NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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NBER Papers on Corporate Finance

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2018
w24887 Ramana Nanda
Sampsa Samila
Olav Sorenson

The Persistent Effect of Initial Success: Evidence from Venture Capital
w24866 Gary Gorton
Toomas Laarits
Andrew Metrick

The Run on Repo and the Fed's Response
w24844 Neil Bhutta
Benjamin J. Keys

Eyes Wide Shut? The Moral Hazard of Mortgage Insurers during the Housing Boom
w24792 Eric Hilt
Banks, Insider Connections, and Industrialization in New England: Evidence from the Panic of 1873
w24797 Stefano DellaVigna
Structural Behavioral Economics
w24823 Atif Mian
Amir Sufi

Credit Supply and Housing Speculation
w24774 Sabrina T. Howell
Marina Niessner
David Yermack

Initial Coin Offerings: Financing Growth with Cryptocurrency Token Sales
w24776 Mari Tanaka
Nicholas Bloom
Joel M. David
Maiko Koga

Firm Performance and Macro Forecast Accuracy
w24778 Richard T. Thakor
Robert C. Merton

Trust in Lending
w24781 Erik Snowberg
Leeat Yariv

Testing the Waters: Behavior across Participant Pools
w24760 Nicholas Bloom
Hong Cheng
Mark Duggan
Hongbin Li
Franklin Qian

Do CEOs Know Best? Evidence from China
w24737 Patrick Bolton
Martin Oehmke

Bank Resolution and the Structure of Global Banks
w24751 Timothy Jackson
Laurence J. Kotlikoff

Banks as Potentially Crooked Secret-Keepers
w24757 Vadim Elenev
Tim Landvoigt
Stijn Van Nieuwerburgh

A Macroeconomic Model with Financially Constrained Producers and Intermediaries
w24709 Kewei Hou
Haitao Mo
Chen Xue
Lu Zhang

q5
w24717 Eric Budish
The Economic Limits of Bitcoin and the Blockchain
w24718 Nicholas Bloom
Kalina Manova
John Van Reenen
Stephen Teng Sun
Zhihong Yu

Managing Trade: Evidence from China and the US
w24720 Sharon Belenzon
Honggi Lee
Andrea Patacconi

Towards a Legal Theory of the Firm: The Effects of Enterprise Liability on Asset Partitioning, Decentralization and Corporate Group Growth
w24679 Abhijit Banerjee
Emily Breza
Arun G. Chandrasekhar
Benjamin Golub

When Less is More: Experimental Evidence on Information Delivery During India's Demonetization
w24699 Bronson Argyle
Taylor D. Nadauld
Christopher Palmer
Ryan D. Pratt

The Capitalization of Consumer Financing into Durable Goods Prices
w24701 Thomas R. Tørsløv
Ludvig S. Wier
Gabriel Zucman

The Missing Profits of Nations
w24672 Briana Chang
Harrison Hong

Selection versus Talent Effects on Firm Value
w24673 Matteo Maggiori
Brent Neiman
Jesse Schreger

International Currencies and Capital Allocation
w24657 Lin William Cong
Sabrina T. Howell

Listing Delays and Innovation: Evidence from Chinese IPOs
w24622 Brian Lucking
Nicholas Bloom
John Van Reenen

Have R&D Spillovers Changed?
w24582 Itamar Drechsler
Alexi Savov
Philipp Schnabl

Banking on Deposits: Maturity Transformation without Interest Rate Risk
w24586 Christopher Hansman
Harrison Hong
Wenxi Jiang
Yu-Jane Liu
Juan-Juan Meng

Riding the Credit Boom
w24589 Christopher Martin
Manju Puri
Alexander Ufier

Deposit Inflows and Outflows in Failing Banks: The Role of Deposit Insurance
w24595 Joshua L. Krieger
Danielle Li
Dimitris Papanikolaou

Developing Novel Drugs
w24571 Iván Alfaro
Nicholas Bloom
Xiaoji Lin

The Finance Uncertainty Multiplier
w24549 Mathias Drehmann
Mikael Juselius
Anton Korinek

