ownership Structure, and China's Housing Market
w16870 Randall Morck
Finance and Governance in Developing Economies
w16849 Taylor D. Nadauld
Michael S. Weisbach

Did Securitization Affect the Cost of Corporate Debt?
w16843 Chong Wang
Neng Wang
Jinqiang Yang

A Unified Model of Entrepreneurship Dynamics
w16842 Yingcong Lan
Neng Wang
Jinqiang Yang

The Economics of Hedge Funds: Alpha, Fees, Leverage, and Valuation
w16812 Carola Frydman
Raven S. Molloy

Does Tax Policy Affect Executive Compensation? Evidence from Postwar Tax Reforms
w16808 Patrick Bolton
Hui Chen
Neng Wang

Market Timing, Investment, and Risk Management
w16801 Andrew Ang
Sergiy Gorovyy
Gregory B. van Inwegen

Hedge Fund Leverage
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Edward J. Kane
Francisco Rodriguez-Fernandez

Safety-Net Benefits Conferred on Difficult-to-Fail-and-Unwind Banks in the US and EU Before and During the Great Recession
w16770 Ravi Jagannathan
Iwan Meier
Vefa Tarhan

The Cross-Section of Hurdle Rates for Capital Budgeting: An Empirical Analysis of Survey Data
w16752 Russell Cooper
Hubert Kempf

Deposit Insurance Without Commitment: Wall St. Versus Main St
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Lu Zhang

A Model of Momentum
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Luzi Hail
Christian Leuz

Capital-Market Effects of Securities Regulation: Prior Conditions, Implementation, and Enforcement
w16727 Thomas Philippon
Philipp Schnabl

Informational Rents, Macroeconomic Rents, and Efficient Bailouts
w16724 Heitor Almeida
Murillo Campello
Dirk Hackbarth

Liquidity Mergers
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Sara B. Moeller
Frederik P. Schlingemann
René M. Stulz

Globalization, Governance, and the Returns to Cross-Border Acquisitions
2010
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Stijn Van Nieuwerburgh

Predictability of Returns and Cash Flows
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Robert W. Vishny

Fire Sales in Finance and Macroeconomics
w16622 Murillo Campello
Chen Lin
Yue Ma
Hong Zou

The Real and Financial Implications of Corporate Hedging
w16620 Julio J. Rotemberg
A Behavioral Model of Demandable Deposits and its Implications for Financial Regulation
w16607 Markus K. Brunnermeier
Martin Oehmke

The Maturity Rat Race
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Dirk Jenter

CEO Compensation
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Annette Vissing-Jorgensen

The Increase in Income Cyclicality of High-Income Households and its Relation to the Rise in Top Income Shares
w16574 Vicente Cuñat
Mireia Gine
Maria Guadalupe

The Vote is Cast: The Effect of Corporate Governance on Shareholder Value
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Shareholder Democracy in Canada
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Holger M. Mueller
Alex Stomper
Arne Westerkamp

Snow and Leverage
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Bernard Yeung

Agency Problems and the Fate of Capitalism
w16485 Viral V. Acharya
Peter M. DeMarzo
Ilan Kremer

Endogenous Information Flows and the Clustering of Announcements
w16484 Viral V. Acharya
Ramin P. Baghai
Krishnamurthy V. Subramanian

Labor Laws and Innovation
w16445 Joseph P.H. Fan
Sheridan Titman
Garry Twite

An International Comparison of Capital Structure and Debt Maturity Choices
w16437 Lauren Cohen
Christopher Malloy

Friends in High Places
w16432 Tamim Bayoumi
Hui Tong
Shang-Jin Wei

The Chinese Corporate Savings Puzzle: A Firm-level Cross-country Perspective
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Yakov Amihud
Sreedhar T. Bharath

Liquidity Risk of Corporate Bond Returns: A Conditional Approach
w16377 Olivier Jeanne
Anton Korinek

Managing Credit Booms and Busts: A Pigouvian Taxation Approach
w16369 Ji-Woong Chung
Berk A. Sensoy
Lea H. Stern
Michael S. Weisbach

Pay for Performance from Future Fund Flows: The Case of Private Equity
w16340 Vikas Mehrotra
Randall Morck
Jungwook Shim
Yupana Wiwattanakantang

Must Love Kill the Family Firm?
w16336 Frederico Belo
Chen Xue
Lu Zhang

Cross-sectional Tobin's Q
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Financial Policies and the Financial Crisis: How Important Was the Systemic Credit Contraction for Industrial Corporations?
w16309 Murillo Campello
Erasmo Giambona
John R. Graham
Campbell R. Harvey

Liquidity Management and Corporate Investment During a Financial Crisis
w16228 Francesco Giavazzi
Alberto Giovannini

Central Banks and the Financial System
w16216 Aldo Musacchio
Law and Finance c. 1900
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John R. Graham
Campbell R. Harvey

Managerial Miscalibration
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Andrei Jirnyi
Ann Sherman

Why Don't Issuers Choose IPO Auctions? The Complexity of Indirect Mechanisms
w16210 Bart M. Lambrecht
Stewart C. Myers

A Litner Model of Payout and Managerial Rents
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Nancy Wallace

CMBS Subordination, Ratings Inflation, and the Crisis of 2007-2009
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Nittai K. Bergman

Credit Traps
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Gregor Matvos
Chad Syverson
Sriram Venkataraman

Are Consumers Affected by Durable Goods Makers' Financial Distress? The Case of Auto Manufacturers
w16178 Andrew Ellul
Vijay Yerramilli

Stronger Risk Controls, Lower Risk: Evidence from U.S. Bank Holding Companies
w16176 Ing-Haw Cheng
Harrison Hong
Jose A. Scheinkman

Yesterday's Heroes: Compensation and Creative Risk-Taking
w16175 Antje Berndt
Burton Hollifield
Patrik Sandås

The Role of Mortgage Brokers in the Subprime Crisis
w16157 François Gourio
Jianjun Miao

Transitional Dynamics of Dividend and Capital Gains Tax Cuts
w16151 Hui Chen
Macroeconomic Conditions and the Puzzles of Credit Spreads and Capital Structure
w16129 Jennifer Blouin
Jana Raedy
Douglas Shackelford

Dividends, Share Repurchases, and Tax Clienteles: Evidence from the 2003 Reductions in Shareholder Taxes
w16122 Viral V. Acharya
Heitor Almeida
Murillo Campello

Aggregate Risk and the Choice between Cash and Lines of Credit
w16080 V.V. Chari
Ali Shourideh
Ariel Zetlin-Jones

Adverse Selection, Reputation and Sudden Collapses in Secondary Loan Markets
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Philipp Schnabl

Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007-09
w16060 Thomas Chaney
David Sraer
David Thesmar

The Collateral Channel: How Real Estate Shocks Affect Corporate Investment
w16023 Jules H. van Binsbergen
John Graham
Jie Yang

The Cost of Debt
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Martin Oehmke

Credit Default Swaps and the Empty Creditor Problem
w15992 Hernán Ortiz-Molina
Gordon M. Phillips

Asset Liquidity and the Cost of Capital
w15987 Alex Edmans
Xavier Gabaix

Risk and the CEO Market: Why Do Some Large Firms Hire Highly-Paid, Low-Talent CEOs?
w15974 Nicola Cetorelli
Linda S. Goldberg

Global Banks and International Shock Transmission: Evidence from the Crisis
w15952 Ulf Axelson
Tim Jenkinson
Per Strömberg
Michael S. Weisbach

Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts
w15951 Heitor Almeida
Murillo Campello
Antonio F. Galvao Jr.

Measurement Errors in Investment Equations
w15948 Robin Greenwood
Samuel Hanson

Characteristic Timing
w15937 Andrew Ang
Nicolas P.B. Bollen

Locked Up by a Lockup: Valuing Liquidity as a Real Option
w15924 Luigi Pistaferri
Luigi Guiso
Fabiano Schivardi

Credit within the firm
w15917 Rüdiger Fahlenbrach
Angie Low
René M. Stulz

The dark side of outside directors: Do they quit when they are most needed?
w15912 Lucian A. Bebchuk
Alma Cohen
Charles C.Y. Wang

Learning and the Disappearing Association Between Governance and Returns
w15910 Sergey Chernenko
C. Fritz Foley
Robin Greenwood

Agency Costs, Mispricing, and Ownership Structure
w15906 John R. Graham
Campbell R. Harvey
Manju Puri

A Corporate Beauty Contest
w15884 Randall Morck
Fan Yang

The Shanxi Banks
w15817 Marcus Miller
Joseph E. Stiglitz

Leverage and Asset Bubbles: Averting Armageddon with Chapter 11?
w15848 Kay Giesecke
Francis A. Longstaff
Stephen Schaefer
Ilya Strebulaev

Corporate Bond Default Risk: A 150-Year Perspective
w15839 Lauren Cohen
Joshua D. Coval
Christopher Malloy

Do Powerful Politicians Cause Corporate Downsizing?
w15837 Viral V. Acharya
S. Viswanathan

Leverage, Moral Hazard and Liquidity
w15806 Gara Afonso
Anna Kovner
Antoinette Schoar

Stressed not Frozen: The Fed Funds Market in the Financial Crisis
w15792 Yuriy Gorodnichenko
Monika Schnitzer

Financial constraints and innovation: Why poor countries don't catch up
weis10-1 Michael Weisbach
editor

Corporate Governance
w15763 Linda S. Goldberg
Craig Kennedy
Jason Miu

Central Bank Dollar Swap Lines and Overseas Dollar Funding Costs
w15735 Efraim Benmelech
Nittai K. Bergman

