We show that, in the presence of correlated investment opportunities across firms, risk sharing between firm shareholders and firm managers leads to...
When firms compete in the managerial labor market, the choice of corporate governance by a firm affects, and is affected by, the choice of governance by...
We investigate the impact on firms of joining the S&P 500 index from 1997 to 2017. We find that the positive announcement effect on the stock price of...