Applying a negative binomial regression model, this paper investigates how Chinese exports have reshaped the global value chain and the use of antidumping. We use trade in value‐added statistics to distinguish between Chinese exports of intermediate and final products to its main trading...

We extend the evidence on whether investors impound efficiently into stock prices new disclosures about corporate Ramp;D programs. We find firms that disclose the discontinuation of some of their Ramp;D programs experience a significant negative announcement-period stock price response which is...

We show that the manager of a sufficiently undervalued firm is incentivized to allocate financial slack for a share repurchase to gain an immediate, risk free, and corporate tax free wealth transfer from uninformed shareholders, instead of undertaking a real investment with long term, risky, and...