This study examines the characteristics of corporate boards for 82 companies that attempted 106 acquisitions during the 1980s. We find that poor performance is more likely to occur in firms that have recently experienced higher turnover of outside and lower turnover of inside directors....

This study examines whether personal net worth affects new venture creation and performance. Prior research on wealth and entrepreneurial entry has relied on data providing only a snapshot of the transition into self-employment. The present study draws on a sample of US nascent entrepreneurs...

Different theoretical explanations have been developed for seemingly inconsistent actions that deal with varying levels of time and risk: Allais Paradox, present-bias, dynamic inconsistency, risk aversion, prospect theory, and the utility of gambling, for example. This study develops a simple...

Information about collectively-created problems, such as air pollution, may elicit voluntary changes to consumer behavior that at least partially offset the cause of the problem. We show that increases in information about climate change are associated with statistically and economically...

We examine the correlation between federal government activity and the performance of the D.C. area's National Football League team, the Washington Redskins. We find a significantly positive, non-spurious, and robust correlation between the Redskins' winning percentage and the amount of federal...

We exploit a quasi-natural experiment to identify the effect of regulatory accumulation on economic growth. Following a decade of poor economic growth, the Canadian province of British Columbia implemented a regulatory budget in 2001. We use a difference-in-differences strategy to estimate the...

We explore how multilateral environmental regulations may adversely affect trade flows between countries with different incomes. Using the gravity equation, we examine the effect on bilateral trade flows of increases in environmental regulation stringency ratings, taken from survey data covering...

We estimate the effects of federal regulation on value added to GDP for a panel of 22 industries in the United States over a period of 35 years (1977–2012). The structure of our linear specification is explicitly derived from the closed-form solutions of a multisector Schumpeterian model of...

Experiments on intertemporal choice have found "preference reversals" and related anomalies. These robust findings have been considered a major source of support for the quasi-hyperbolic discounting model of consumption preference. Our analysis clarifies the relationship between the experimental...

We show that multilateral environmental regulations may affect trade flows differently than unilaterally generated regulations. Using the gravity equation, we test the effect on bilateral trade flows of increases in environmental regulation stringency ratings, taken from survey data, with a...