We study how interest alignment between CEOs and corporate boards influences investment efficiency and identify a novel … force behind the benefit of misaligned preferences. Our model entails a CEO who encounters a project, gathers investment …

Using a novel pairwise measure of firms' acquisition of rivals' disclosures, we show that investment opportunities … their products. Our results suggest that rivals' public information, far from being unusable, helps facilitate investment … mechanism that could partly underlie the emerging literature on peer investment effects …

attention. This paper fills that gap by asking how patent acquisitions interact with firm investment policy. I find that patent … more technological expertise and investment opportunities acquire more patents. Patent sales are the dominant type of … contract and maximize investment incentives; patent licenses frequently contain royalties, which induce under-investment …

&D investment decisions. Furthermore, a supplementary test confirms that government ownership has also a positive impact on board … the role of state ownership in R&D investment in China, especially after the most recent wave of privatization, namely …

, the sensitivity of cash to cash flow, and the sensitivity of investment to cash flow all decline significantly, while … investment significantly increases following the acquisition. These effects are stronger in deals more likely associated with …

This paper studies the direct effect of foreign investment on target firm operating performance and growth. Foreign … investment into foreign direct investment and foreign institutional investment reveals that the results are attributable to … institutional investment. The effect is attenuated under weak corporate governance conditions, with foreign investment in business …

This paper provides new evidence on the relationship between internal capital markets and corporate investment by … exploiting an exogenous event and an unique empirical setting. We do so by comparing the investment behavior of Korean business … than non-chaebol firms in the control group in the aftermath of the crisis. This difference in investment behavior does not …