Atmospheric long-wave down-welling radiation is a fundamental element of climate change and of input to thermal simulation. Measuring long-wave radiation is needed to calculate locally total energy flows to the earth's surface and night cooling rates in urban precincts. It is an important...

Using the Sarbanes-Oxley Act of 2002 as a natural experiment, we document a non-monotonic relation between board independence and credit ratings. Ratings are upgraded with an exogenous increase of board independence only when independence is low, which is consistent with the costs as well as...

In international joint ventures (IJVs), partner firms exert three types of management control: output, process, and social. Since management control critically influences IJV success, it is essential to understand what factors drive the development of the control system. Prior studies have...

This paper documents that classified boards substantially reduce the cost of debt. The evidence is not consistent with the argument that bondholders benefit from board classification because they are concerned about hostile takeovers. Instead, the results suggest that the lessened concern for...

As emerging markets develop, foreign firms are being viewed less and less as providers of capital and/or technology, and more as integral parts of society in general, with much greater responsibilities that stem largely from their multinational roles. Recognizing these pressures and the...

We find that firms that provide limited liability and indemnification for their directors enjoy higher credit ratings and lower yield spreads. We argue that such provisions insulate corporate directors from the discipline from potential litigation, and allow them to pursue their own interests by...

This paper examines the performance of Silicon Valley ventures with Asian-American founding teams. We review some challenges faced by these ventures, compare their performance with that of other ventures, and analyze the impact of strategic partnerships on their performance. Our results indicate...