Working Paper

01 August 2016

Price and Probability: Decomposing the Takeover Effects of Anti-Takeover Provisions

This paper studies the effects of anti-takeover provisions on takeovers and identifies the channels through which they create or destroy value for firms, as well as for the economy as a whole. We provide causal estimates – that also...

Vicente Cuñat | Mireia Giné | MARIA GUADALUPE
01 June 2013

Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence

This paper presents an industry equilibrium model where firms have a choice to engage in corporate social responsibility (CSR) activities. We model CSR as an investment to increase product differentiation that allows firms to benefit...

Rui Albuquerque | Chendi Zhang | Yrjö Koskinen