Vintage Capital and Creditor Protection
w15718 Joseph E. Stiglitz
Risk and Global Economic Architecture: Why Full Financial Integration May Be Undesirable
w15710 Kris James Mitchener
David C. Wheelock

Does the Structure of Banking Markets Affect Economic Growth? Evidence from U.S. State Banking Markets
w15708 Efraim Benmelech
Nittai K. Bergman

Bankruptcy and the Collateral Channel
w15674 Viral V. Acharya
Douglas Gale
Tanju Yorulmazer

Rollover Risk and Market Freezes
w15659 Ulrike Malmendier
Geoffrey Tate
Jonathan Yan

Overconfidence and Early-life Experiences: The Impact of Managerial Traits on Corporate Financial Policies
w15653 Zhiguo He
Wei Xiong

Rollover Risk and Credit Risk
w15636 Ricardo J. Caballero
The "Other" Imbalance and the Financial Crisis
w15632 Shai Bernstein
Josh Lerner
Morten Sørensen
Per Strömberg

Private Equity and Industry Performance
w15631 Charles Yuji Horioka
Shizuka Sekita

The Degree of Judicial Enforcement and Credit Markets: Evidence from Japanese Household Panel Data
2009
w15575 Randall Morck
M. Deniz Yavuz
Bernard Yeung

Banking System Control, Capital Allocation, and Economy Performance
w15569 Viral V. Acharya
Yakov Amihud
Lubomir Litov

Creditor rights and corporate risk-taking
w15568 Viral V. Acharya
Stewart C. Myers
Raghuram Rajan

The Internal Governance of Firms
w15567 Viral V. Acharya
Hyun Song Shin
Tanju Yorulmazer

Crisis Resolution and Bank Liquidity
w15552 Murillo Campello
John Graham
Campbell R. Harvey

The Real Effects of Financial Constraints: Evidence from a Financial Crisis
w15551 Malcolm Baker
Xin Pan
Jeffrey Wurgler

A Reference Point Theory of Mergers and Acquisitions
w15545 Alex Edmans
Xavier Gabaix

Tractability in Incentive Contracting
w15537 Lucian A. Bebchuk
Michael S. Weisbach

The State of Corporate Governance Research
w15515 Christian Laux
Christian Leuz

Did Fair-Value Accounting Contribute to the Financial Crisis?
w15454 Katheryn N. Russ
Diego Valderrama

A Theory of Banks, Bonds, and the Distribution of Firm Size
w15426 Gian Luca Clementi
Thomas F. Cooley

Executive Compensation: Facts
w15356 Stelios Michalopoulos
Luc Laeven
Ross Levine

Financial Innovation and Endogenous Growth
w15327 Clemens Sialm
Laura Starks

Mutual Fund Tax Clienteles
w15325 Bronwyn H. Hall
Josh Lerner

The Financing of R&D and Innovation
w15324 Alex Edmans
Xavier Gabaix
Tomasz Sadzik
Yuliy Sannikov

Dynamic Incentive Accounts
w15283 Atif R. Mian
Amir Sufi

House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis
w15273 Gary B. Gorton
Andrew Metrick

Haircuts
w15248 Michael Faulkender
Mitchell Petersen

Investment and Capital Constraints: Repatriations Under the American Jobs Creation Act
w15212 Rüdiger Fahlenbrach
René M. Stulz

Bank CEO Incentives and the Credit Crisis
w15207 Hui Tong
Shang-Jin Wei

The Composition Matters: Capital Inflows and Liquidity Crunch during a Global Economic Crisis
w15197 Douglas W. Diamond
Raghuram G. Rajan

Illiquidity and Interest Rate Policy
w15185 James R. Hines
Jr.

Income Misattribution under Formula Apportionment
w15184 Stefano DellaVigna
Joshua M. Pollet

Capital Budgeting vs. Market Timing: An Evaluation Using Demographics
w15180 Andrea Beltratti
René M. Stulz

Why Did Some Banks Perform Better During the Credit Crisis? A Cross-Country Study of the Impact of Governance and Regulation
w15177 John R. Graham
Hyunseob Kim

The Effects of the Length of the Tax-Loss Carryback Period on Tax Receipts and Corporate Marginal Tax Rates
w15175 Bo Becker
Zoran Ivković
Scott Weisbenner

Local Dividend Clienteles
w15145 Luigi Guiso
Paola Sapienza
Luigi Zingales

Moral and Social Constraints to Strategic Default on Mortgages
w15143 Cindy R. Alexander
Mark A. Chen
Duane J. Seppi
Chester S. Spatt

The Role of Advisory Services in Proxy Voting
w15139 Bruce Ian Carlin
Simon Gervais
Gustavo Manso

When Does Libertarian Paternalism Work?
w15132 Isil Erel
Rose C. Liao
Michael S. Weisbach

World Markets for Mergers and Acquisitions
w15058 Stavros Panageas
Bailouts, the Incentive to Manage Risk, and Financial Crises
w15051 Randall Morck
Generalized Agency Problems
w15045 Efraim Benmelech
Jennifer Dlugosz

The Credit Rating Crisis
w15044 Francois Gourio
Jianjun Miao

Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform
w15042 Randall Morck
Bernard Yeung

Never Waste a Good Crisis: An Historical Perspective on Comparative Corporate Governance
w15023 Dhammika Dharmapala
C. Fritz Foley
Kristin J. Forbes

Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act
w14990 Heitor Almeida
Murillo Campello
Bruno Laranjeira
Scott Weisbenner

Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis
w14983 Heitor Almeida
Sang Yong Park
Marti Subrahmanyam
Daniel Wolfenzon

The Structure and Formation of Business Groups: Evidence from Korean Chaebols
w14952 Isil Erel
Brandon Julio
Woojin Kim
Michael Weisbach

Market Conditions and the Structure of Securities
w14944 Gary B. Gorton
Lixin Huang
Qiang Kang

The Limitations of Stock Market Efficiency: Price Informativeness and CEO Turnover
w14943 Andrei Shleifer
Robert W. Vishny

Unstable Banking
w14932 Joseph Golec
John Vernon

What's the "Interest" in FDA Drug Advisory Committee Conflicts of Interest?
w14931 Söhnke M. Bartram
Gregory Brown
René M. Stulz

Why Do Foreign Firms Have Less Idiosyncratic Risk than U.S. Firms?
w14929 Thomas Philippon
Philipp Schnabl

Efficient Recapitalization
w14897 Christian Leuz
Catherine Schrand

Disclosure and the Cost of Capital: Evidence from Firms' Responses to the Enron Shock
w14892 Eric Hilt
Wall Street's First Corporate Governance Crisis: The Panic of 1826
w14890 Darren J. Kisgen
Philip E. Strahan

Do Regulations Based on Credit Ratings Affect a Firm's Cost of Capital?
w14889 Zhi Da
Re-Jin Guo
Ravi Jagannathan

CAPM for Estimating the Cost of Equity Capital: Interpreting the Empirical Evidence
w14881 Richard A. Lambert
Christian Leuz
Robert E. Verrecchia

Information Asymmetry, Information Precision, and the Cost of Capital
w14877 Xavier Giroud
Holger M. Mueller

Does Corporate Governance Matter in Competitive Industries?
w14858 Randall Morck
The Riddle of the Great Pyramids
w14848 Hui Chen
Jianjun Miao
Neng Wang

Entrepreneurial Finance and Non-diversifiable Risk
w14845 Patrick Bolton
Hui Chen
Neng Wang

A Unified Theory of Tobin's q, Corporate Investment, Financing, and Risk Management
w14786 Anusha Chari
Wenjie Chen
Kathryn M.E. Dominguez

Foreign Ownership and Firm Performance: Emerging-Market Acquisitions in the United States
w14769 Philippe Aghion
John Van Reenen
Luigi Zingales

Innovation and Institutional Ownership
w14727 Markus K. Brunnermeier
Motohiro Yogo

A Note on Liquidity Risk Management
w14724 Leonce L. Bargeron
Frederik P. Schlingemann
René M. Stulz
Chad J. Zutter

Do Target CEOs Sell Out Their Shareholders to Keep Their Job in a Merger?
w14661 Hanno Lustig
Chad Syverson
Stijn Van Nieuwerburgh

Technological Change and the Growing Inequality in Managerial Compensation
w15611 Stefano Battiston
Domenico Delli Gatti
Mauro Gallegati
Bruce C. Greenwald
Joseph E. Stiglitz

Liaisons Dangereuses: Increasing Connectivity, Risk Sharing, and Systemic Risk
w14650 Joseph P.H. Fan
Jun Huang
Randall Morck
Bernard Yeung

Vertical Integration, Institutional Determinants and Impact: Evidence from China
2008
w14625 Patrick Bajari
Chenghuan Sean Chu
Minjung Park

An Empirical Model of Subprime Mortgage Default From 2000 to 2007
w14623 Josh Lerner
Morten Sørensen
Per Strömberg

Private Equity and Long-Run Investment: The Case of Innovation
w14616 J. Christina Wang
Susanto Basu
John G. Fernald

A General-Equilibrium Asset-Pricing Approach to the Measurement of Nominal and Real Bank Output
w14615 Susanto Basu
Robert Inklaar
J. Christina Wang

The Value of Risk: Measuring the Service Output of U.S. Commercial Banks
w14614 J. Christina Wang
Susanto Basu

Risk Bearing, Implicit Financial Services and Specialization in the Financial Industry
w14548 Charles R. Hulten
Xiaohui Hao

