We examine how workplace injury rates change when firms are subject to a corporate tax shock. We find that tax increases lead to a significance increase in reported injuries, but tax decreases have no similar effect. Our difference-in-differences empirical strategy relies on staggered...

We investigate how CEO's risk incentive (vega) affects firm innovation. To establish causality, we exploit compensation changes instigated by the FAS 123R accounting regulation in 2005 that mandated stock option expensing at fair values. Our identification tests indicate a positive and causal...

In this study, we investigate the relationship between various dimensions of diversification and the cost of debt for publicly traded bank holding companies (BHCs). We find that both domestic geographic diversification of deposits and diversification of assets lead to a lower bond yield-spread....