Beauty has been shown to be valuable in many markets and supposedly can be improved through plastic surgery. This raises the question of how effective plastic surgery is in improving a person’s beauty and economic outcomes. We find empirical evidence that while people improve their facial...

This paper analyses corporate loan guarantees among the Korean chaebol affiliates. Loan guarantees are found to be efficiency-neutral under a set of ideal conditions characterized by perfect and symmetric information, no agency problem, and no governmental interference in private financial...