Firm-Specific Information and the Efficiency of Investment

Anusha Chari, Peter Blair Henry

NBER Working Paper No. 12186
Issued in May 2006

---- Acknowledgements -----

Chari: University of Michigan Business School; 701 Tappan Street, Ann Arbor, MI 48109-1234; achari@umich.edu. Henry: Stanford University, Graduate School of Business; Stanford, CA 94305-5015; pbhenry@stanford.edu. Henry gratefully acknowledges the financial support of a National Science Foundation CAREER award and the John and Cynthia Fry Gunn Faculty Fellowship. We thank Jack Glen for providing us with data. For helpful comments we thank Rui Albuquerque, Steve Buser, Menzie Chinn, Laura Kodres, Richard Roll, Paul Romer, Jeffrey Wurgler, and seminar participants at the AEA Annual Meetings, Claremont, Federal Reserve Bank of Dallas Conference on Globalization, LACEA-Madrid, Maryland, Michigan, MIT, NBER, Stanford, Wharton, The IMF Annual Research Conference, UCLA, WFA, and the World Bank. Any remaining errors are our own. The views expressed in this paper are solely ours and do not represent the views of the National Science Foundation.

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