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 paper models the launch decision of pharmaceutical companies in regard to new drugs and country markets. New drugs are launched with a delay or not launched at all in many countries. Considering that many of these new drugs would have created health benefits to the patients, there seems to...

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....

Experimental choices between delayed rewards are claimed to provide support for a model of preferences referred to variously as "quasi-hyperbolic," "hyperbolic," and "‚-‰." This paper shows that the experimental results do not differentiate quasi-hyperbolic discounting from exponential...

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...

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...

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...

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...