Bai, John (Jianqiu); Massa, Massimo; Wan, Chi; Wang, Yan - 2022
market competition. We find that firms hiring in more competitive labor markets tend to have lower financial leverage. To … establish causality, we exploit the establishment of Amazon HQ2 in Crystal City, Virginia as an exogenous shock to the local … labor market competition, and find results that are consistent with our baseline result. Furthermore, the negative relation …