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Profitability, as measured by gross profits-to-assets, has roughly the same power as book-to-market predicting the cross-section of average returns. Profitable firms generate significantly higher average returns than unprofitable firms, despite having, on average, lower book-to-markets and...
Persistent link: https://www.econbiz.de/10012462711
In principle, a multiproduct firm can set separate prices for all possible bundled combinations of its products (i.e., "mixed bundling"). However, this is impractical for firms with more than a few products, because the number of prices increases exponentially with the number of products. In...
Persistent link: https://www.econbiz.de/10012464731
This paper develops a framework to analyze the relationship between the diffusion of new technologies and the decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly available information. However, the manager can use her...
Persistent link: https://www.econbiz.de/10012466463
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, and reduced corporate pollution among firms that (a) release the specific chemicals covered by Apex and (b) are close to … suggest that creditors rapidly responded to Apex and successfully induced firms to reduce pollution …
Persistent link: https://www.econbiz.de/10012938709
builds a framework to detect whether local governments skip air pollution monitoring when they expect air quality to … deteriorate. We infer this expectation from air quality alerts - public advisories based on local governments' own pollution … individual pollution monitor in Jersey City, NJ, suspected of a deliberate shutdown during the 2013 "Bridgegate" traffic jam …
Persistent link: https://www.econbiz.de/10012510614
those plants, relative to areas slightly farther away. The case provides a salient example of a pollution-haven effect …
Persistent link: https://www.econbiz.de/10012616594
This article proposes and evaluates four hypotheses about US pollution and environmental policy over the last half … century. First, air and water pollution have declined substantially, although greenhouse gas emissions have not. Second …, environmental policy explains a large share of these trends. Third, much of the regulation of air and drinking water pollution has …
Persistent link: https://www.econbiz.de/10012696387
Using a unique combination of datasets and estimation techniques, we test whether private lease negotiations to extract oil and natural gas exhibit features of Coasian efficiency. We demonstrate that measures of wealth (including income, house square footage, and land acreage), typically...
Persistent link: https://www.econbiz.de/10012696396