This paper investigates the value of firm political connections to US congressional candidates using a regression discontinuity design. In a sample of close special elections occurring at times unrelated to firm-specific economic events or broader political events, I compare the abnormal returns...

We use the post-IPO market to examine this accuracy of price adjustment to new information. The unique setting of immediate aftermarket allows us to assess subject after the trading has just begun and investors possess little information about stock return properties. They are, therefore, likely...

We study the effect of hedge fund activism on corporate environmental behaviors. Using plant-chemical level data from the EPA, we find that activism campaigns are associated with a 17 percent drop in emissions for chemicals at plants of targeted firms. Campaigns are associated with changes...

Ostensibly passive index funds and ETFs are surprisingly active. A third of these funds exhibit more activeness than the median actively managed fund, as measured by conventional proxies. Using hand-collected prospectus data, we find that "passive" funds offer an increasingly wide assortment of...

Our research expands upon the current model of dominant logic theorized by Prahalad and Bettis (1986), to further enhance the understanding of the process by which dominant logic is formed. Academic literature offers little explanation as to the link between the sources of dominant logic and the...

The perceived increase in corporate political influence has raised concerns that corporations advance policies that benefit capital and harm labor. We examine whether money in politics harms labor using the surprise Supreme Court ruling Citizens United v. FEC (2010), which rendered bans on...

We examine whether corporate money in politics benefits or hurts labor using the 2010 Supreme Court ruling Citizens United, which rendered bans on political election spending unconstitutional. In difference-in-difference analyses, affected states experience increases in both capital and labor...

We examine whether corporate money in politics benefits or hurts labor using the 2010 Supreme Court ruling Citizens United, which rendered bans on political election spending unconstitutional. In difference-in-difference analyses, affected states experience increases in both capital and labor...