What is a Company Really Worth? Intangible Capital and the "Market to Book Value" Puzzle
w14581 Robert E. Hall
Equity Depletion from Government-Guaranteed Debt
w14557 C. Fritz Foley
Robin Greenwood

The Evolution of Corporate Ownership After IPO: The Impact of Investor Protection
w14531 Kalina Manova
Credit Constraints, Heterogeneous Firms, and International Trade
w14525 Thomas J. Brennan
Andrew W. Lo

Impossible Frontiers
w14494 Alan J. Auerbach
Michael P. Devereux
Helen Simpson

Taxing Corporate Income
w14488 Joshua D. Rauh
Amir Sufi

Capital Structure and Debt Structure
w14486 Renée Adams
Benjamin E. Hermalin
Michael S. Weisbach

The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey
w14480 Harold L. Cole
Self-Enforcing Stochastic Monitoring and the Separation of Debt and Equity Claims
w14465 Amir E. Khandani
Andrew W. Lo

What Happened To The Quants In August 2007?: Evidence from Factors and Transactions Data
w14427 Alexander W. Blocker
Laurence J. Kotlikoff
Stephen A. Ross

The True Cost of Social Security
w14401 Takeo Hoshi
Anil K. Kashyap

Will the U.S. Bank Recapitalization Succeed? Eight Lessons from Japan
w14331 Phillip Leslie
Paul Oyer

Managerial Incentives and Value Creation: Evidence from Private Equity
w14291 Vojislav Maksimovic
Gordon Phillips
N. R. Prabhala

Post-Merger Restructuring and the Boundaries of the Firm
w14290 Gerard Hoberg
Gordon M. Phillips

Real and Financial Industry Booms and Busts
w14289 Gerard Hoberg
Gordon M. Phillips

Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis
w14250 Manju Puri
Rebecca Zarutskie

On the Lifecycle Dynamics of Venture-Capital- and Non-Venture-Capital-Financed Firms
w14245 Craig Doidge
G. Andrew Karolyi
René M. Stulz

Why Do Foreign Firms Leave U.S. Equity Markets?
w14232 Lauren Cohen
Andrea Frazzini
Christopher Malloy

Hiring Cheerleaders: Board Appointments of "Independent" Directors
w14219 Robert E. Hall
Susan E. Woodward

The Burden of the Nondiversifiable Risk of Entrepreneurship
w14218 René M. Stulz
Securities Laws, Disclosure, and National Capital Markets in the Age of Financial Globalization
w14207 Steven N. Kaplan
Per Strömberg

Leveraged Buyouts and Private Equity
w14205 Hui Tong
Shang-Jin Wei

Real Effects of the Subprime Mortgage Crisis: Is it a Demand or a Finance Shock?
w14195 Steven N. Kaplan
Mark M. Klebanov
Morten Sorensen

Which CEO Characteristics and Abilities Matter?
w14189 Toby Stuart
Soojin Yim

Board Interlocks and the Propensity to be Targeted in Private Equity Transactions
w14187 Shourun Guo
Edie S. Hotchkiss
Weihong Song

Do Buyouts (Still) Create Value?
w14183 Yeon-Koo Che
Kathryn E. Spier

Strategic Judgment Proofing
w14179 Michelle J. White
Ning Zhu

Saving Your Home in Chapter 13 Bankruptcy
w14148 Alexander Peter Groh
Oliver Gottschalg

The Opportunity Cost of Capital of US Buyouts
w14145 Carola Frydman
Raven E. Saks

Executive Compensation: A New View from a Long-Term Perspective, 1936-2005
w14140 Ulrike Malmendier
Geoffrey Tate

Superstar CEOs
w14113 Luc Laeven
Ross Levine

Bank Governance, Regulation, and Risk Taking
w14101 Nicola Cetorelli
Linda S. Goldberg

Banking Globalization, Monetary Transmission, and the Lending Channel
w14087 Robin Greenwood
Samuel Hanson
Jeremy C. Stein

A Gap-Filling Theory of Corporate Debt Maturity Choice
w14085 Sharon Katz
Earnings Quality and Ownership Structure: The Role of Private Equity Sponsors
w14078 Olivia S. Mitchell
John Piggott
Cagri Kumru

Managing Public Investment Funds: Best Practices and New Challenges
w14059 Efraim Benmelech
Nittai K. Bergman

Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines
w14027 Kathy Fogel
Randall Morck
Bernard Yeung

Big Business Stability and Social Welfare
w13984 Jiandong Ju
Shang-Jin Wei

When Is Quality of Financial System a Source of Comparative Advantage?
w13914 Susan Perkins
Randall Morck
Bernard Yeung

Innocents Abroad: The Hazards of International Joint Ventures with Pyramidal Group Firms
w13874 Efraim Benmelech
Nittai K. Bergman

Collateral Pricing
w13858 Anton Korinek
Joseph E. Stiglitz

Dividend Taxation and Intertemporal Tax Arbitrage
w13802 Evan Gatev
Philip Strahan

Liquidity Risk and Syndicate Structure
w13794 Cristina Arellano
Narayana R. Kocherlakota

Internal Debt Crises and Sovereign Defaults
w13786 Joseph Chen
Samuel Hanson
Harrison Hong
Jeremy C. Stein

Do Hedge Funds Profit From Mutual-Fund Distress?
w13774 Charles Calomiris
Raymond Fisman
Yongxiang Wang

Profiting from Government Stakes in a Command Economy: Evidence from Chinese Asset Sales
w13762 Malcolm Baker
Robin Greenwood
Jeffrey Wurgler

Catering Through Nominal Share Prices
w13756 Simeon Djankov
Tim Ganser
Caralee McLiesh
Rita Ramalho
Andrei Shleifer

The Effect of Corporate Taxes on Investment and Entrepreneurship
w13738 Marianne Bertrand
Simon Johnson
Krislert Samphantharak
Antoinette Schoar

Mixing Family With Business: A Study of Thai Business Groups and the Families Behind Them
w13732 Efraim Benmelech
Eugene Kandel
Pietro Veronesi

Stock-Based Compensation and CEO (Dis)Incentives
w13726 Julia Coronado
Olivia S. Mitchell
Steven A. Sharpe
S. Blake Nesbitt

Footnotes Aren't Enough: The Impact of Pension Accounting on Stock Values
w13721 Woochan Kim
Taeyoon Sung
Shang-Jin Wei

How Does Corporate Governance Risk at Home Affect Investment Choices Abroad?
2007
w13711 Itzhak Ben-David
John R. Graham
Campbell R. Harvey

Managerial Overconfidence and Corporate Policies
w13709 John R. Graham
Lillian F. Mills

Using Tax Return Data to Simulate Corporate Marginal Tax Rates
w13708 John R. Graham
Si Li
Jiaping Qiu

Corporate Misreporting and Bank Loan Contracting
w13706 Brandon Julio
Woojin Kim
Michael Weisbach

What Determines the Structure of Corporate Debt Issues?
w13702 Lucian A. Bebchuk
Zvika Neeman

Investor Protection and Interest Group Politics
w13701 Lucian A. Bebchuk
Martijn Cremers
Urs Peyer

CEO Centrality
w13660 Andres Almazan
Adolfo de Motta
Sheridan Titman
Vahap Uysal

Financial Structure, Liquidity, and Firm Locations
w13641 Vladimir Atanasov
Vladimir Ivanov
Kate Litvak

The Impact of Litigation on Venture Capitalist Reputation
w13640 Murillo Campello
John Graham

Do Stock Prices Influence Corporate Decisions? Evidence from the Technology Bubble
w13604 Joseph H. Golec
John A. Vernon

Financial Risk in the Biotechnology Industry
w13601 Jennifer L. Blouin
Jana Smith Raedy
Douglas A. Shackelford

Did Firms Substitute Dividends for Share Repurchases after the 2003 Reductions in Shareholder Tax Rates?
w13584 Thomas Philippon
Yuliy Sannikov

Real Options in a Dynamic Agency Model, with Applications to Financial Development, IPOs, and Business Risk
w13570 Ulrike Malmendier
Geoffrey Tate
Jonathan Yan

Corporate Financial Policies With Overconfident Managers
w13538 Raj Chetty
Emmanuel Saez

An Agency Theory of Dividend Taxation
w13525 Jin Ginger Wu
Lu Zhang
X. Frank Zhang

Understanding the Accrual Anomaly
w13475 George-Marios Angeletos
Guido Lorenzoni
Alessandro Pavan

Wall Street and Silicon Valley: A Delicate Interaction
w13435 Joseph P.H. Fan
Randall Morck
Lixin Colin Xu
Bernard Yeung

Institutions and Foreign Investment: China versus the World
w13427 Siddhartha G. Dastidar
Raymond Fisman
Tarun Khanna

Testing Limits to Policy Reversal: Evidence from Indian Privatizations
w13426 Bronwyn H. Hall
Grid Thoma
Salvatore Torrisi

The market value of patents and R&D: Evidence from European firms
w13405 Thomas Philippon
Why Has the U.S. Financial Sector Grown so Much? The Role of Corporate Finance.
w13399 Kaoru Hosono
Koji Sakai
Kotaro Tsuru

Consolidation of Banks in Japan: Causes and Consequences
w13387 Paola Sapienza
Anna Toldra
Luigi Zingales

Understanding Trust
w13372 Alex Edmans
Xavier Gabaix
Augustin Landier

A Calibratable Model of Optimal CEO Incentives in Market Equilibrium
w13315 Simon Gilchrist
Jae W. Sim

Investment during the Korean Financial Crisis: A Structural Econometric Analysis
w13288 Reena Aggarwal
Isil Erel
René Stulz
Rohan Williamson

