rather than by increased distance to the wards. Moreover, the closures reduced the use of C-sections for high-risk births …

-coded administrative wage data from the German IAB Employment Sample (IABS). We then relate these robust measures of earnings risk to the … risk attitudes of individuals working in these occupations. We find that willingness to take risk is positively correlated …

We study the interrelation between two types of risk sharing -- within the firm and on capital markets -- by analyzing … the effect of wrongful-discharge laws (WDLs) on stock returns. Consistent with rational, risk-based pricing, the effect on … returns is linked to how shareholders and workers share systematic risk via distinct channels of employment and wage …

on the exact design of the law. Consistent with rational, risk-based pricing, the effect on returns seems to be linked to … how firms share systematic risk with their employees under the respective laws. Firms in states with WDLs prohibiting … employers from acting in bad faith have more intra-firm risk sharing and lower expected returns. Vaguer legislation that …

We analyze an oligopolistic market where a domestic and a foreign firm are engaged in a takeover battle for a domestic … competitor. Any merger or acquisition (M&A) must be approved by a welfare maximizing domestic competition agency which may or may … of government. With an unbiased competition agency we find that the foreign takeover is more likely to occur the higher …

considers the evidence on return predictability, risk aversion and market efficiency. The paper then focuses on the theoretical …

The risk of default that business firms face is very significant and differs widely across countries. This paper … explores the links between countries' business conditions and international trade embedment and the default risk at the country … default risk of firms which operate in these environments. The predictions are in accord with readily available data …