We analyze equilibrium leverage dynamics in a dynamic tradeoff model when the firm is unable to commit to a leverage... Read More
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We study the effect of trading costs on information diffusion and information acquisition in financial markets. For a given precision... Read More
We study the effects of introducing competition for CEOs, assuming that the talent of CEOs is not observable and that... Read More
Proxy advisors play an important role by providing investors with research and recommendations on how to vote their shares. This... Read More
In many cases, buyers are not fully informed about their valuations and rely on the advice of biased experts. For... Read More