Differences in Governance Practices between U.S. and Foreign Firms: Measurement, Causes, and Consequences
w13285 Harry DeAngelo
Linda DeAngelo
René M. Stulz

Fundamentals, Market Timing, and Seasoned Equity Offerings
w13283 Mihir A. Desai
Li Jin

Institutional Tax Clienteles and Payout Policy
w13282 Long Chen
Lu Zhang

Neoclassical Factors
w13274 Jarrad Harford
Dirk Jenter
Kai Li

Conflicts of Interests Among Shareholders: The Case of Corporate Acquisitions
w13270 Steven N. Kaplan
Joshua Rauh

Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?
w13268 Jeremy I. Bulow
Paul D. Klemperer

When are Auctions Best?
w13265 Michelle J. White
Bankruptcy Reform and Credit Cards
w13251 Rui Albuquerque
Neng Wang

Agency Conflicts, Investment, and Asset Pricing
w13250 Jianjun Miao
Neng Wang

Investment, Consumption, and Hedging under Incomplete Markets
w13240 Joshua Rauh
Risk Shifting versus Risk Management: Investment Policy in Corporate Pension Plans
w13202 Rüdiger Fahlenbrach
René M. Stulz

Managerial Ownership Dynamics and Firm Value
w13171 Randall Morck
Masao Nakamura

Business Groups and the Big Push: Meiji Japan's Mass Privatization and Subsequent Growth
w13132 Mihir A. Desai
Dhammika Dharmapala

Taxes, Institutions and Foreign Diversification Opportunities
w13093 Eric Hilt
When did Ownership Separate from Control? Corporate Governance in the Early Nineteenth Century
w13092 Guido Lorenzoni
Karl Walentin

Financial Frictions, Investment and Tobin's q
w13079 Craig Doidge
G. Andrew Karolyi
Rene M. Stulz

Has New York Become Less Competitive in Global Markets? Evaluating Foreign Listing Choices Over Time
w13061 Leonce Bargeron
Frederik Schlingemann
Rene M. Stulz
Chad Zutter

Why Do Private Acquirers Pay So Little Compared to Public Acquirers?
w13056 Robert E. Hall
Susan E. Woodward

The Incentives to Start New Companies: Evidence from Venture Capital
w13014 Jonathan B. Berk
Richard Stanton
Josef Zechner

Human Capital, Bankruptcy and Capital Structure
w13011 Hyunbae Chun
Jung-Wook Kim
Randall Morck
Bernard Yeung

Creative Destruction and Firm-Specific Performance Heterogeneity
w13005 Hirofumi Uchida
Gregory F.Udell
Wako Watanabe

Bank Size and Lending Relationships in Japan
w12990 Kristian R. Miltersen
Eduardo S. Schwartz

Real Options With Uncertain Maturity and Competition
w12952 Yael V. Hochberg
Paola Sapienza
Annette Vissing-Jorgensen

A Lobbying Approach to Evaluating the Sarbanes-Oxley Act of 2002
w12918 Charles W. Calomiris
Doron Nissim

Activity-Based Valuation of Bank Holding Companies
w12882 Alexander Dyck
Adair Morse
Luigi Zingales

Who Blows the Whistle on Corporate Fraud?
w12875 Benjamin E. Hermalin
Michael S. Weisbach

Transparency and Corporate Governance
w12855 Pol Antràs
Mihir A. Desai
C. Fritz Foley

Multinational Firms, FDI Flows and Imperfect Capital Markets
w12851 Efraim Benmelech
Tobias J. Moskowitz

The Political Economy of Financial Regulation: Evidence from U.S. State Usury Laws in the 19th Century
w12847 Borja Larrain
Motohiro Yogo

Does Firm Value Move Too Much to be Justified by Subsequent Changes in Cash Flow?
w12833 Francesco Caselli
Nicola Gennaioli

Economics and Politics of Alternative Institutional Reforms
w12826 Ulf Axelson
Per Stromberg
Michael S. Weisbach

Why are Buyouts Levered: The Financial Structure of Private Equity Funds
w12819 Reena Aggarwal
Isil Erel
Rene M. Stulz
Rohan Williamson

Do U.S. Firms Have the Best Corporate Governance? A Cross-Country Examination of the Relation between Corporate Governance and Shareholder Wealth
2006
w12811 Lucian A. Bebchuk
Yaniv Grinstein
Urs Peyer

Lucky Directors
w12807 Simeon Djankov
Oliver Hart
Caralee McLiesh
Andrei Shleifer

Debt Enforcement Around the World
w12798 Michael S. Weisbach
Optimal Executive Compensation vs. Managerial Power: A Review of Lucian Bebchuk and Jesse Fried's "Pay without Performance: The Unfulfilled Promise of Executive Compensation"
w12792 Lubos Pastor
Lucian Taylor
Pietro Veronesi

Entrepreneurial Learning, the IPO Decision, and the Post-IPO Drop in Firm Profitability
w12773 Heitor Almeida
Murillo Campello
Michael S. Weisbach

Corporate Financial and Investment Policies when Future Financing is not Frictionless
w12771 Lucian A. Bebchuk
Yaniv Grinstein
Urs Peyer

Lucky CEOs
w12765 Enrichetta Ravina
Paola Sapienza

What Do Independent Directors Know? Evidence from Their Trading
w12739 Holger M. Mueller
Thomas Philippon

Family Firms, Paternalism, and Labor Relations
w12724 Dirk Jenter
Katharina Lewellen
Jerold B. Warner

Security Issue Timing: What Do Managers Know, and When Do They Know It?
w12705 Edward J. Kane
Basel II: A Contracting Perspective
w12675 Luc Laeven
Ross Levine

Complex Ownership Structures and Corporate Valuations
w12649 C. Fritz Foley
Jay C. Hartzell
Sheridan Titman
Garry Twite

Why do firms hold so much cash? A tax-based explanation
w12644 Charles Calomiris
Devaluation with Contract Redenomination in Argentina
w12626 Jerry Cao
Josh Lerner

The Performance of Reverse Leveraged Buyouts
w12612 Atif Mian
Asim Ijaz Khwaja

Tracing the Impact of Bank Liquidity Shocks: Evidence from an Emerging Market
w12555 Dmitry Livdan
Horacio Sapriza
Lu Zhang

Financially Constrained Stock Returns
w12534 Thomas W. Bates
Kathleen M. Kahle
Rene M. Stulz

Why Do U.S. Firms Hold So Much More Cash Than They Used To?
w12525 Alexander Dyck
Natalya Volchkova
Luigi Zingales

The Corporate Governance Role of the Media: Evidence from Russia
w12500 John Ammer
Sara B. Holland
David C. Smith
Francis E. Warnock

Look at Me Now: What Attracts U.S. Shareholders?
w12465 Steven N. Kaplan
Bernadette Minton

How has CEO Turnover Changed? Increasingly Performance Sensitive Boards and Increasingly Uneasy CEOs
w12463 Alan J. Auerbach
Why Have Corporate Tax Revenues Declined? Another Look
w12462 Thomas Philippon
The Bond Market's q
w12438 Leemore Dafny
David Dranove

Regulatory Exploitation and the Market for Corporate Controls
w12389 Bong-Chan Kho
René M. Stulz
Francis E. Warnock

Financial Globalization, Governance, and the Evolution of the Home Bias
w12365 Xavier Gabaix
Augustin Landier

Why Has CEO Pay Increased So Much?
w12359 Yingjin Hila Gan
Christopher Mayer

Agency Conflicts, Asset Substitution, and Securitization
w12356 Morten Bennedsen
Kasper M. Nielsen
Francisco Pérez-González
Daniel Wolfenzon

Inside the Family Firm: The Role of Families in Succession Decisions and Performance
w12308 Urban Jermann
Vincenzo Quadrini

Financial Innovations and Macroeconomic Volatility
w12297 Vojislav Maksimovic
Gordon Phillips

The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?
w12295 Michelle Lowry
Micah S. Officer
G. William Schwert

The Variability of IPO Initial Returns
w12292 Roger Gordon
Martin Dietz

Dividends and Taxes
w12288 Malcolm Baker
Stefan Nagel
Jeffrey Wurgler

The Effect of Dividends on Consumption
w12276 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Capital Structure with Risky Foreign Investment
w12222 Christian Leuz
Karl V. Lins
Francis E. Warnock

Do Foreigners Invest Less in Poorly Governed Firms?
w12220 Fang Cai
Francis E. Warnock

International Diversification at Home and Abroad
w12203 Andrew Ang
Li Gu
Yael V. Hochberg

Is IPO Underperformance a Peso Problem?
w12151 Ravi Jagannathan
Ann E. Sherman

Why Do IPO Auctions Fail?
w12129 Ricardo J. Caballero
Takeo Hoshi
Anil K. Kashyap

Zombie Lending and Depressed Restructuring in Japan
w12127 Galina Hale
Assaf Razin
Hui Tong

Institutional Weakness and Stock Price Volatility
w12107 Patrick Bolton
Jose Scheinkman
Wei Xiong

Pay for Short-Term Performance: Executive Compensation in Speculative Markets
w12087 Heitor Almeida
Murillo Campello

Financial Constraints, Asset Tangibility, and Corporate Investment
w12068 Dirk Jenter
Fadi Kanaan

CEO Turnover and Relative Performance Evaluation
w12050 Benjamin E. Hermalin
Michael S. Weisbach

A Framework for Assessing Corporate Governance Reform
w12042 Steven R. Grenadier
Neng Wang

Investment Under Uncertainty and Time-Inconsistent Preferences
w11989 Justin Wolfers
Diagnosing Discrimination: Stock Returns and CEO Gender
w11962 Darrell Duffie
Leandro Siata
Ke Wang

Multi-Period Corporate Default Prediction With Stochastic Covariates
w11961 Sanjiv Das
Darrell Duffie
Nikunj Kapadia
Leandro Saita

Common Failings: How Corporate Defaults are Correlated
w11950 Kevin F. Hallock
Craig Olson

The Value of Stock Options to Non-Executive Employees
w11914 A. Burak Güner
Ulrike Malmendier
Geoffrey Tate

Financial Expertise of Directors
w11912 Rene M. Stulz
Financial Globalization, Corporate Governance, and Eastern Europe
2005
w11907 Lucian A. Bebchuk
Robert J. Jackson
Jr.

