We present novel evidence on the value of cross-border political access. We analyze data on meetings of US multinational enterprises (MNEs) with European Commission (EC) policymakers. Meetings with Commissioners are associated with positive abnormal equity returns. We study channels of value...

I explore the link between collateral and investment by focusing on debt composition (secured versus unsecured). I use a shock to the cost and availability of unsecured debt to show that the decrease in the fraction of unsecured debt in total debt leads to a decrease in investment of 0.35%...

We study how collateral requirements affect corporate policy decisions and present evidence that challenges the trade-off theory between risk management and investment policy due to collateral constraints. We compile a novel dataset on collateral and derivative transactions for all U.S. public...

We present novel evidence on the value of cross-border political access. We analyze data on meetings of US multinational enterprises (MNEs) with European Commission (EC) policymakers. Meetings with Commissioners are associated with positive abnormal equity returns. We study channels of value...