We examine how the introduction of COVID-19 vaccinations affects business activity and firm performance in the US. A ten percent increase in vaccination rates results in a 6.6 percent increase in establishment customer visits. Difference-in-Differences analysis shows that the effects are causal....

We examine the role of board connections in explaining how the controversial practice of backdating employee stock options spread to a large number of firms across a wide range of industries. The increase in the likelihood that a firm begins to backdate stock options that can be explained by...

Many of the events that trigger clawback provisions are associated with risky corporate policies and variable performance outcomes. We propose and test the hypothesis that clawback provisions motivate managers to reduce firm risk. Panel OLS, GMM-IV, and PSM models all indicate that clawback...

We provide a comprehensive examination of shareholder resolutions to rescind poison pills. We find that pill rescission proposals are more frequent the more negative the market reaction to the initial pill adoption and the lower the insider and unaffiliated block ownership. Votes for such a...