Executive Pensions
w11886 Lucian Bebchuk
Yaniv Grinstein

Firm Expansion and CEO Pay
w11883 Simeon Djankov
Rafael LaPorta
Florencio Lopez-de-Silanes
Andrei Shleifer

The Law and Economics of Self-Dealing
w11882 Owen A. Lamont
Jeremy C. Stein

Investor Sentiment and Corporate Finance: Micro and Macro
w11797 Woojin Kim
Michael S. Weisbach

Motivations for Public Equity Offers: An International Perspective
w11757 Itay Goldstein
Assaf Razin

An Information-Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment
w11728 Raghuram G. Rajan
Has Financial Development Made the World Riskier?
w11685 Heitor Almeida
Thomas Philippon

The Risk-Adjusted Cost of Financial Distress
w11683 Stefano DellaVigna
Joshua Pollet

Investor Inattention, Firm Reaction, and Friday Earnings Announcements
w11624 Zsuzsanna Fluck
Kedran Garrison
Stewart C. Myers

Venture Capital Contracting and Syndication: An Experiment in Computational Corporate Finance
w11581 Steven N. Kaplan
Berk A. Sensoy
Per Strömberg

What Are Firms? Evolution from Birth to Public Companies
w11573 Simi Kedia
Thomas Philippon

The Economics of Fraudulent Accounting
w11536 Michelle J. White
Economic Analysis of Corporate and Personal Bankruptcy Law
w11526 Andrea Frazzini
Owen A. Lamont

Dumb Money: Mutual Fund Flows and the Cross-Section of Stock Returns
w11505 Jean Helwege
Christo Pirinsky
René M. Stulz

Why Do Firms Become Widely Held? An Analysis of the ynamics of Corporate Ownership
w11499 Luc Laeven
Ross Levine

Is There a Diversification Discount in Financial Conglomerates?
w11498 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Bank Supervision and Corruption in Lending
w11478 Michael Greenstone
Paul Oyer
Annette Vissing-Jorgensen

Mandated Disclosure, Stock Returns, and the 1964 Securities Acts Amendments
w11469 Mihir A. Desai
Dhammika Dharmapala
Winnie Fung

Taxation and the Evolution of Aggregate Corporate Ownership Concentration
w11459 Evgeny Lyandres
Le Sun
Lu Zhang

Investment-Based Underperformance Following Seasoned Equity Offerings
w11450 Andrew A. Toole
Dirk Czarnitzki

Biomedical Academic Entrepreneurship Through the SBIR Program
w11443 Lucian Bebchuk
Yaniv Grinstein

The Growth of Executive Pay
w11424 Daron Acemoglu
Simon Johnson
Todd Mitton

Determinants of Vertical Integration: Finance, Contracts, and Regulation
w11409 Nittai K. Bergman
Dirk Jenter

Employee Sentiment and Stock Option Compensation
w11391 Viral V. Acharya
Heitor Almeida
Murillo Campello

Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies
w11368 Heitor Almeida
Daniel Wolfenzon

A Theory of Pyramidal Ownership and Family Business Groups
w11364 Gary Gorton
Matthias Kahl
Richard Rosen

Eat or Be Eaten: A Theory of Mergers and Merger Waves
w11357 Joshua D. Coval
Erik Stafford

Asset Fire Sales (and Purchases) in Equity Markets
w11333 Charles W. Calomiris
Donna M. Hitscherich

Banker Fees and Acquisition Premia for Targets in Cash Tender Offers: Challenges to the Popular Wisdom on Banker Conflicts
w11294 Armando Gomes
Gordon Phillips

Why Do Public Firms Issue Private and Public Securities?
w11280 Mitchell A. Petersen
Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches
w11254 Olubunmi Faleye
Vikas Mehrotra
Randall Morck

When Labor Has a Voice in Corporate Governance
w11241 Mihir A. Desai
Dhammika Dharmapala

Corporate Tax Avoidance and Firm Value
w11229 Joseph Golec
Shantaram Hegde
John A. Vernon

Pharmaceutical Stock Price Reactions to Price Constraint Threats and Firm-Level R&D Spending
w11197 Woojin Kim
Michael Weisbach

Do Firms Go Public to Raise Capital?
w11190 Gary Gorton
Nicholas Souleles

Special Purpose Vehicles and Securitization
w11162 Craig Doidge
G. Andrew Karolyi
Karl V. Lins
Darius P. Miller
Rene M. Stulz

Private Benefits of Control, Ownership, and the Cross-Listing Decision
w11140 Mihir A. Desai
Robert J. Yetman

Constraining Managers without Owners: Governance of the Not-for-Profit Enterprise
w11126 Marianne Bertrand
Sendhil Mullainathan

Profitable Investments or Dissipated Cash? Evidence on the Investment-Cash Flow Relationship From Oil and Gas Lease Bidding
w11083 Andrew Atkeson
Harold Cole

A Dynamic Theory of Optimal Capital Structure and Executive Compensation
w11082 Bart Lambrecht
Stewart C. Myers

A Theory of Takeovers and Disinvestment
w11078 Simeon Djankov
Caralee McLiesh
Andrei Shleifer

Private Credit in 129 Countries
w11071 Patrick Bolton
Olivier Jeanne

Structuring and Restructuring Sovereign Debt: The Role of Seniority
w11070 Rene M. Stulz
The Limits of Financial Globalization
w11062 Randall K. Morck
Lloyd Steier

The Global History of Corporate Governance: An Introduction
w11050 Claudio Michelacci
Vincenzo Quadrini

Financial Markets and Wages
2004
w11011 David J. Brophy
Paige P. Ouimet
Clemens Sialm

PIPE Dreams? The Performance of Companies Issuing Equity Privately
w11006 Mark J. Garmaise
Tobias J. Moskowitz

Bank Mergers and Crime: The Real and Social Effects of Credit Market Competition
w11005 Luigi Guiso
Paola Sapienza
Luigi Zingales

Cultural Biases in Economic Exchange
w11004 Efraim Benmelech
Mark J. Garmaise
Tobias Moskowitz

Do Liquidation Values Affect Financial Contracts? Evidence from Commercial Loan Contracts and Zoning Regulation
w11002 Jeffrey R. Brown
Nellie Liang
Scott Weisbenner

Executive Financial Incentives and Payout Policy: Firm Responses to the 2003 Dividend Tax Cut
w10999 Philippe Aghion
Jeremy C. Stein

Growth vs. Margins: Destabilizing Consequences of Giving the Stock Market What it Wants
w10998 Malcolm Baker
Joshua Coval
Jeremy C. Stein

Corporate Financing Decisions When Investors Take the Path of Least Resistance
w10978 Mihir A. Desai
Alexander Dyck
Luigi Zingales

Theft and Taxes
w10944 Randall Morck
How to Eliminate Pyramidal Business Groups - The Double Taxation of Inter-Corporate Dividends and Other Incisive Uses of Tax Policy
w10933 Ilan Guedj
David Scharfstein

Organizational Scope and Investment: Evidence from the Drug Development Strategies and Performance of Biopharmaceutical Firms
w10908 Stephen G. Cecchetti
Stefan Krause

Deposit Insurance and External Finance
w10891 Peter M. DeMarzo
Ilan Kremer
Andrzej Skrzypacz

Bidding With Securities: Auctions and Security Design
w10872 Anusha Chari
Paige P. Ouimet
Linda L. Tesar

Acquiring Control in Emerging Markets: Evidence from the Stock Market
w10863 Malcolm Baker
Richard S. Ruback
Jeffrey Wurgler

Behavioral Corporate Finance: A Survey
w10841 Raj Chetty
Emmanuel Saez

Dividend Taxes and Corporate Behavior: Evidence from the 2003 Dividend Tax Cut
w10823 Malcolm P. Baker
Ryan Taliaferro
Jeffrey Wurgler

Pseudo Market Timing and Predictive Regressions
w10813 Ulrike Malmendier
Geoffrey Tate

Who Makes Acquisitions? CEO Overconfidence and the Market's Reaction
w10807 Ulrike Malmendier
Geoffrey Tate

CEO Overconfidence and Corporate Investment
w10773 Sara B. Moeller
Frederik P. Schlingemann
Rene M. Stulz

Do Acquirers With More Uncertain Growth Prospects Gain Less From Acquisitions?
w10771 Boyan Jovanovic
The Pre-Producers
w10743 Darrell Duffie
Ke Wang

Multi-Period Corporate Failure Prediction with Stochastic Covariates
w10742 Lucian Arye Bebchuk
Jesse M. Fried

Stealth Compensation Via Retirement Benefits
w10687 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Law and Firms' Access to Finance
w10671 Jennifer Dlugosz
Rudiger Fahlenbrach
Paul Gompers
Andrew Metrick

Large Blocks of Stock: Prevalence, Size, and Measurement
w10665 Patrick Bajari
John Krainer