Going With the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms
w24550 Juliane Begenau
Maryam Farboodi
Laura Veldkamp

Big Data in Finance and the Growth of Large Firms
w24551 Tobias Berg
Valentin Burg
Ana Gombović
Manju Puri

On the Rise of FinTechs - Credit Scoring using Digital Footprints
w24523 Michael Ewens
Ramana Nanda
Matthew Rhodes-Kropf

Cost of Experimentation and the Evolution of Venture Capital
w24526 Carlos J. Serrano
Rosemarie Ziedonis

How Redeployable are Patent Assets? Evidence from Failed Startups
w24535 Christian Leuz
Evidence-Based Policymaking: Promise, Challenges and Opportunities for Accounting and Financial Markets Research
w24542 Lauren H. Cohen
Umit G. Gurun

Buying the Verdict
w24500 Andreas Fuster
Matthew Plosser
Philipp Schnabl
James Vickery

The Role of Technology in Mortgage Lending
w24513 Yi Huang
Ugo Panizza
Richard Portes

Corporate Foreign Bond Issuance and Interfirm Loans in China
w24516 Jonathan Cohn
Tatyana Deryugina

Firm-Level Financial Resources and Environmental Spills
w24517 Ramana Nanda
Matthew Rhodes-Kropf

Coordination Frictions in Venture Capital Syndicates
w24485 Gita Gopinath
Jeremy C. Stein

Banking, Trade, and the making of a Dominant Currency
w24451 Marianne Bertrand
Matilde Bombardini
Raymond Fisman
Francesco Trebbi

Tax-Exempt Lobbying: Corporate Philanthropy as a Tool for Political Influence
w24459 Alexis Antoniades
Charles W. Calomiris

Mortgage Market Credit Conditions and U.S. Presidential Elections
w24460 Charles W. Calomiris
Mark Carlson

Bank Examiners' Information and Expertise and Their Role in Monitoring and Disciplining Banks Before and During the Panic of 1893
w24443 Viral V. Acharya
Arvind Krishnamurthy

Capital Flow Management with Multiple Instruments
w24431 Charles W. Calomiris
Elliot S.M. Oh

Who Owned Citibank? Familiarity Bias and Business Network Influences on Stock Purchases, 1925-1929
w24433 Charles W. Calomiris
Mauricio Larrain
Sergio L. Schmukler

Capital Inflows, Equity Issuance Activity, and Corporate Investment
w24435 Isil Erel
Léa H. Stern
Chenhao Tan
Michael S. Weisbach

Selecting Directors Using Machine Learning
w24446 Adam M. Guren
Arvind Krishnamurthy
Timothy J. McQuade

Mortgage Design in an Equilibrium Model of the Housing Market
w24408 Paul Goldsmith-Pinkham
Isaac Sorkin
Henry Swift

Bartik Instruments: What, When, Why, and How
w24409 Shinichi Kamiya
Jun-Koo Kang
Jungmin Kim
Andreas Milidonis
René M. Stulz

What is the Impact of Successful Cyberattacks on Target Firms?
w24415 Zhiguo He
Arvind Krishnamurthy

Intermediary Asset Pricing and the Financial Crisis
w24382 Eric Zwick
The Costs of Corporate Tax Complexity
w24389 Ross Levine
Chen Lin
Zigan Wang

Toxic Emissions and Executive Migration
w24399 Lin William Cong
Zhiguo He

Blockchain Disruption and Smart Contracts
w24365 Kristle Cortés
Yuliya Demyanyk
Lei Li
Elena Loutskina
Philip E. Strahan

Stress Tests and Small Business Lending
w24370 Bronwyn H. Hall
Is There a Role for Patents in the Financing of New Innovative Firms?
w24375 Ross Levine
Chen Lin
Zigan Wang
Wensi Xie

Bank Liquidity, Credit Supply, and the Environment
w24360 Mitchell Hoffman
Steven Tadelis

People Management Skills, Employee Attrition, and Manager Rewards: An Empirical Analysis
w24322 Atif R. Mian
Amir Sufi

Finance and Business Cycles: The Credit-Driven Household Demand Channel
w24329 Emily Breza
Cynthia Kinnan

