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This paper sheds new light on the assessment of firm networks via multiple directorships in terms of corporate firm performance. Using a large sample of European listed firms in the period from 2003 to 2011 and system GMM we find a significant compensation effect on corporate firm performance...
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We study why acquisitions of entrant firms by an incumbent can deter innovation and entry in the digital platform industry, where there are strong network externalities and some customers face switching costs. A high probability of an acquisition induces some potential early adopters to wait for...
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We show that stricter bank liquidity standards can trigger unintended credit booms when there is heterogeneity in …
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Does an intensification of competition among banks increase or decrease liquidity creation? By integrating the dynamic … facing each individual bank. We find that regulatory-induced competition reduced liquidity creation. Consistent with some … theories, we also find that the liquidity-destroying effects of competition are mitigated among more profitable banks and …
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We model a market for news where profit maximizing media outlets choose their editors from a population of rational citizens. We show that when information acquisition is costly, liberal (conservative) citizens find optimal to acquire information from a media outlet having a liberal...
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