Using a novel dataset that allows us to trace the bank relationships of a sample of mostly unlisted firms, we explore which borrowers are able to benefit from foreign bank presence in emerging markets. Our results suggest that the limits to financial integration are less tight than the static...

I explore CEOs' incentives to select firm strategies and to acquire firm-specific skills when a few potential employers seeking to hire experienced CEOs create incentives for job-hopping. Several features of managerial compensation, such as benchmarking of pay to larger and more prestigious...