We examine whether politically active firms play a role in disseminating political information via their management guidance. We use multiple proxies based on campaign financing activity or the presence of a government affairs office to capture whether a firm is politically active. We find that...

We show that financial shocks to lenders affect the composition of covenants in new debt contracts in a way that cannot be explained by borrower fundamentals. Using two distinct measures of lender-specific shocks—defaults in a lender's corporate loan portfolio that occur outside the borrower's...

We exploit plausibly exogenous variation in the tax consequences of renegotiating U.S. syndicated loans to isolate the effect of renegotiation costs on initial contract terms. TD9599 materially reduced the tax burden of renegotiating U.S. syndicated loans, while leaving the taxation of...

We examine how corruption influences the mortgage market. Prior research documents that corruption is most costly in cases, like home buying, where government interaction is frequent and necessary. Accordingly, after anti-corruption laws pass bank-offices both accept more mortgage applications,...

This article aims to contribute to the discussion about how to make development interventions more effective by analyzing the factors contributing to the success or failure of rural development projects. We made an aggregate level analysis of 46 projects in the field of agricultural research...

The potential of migrants to promote poverty reduction and development in their regions of origin – which is generally referred to as the ‘migration and development nexus’ – is a hot topic on the development agenda. Several seminars on this issue have recently been held, such as the 2006...

Under Vietnam’s State land ownership regime, the Government holds supreme authority over compulsory land acquisition. The results show that many improvements in land acquisition policies have been made, but poor implementation measures largely cannot prevent or even mitigate the adverse...