We are the first to document and study the use of Rule 10b5 1 preset repurchase plans. Though the Rule's original intent was to clarify conditions for enforcing insider trading laws, generally thought to apply to individuals classified as firm insiders, we find strong use of the Rule at the firm...

The economic links between firms created by customer and supplier relationships are critical determinants of those firms' values and actions. We demonstrate that significant trade relationships and indirect economic links incrementally explain which firms are more likely to be involved in...

A common view in the literature is that the director labor market provides an ex post settling-up for past decisions by rewarding CEO ability and actions that are consistent with shareholder interests. In this paper we focus on large CEO acquisition decisions to investigate whether the director...