We structurally estimate a set of firm- and time-varying measures of the magnitude of external financial constraints. By considering the entire capital structure—equity and debt of various maturities—we identify on which external financing margin(s) a firm is constrained at a given point in...

The present study is part of a much larger study that examined the ethics of bribery and the ethics of tax evasion from a variety of perspectives. Data were taken from the most recent Wave of the World Values Survey. The survey asked individuals in 52 countries how frequently ordinary people pay...

We propose an original lab experiment to analyze how introducing a risk prevention mechanism affects individuals’ insurance choices. After choosing a level of coverage in a compulsory insurance contract, the insured can make a costly prevention effort to reduce the likelihood of a loss...

In this paper, we extend the model in Diamond and Verrecchia (1987) by incorporating the effect of price limit and argue that the removal of short-sale constraints could synergize with price limit relaxation to speed up the price discovery. We show that the exogenous relaxation of price limit...

In this paper, we extend the model in Diamond and Verrecchia (1987) by incorporating the effect of price limit and argue that the removal of short-sale constraints could synergize with price limit relaxation to speed up the price discovery. We show that the exogenous relaxation of price limit...

We examine whether prior offshoring experience relates to future sourcing location decisions - specifically, whether to source from offshore or domestic providers - for outsourced activities. We also examine the factors differentiating the location decisions of management teams with more or less...