reaching the right tails of the firm size and innovation distributions. Furthermore, outcomes are better for startups matched …

market synergies. Using novel text-based analysis of firm 10K product descriptions, we find three key results. (1) Firms are … firms. Our findings are consistent with similar merging firms exploiting synergies to create new products and increase their …

positive or negative monitoring synergies across firms. Whether busyness benefits or harms shareholders depends on whether … directors' effort choices are strategic substitutes or complements and on the sign of the cross-firm synergies. Our empirical … facing a crisis. Consistent with the model, we find that busy directors increase monitoring at spillover firms when synergies …

This paper studies optimal contracting under synergies. We define influence as the extent to which effort by one agent … reduces a colleague's marginal cost of effort, and synergy to be the sum of the (unidimensional) influence parameters across a … depends only on total synergy and not individual influence parameters. An increase in synergy raises total effort and total …

Examines the institutional factors influencing financial innovation, the consequences of financial development …