investment efficiency, and whether spillover effects vary with competition. We focus on the tone of MD&A disclosures and document …We explore whether disclosures in the Management Discussion & Analysis (MD&A) have spillover effects for investment and … substitutable products. We obtain similar results for investment efficiency. Overall, our evidence suggests that MD&A disclosures have …

This paper examines the propensity of firms to comove in investment decisions. Although stock return comovement and … herding among investors received considerable attention in existing work, little is known about correlated investment behavior … firms imitate other firms and rely on public information rather than on firm specific private information about investment …

We investigate how geographic distance relates to corporate investment decisions (i.e., investment location and … ownership structure choices), using a setting of Taiwanese firms' investment in mainland China. We measure geographic distance …-in-difference research design. Our analyses show that greater geographic distance is associated with a lower investment likelihood and a …

We study whether, how, and why the investment of a firm depends on the investment of other firms in the same product … complementarity of investment among product market peers, holding across a large majority of sectors. Peer effects are stronger in … information. Product market peer effects in investment could amplify shocks in production networks …

This paper identifies endogenous and exogenous indicators of firms' investment activity, and examine, in particular …, the effect that these variables have in co-determining firms' investment decisions. Two channels of spillovers from …

participation among MNCs is associated with the offshoring of U.S. employment and other domestic investment activities. We find that … domestic (foreign) investment, as proxied by capital expenditures and R&D activity, which suggests that temporary foreign tax … on the allocation of firm resources and the potential consequences of international tax competition …

in q-theory and recent investment-based asset pricing models. We test simple composite indices of limits-to-arbitrage or …This study comprehensively reexamines the debate over behavioral and rational explanations for the investment effect in … prominent measures of corporate investment and corporate profitability either as a standard control or as a structural variable …

in q-theory and recent investment-based asset pricing models. We test simple composite indices of limits-to-arbitrage or …This study comprehensively reexamines the debate over behavioral and rational explanations for the investment effect in … prominent measures of corporate investment and corporate profitability either as a standard control or as a structural variable …