We argue and demonstrate empirically that a firm's institutional and legal context has first‐
order effects in tests that use state antitakeover laws for identification. A priori, the size and …

We examine how equity mispricing affects corporate investment in an international setting.
We find that investment is more sensitive to stock prices for equity-dependent firms than for …

Corporate leverage has decreased markedly in the US since 1992. In contrast to press
coverage of hedge funds increasing debt, increases in institutional investments, primarily by …

We develop a dual-layered agency model to study blockholder monitoring by activist funds
that compete for investor flow. Competition for flow affects the manner in which activist …

We develop a method for extracting “other information” from the articulation between bottom-
line accounting numbers and stock prices. We posit that “other information” captures future …

How do changes to stock price informativeness affect the mix of long-term and short-term
pay? We answer this question using two exogenous shocks to price informativeness: the …

We examine the interaction of internal and external firm-level governance mechanisms with
industry-specific economic conditions to assess when they best serve current shareholders …

L'investissement responsable est une facette de la finance de marché incluant deux
substructions: financière et éthique. Cette thèse cherche à associer ces deux socles, dans …

This paper examines the unintended effects that exchange-traded funds (ETFs) have on the
market through their involvement in stock lending. In competing to keep fees at the lowest …