Measuring the Equilibrium Impacts of Credit: Evidence from the Indian Microfinance Crisis
w24343 Alan Benson
Danielle Li
Kelly Shue

Promotions and the Peter Principle
w24298 Gary B. Gorton
Toomas Laarits

Collateral Damage
w24307 Efraim Benmelech
Nittai Bergman
Hyunseob Kim

Strong Employers and Weak Employees: How Does Employer Concentration Affect Wages?
w24249 Nicholas Bloom
Aprajit Mahajan
David McKenzie
John Roberts

Do Management Interventions Last? Evidence from India
w24262 Marco Di Maggio
Amir Kermani
Kaveh Majlesi

Stock Market Returns and Consumption
w24265 Craig Doidge
Kathleen M. Kahle
G. Andrew Karolyi
René M. Stulz

Eclipse of the Public Corporation or Eclipse of the Public Markets?
w24269 Victoria Ivashina
Benjamin Iverson

Trade Creditors' Information Advantage
w24221 Pablo Ottonello
Thomas Winberry

Financial Heterogeneity and the Investment Channel of Monetary Policy
w24230 Zheng Michael Song
Wei Xiong

Risks in China's Financial System
w24237 Roni Michaely
Stefano Rossi
Michael Weber

The Information Content of Dividends: Safer Profits, Not Higher Profits
w24208 David Sraer
David Thesmar

A Sufficient Statistics Approach for Aggregating Firm-Level Experiments
w24198 Hans K. Hvide
Paul Oyer

Dinner Table Human Capital and Entrepreneurship
w24180 Manuel Adelino
Kristopher Gerardi
Barney Hartman-Glaser

Are Lemons Sold First? Dynamic Signaling in the Mortgage Market
w24182 Ralph Koijen
Motohiro Yogo

The Fragility of Market Risk Insurance
2017
w24161 John Gathergood
Neale Mahoney
Neil Stewart
Joerg Weber

How Do Individuals Repay Their Debt? The Balance-Matching Heuristic
w24168 João Granja
Christian Leuz

The Death of a Regulator: Strict Supervision, Bank Lending and Business Activity
w24176 Rawley Z. Heimer
Alp Simsek

Should Retail Investors' Leverage Be Limited?
w24154 Michael D. Bordo
An Historical Perspective on the Quest for Financial Stability and the Monetary Policy Regime
w24142 Ming Dong
David Hirshleifer
Siew Hong Teoh

Stock Market Overvaluation, Moon Shots, and Corporate Innovation
w24132 Eduardo Dávila
Ansgar Walther

Does Size Matter? Bailouts with Large and Small Banks
w24102 Benjamin Bennett
René Stulz
Zexi Wang

Does the Stock Market Make Firms More Productive?
w24104 Vojislav Maksimovic
Gordon M. Phillips
Liu Yang

Do Public Firms Respond to Investment Opportunities More than Private Firms? The Impact of Initial Firm Quality
w24108 Anusha Chari
Ryan Leary
Toan Phan

The Costs of (sub)Sovereign Default Risk: Evidence from Puerto Rico
w24064 Jongsub Lee
Junho Oh
David Yermack

Credit Default Swaps, Agency Problems, and Management Incentives
w24081 John (Jianqiu) Bai
Daniel Carvalho
Gordon M. Phillips

The Impact of Bank Credit on Labor Reallocation and Aggregate Industry Productivity
w24082 Gordon M. Phillips
Alexei Zhdanov

Venture Capital Investments and Merger and Acquisition Activity Around the World
w24083 Christian Leuz
Steffen Meyer
Maximilian Muhn
Eugene Soltes
Andreas Hackethal

Who Falls Prey to the Wolf of Wall Street? Investor Participation in Market Manipulation
w24091 Michael Bailey
Eduardo Dávila
Theresa Kuchler
Johannes Stroebel

House Price Beliefs And Mortgage Leverage Choice
w24053 Josh Lerner
Amit Seru

The Use and Misuse of Patent Data: Issues for Corporate Finance and Beyond
w24058 Paige Ouimet
Geoffrey Tate

