political majority may prefer to restrain governance by dispersed equity investors even if this reduces profits. The reason is …

collective norms on what is proper compensation play an important role in reducing the claim of workers on the firm’s surplus …

impact of changes in corporate governance on financing policy. We find that, relative to a control sample of comparable firms … outside the Netherlands, Dutch firms significantly reduced their leverage following the passage of the reform. Our findings …

the implications is that firms actually may benefit from consumers having low (rather than high) search costs. …

The search literature assumes that consumers know which firms sell products they are looking for, but are unaware of … are uncertain whether a firm carries the product at all by proposing a model where in the first stage firms decide on … whether or not to carry the product. Firms may advertise, informing consumers not only of the price they charge, but also of …

when investors jump on the bandwagon and invest irrespective of their private information content. We argue that the …