This paper studies the effect of the controlling shareholder’s financial background on the corporate financialization. We find that controlling shareholder’s financial background has a significant positive impact on corporate financialization, and the positive impact is more obvious in...

A discussion-based learning approach to corporate finance fundamentalsLessons in Corporate Finance explains the fundamentals of the field in an intuitive way, using a unique Socratic question and answer approach. Written by award-winning professors at M.I.T. and Tufts, this book draws on years...

We use micro data from Orbis on firm level balance sheets and income statements to document that accounting returns for privately held businesses are dispersed, persistent, and negatively correlated with firm equity. We also show that firms experience large, fat-tailed, and partly transitory...