An Empirical Model of Stock Analysts' Recommendations: Market Fundamentals, Conflicts of Interest, and Peer Effects
w10644 Randall Morck
Behavioral Finance in Corporate Governance - Independent Directors, Non-Executive Chairs, and the Importance of the Devil's Advocate
w10641 Peter Hogfeldt
The History and Politics of Corporate Ownership in Sweden
w10635 Randall Morck
Michael Percy
Gloria Tian
Bernard Yeung

The Rise and Fall of the Widely Held Firm - A History of Corporate Ownership in Canada
w10628 Julian Franks
Colin Mayer
Stefano Rossi

Spending Less Time with the Family: The Decline of Family Ownership in the UK
w10615 Peter M. DeMarzo
Yuliy Sannikov

A Continuous-Time Agency Model of Optimal Contracting and Capital Structure
w10613 Tarun Khann
Krishna Palepu

The Evolution of Concentrated Ownership in India Broad patterns and a History of the Indian Software Industry
w10599 Harry DeAngelo
Linda DeAngelo
Rene Stulz

Dividend Policy, Agency Costs, and Earned Equity
w10587 Lucian Bebchuk
Alma Cohen

The Costs of Entrenched Boards
w10572 Raj Chetty
Emmanuel Saez

Do Dividend Payments Respond to Taxes? Preliminary Evidence from the 2003 Dividend Tax Cut
w10563 Christopher Polk
Paola Sapienza

The Real Effects of Investor Sentiment
w10559 Malcolm Baker
C. Fritz Foley
Jeffrey Wurgler

The Stock Market and Investment: Evidence from FDI Flows
w10550 John R. Graham
Campbell R. Harvey
Shiva Rajgopal

The Economic Implications of Corporate Financial Reporting
w10537 Simon Gilchrist
Charles P. Himmelberg
Gur Huberman

Do Stock Price Bubbles Influence Corporate Investment?
w10536 Patricia M. Danzon
Andrew Epstein
Sean Nicholson

Mergers and Acquisitions in the Pharmaceutical and Biotech Industries
w10526 Ayla Kayhan
Sheridan Titman

Firms' Histories and Their Capital Structures
w10494 Raghuram Rajan
Julie Wulf

Are Perks Purely Managerial Excess?
w10471 Mihir A. Desai
Dhammika Dharmapala

Corporate Tax Avoidance and High Powered Incentives
w10380 Leora Klapper
Luc Laeven
Raghuram Rajan

Entry Regulation as a Barrier to Entrepreneurship
w10301 Jennifer L. Blouin
Jana Smith Raedy
Douglas A. Shackelford

Did Dividends Increase Immediately After the 2003 Reduction in Tax Rates?
w10298 Boyan Jovanovic
Peter L. Rousseau

Interest Rates and Initial Public Offerings
w10258 Kristian R. Miltersen
Eduardo S. Schwartz

R&D Investments with Competitive Interactions
w10240 Paul A. Gompers
Joy Ishii
Andrew Metrick

Incentives vs. Control: An Analysis of U.S. Dual-Class Companies
w10225 Brian J. Henderson
Narasimhan Jegadeesh
Michael S. Weisbach

World Markets for Raising New Capital
w10224 Evangelos Benos
Michael S. Weisbach

Private Benefits and Cross-Listings in the United States
w10200 Sara B. Moeller
Frederik P. Schlingemann
Rene M. Stulz

Wealth Destruction on a Massive Scale? A Study of Acquiring-Firm Returns in the Recent Merger Wave
2003
w10190 Lucian Arye Bebchuk
Why Firms Adopt Antitakeover Arrangements
w10188 Lee Pinkowitz
Rene M. Stulz
Rohan Williamson

Do Firms in Countries with Poor Protection of Investor Rights Hold More Cash?
w10184 Kenneth A. Froot
Risk Management, Capital Budgeting and Capital Structure Policy for Insurers and Reinsurers
w10165 Mihir Desai
Paul Gompers
Josh Lerner

Institutions, Capital Constraints and Entrepreneurial Firm Dynamics: Evidence from Europe
w10158 Gerard Caprio
Luc Laeven
Ross Levine

Governance and Bank Valuation
w10153 Mihir Desai
William M. Gentry

The Character and Determinants of Corporate Capital Gains
w10115 Gordon M. Bodnar
Bernard Dumas
Richard D. Marston

Cross-Border Valuation: The International Cost of Equity Capital
w10114 Eduardo S. Schwartz
Patents and R&D as Real Options
w10101 Andres Almazan
Javier Suarez
Sheridan Titman

Stakeholder, Transparency and Capital Structure
w10097 Steven N. Kaplan
Frederic Martel
Per Stromberg

How Do Legal Differences and Learning Affect Financial Contracts?
w10041 Jason C. Hsu
Eduardo S. Schwartz

A Model of R&D Valuation and the Design of Research Incentives
w9995 Malcolm Baker
Jeffrey Wurgler

Appearing and Disappearing Dividends: The Link to Catering Incentives
w9951 Sheridan Titman
K.C. John Wei
Feixue Xie

Capital Investments and Stock Returns
w9949 Eric Friedman
Simon Johnson
Todd Mitton

Propping and Tunneling
w9930 Michael Faulkender
Mitchell A. Petersen

Does the Source of Capital Affect Capital Structure?
w9813 Lucian Arye Bebchuk
Jesse M. Fried

Executive Compensation as an Agency Problem
w9763 Walter Novaes
Luigi Zingales

Bureaucracy as a Mechanism to Generate Information
w9758 James Dow
Gary Gorton
Arvind Krishnamurthy

Equilibrium Asset Prices Under Imperfect Corporate Control
w9722 Patrick Bolton
Jose Scheinkman
Wei Xiong

Executive Compensation and Short-termist Behavior in Speculative Markets
w9715 Mihir A. Desai
C. Fritz Foley
James R. Hines
Jr.

A Multinational Perspective on Capital Structure Choice and Internal Capital Markets
w9657 Alon Brav
John R. Graham
Campbell R. Harvey
Roni Michaely

Payout Policy in the 21st Century
w9651 Randall Morck
Why Some Double Taxation Might Make Sense: The Special Case of Inter-corporate Dividends
w9644 Patrick McGuire
Bank Ties and Bond Market Access: Evidence on Investment-Cash Flow Sensitivity in Japan
w9620 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Bank Supervision and Corporate Finance
w9613 Bengt Holmstrom
Steven N. Kaplan

The State of U.S. Corporate Governance: What's Right and What's Wrong?
w9575 Youngjae Lim
Sources of Corporate Financing and Economic Crisis in Korea: A Micro-evidence
w9574 Chen-Chien Hsun
Shih Hui-Tzu

Initial Public Offering and Corporate Governance in China's Transitional Economy
w9542 Malcolm Baker
Jeffrey Wurgler

A Catering Theory of Dividends
w9527 Bruce Blonigen
Rossitza B. Wooster

CEO Turnover and Foreign Market Participation
w9523 Sara B. Moeller
Frederik P. Schlingemann
Rene M. Stulz

Do shareholders of acquiring firms gain from acquisitions?
w9469 William N. Goetzmann
Matthew Spiegel
Andrey Ukhov

Modeling and Measuring Russian Corporate Governance: The Case of Russian Preferred and Common Shares
w9432 Gayane Hovakimian
Sheridan Titman

Corporate Investment with Financial Constraints: Sensitivity of Investment to Funds from Voluntary Asset Sales
2002
w9386 Yishay Yafeh
An International Perspective of Japan's Corporate Groups and their Prospects
w9385 Takero Doi
Takeo Hoshi

Paying for the FILP
w9380 Lucian Bebchuk
Alma Cohen
Allen Ferrell

Does the Evidence Favor State Competition in Corporate Law?
w9371 Patrick Bolton
Marco Becht
Alisa Röell

Corporate Governance and Control
w9327 Nengjiu Ju
Robert Parrino
Allen M. Poteshman
Michael S. Weisbach

Horses and Rabbits? Optimal Dynamic Capital Structure from Shareholder and Manager Perspectives
w9323 James R. Barth
Gerard Caprio
Jr.
Ross Levine

Bank Regulation and Supervision: What Works Best?
w9309 Alexander Dyck
Luigi Zingales

The Corporate Governance Role of the Media
w9253 Heitor Almeida
Murillo Campello
Michael S. Weisbach

Corporate Demand for Liquidity
w9250 Olivia S. Mitchell
Stephen P. Utkus

The Role of Company Stock in Defined Contribution Plans
w9214 Patric H. Hendershott
Charles W.R. Ward

Valuing and Pricing Retail Leases with Renewal and Overage Options
w9156 Oren Bar-Gill
Michal Barzuza
Lucian Bebchuk

The Market for Corporate Law
w9146 Josh Lerner
Antoinetter Schoar

The Illiquidity Puzzle: Theory and Evidence from Private Equity
w9126 Roberta Romano
Does Confidential Proxy Voting Matter?
w9107 Lucian Bebchuk
Alma Cohen

Firms' Decisions Where to Incorporate
w9078 Lucian Arye Bebchuk
The Case Against Board Veto in Corporate Takeovers
w9070 Reena Aggarwal
Nagpurnanand R. Prabhala
Manju Puri

Institutional Allocation In Initial Public Offerings: Empirical Evidence
w9068 Lucian Arye Bebchuk
Jesse M. Fried
David I. Walker

Managerial Power and Rent Extraction in the Design of Executive Compensation
w9059 Brian J. Hall
Thomas A. Knox

Managing Option Fragility
w9049 Owen A. Lamont
Evaluating Value Weighting: Corporate Events and Market Timing
w9032 Peter MacKay
Gordon M. Phillips

