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This paper studies the investor's investment decision in a standard financial contracting model with contractual constraints. The investor chooses between entrepreneurs with heterogeneous production technologies who generate different probability distributions of cash flow under effort. I...
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While a firm's success increasingly relies on technological innovation, little is known, however, about whether and how analysts utilize information about a firm's technological innovation for their information production. We construct technological expertise for each analyst-firm pair based on...
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(2013) that describes how economy-wide technology shocks affect the value of organizational capital, an important intangible … technology shock are associated with lower earnings timeliness, particularly for firms with more organizational capital. I also … hypothesize and find that technology shocks are associated with more subsequent goodwill impairment and restructuring, and that …
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Traditional economic wisdom claims that - while global economic integration is beneficial for economic performance - a country's trade specialization pattern has no impact on its economic performance. In this paper, we seek to cast doubt on this aspect of mainstream economics using a very...
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