Blood in the water: The value of antitakeover provisions during market shocks
During market-wide shocks that cause large drops in stock prices, firms with more state-
endorsed antitakeover provisions (ATPs) experience smaller declines in value. Two …
endorsed antitakeover provisions (ATPs) experience smaller declines in value. Two …
Talent market competition and firm growth
How does competition for talent affect firm growth? Combining administrative occupational
employment microdata with job posting data, we construct a novel measure of firms' talent …
employment microdata with job posting data, we construct a novel measure of firms' talent …
Directing the Labor Market: The Impact of Shared Board Members on Employee Flows
Using resume data on over 20 million US workers, we find that the flow of employees
between a pair of firms sharply drops by about 20% when the firms start to share a director …
between a pair of firms sharply drops by about 20% when the firms start to share a director …
How Does Labor Market Mobility Affect Managerial Learning from Competitors' Stock Valuations?
We find that when states enhance the enforceability of noncompete agreements (NCAs), firm
investment becomes more sensitive to in-state competitors' stock valuations, which is …
investment becomes more sensitive to in-state competitors' stock valuations, which is …
Non-Compete Agreements and the Market for Corporate Control
A Golubov, YL Zhong - Available at SSRN 4763837, 2024 - papers.ssrn.com
Non-compete agreements (NCAs) limit outside employment options and, therefore, increase
personal costs of job displacement for managers. Using state-level changes in NCA …
personal costs of job displacement for managers. Using state-level changes in NCA …
[PDF][PDF] Outside employment opportunities and tournament incentives
Y Feng, A De Cesari… - … Incentives: Feng, Yue …, 2023 - paris-december.eu
We find that firms enlarge the executive pay gap when executive mobility is constrained by
more enforceable non-compete agreements. We interpret this finding as evidence that firms …
more enforceable non-compete agreements. We interpret this finding as evidence that firms …
Biting the Bullet: Credible Monitoring by Mutual Fund Families
L Huang, L Ma - Available at SSRN 4440732, 2023 - papers.ssrn.com
We investigate the role of mutual fund families as delegated monitors of their portfolio
managers. Our findings provide evidence that credible monitoring by fund families, in the …
managers. Our findings provide evidence that credible monitoring by fund families, in the …
Knowledge Protection and Strategic Alliances
This paper investigates the impact of knowledge protection on firm strategic alliance (SA)
activities. Our analysis leverages the staggered adoptions and rejections of the inevitable …
activities. Our analysis leverages the staggered adoptions and rejections of the inevitable …
[PDF][PDF] Labor Mobility and Corporate Environmental Performance
VA Dang, N Gao, T Yu - efmaefm.org
Using US plant-level data, we find that corporate emissions decline significantly when labor
mobility increases due to weaker enforcement of covenants not to compete (CNCs) in the …
mobility increases due to weaker enforcement of covenants not to compete (CNCs) in the …