Is There an Optimal Industry Financial Structure?
w9009 Boyan Jovanovic
Serguey Braguinsky

Bidder Discounts and Target Premia in Takeovers
w9001 Denis Gromb
David Scharfstein

Entrepreneurship in Equilibrium
w8989 Henry Hansmann
Daniel Kessler
Mark McClellan

Ownership Form and Trapped Capital in the Hospital Industry
w8974 Lucian Arye Bebchuk
John C. Coates IV
Guhan Subramanian

The Powerful Antitakeover Force of Staggered Boards: Theory, Evidence and Policy
w8954 Michael R. Darby
Lynne G. Zucker

Going Public When You Can in Biotechnology
w8921 Edward L. Glaeser
The Governance of Not-For-Profit Firms
w8877 Mark J. Garmaise
Tobias J. Moskowitz

Confronting Information Asymmetries: Evidence from Real Estate Markets
w8874 Mark J. Garmaise
Tobias J. Moskowitz

Informal Financial Networks: Theory and Evidence
w8866 Mihir A. Desai
The Corporate Profit Base, Tax Sheltering Activity, and the Changing Nature of Employee Compensation
w8848 Rafael La Porta
Florencio Lopez-de-Silane
Guillermo Zamarripa

Related Lending
w8776 Mike Burkart
Fausto Panunzi
Andrei Shleifer

Family Firms
w8773 Bronwyn H. Hall
The Financing of Research and Development
w8764 Steven N. Kaplan
Per Stromberg

Characteristics, Contracts, and Actions: Evidence from Venture Capitalist Analyses
w8763 Robert Parrino
Allen M. Poteshman
Michael S. Weisbach

Measuring Investment Distortions when Risk-Averse Managers Decide Whether to Undertake Risky Projects
w8750 Malcolm Baker
Jeremy C. Stein
Jeffrey Wurgler

When Does the Market Matter? Stock Prices and the Investment of Equity-Dependent Firms
w8719 Ravi Jagannathan
Iwan Meier

Do We Need CAPM for Capital Budgeting?
w8711 Alexander Dyck
Luigi Zingales

Private Benefits of Control: An International Comparison
w8703 Lucian Arye Bebchuk
Assaf Hamdani

Optimal Defaults for Corporate Law Evolution
w8698 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Dividend Policy inside the Firm
2001
w8694 Randall S. Kroszner
Philip E. Strahan

Throwing Good Money After Bad? Board Connections and Conflicts in Bank Lending
w8678 John R. Graham
Campbell R. Harvey

Expectations of Equity Risk Premia, Volatility and Asymmetry from a Corporate Finance Perspective
w8661 Lucian Arye Bebchuk
Jesse M. Fried
David I. Walker

Executive Compensation in America: Optimal Contracting or Extraction of Rents?
w8652 Arturo Bris
Ivo Welch

The Optimal Concentration of Creditors
w8633 Lucian Bebchuk
Oliver Hart

Takeover bids vs. Proxy Fights in Contests for Corporate Control
w8586 Michelle Lowry
G. William Schwert

Biases in the IPO Pricing Process
w8538 Craig Doidge
G. Andrew Karolyi
Rene M. Stulz

Why are Foreign Firms Listed in the U.S. Worth More?
w8507 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Repatriation Taxes and Dividend Distortions
w8486 William M. Gentry
Deen Kemsley
Christopher J. Mayer

Dividend Taxes and Share Prices: Evidence from Real Estate Investment Trusts
w8452 Campbell R. Harvey
Karl V. Lins
Andrew H. Roper

The Effect of Capital Structure When Expected Agency Costs are Extreme
w8449 Paul A. Gompers
Joy L. Ishii
Andrew Metrick

Corporate Governance and Equity Prices
w8439 Andrei Shleifer
Robert W. Vishny

Stock Market Driven Acquisitions
w8438 Ann E. Harrison
Margaret S. McMillan

Does Direct Foreign Investment Affect Domestic Firms' Credit Constraints?
w8399 Edward J. Kane
Using Deferred Compensation to Strengthen the Ethicsof Financial Regulation
w8388 Lucian Arye Bebchuk
Ex Ante Costs of Violating Absolute Priority in Bankruptcy
w8367 Luis Garicano
Tano Santos

Referrals
w8286 Oliver Hart
Norms and the Theory of the Firm
w8285 Oliver Hart
Financial Contracting
w8276 Lucian Arye Bebchuk
Jesse M. Fried

A New Approach to Valuing Secured Claims in Bankruptcy
w8222 Rene M. Stulz
Rohan Williamson

Culture, Openness, and Finance
w8220 Bengt Holmstrom
Steven N. Kaplan

Corporate Governance and Merger Activity in the U.S.: Making Sense of the 1980s and 1990s
w8203 Alan J. Auerbach
Taxation and Corporate Financial Policy
w8202 Steven N. Kaplan
Per Stromberg

Venture Capitalists As Principals: Contracting, Screening, and Monitoring
w8201 Leslie Eldenburg
Benjamin E. Hermalin
Michael S. Weisbach
Marta Wosinska

Hospital Governance, Performance Objectives, and Organizational Form
w8178 Raghuram G. Rajan
Luigi Zingales

The Great Reversals: The Politics of Financial Development in the 20th Century
w8177 Raghuram G. Rajan
Luigi Zingales

The Influence of the Financial Revolution on the Nature of Firms
w8164 William A. Reese
Jr.
Michael S. Weisbach

Protection of Minority Shareholder Interests, Cross-listings in the United States, and Subsequent Equity Offerings
w8161 Benjamin E. Hermalin
Michael S. Weisbach

Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature
w8148 Lucian Arye Bebchuk
Allen Ferrell

A New Approach to Takeover Law and Regulatory Competition
w8093 Artyom Durnev
Randall Morck
Bernard Yeung

Does Firm-specific Information in Stock Prices Guide Capital Allocation?
w8089 Lucian Arye Bebchuk
David I. Walker

The Overlooked Corporate Finance Problems of a Microsoft Breakup
2000
w7974 Andrei Shleifer
Daniel Wolfenson

Investor Protection and Equity Markets
w7958 Raghuram G. Rajan
Luigi Zingales

The Governance of the New Enterprise
w7952 Marianne Bertrand
Paras Mehta
Sendhil Mullainathan

Ferreting Out Tunneling: An Application to Indian Business Groups
w7945 Gary Gorton
Frank Schmid

Class Struggle Inside the Firm: A Study of German Codetermination
w7935 Michelle Lowry
G. William Schwert

IPO Market Cycles: Bubbles or Sequential Learning?
w7921 Oliver Hart
Different Approaches to Bankruptcy
w7873 Frederik P. Schlingemann
Rene M. Stulz
Ralph A. Walkling

Asset Liquidity and Segment Divestitures
w7842 Nancy L. Rose
Catherine Wolfram

Regulating Executive Pay: Using the Tax Code to Influence CEO Compensation
w7821 Alan J. Auerbach
Kevin A. Hassett

On the Marginal Source of Investment Funds
w7808 Hyun-Han Shin
Rene M. Stulz

Firm Value, Risk, and Growth Opportunities
w7803 Owen Lamont
Christopher Polk

Does Diversification Destroy Value? Evidence From Industry Shocks
w7794 John DiNardo
Kevin F. Hallock

When Unions "Mattered": Assessing the Impact of Strikes on Financial Markets: 1925-1937
w7232 Lucian Arye Bebchuk
Allen Ferrell

Federalism and Takeover Law: The Race to Protect Managers from Takeovers
w7720 Ricardo J. Caballero
Mohamad L. Hammour

Institutions, Restructuring, and Macroeconomic Performance
w7706 Luigi Zingales
In Search of New Foundations
w7705 Jeremy C. Stein
Information Production and Capital Allocation: Decentralized vs. Hierarchical Firms
w7660 Steven N. Kaplan
Per Stromberg

Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts
w6919 Lucian Arye Bebchuk
Christine Jolls

Managerial Value Diversion and Shareholder Wealth
w7614 Lucian Arye Bebchuk
Using Options to Divide Value in Corporate Bankruptcy
w7604 Marianne Bertrand
Sendhil Mullainathan

Do CEOs Set Their Own Pay? The Ones Without Principals Do
w7596 Brian J. Hall
Jeffrey B. Liebman

The Taxation of Executive Compensation
w7587 Eitan Goldman
Gary Gorton

The Visible Hand, the Invisible Hand and Efficiency
w6521 Lucian Arye Bebchuk
Andrew T. Guzman

An Economic Analysis of Transnational Bankruptcies
w7523 Simon Johnson
Rafael La Porta
Florencio Lopez-de-Silanes
Andrei Shleifer

Tunnelling
w7209 Charles P. Himmelberg
R. Glenn Hubbard
Darius Palia

Understanding the Determinants of Managerial Ownership and the Link Between Ownership and Performance
1999
w7403 Rafael La Porta
Florencio Lopez-de-Silanes
Andrei Shleifer
Robert W. Vishny

Investor Protection and Corporate Valuation
w7396 Owen Lamont
Christopher Polk

The Diversification Discount: Cash Flows vs. Returns
w7335 Rajesh K. Aggarwal
Andrew A. Samwick

Empire-Builders and Shirkers: Investment, Firm Performance, and Managerial Incentives
w7334 Rajesh K. Aggarwal
Andrew A. Samwick

Performance Incentives Within Firms: The Effect of Managerial Responsibility
w7325 David Ikenberry
Josef Lakonishok
Theo Vermaelen

