Deregulation of the trucking industry and significantly lowered transportation costs led to large, widespread, and plausibly exogenous reductions in inventory for U.S. firms, but with consequent increased supply chain disruption costs. We find evidence that increased supply chain disruption...

Between 2004 and 2008, $131 billion of stock was repurchased via accelerated share repurchases (ASRs), and in 2007, ASR announcements represented about 26% of the total number of repurchase program announcements. ASRs are credible commitments by firms to repurchase shares immediately. Including...

Accelerated share repurchases (ASRs) are credible commitments by firms to repurchase shares immediately. Including an ASR in a repurchase program reduces the flexibility that firms have to alter an announced program in response to subsequent changes in the price and liquidity of its shares,...