This article provides an analysis of why regulatory competition in corporate law has operated, for the most part, successfully in the United States, and...
Separation between CEO and Chairman of the Board is typically viewed as evidence of good corporate governance. Surprisingly, the literature has failed...
We analyze how industry-wide risks are shared between firms' employees and their owners. Focusing on the electricity industry, we study firms which are...
Do strong incentives to cut costs lead firms to neglect negative externalities? We find that costcutting incentives can be environmentally friendly....
We study anti-competitive mergers in a dynamic model with noisy collusion. At each instant, firms either privately choose output levels or merge, which...
We show that the main claim in Dennis, Gerardi, and Schenone (JF forthcoming) (DGS), namely "that the documented positive correlation between common...
We model a competitive industry where managers choose quantities and costs to maximize a combination of firm profits and benefits from expropriation....