We build a general equilibrium production-based asset pricing model with heterogeneous firms that jointly accounts for firm-level and aggregate facts emphasized by the recent macroeconomic literature, and for important asset pricing moments. Using administrative firm-level data, we establish...

I examine whether contracts that obligate the customer to periodically disclose to the supplier its forecast of future demand for the supplier's products (“DF contracts”) influence the supplier's reliance on stock prices when making corporate investment decisions. If managers find customer...