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China's admission into the WTO in 2001 heralded a new era of globalization, increasing both import competition in domestic markets and foreign opportunities for US firms. In the aggregate, the average annual profitability of US public firms during the post globalization period (2003-2019)...
Persistent link: https://www.econbiz.de/10014512056
investors being socially-conscious and governing through "voice." This hinges upon understanding which firm strategies actually …
Persistent link: https://www.econbiz.de/10014226139
commitments, tend to have lower emissions; firm commitments are less prevalent in countries where governments have made national …
Persistent link: https://www.econbiz.de/10014287345
Researchers often test firm conduct models using pass-through regressions or instrumental variables (IV) methods. The …
Persistent link: https://www.econbiz.de/10015056190
Career opportunities and expectations shape people's decisions and can diminish over time. In this paper, we study the career implications of automation and robotization using a novel data set of resumes from approximately 16 million individuals from the United States. We calculate the lifetime...
Persistent link: https://www.econbiz.de/10014635618
safety-related investments in their existing assets-in-place. These investments vary with firm capabilities and across shock …
Persistent link: https://www.econbiz.de/10014635666
Using firm-level administrative tax data on the 43% of business liabilities in the United States tied to privately held … firms, we document dramatic reductions in leverage since the Great Recession. Leverage for the average private firm fell … leverage among private firms is inconsistent with theories that suggest firm leverage tracks pro-cyclical credit market …
Persistent link: https://www.econbiz.de/10013210062
firm therefore does not capture the full surplus of its innovations. We show that common ownership of firms mitigates this …
Persistent link: https://www.econbiz.de/10014512046
For many firms, the acquisition process begins with the development of an acquisition plan that is communicated to investors. We construct a comprehensive sample of acquisition plans to provide novel perspectives on the acquisition process and find that acquisition plans are informative to...
Persistent link: https://www.econbiz.de/10014512055
During project development, costs are endogenously determined through delegated bargaining with counterparties. In surveys, nearly 80% of CFOs report using an elevated hurdle rate, the implications of which we explore in a delegated bargaining model. We show that elevated hurdle rates can convey...
Persistent link: https://www.econbiz.de/10014512137