We show that the availability of finance affects firms not only through financial markets, but also through the labor market. In our model, talented...
Using a novel text-based measure of top management team diversity, covering over 70,000 top executives in over 6,500 U.S. firms from 1999 to 2014, we show...
This paper critiques an assessment by Bebchuk and Tallarita (BT) of the relative merits of shareholder and stakeholder governance. BT’s paper argues...
Should boards of financial firms be blamed for the financial crisis' Using a large sample of data on nonfinancial and financial firms for the period...
We present a mechanism based on managerial incentives through which common ownership affects product market outcomes. Firm-level variation in common...
We are witnessing a quiet but quick transformation of corporate governance. The rise of digital technologies and social media are forcing companies to...