This article studies whether knowledge protection affects shareholder value and firms'
investment in knowledge assets using the staggered adoptions and rejections of the …

This paper examines the causal effects of competition on governments' incentives in
decentralizing state-owned enterprises (SOEs). By using the shocks to product market …

We show how private equity (PE) buyouts fuel loan sales and non-bank participation in the
US syndicated loan market. Combining loan-level data from the Shared National Credit …

This paper studies the effects of the oil price shocks on local banks, and the propagation of
the shocks through banks' branching networks. Exposed banks with significant operations in …

We present a model of credit market competition to derive key hypotheses about how
information sharing between banks influences the spatial clustering of their branches. We …

Small businesses are engines of economic growth that are fueled in large part by bank
lending. We examine the roles of technology and regulation in the supply of small business …

We show that lenders join a US commercial credit bureau when information asymmetries
between incumbents and entrants create an adverse selection problem that hinders market …

We examine how information sharing affects lender specialization. Using the introduction of
a US commercial credit bureau, we document that lenders use their comparative advantage …

We examine the effects of bank merger and local market characteristics on local small
business lending. Mergers involving small, in-state acquirers are positively associated with …

Bank credit access represents the opportunity to borrow funds from banks and other
financial institutions. Although theories have been developed on how bank financing affects …