Stock Repurchases in Canada: Performance and Strategic Trading
w7208 Krishna B. Kumar
Raghuram G. Rajan
Luigi Zingales

What Determines Firm Size?
w7203 Lucian Arye Bebchuk
A Rent-Protection Theory of Corporate Ownership and Control
w7151 Stephen G. Cecchetti
Legal Structure, Financial Structure, and the Monetary Policy Transmission Mechanism
w7124 John M. Abowd
David S. Kaplan

Executive Compensation: Six Questions that Need Answering
w7123 Gary Gorton
Matthias Kahl

Blockholder Identity, Equity Ownership Structures, and Hostile Takeovers
w7085 G. William Schwert
Hostility in Takeovers: In the Eyes of the Beholder?
w6951 Lucian Bebchuk
Reinier Kraakman
George Triantis

Stock Pyramids, Cross-Ownership, and the Dual Class Equity: The Creation and Agency Costs of Seperating Control from Cash Flow Rights
w6947 Tor Jakob Klette
Jarle Møen
Zvi Griliches

Do Subsidies to Commercial R&D Reduce Market Failures? Microeconomic Evaluation Studies
w6938 Lucian Arye Bebchuk
Marcel Kahan

The 'Lemons Effect' in Corporate Freeze-Outs
w6882 Iain Cockburn
Rebecca Henderson
Scott Stern

Balancing Incentives: The Tension Between Basic and Applied Research
1998
w6823 Edward J. Kane
Kimberly DeTrask

Covering Up Trading Losses: Opportunity-Cost Accounting as an Internal Control Mechanism
w6745 Jonathan B. Berk
Richard C. Green
Vasant Naik

Valuation and Return Dynamics of New Ventures
w6678 Jonathan B. Berk
A Simple Approach for Deciding When to Invest
w6649 Charles W. Calormiris
Berry Wilson

Bank Capital and Portfolio Management: The 1930's Capital Crunch and Scramble to Shed Risk
w6634 Rajesh Aggarwal
Andrew A. Samwick

The Other Side of the Tradeoff: The Impact of Risk on Executive Compensation
w6625 Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer

Corporate Ownership Around the World
w6615 James R. Hines Jr.
Investment Ramifications of Distortionary Tax Subsidies
w6561 Stewart C. Myers
Outside Equity Financing
w6550 Clifford G. Holderness
Randall S. Kroszner
Dennis P. Sheehan

Were the Good Old Days That Good? Changes in Managerial Stock Ownership Since the Great Depression
w6539 R. Glenn Hubbard
Darius Palia

A Re-Examination of the Conglomerate Merger Wave in the 1960s: An Internal Capital Markets View
w6490 Lubos Pastor
Robert F. Stambaugh

Costs of Equity Capital and Model Mispricing
w6472 Lucian Arye Bebchuk
Jesse Fried

The Uneasy Case for the Priority of Secured Claims in Bankruptcy: Further Thoughts and a Reply to Critics
w6467 Christine Jolls
Stock Repurchases and Incentive Compensation
w6421 Oliver Hart
John Moore

Cooperatives vs. Outside Ownership
w6368 Raghuram Rajan
Henri Servaes
Luigi Zingales

The Cost of Diversity: The Diversification Discount and Inefficient Investment
w6352 David S. Scharfstein
The Dark Side of Internal Capital Markets II: Evidence from Diversified Conglomerates
1997
w6309 Luigi Zingales
Corporate Governance
w6278 Oliver Hart
Rafael La Porta Drago
Florencio Lopez-de-Silane
John Moore

A New Bankruptcy Procedure that Uses Multiple Auctions
w6224 Gordon M. Bodnar
Charles Tang
Joseph Weintrop

Both Sides of Corporate Diversification: The Value Impacts of Geographic and Industrial Diversification
w6210 Owen Lamont
Christopher Polk
Jesus Saa-Requejo

Financial Constraints and Stock Returns
w6172 Fumio Hayashi
The Main Bank System and Corporate Investment: An Empirical Reassessment
w6068 Assem Safieddine
Sheridan Titman

Debt and Corporate Performance: Evidence from Unsuccessful Takeovers
w5996 R. Glenn Hubbard
Capital-Market Imperfections and Investment
w5961 Owen Lamont
Jeremy C. Stein

Leverage and House-Price Dynamics in U.S. Cities
w5907 Oliver Hart
John Moore

Default and Renegotiation: A Dynamic Model of Debt
w5902 David F. Bradford
Kyle D. Logue

The Influence of Income Tax Rules on Insurance Reserves
1996
w5779 Gary Gorton
Bruce D. Grundy

Executive Compensation and the Optimality of Managerial Entrenchment
w5682 B. Douglas Bernheim
Lee Redding

Optimal Money Burning: Theory and Application to Corporate Dividend Policy
w5648 Rajesh Aggarwal
Andrew A. Samwick

Executive Compensation, Strategic Competition, and Relative Performance Evaluation: Theory and Evidence
w5602 Mitchell A. Petersen
Raghuram G. Rajan

Trade Credit: Theories and Evidence
w5499 Owen Lamont
Cash Flow and Investment: Evidence from Internal Capital Markets
w5498 Sudipto Dasgupta
Sheridan Titman

Pricing Strategy and Financial Policy
w5462 Steven M. Fazzari
R. Glenn Hubbard
Bruce C. Petersen

Financing Constraints and Corporate Investment: Response to Kaplan and Zingales
1995
w5233 James Dow
Gary Gorton

Stock Market Efficiency and Economic Efficiency: Is There a Connection?
w5143 Stewart C. Myers
Raghuram G. Rajan

The Paradox of Liquidity
w5079 R. Glenn Hubbard
Darius Palia

Benefits of Control, Managerial Ownership, and the Stock Returns of Acquiring Firms
1994
w4976 Paul L. Joskow
Nancy L. Rose

CEO Pay and Firm Performance: Dynamics, Asymmetries, and Alternative Performance Measures
w4875 Raghuram G. Rajan
Luigi Zingales

What Do We Know About Capital Structure? Some Evidence from International Data
hans94-1 Hans-Werner Sinn
editor

Trans-Atlantic Public Economics Seminar 1992
w4723 Nancy L. Rose
Andrea Shepard

Firm Diversification and CEO Compensation: Managerial Ability or Executive Entrenchment?
w4722 Lakshmi Shyam-Sunder
Stewart C. Myers

Testing Static Trade-off Against Pecking Order Models of Capital Structure
w4704 R. Glenn Hubbard
Darius Palia

Executive Pay and Performance: Evidence from the U.S. Banking Industry
1993
w4421 Takeo Hoshi
Anil Kashyap
David Scharfstein

The Choice Between Public and Private Debt: An Analysis of Post-Deregulation Corporate Financing in Japan
w4392 R. Glenn Hubbard
Anil K. Kashyap
Toni M. Whited

Internal Finance and Firm Investment
w4316 Robert Comment
G. William Schwert

Poison or Placebo? Evidence on the Deterrent and Wealth Effects of Modern Antitakeover Measures
w4309 Jeffrey I. Bernstein
M. Ishaq Nadiri

Production, Financial Structure and Productivity Growth in U.S. Manufacturing
w4288 Charles W. Calomiris
R. Glenn Hubbard

Internal Finance and Investment: Evidence from the Undistributed Profits Tax of 1936-1937
1992
w4244 B. Douglas Bernheim
Adam Wantz

A Tax-Based Test of the Dividend Signaling Hypothesis
w4175 Robert S. Pindyck
Investments of Uncertain Cost
w4101 David Neumark
Steven A. Sharpe

Hostile Takeovers and Expropriation of Extramarginal Wages: A Test
w4096 Bronwyn H. Hall
Investment and Research and Development at the Firm Level: Does the Source of Financing Matter?
w4092 Frank R. Lichtenberg
George M. Pushner

Ownership Structure and Corporate Performance in Japan
w4084 Kenneth A. Froot
David S. Scharfstein
Jeremy C. Stein

Risk Management: Coordinating Corporate Investment and Financing Policies
1991
w3942 Paul Asquith
Robert Gertner
David Scharfstein

Anatomy of Financial Distress: An Examination of Junk-Bond Issuers
w3906 Oliver Hart
John Moore

A Theory of Debt Based on the Inalienability of Human Capital
w3873 Bruce N. Lehmann
Asset Pricing and Intrinsic Values: A Review Essay
w3798 Francois Degeorge
Richard Zeckhauser

Information Handling and Firm Performance: Evidence from Reverse LBOs
w3794 Bronwyn H. Hall
Corporate Restructuring and Investment Horizons
w3781 Jeffrey K. MacKie-Mason
Roger H. Gordon

How Much Do Taxes Discourage Incorporation.
w3730 James R. Hines Jr.
Dividends and Profits: Some Unsubtle Foreign Influences
1986
w1941 Lawrence H. Summers
Investment Incentives and the Discounting of Depreciation Allowances
1967
ture67-1 Norman B. Ture
Accelerated Depreciation in the United States, 1954-60
1960
hick60-1 W. Braddock Hickman assisted by Elizabeth T. Simpson
Statistical Measures of Corporate Bond Financing since 1900
1958
holl58-1 Daniel M. Holland
The Income Tax Burden on Stockholders
hick58-1 W. Braddock Hickman
Corporate Bond Quality and Investor Experience
1953
hick53-1 W. Braddock Hickman
The Volume of Corporate Bond Financing Since 1900
1952
hick52-1 W. Braddock Hickman
Trends and Cycles in Corporate Bond Financing
1950
hult50-1 Thor Hultgren
Cyclical Diversities in the Fortunes of Industrial Corporations

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