Consistent with the monitoring role of analysts, we find work-related injury rates are negatively related to higher levels of analyst coverage. This result is robust to approaches designed to mitigate endogeneity concerns and is stronger in industries where unions are less powerful, for firms...

Using staggered climatic disasters in the U.S, we find that earnings forecasts by analysts who experienced a major climatic disaster become less accurate than those by the unaffected analysts within three months after the disaster due to distracted attention. Stock prices respond less strongly...

We examine how workplace injury rates change when firms are subject to a corporate tax shock. We find that tax increases lead to a significance increase in reported injuries, but tax decreases have no similar effect. Our difference-in-differences empirical strategy relies on staggered...

We investigate how CEO's risk incentive (vega) affects firm innovation. To establish causality, we exploit compensation changes instigated by the FAS 123R accounting regulation in 2005 that mandated stock option expensing at fair values. Our identification tests indicate a positive and causal...

Technology acquirers face significant information asymmetry when identifying appropriate acquisition targets. Employing plausibly exogenous variation in technological information gathering costs caused by staggered openings of patent libraries, we find that firms become more active in...