Learning from Coworkers: Peer Effects on Individual Investment Decisions
w24029 Tarek A. Hassan
Stephan Hollander
Laurence van Lent
Ahmed Tahoun

Firm-Level Political Risk: Measurement and Effects
w24003 Alberto Abadie
Susan Athey
Guido W. Imbens
Jeffrey Wooldridge

When Should You Adjust Standard Errors for Clustering?
w24018 Brandon Gipper
Luzi Hail
Christian Leuz

On the Economics of Audit Partner Tenure and Rotation: Evidence from PCAOB Data
w24011 Shai Bernstein
Timothy McQuade
Richard R. Townsend

Do Household Wealth Shocks Affect Productivity? Evidence from Innovative Workers During the Great Recession
w23985 Arvind Krishnamurthy
Stefan Nagel
Annette Vissing-Jorgensen

ECB Policies Involving Government Bond Purchases: Impact and Channels
w23994 Amine Ouazad
Romain Rancière

City Equilibrium with Borrowing Constraints: Structural Estimation and General Equilibrium Effects
w23996 Stefano DellaVigna
Matthew Gentzkow

Uniform Pricing in US Retail Chains
w23999 Stefan Avdjiev
Bilyana Bogdanova
Patrick Bolton
Wei Jiang
Anastasia Kartasheva

CoCo Issuance and Bank Fragility
w23967 Jongha Lim
Michael W. Schwert
Michael S. Weisbach

The Economics of PIPEs
w23920 Jonathan A. Parker
Nicholas S. Souleles

Reported Preference vs. Revealed Preference: Evidence from the Propensity to Spend Tax Rebates
w23930 Emmanuel Farhi
Jean Tirole

Shadow Banking and the Four Pillars of Traditional Financial Intermediation
w23933 Alexander M. Chinco
Adam D. Clark-Joseph
Mao Ye

Sparse Signals in the Cross-Section of Returns
w23895 William Gornall
Ilya A. Strebulaev

Squaring Venture Capital Valuations with Reality
w23907 Raymond Fisman
Keith Gladstone
Ilyana Kuziemko
Suresh Naidu

Do Americans Want to Tax Capital? Evidence from Online Surveys
w23910 Andrei S. Gonçalves
Chen Xue
Lu Zhang

Does the Investment Model Explain Value and Momentum Simultaneously?
w23866 Roy Shapira
Luigi Zingales

Is Pollution Value-Maximizing? The DuPont Case
w23869 Murillo Campello
Janet Gao
Jiaping Qiu
Yue Zhang

Bankruptcy and the Cost of Organized Labor: Evidence from Union Elections
w23874 Sabrina T. Howell
Are New Venture Competitions Useful?
w23883 Samuel M. Hartzmark
Kelly Shue

A Tough Act to Follow: Contrast Effects In Financial Markets
w23889 Alexander Ljungqvist
Konrad Raff

Busy Directors: Strategic Interaction and Monitoring Synergies
w23843 Brian S. Chen
Samuel G. Hanson
Jeremy C. Stein

The Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets
w23845 Randall Morck
Bernard Yeung

East Asian Financial and Economic Development
w23850 Arvind Krishnamurthy
Tyler Muir

How Credit Cycles across a Financial Crisis
w23812 Hideaki Miyajima
Ryo Ogawa
Takuji Saito

Changes in Corporate Governance and Top Executive Turnover: The Evidence from Japan
w23831 Richard T. Thakor
Andrew W. Lo

Optimal Financing for R&D-Intensive Firms
w23832 Steven N. Kaplan
Morten Sorensen

Are CEOs Different? Characteristics of Top Managers
w23767 John R. Graham
Mark T. Leary

The Evolution of Corporate Cash
w23776 Benjamin Hermalin
Biased Monitors: Corporate Governance When Managerial Ability is Mis-assessed
w23804 Naoshi Ikeda
Kotaro Inoue
Sho Watanabe

Enjoying the Quiet Life: Corporate Decision-Making by Entrenched Managers
w23785 Francesco D’Acunto
Marcel Prokopczuk
Michael Weber

