Mergers & acquisitions (M&A) are most popular external growth strategies. While the number of M&A has been increasing during the past decades, on average, only the shareholders of target firms gain value during the acquisitions process, while acquirers do not receive abnormal positive returns....

This paper examines the reliance on ESG metrics in executive compensation contracts. In our sample of international publicly traded firms, a rapidly growing fraction incorporate ESG metrics in the compensation schemes of their top executives. Our analysis links the reliance on these metrics to...

The COVID-19 pandemic increased pressure on the relationship between governments and the public, making cooperation between both actors more critical than ever. Surprisingly, there is significant variation in public compliance with health policies, especially regarding vaccine uptake across...

This study analyzes the impact of COVID-19 deniers on the spread of COVID-19 in Germany. In a first step, we establish a link between regional proxies of COVID-19 deniers and infection rates. We then estimate the causal impact of large anti-lockdown protests on the spread of COVID-19 using an...

Uniquely amongst industrialized countries worldwide, Germany does not impose a general speed limit on highways. This is different in the Netherlands, where a limit of 130km/h is implemented. The direct border between the two countries provides an opportunity to construct a natural experiment and...