We exploit exogenous variation in tax notches created by controlled foreign corporation (CFC) rules to better understand the profit-shifting behavior of multinational enterprises (MNEs) and its consequences for real activity. Using new data on CFC rules and information on direct parent-affiliate...

When war broke out in Eastern Ukraine in 2014, the government of Ukraine failed to provide adequate defense to maintain its territorial integrity. In the wake of this government failure, several private volunteer efforts arose to meet popular demand for military action against Russian-backed...

The conventional view in accounting is that diversification increases audit complexity and, in turn, audit fees. Conversely, the coinsurance effect of diversification hypothesis suggests that combining multiple business segments with imperfectly correlated earnings provides a coinsurance effect...

We use daily administrative data from a leading automobile manufacturer to study the organizational impacts of introducing new models to the auto assembly line. We first show that costly defects per vehicle spike when new models are introduced. As a response, the firm trains in problem-solving...

The socio-political system that has developed over the last several decades has had a detrimental effect on our societal values and has all but brought the nation to a standstill. The way that individuals work and act has been significantly impacted as a result. Our ideas of human resource...

In an agency model with adverse selection, we study how hidden interactions between agents affect the optimal contract. The principal employs two agents who learn their task environments through their involvement. The principal cannot observe the task environments. It is important to note that...