"We exploit demographic variation to identify the effect of dividend demand on firm payout policy. Retail investors tend to hold local stocks and older investors prefer dividend-paying stocks. Together, these tendencies generate geographically-varying demand for dividends. Firms headquartered in...

"We use firm-level data for U.S. multinational enterprises (MNE) and the model of firm heterogeneity first presented in Helpman, Melitz, and Yeaple (2004) to make four empirical contributions. First, we show that the most productive U.S. firms invest in a larger number of foreign countries and...

"We study the characteristics and abilities of CEO candidates for companies involved in buyout (LBO) and venture capital (VC) transactions and relate them to hiring decisions, investment decisions, and company performance. Candidates are assessed on more than thirty individual abilities. The...