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Gordon M. Phillips

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. J. Carter Braxton & Gordon Phillips & Kyle Herkenhoff, 2019. "Can the Unemployed Borrow? Implications for Public Insurance," 2019 Meeting Papers 323, Society for Economic Dynamics.

    Mentioned in:

    1. How Does Credit Access Affect Job-Search Outcomes and Sorting?
      by Blog Author in Liberty Street Economics on 2020-03-04 12:45:00
    2. Can the Unemployed Borrow? Implications for Public Insurance
      by Christian Zimmermann in NEP-DGE blog on 2018-09-28 09:37:30
  2. J. Carter Braxton & Gordon Phillips & Kyle Herkenhoff, 2018. "Can the Unemployed Borrow? Implications for Public Insurance," 2018 Meeting Papers 564, Society for Economic Dynamics.

    Mentioned in:

    1. How Does Credit Access Affect Job-Search Outcomes and Sorting?
      by Blog Author in Liberty Street Economics on 2020-03-04 12:45:00
    2. Can the Unemployed Borrow? Implications for Public Insurance
      by Christian Zimmermann in NEP-DGE blog on 2018-09-28 09:37:30

Working papers

  1. Utku U. Acikalin & Tolga Caskurlu & Gerard Hoberg & Gordon M. Phillips, 2022. "Intellectual Property Protection Lost and Competition: An Examination Using Machine Learning," NBER Working Papers 30671, National Bureau of Economic Research, Inc.

    Cited by:

    1. Mueller, Clemens, 2023. "Non-Compete Agreements and Labor Allocation Across Product Markets," VfS Annual Conference 2023 (Regensburg): Growth and the "sociale Frage" 277621, Verein für Socialpolitik / German Economic Association.

  2. Gerard Hoberg & Gordon M. Phillips, 2022. "Scope, Scale and Concentration: The 21st Century Firm," NBER Working Papers 30672, National Bureau of Economic Research, Inc.

    Cited by:

    1. Xiang Ding, 2023. "Industry Linkages from Joint Production," Working Papers 23-02, Center for Economic Studies, U.S. Census Bureau.
    2. Damásio, Bruno & Mendonça, Sandro & Silva, Eduardo, 2023. "Developing science and technology – the role of Big Tech," 32nd European Regional ITS Conference, Madrid 2023: Realising the digital decade in the European Union – Easier said than done? 277951, International Telecommunications Society (ITS).

  3. J. Carter Braxton & Kyle F. Herkenhoff & Gordon M. Phillips, 2020. "Can the Unemployed Borrow? Implications for Public Insurance," NBER Working Papers 27026, National Bureau of Economic Research, Inc.

    Cited by:

