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 …
Cybersecurity risk and corporate innovation
G Lattanzio, Y Ma - Journal of Corporate Finance, 2023 - Elsevier
Using a text-based metric of firms' ex-ante exposure to cybersecurity risk, we document that
the rise of cyber threats is redesigning corporate innovation and appropriation strategies. As …
the rise of cyber threats is redesigning corporate innovation and appropriation strategies. As …
Retail bond investors and credit ratings
Using comprehensive data on US corporate bond trades since 2002, we find evidence that
retail bond investors overrely on untimely credit ratings to their financial detriment …
retail bond investors overrely on untimely credit ratings to their financial detriment …
Trade secret protection and product market dynamics
D Bradley, D Hu, X Yuan, C Zhang - Journal of Corporate Finance, 2023 - Elsevier
We exploit the staggered state-level enactment of the Uniform Trade Secret Act (UTSA) to
examine the impact of intellectual property (IP) protection on product market dynamics. We …
examine the impact of intellectual property (IP) protection on product market dynamics. We …
Direct flights and cross-border mergers & acquisitions
Prior evidence indicates that proximity increases investments resulting in stronger economic
growth. The introduction of a non-stop direct flight between two locations in different …
growth. The introduction of a non-stop direct flight between two locations in different …
Trade secrets laws and technology spillovers
Y Wang - Research Policy, 2023 - Elsevier
This article examines whether and to what extent the Uniform Trade Secrets Act (UTSA)
affects technology spillovers between focal firms (ie, receivers of spillovers) and peers (ie …
affects technology spillovers between focal firms (ie, receivers of spillovers) and peers (ie …
[PDF][PDF] Trade Secrets Protection and Foreign Investment
I Kandilov, A Leblebcioglu - 2020 - freit.org
We study the role of trade secrets protection in determining the incidence and intensity of
foreign investment flows into the US manufacturing sector. We find states that adopt the …
foreign investment flows into the US manufacturing sector. We find states that adopt the …
[PDF][PDF] Trade Secret Impairments
A Michaelides, A Milidonis, V Ryabinin… - Available at …, 2024 - researchgate.net
Intangible capital plays a crucial role in economic growth and impacts firm value. Trade
secrets form a key component of intangible capital, yet little is known about their market …
secrets form a key component of intangible capital, yet little is known about their market …
Inalienable Human Capital and Inevitable Corporate Payouts
We highlight that the inalienable nature of human capital can crucially determine the division
of economic gains between shareholders and other counterparts in view of corporate …
of economic gains between shareholders and other counterparts in view of corporate …
Trade secrets protection and stock price crash risk
D Hu, E Lee, B Li - Financial Review, 2023 - Wiley Online Library
This paper provides evidence that the trade secrets protection increases stock price crash
risk. Using a quasi‐experimental setting with the Uniform Trade Secrets Act (UTSA), we find …
risk. Using a quasi‐experimental setting with the Uniform Trade Secrets Act (UTSA), we find …