This study examines the effects of CEO global reputation on cross-border M&A performances. Based on the CEO's Twitter accounts, we hand-collect the information about the CEO’s followers to measure their global reputation. We find that CEOs with better global reputations improve cross-border...

This paper examines the impact of borrowers' managerial ability on lenders' bank-loan pricing and the channels through which managerial ability affects bank-loan pricing. Using a large sample of U.S. bank loans, we provide evidence that higher managerial ability is associated with lower...

This paper examines the impact of borrowers' managerial ability on lenders' bank-loan pricing and the channels through which managerial ability affects bank-loan pricing. Using a large sample of U.S. bank loans, we provide evidence that higher managerial ability is associated with lower...

We consider forecast guidance as a mechanism that managers use to avoid negative earnings surprises. Modeling forecast guidance using methods by Matsumoto, [Accounting Review 77 (3) (2002) 483-514] and Bartov et al. [Journal of Accounting and Economics 33 (2) (2002) 173-204], we show that...

I examine how the debt covenant structure of a firm varies with managerial risk-taking incentives via CEO compensation sensitivities to stock return volatility (Vega). I build a comprehensive firm debt covenant index by including both public and private debt issues. I find a robust negative...

We study if a CEO's equity-based compensation affects the expected value generation in takeovers. When the objectives of management and shareholders are more aligned, as proxied by the use of equity-based compensation, more value-maximizing acquisitions are expected. Whereas in widely-held firms...

We study if a CEO's equity-based compensation affects the expected value generation in takeovers. When the objectives of management and shareholders are more aligned, as proxied by the use of equity-based compensation, more value-maximizing acquisitions are expected. Whereas in widely-held firms...

We investigate the effect of CEO inside debt (i.e. pension benefits and deferred compensation) on firms' asset tangibility and investment. Asset tangibility is measured by Property, Plant and Equipment, Asset Tangibility (Berger, Ofek and Swary, 1996), and tangible assets. Our findings are...

I examine the effects of entrenchment on corporate investment and firm performance. To achieve identification, I use a novel measure of entrenchment and an instrumental variable based on firms' IPO cohort. I find that entrenchment reduces capital expenditures, R&D, and productivity, weakens a...

We examine the effects of entrenchment on corporate investment and firm performance. To achieve identification, we use a novel measure of entrenchment and an instrumental variable based on firms' IPO cohort. We find that entrenchment reduces capital expenditures, R&D, and productivity, weakens a...