Although corporate finance theory suggests how adverse shocks influence shareholder preferences toward corporate risk-taking and executive compensation, few researchers explore this relationship empirically. We construct a firm-year measure of unexpected shocks to environmental regulatory...

We study the impact of plausibly exogenous global food price shocks on local violence across the African continent. In food-producing areas, higher food prices reduce conflict over the control of territory (what we call "factor conflict") and increase conflict over the appropriation of surplus...