Noise pollution has been shown to impact physical and mental health, and changes in air traffic over densely populated residential areas is an important contributor to this health risk. Albeit significant endogeneity concerns, hedonic models of house sale prices are typically used to quantify...

Combining studies on real options theory and economic short-termism, we propose that, depending on CEOs' career horizons, CEOs will have heterogeneous interests in and incentives to make real options investments. We argue that compared to CEOs with longer career horizons, CEOs with shorter...

When liquidity providers for one asset obtain information from other asset prices, this may magnify the (upward or downward) comovement of asset liquidity. It also may yield an illiquidity multiplier. We empirically test the magnitude of this illiquidity multiplier for a sample of U.S. equity...

The legal environment is a significant source of disruption for business. With this disruption also comes the opportunity for innovation by firms willing to understand how legal systems function. This manuscript shows how firms can respond to legal volatility, uncertainty, complexity, and...

We hypothesize that connections with buy-side analysts provide a sell-side analyst with private information generated by the buy-side that enhances the quality of sell-side research. We proxy for these connections with the number of stocks at the intersection of stocks held in the portfolios of...

Governments and firms often use committees of experts to help them make complexdecisions, but conflicts of interest could bias experts' recommendations. We focus on whetherfinancial ties to drug companies bias FDA drug advisory committee (AC) members' voting ondrug approval recommendations. We...

Prior studies find that long auditor tenure improves audit quality. An alternative explanation, however, is that low audit quality increases auditor turnover, thereby self-selecting into the short-tenure group. To disentangle these explanations, this paper examines selection bias in audit firm...

Crowdsourcing contests are contests by which organizations tap into the wisdom of crowds by outsourcing tasks to large groups of people on the Internet. In an online environment often characterized by anonymity and lack of trust, there are inherent uncertainties for participants of such...

Purpose: The purpose of this study is to propose an integrated approach to diverse and convoluted types of consumption. The new theoretical framework represents composite types of tangible and intangible consumption contributing to consumer life satisfaction (LS) in...

I use the passage of the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA), which alters the after-tax considerations of foreign internal capital markets, as a quasi-natural experimental setting to test whether a reduction in the tax costs associated with moving foreign capital...