Historical Antisemitism, Ethnic Specialization, and Financial Development
w23798 Bruce Carlin
Arna Olafsson
Michaela Pagel

FinTech Adoption Across Generations: Financial Fitness in the Information Age
w23799 Michael W. Faulkender
Kristine W. Hankins
Mitchell A. Petersen

Understanding the Rise in Corporate Cash: Precautionary Savings or Foreign Taxes
w23800 Ross Levine
Chen Lin
Wensi Xie

The Origins of Financial Development: How the African Slave Trade Continues to Influence Modern Finance
w23802 Atif Mian
Amir Sufi
Emil Verner

How do Credit Supply Shocks Affect the Real Economy? Evidence from the United States in the 1980s
w23755 Mark D. Flood
Dror Y. Kenett
Robin L. Lumsdaine
Jonathan K. Simon

The Complexity of Bank Holding Companies: A Topological Approach
w23696 Jonathan B. Berk
Jules H. van Binsbergen

Regulation of Charlatans in High-Skill Professions
w23704 João F. Gomes
Marco Grotteria
Jessica A. Wachter

Cyclical Dispersion in Expected Defaults
w23706 Andreas Fuster
Stephanie H. Lo
Paul S. Willen

The Time-Varying Price of Financial Intermediation in the Mortgage Market
w23715 Takeo Hoshi
Satoshi Koibuchi
Ulrike Schaede

The Decline in Bank-Led Corporate Restructuring in Japan: 1981-2010
w23723 Geoffrey Heal
Price Uncertainty and Price-Contingent Securities
w23650 Alexander M. Chinco
Mao Ye

Investment-Horizon Spillovers
w23654 Emilia Bonaccorsi di Patti
Anil Kashyap

Which Banks Recover From Large Adverse Shocks?
w23658 François Gourio
Anil K. Kashyap
Jae Sim

The Tradeoffs in Leaning Against the Wind
w23675 Seth G. Benzell
Laurence J. Kotlikoff
Guillermo LaGarda

Simulating Business Cash Flow Taxation: An Illustration Based on the "Better Way" Corporate Tax Reform
w23626 Shai Bernstein
Josh Lerner
Filippo Mezzanotti

Private Equity and Financial Fragility during the Crisis
w23598 Zhuo Chen
Zhiguo He
Chun Liu

The Financing of Local Government in China: Stimulus Loan Wanes and Shadow Banking Waxes
w23600 Jonathan Gruber
Amalie Jensen
Henrik Kleven

Do People Respond to the Mortage Interest Deduction? Quasi-Experimental Evidence from Denmark
w23608 Michael Bailey
Ruiqing (Rachel) Cao
Theresa Kuchler
Johannes Stroebel
Arlene Wong

Measuring Social Connectedness
w23612 Patrick Bolton
Haizhou Huang

The Capital Structure of Nations
w23614 Ricardo J. Caballero
Alp Simsek

A Risk-centric Model of Demand Recessions and Macroprudential Policy
w23596 Alex Edmans
Xavier Gabaix
Dirk Jenter

Executive Compensation: A Survey of Theory and Evidence
w23570 Efraim Benmelech
Adam Guren
Brian T. Melzer

Making the House a Home: The Stimulative Effect of Home Purchases on Consumption and Investment
w23583 Germán Gutiérrez
Thomas Philippon

Declining Competition and Investment in the U.S.
w23593 Luigi Zingales
Towards a Political Theory of the Firm
w23563 Kewei Hou
Haitao Mo
Chen Xue
Lu Zhang

The Economics of Value Investing
w23541 Raffaele Santioni
Fabio Schiantarelli
Philip E. Strahan

Internal Capital Markets in Times of Crisis: The Benefit of Group Affiliation in Italy
w23546 Nittai K. Bergman
Rajkamal Iyer
Richard T. Thakor

The Effect of Cash Injections: Evidence from the 1980s Farm Debt Crisis
w23511 Bruce Carlin
William Mann

Finance, farms, and the Fed's early years
w23512 Efraim Benmelech
Nittai K. Bergman

