This paper examines the use of count data-based outcome variables such as corporate patents in empirical corporate finance research. We demonstrate that the common practice of regressing the log of one plus the count on covariates ("LOG1PLUS" regression) produces biased and inconsistent...

We present evidence that financing frictions adversely impact investment in workplace safety, with implications for worker welfare and firm value. Using several identification strategies, we find that injury rates increase with leverage and negative cash flow shocks, and decrease with positive...

This paper presents evidence of a large, persistent decline in establishment-level workplace injury rates after private equity (PE) buyouts of publicly-traded U.S. firms. We also find that firms experience fewer OSHA safety violations after buyouts and that a larger decline in injury rates is...

We study the relation between investment behavior and competitor financial constraints. Using inter-firm patent citations and text-based product market similarities to identify intransitive competitor networks, we find that firms increase investment spending, patenting activity, and...

We show that the acquisition of a startup inventor's first patent has a negative effect on the subsequent productivity of the patent's inventor, leading to 6.7 fewer patents being granted to the inventor over five years. This effect is not due to the inventor focusing on high-quality...

We examine the relationship between access to capital and project choice using data from the capital intensive hydraulic fracturing (fracking) industry. The data allow us to distinguish riskier market-expanding projects from investments in proven markets. We find that private firms more...