    1. Naoki Aizawa & Soojin Kim & Serena Rhee, 2020. "Labor Market Screening and the Design of Social Insurance: An Equilibrium Analysis of the Labor Market for the Disabled," NBER Working Papers 27478, National Bureau of Economic Research, Inc.
    2. Kyle F. Herkenhoff, 2018. "The Impact of Consumer Credit Access on Unemployment," NBER Working Papers 25187, National Bureau of Economic Research, Inc.
    3. Serdar Birinci & Kurt Gerrard See, 2018. "How Should Unemployment Insurance vary over the Business Cycle?," 2018 Meeting Papers 69, Society for Economic Dynamics.
    4. J. Carter Braxton & Kyle F. Herkenhoff & Jonathan L. Rothbaum & Lawrence Schmidt, 2021. "Changing Income Risk across the US Skill Distribution: Evidence from a Generalized Kalman Filter," NBER Working Papers 29567, National Bureau of Economic Research, Inc.
    5. Gajendran Raveendranathan & Georgios Stefanidis, 2020. "The Unprecedented Fall in U.S. Revolving Credit," Department of Economics Working Papers 2020-05, McMaster University.
    6. Gajendran Raveendranathan & Kyle Herkenhoff, 2019. "Who Bears the Welfare Costs of Monopoly? The Case of the Credit Card Industry," 2019 Meeting Papers 67, Society for Economic Dynamics.
    7. Satyajit Chatterjee & Dean Corbae & Kyle Dempsey & José-Víctor Ríos-Rull, 2020. "A Quantitative Theory of the Credit Score," Working Papers 770, Federal Reserve Bank of Minneapolis.
    8. Ying Feng & David Lagakos & James E. Rauch, 2018. "Unemployment and Development," Working Papers 2018-083, Human Capital and Economic Opportunity Working Group.
    9. Serdar Birinci & Kurt See, 2019. "Labor Market Responses to Unemployment Insurance: The Role of Heterogeneity," Working Papers 2019-022, Federal Reserve Bank of St. Louis, revised Nov 2021.
    10. Michael Gelman & Dan Silverman & Matthew Shapiro & Shachar Kariv, 2019. "Rational Illiquidity and Excess Sensitivity: Theory and Evidence from Income Tax Withholding and Refunds," 2019 Meeting Papers 542, Society for Economic Dynamics.
    11. Piotr Denderski & Christian A. Stoltenberg, 2021. "On existence of private unemployment insurance with advance information on future job losses," Tinbergen Institute Discussion Papers 21-052/VI, Tinbergen Institute.
    12. Mark Aguiar & Manuel Amador & Cristina Arellano, 2021. "Micro Risks and Pareto Improving Policies with Low Interest Rates," Staff Report 625, Federal Reserve Bank of Minneapolis.
    13. Griffy, Benjamin & Rabinovich, Stanislav, 2023. "Worker selectivity and fiscal externalities from unemployment insurance," European Economic Review, Elsevier, vol. 156(C).
    14. Fernández-Blanco, Javier, 2022. "Unemployment risks and intra-household insurance," Journal of Economic Theory, Elsevier, vol. 203(C).
    15. Michael Gelman & Shachar Kariv & Matthew D. Shapiro & Dan Silverman, 2019. "Rational Illiquidity and Consumption: Theory and Evidence from Income Tax Withholding and Refunds," NBER Working Papers 25757, National Bureau of Economic Research, Inc.
    16. Braxton, John Carter & Chikhale, Nisha & Herkenhoff, Kyle & Phillips, Gordon, 2024. "Intergenerational Mobility and Credit," IZA Discussion Papers 16826, Institute of Labor Economics (IZA).
    17. Raveendranathan, Gajendran, 2020. "Revolving credit lines and targeted search," Journal of Economic Dynamics and Control, Elsevier, vol. 118(C).
    18. Shouyong Shi & Gaston Chaumont, 2017. "Wealth Accumulation, On the Job Search and Inequality," 2017 Meeting Papers 128, Society for Economic Dynamics.
    19. Filipe Correia & Gustavo S. Cortes & Thiago C. Silva, 2021. "Is Corporate Credit Risk Propagated to Employees?," Working Papers Series 551, Central Bank of Brazil, Research Department.
    20. Yannelis, Constantine & Zhang, Anthony Lee, 2023. "Competition and selection in credit markets," Journal of Financial Economics, Elsevier, vol. 150(2).
    21. Rene Chalom & Benjamin Pugsley & Fatih Karahan & Kurt Mitman, 2019. "Liquidity Effects of Unemployment Insurance Benefit Extensions: Evidence from Consumer Credit Data," 2019 Meeting Papers 438, Society for Economic Dynamics.
    22. Sean Hundtofte & Arna Olafsson & Michaela Pagel, 2019. "Credit Smoothing," NBER Working Papers 26354, National Bureau of Economic Research, Inc.
    23. Benjamin S. Griffy, 2021. "Search And The Sources Of Life‐Cycle Inequality," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(4), pages 1321-1362, November.
    24. Brendan Moore & Judith Scott-Clayton, 2019. "The Firm's Role in Displaced Workers' Earnings Losses," NBER Working Papers 26525, National Bureau of Economic Research, Inc.
    25. Horvath, Akos & Kay, Benjamin & Wix, Carlo, 2023. "The COVID-19 shock and consumer credit: Evidence from credit card data," Journal of Banking & Finance, Elsevier, vol. 152(C).
    26. Gajendran Raveendranathan & Georgios Stefanidis, 2022. "Designing “Win-Win” Rate Caps," Department of Economics Working Papers 2022-03, McMaster University.
    27. Akos Horvath & Benjamin S. Kay & Carlo Wix, 2021. "The COVID-19 Shock and Consumer Credit: Evidence from Credit Card Data," Finance and Economics Discussion Series 2021-008, Board of Governors of the Federal Reserve System (U.S.).

