Jordan Martel May 01,2025
Working Paper No.00151-00
How should we expect firms to communicate with their shareholders in the presence of uncertainty? This paper studies a model... Read More
Lorenzo Garlappi , Daniel Andrei May 12,2025
Working Paper No.00152-00
Regulating externalities is particularly challenging in the presence of uncertainty and disagreement among economic agents. Traditional Pigouvian and Coasean approaches... Read More
Yuanyu Qu,Guojun Wang, Lin William Cong (叢林) Nov 21,2024
Working Paper No.00144-00
We present the first piece of empirical evidence on blockchain adoption for environmental monitoring. Using a staggered difference-in-difference (DID) framework,... Read More
Nicolas Figueroa, Nicolas Inostroza Apr 26,2023
Working Paper No.00097-00
A liquidity-constrained asset owner designs an asset-backed security to raise funds from an informed liquidity supplier. Information insensitive securities reduce... Read More
Kostas Koufopoulos (York), Pavel Zryumov , Giulio Trigilia Jul 11,2023
Working Paper No.00106-00
We show that short-term debt in a firm’s optimal capital structure reduces investment under asymmetric information. Investors’ interpretation of underinvestment... Read More
Aydogan Alti, Jonathan Cohn Nov 01,2022
Working Paper No.00083-00
We present a model in which informed experts intermediate in the market for going public by acquiring private firms and... Read More
Batchimeg Sambalaibat Jul 07,2021
Working Paper No.00072-00
I build a search model of bond and credit default swap (CDS) markets with endogenous investor participation and show that... Read More
Francesco Bova, Liyan Yang Jul 06,2018
Working Paper No.00036-00
We develop a model to illustrate that equity-based compensation for non-executive employees and product market decisions are related. When... Read More
Ivan Marinovic , Paul Povel Jul 08,2018
Working Paper No.00041-00
We study the effects of introducing competition for CEOs, assuming that the talent of CEOs is not observable and... Read More
Published: Journal of Accounting and Economics, 2017, 64(1), 1-14