This paper studies the effects of anti-takeover provisions on takeovers and identifies the channels through which they create or destroy value for firms, as well as for the economy as a whole. We provide causal estimates – that also deal with the endogenous selection of targets – showing...

This paper investigates whether social identity considerations-through beliefs and normsdrive women's occupational choices. We implement two field experiments with potential applicants to a five-month software-coding program offered to women from low-income backgrounds in Peru and Mexico. When...

Once successful, most companies fall victim to strategic rigidity. The more the business model is attuned to the existing environment, the harder it is to reform it when conditions change. In response to this renewal challenge, the “agile organization” has been hailed as a way to keep...

This paper shows that top management structures in large US firms radically changed since the mid-1980s. While the number of managers reporting directly to the CEO doubled, the growth was driven primarily by functional managers rather than general managers. Using panel data on senior management...

This paper estimates the effect of corporate governance provisions on shareholder value and long-term outcomes in S&P1500 firms. We apply a regression discontinuity design to shareholder votes on governance proposals in annual meetings. A close-call vote around the majority threshold is akin to...