Credit Market Freezes
w23515 Dean Corbae
Pablo D'Erasmo

Reorganization or Liquidation: Bankruptcy Choice and Firm Dynamics
w23505 Andreas Nilsson
David T. Robinson

What is the Business of Business?
w23493 Isil Erel
Yeejin Jang
Bernadette A. Minton
Michael S. Weisbach

Corporate Liquidity, Acquisitions, and Macroeconomic Conditions
w23502 Manuel Adelino
Antoinette Schoar
Felipe Severino

Dynamics of Housing Debt in the Recent Boom and Great Recession
w23460 Vikas Mehrotra
Randall Morck

Governance and Stakeholders
w23464 Steven N. Kaplan
Are U.S. Companies Too Short-Term Oriented? Some Thoughts
w23469 Ross Levine
Chen Lin
Zigan Wang

Acquiring Banking Networks
w23476 Andrea L. Eisfeldt
Hanno Lustig
Lei Zhang

Complex Asset Markets
w23449 Anthony A. DeFusco
Charles G. Nathanson
Eric Zwick

Speculative Dynamics of Prices and Volume
w23452 Tomasz Piskorski
Alexei Tchistyi

An Equilibrium Model of Housing and Mortgage Markets with State-Contingent Lending Contracts
w23454 Paul A. Gompers
Sophie Q. Wang

And the Children Shall Lead: Gender Diversity and Performance in Venture Capital
w23459 Paul A. Gompers
Kevin Huang
Sophie Q. Wang

Homophily in Entrepreneurial Team Formation
w23419 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

Imperfect Financial Markets and Shareholder Incentives in Partial and General Equilibrium
w23424 Ali Ozdagli
Michael Weber

Monetary Policy through Production Networks: Evidence from the Stock Market
w23425 Michał Dzieliński
Alexander F. Wagner
Richard J. Zeckhauser

Straight Talkers and Vague Talkers: The Effects of Managerial Style in Earnings Conference Calls
w23428 Robert S. Harris
Tim Jenkinson
Steven N. Kaplan
Ruediger Stucke

Financial Intermediation in Private Equity: How Well Do Funds of Funds Perform?
w23432 David Hirshleifer
Po-Hsuan Hsu
Dongmei Li

Innovative Originality, Profitability, and Stock Returns
w23434 Chen Lin
Thomas Schmid
Michael S. Weisbach

Price Risk, Production Flexibility, and Liquidity Management: Evidence from Electricity Generating Firms
w23407 Laura Alfaro
Gonzalo Asis
Anusha Chari
Ugo Panizza

Lessons Unlearned? Corporate Debt in Emerging Markets
w23394 Kewei Hou
Chen Xue
Lu Zhang

Replicating Anomalies
w23356 Jeffrey R. Brown
Jiekun Huang

All the President's Friends: Political Access and Firm Value
w23373 Markus Ibert
Ron Kaniel
Stijn Van Nieuwerburgh
Roine Vestman

Are Mutual Fund Managers Paid For Investment Skill?
w23331 Heitor Almeida
Kristine Watson Hankins
Ryan Williams

Risk Management with Supply Contracts
w23310 Irem Demirci
Jennifer Huang
Clemens Sialm

Government Debt and Corporate Leverage: International Evidence
w23316 Falk Bräuning
Victoria Ivashina

Monetary Policy and Global Banking
w23317 Mike Anderson
René M. Stulz

Is Post-Crisis Bond Liquidity Lower?
w23291 Mark Egan
Stefan Lewellen
Adi Sunderam

The Cross Section of Bank Value
w23300 Nicholas Bloom
Erik Brynjolfsson
Lucia Foster
Ron S. Jarmin
Megha Patnaik
Itay Saporta-Eksten
John Van Reenen

What Drives Differences in Management?
w23302 Adriano A. Rampini
S. Viswanathan

Financial Intermediary Capital
w23305 Shai Bernstein
Emanuele Colonnelli
Ben Iverson

Asset Allocation in Bankruptcy
w23268 Joan Farre-Mensa
Deepak Hegde
Alexander Ljungqvist

What is a Patent Worth? Evidence from the U.S. Patent "Lottery"
w23273 Raphael Boleslavsky
Bruce I. Carlin
Christopher Cotton

