Is Regulatory Competition a Problem or Irrelevant for Corporate Governance?
This article provides an analysis of why regulatory competition in corporate law has operated, for the most part, successfully in the United States, and...
Read moreThis article provides an analysis of why regulatory competition in corporate law has operated, for the most part, successfully in the United States, and...
Read moreSeparation between CEO and Chairman of the Board is typically viewed as evidence of good corporate governance. Surprisingly, the literature has failed...
Read moreWe analyze how industry-wide risks are shared between firms' employees and their owners. Focusing on the electricity industry, we study firms which are...
Read moreWe examine the effects of overlapping ownership in a Cournot oligopoly where existing firms with overlapping ownership decide whether to enter a new...
Read moreFormal finance involves costly information acquisition about distant entrepreneurs, while relationship-based finance allows financiers to fund a...
Read moreDo strong incentives to cut costs lead firms to neglect negative externalities? We find that costcutting incentives can be environmentally friendly....
Read moreWe study anti-competitive mergers in a dynamic model with noisy collusion. At each instant, firms either privately choose output levels or merge, which...
Read moreWe show that the main claim in Dennis, Gerardi, and Schenone (JF forthcoming) (DGS), namely "that the documented positive correlation between common...
Read moreWe model a competitive industry where managers choose quantities and costs to maximize a combination of firm profits and benefits from expropriation....
Read moreThis paper examines the hypothesis that firms in competitive industries should benefit relatively less from good governance, while firms in...
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