We provide evidence that the deregulation of U.S. state banking markets leads to a significant increase in the relative employment and capital growth of local firms with higher productivity and that this effect is concentrated among young firms. Using financial data for a broad range of firms,...

Using a novel dataset of establishment-level management practices from the U.S. Census Bureau, we show that firms with more specific, formal, frequent, or explicit (i.e., “structured”) management practices tend to acquire establishments with less structured management practices, and...

We test the hypothesis that less transparency in financial disclosures is an undesirable firm attribute that increases the amount of information and unemployment risk that employees bear, resulting in a wage premium. Using establishment-level wage data from the U.S. Census Bureau, we document...

This paper studies how firms' internal organization shapes the impact of international trade. Using establishment level data from the U.S. Census and a difference-in-difference specification, I find that relative to standalone firms, conglomerates are more likely to restructure after trade...

We study how the spillover of peer firms’ litigation risk affects a focal firm’s voluntary disclosure. We find that focal firms facing greater litigation risk spillovers reduce disclosure activities by lowering both the likelihood of issuance and the frequency of management earnings...

Procyclical investment opportunities and labor demand create time series-variation in the importance of labor mobility for corporate investment. Firms located in more mobile labor markets, captured by variation in state courts’ enforcement of covenants not to compete, increase investment rates...

We provide evidence that the deregulation of U.S. state banking markets leads to a significant increase in the relative employment and capital growth of local firms with higher productivity and that this effect is concentrated among young firms. Using financial data for a broad range of firms,...

Using Regulation SHO as natural experiment, we find that work-related injury and illness rates increase significantly at treated firms relative to the control group. The effect is more pronounced for firms in more competitive industries, firms in which labor has low negotiating power with...

This paper studies the causal relationship between proximity and knowledge diffusion by exploiting sudden changes in travel time following the introduction of new flight routes. We find that decreasing travel time between U.S. cities by 20% increases knowledge flow by 0.5%, which corresponds to...

In the absence of discrimination, there should be no wage-productivity differentials as relative wages should be equal to the relative marginal productivity levels of workers. This paper investigates the role of globalization on the structure and evolution of gender differentials in China by...