Competing for Capital: Auditing and Credibility in Financial Reporting
w23274 Azi Ben-Rephael
Bruce I. Carlin
Zhi Da
Ryan D. Israelsen

Demand for Information and Asset Pricing
w23276 Matthew Gentzkow
Bryan T. Kelly
Matt Taddy

Text as Data
w23288 Greg Buchak
Gregor Matvos
Tomasz Piskorski
Amit Seru

Fintech, Regulatory Arbitrage, and the Rise of Shadow Banks
w23249 Juliane Begenau
Berardino Palazzo

Firm Selection and Corporate Cash Holdings
w23255 John R. Graham
Campbell R. Harvey
Jillian Popadak
Shivaram Rajgopal

Corporate Culture: Evidence from the Field
w23226 Lu Zhang
The Investment CAPM
w23242 Mark L. Egan
Gregor Matvos
Amit Seru

When Harry Fired Sally: The Double Standard in Punishing Misconduct
w23211 Itzhak Ben-David
Marieke Bos

Impulsive Consumption and Financial Wellbeing: Evidence from an Increase in the Availability of Alcohol
w23212 Bernadette A. Minton
René M. Stulz
Alvaro G. Taboada

Are Larger Banks Valued More Highly?
w23216 Efraim Benmelech
Carola Frydman
Dimitris Papanikolaou

Financial Frictions and Employment during the Great Depression
w23191 Robin Greenwood
Andrei Shleifer
Yang You

Bubbles for Fama
w23194 Markus K. Brunnermeier
Michael Sockin
Wei Xiong

China's Gradualistic Economic Approach and Financial Markets
w23170 Wenxin Du
Alexander Tepper
Adrien Verdelhan

Deviations from Covered Interest Rate Parity
w23176 Xavier Giroud
Holger M. Mueller

Firms' Internal Networks and Local Economic Shocks
w23179 Felipe Restrepo
Lina Cardona Sosa
Philip E. Strahan

Funding Liquidity without Banks: Evidence from a Shock to the Cost of Very Short-Term Debt
w23152 Alexander Wagner
Richard J. Zeckhauser
Alexandre Ziegler

Company Stock Reactions to the 2016 Election Shock: Trump, Taxes and Trade
w23167 Kyriakos T. Chousakos
Gary B. Gorton

Bank Health Post-Crisis
w23168 Eleanor W. Dillon
Christopher T. Stanton

Self-Employment Dynamics and the Returns to Entrepreneurship
w23162 Shai Bernstein
Emanuele Colonnelli
Xavier Giroud
Benjamin Iverson

Bankruptcy Spillovers
w23121 Benjamin Hermalin
Michael Weisbach

Assessing Managerial Ability: Implications for Corporate Governance
w23133 Peter Chen
Loukas Karabarbounis
Brent Neiman

The Global Rise of Corporate Saving
w23091 Kelly Shue
Richard Townsend

How do Quasi-Random Option Grants Affect CEO Risk-Taking?
w23115 Briana Chang
Harrison Hong

Assignment of Stock Market Coverage
w23066 Francesco D’Acunto
Ryan Liu
Carolin Pflueger
Michael Weber

Flexible Prices and Leverage
w23080 Liangliang Jiang
Ross Levine
Chen Lin

Does Competition Affect Bank Risk?
w23082 Paul A. Gompers
Sophie Q. Wang

Diversity in Innovation
w23083 Thomas Philippon
Pierre Pessarossi
Boubacar Camara

Backtesting European Stress Tests
w23041 Mara Faccio
Luigi Zingales

Political Determinants of Competition in the Mobile Telecommunication Industry
w23052 B. Zorina Khan
Related Investing: Corporate Ownership and Capital Mobilization during Early Industrialization
w23055 Douglas W. Diamond
Yunzhi Hu
Raghuram G. Rajan

Pledgeability, Industry Liquidity, and Financing Cycles
w23030 Charles G. Nathanson
Eric Zwick

Arrested Development: Theory and Evidence of Supply-Side Speculation in the Housing Market

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