proportions of individuals who exhibit each type of behavior. We find that i) three quarters of individuals exhibit trend …-chasing behavior; ii) seven times as many individuals exhibit behavior consistent with Barberis, Shleifer, and Vishny (1998) as exhibit … behavior consistent with Rabin (2002); and iii) no individuals earn superior returns from momentum trading …

Europe. We find that (i) larger firms are less efficient than smaller firms, (ii) greater leverage contributes to corporate … opposite is true when minority shareholders hold a substantial fraction of the firmś equity. In the analysis, we distinguish …

Firms adjust to differences in market size and demand uncertainty by changing the frequency and size of their export … data we confirm that firms adjust on both margins for market size. In a stochastic setting, firms adjust to increased … uncertainty by reducing their sales and, for a given export volume, by reducing their number of shipments and increasing their …