  4. Zhangkai Huang & Gordon M. Phillips & Jialun Yang & Yi Zhang, 2020. "Education and Innovation: The Long Shadow of the Cultural Revolution," NBER Working Papers 27107, National Bureau of Economic Research, Inc.

    Cited by:

    1. Qing Wan & Xiaoke Cheng & Kam C. Chan & Shenghao Gao, 2021. "Born to innovate? The birth‐order effect of CEOs on corporate innovation," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(9-10), pages 1846-1888, October.
    2. Meiling Kang & Yucheng Li & Zhongkuang Zhao & Minjuan Zheng & Han Wu, 2022. "Does Human Capital Homogeneously Improve the Corporate Innovation: Evidence from China’s Higher Education Expansion in the Late 1990s," Sustainability, MDPI, vol. 14(19), pages 1-19, September.
    3. Jiekuan Zhang & Yan Zhang, 2023. "Examining the effects of economic growth pressure on green total factor productivity: evidence from China," Economic Change and Restructuring, Springer, vol. 56(6), pages 4309-4337, December.
    4. Yang, Bo & Ma, Fang & Deng, Weihua & Pi, Yang, 2022. "Digital inclusive finance and rural household subsistence consumption in China," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 627-642.
    5. Costa-Font, Joan & Garcia-Hombrados, Jorge & Nici?ska, Anna, 2020. "Long-Lasting Effects of Communist Indoctrination in School: Evidence from Poland," IZA Discussion Papers 13944, Institute of Labor Economics (IZA).
    6. Changrong Wang & Lufeng Gou & Xuemei Li, 2022. "Is Education Beneficial to Environmentally Friendly Behaviors? Evidence from CEOs," IJERPH, MDPI, vol. 19(18), pages 1-21, September.

  5. Vojislav Maksimovic & Gordon M. Phillips & Liu Yang, 2019. "Do Public Firms Respond to Industry Opportunities More Than Private Firms? The Impact of Initial Firm Quality," NBER Working Papers 25634, National Bureau of Economic Research, Inc.

    Cited by:

    1. Feldman, Naomi & Kawano, Laura & Patel, Elena & Rao, Nirupama & Stevens, Michael & Edgerton, Jesse, 2021. "Investment differences between public and private firms: Evidence from U.S. tax returns," Journal of Public Economics, Elsevier, vol. 196(C).
    2. Dougal, Casey & Rettl, Daniel A., 2021. "Firm listing status and the investment home bias," Journal of Corporate Finance, Elsevier, vol. 71(C).
    3. Borisov, Alexander & Ellul, Andrew & Sevilir, Merih, 2021. "Access to public capital markets and employment growth," Journal of Financial Economics, Elsevier, vol. 141(3), pages 896-918.
    4. N. M. Rozanova, 2021. "Methodological Issues of Modern Competition Policy," Studies on Russian Economic Development, Springer, vol. 32(5), pages 492-498, September.

  6. Laurent Frésard & Gerard Hoberg & Gordon M. Phillips, 2019. "Innovation Activities and Integration through Vertical Acquisitions," Swiss Finance Institute Research Paper Series 19-36, Swiss Finance Institute.

    Cited by:

    1. Marco Testoni, 2022. "The market value spillovers of technological acquisitions: Evidence from patent‐text analysis," Strategic Management Journal, Wiley Blackwell, vol. 43(5), pages 964-985, May.
    2. Chris Florackis & Christodoulos Louca & Roni Michaely & Michael Weber, 2020. "Cybersecurity Risk," NBER Working Papers 28196, National Bureau of Economic Research, Inc.
    3. William Grieser & James LeSage & Morad Zekhnini, 2022. "Industry Networks and the Geography of Firm Behavior," Management Science, INFORMS, vol. 68(8), pages 6163-6183, August.
    4. Donald E. Bowen & Laurent Frésard & Gerard Hoberg, 2023. "Rapidly Evolving Technologies and Startup Exits," Management Science, INFORMS, vol. 69(2), pages 940-967, February.
    5. (Jennifer) Wu, Szu-Yin & Chung, Kee H., 2019. "Corporate innovation, likelihood to be acquired, and takeover premiums," Journal of Banking & Finance, Elsevier, vol. 108(C).
    6. Xing, Fei & Hai, Mengdie & Cai, Jiayao, 2023. "Network centrality and technology acquisitions: Evidence from China's listed business groups," Economic Modelling, Elsevier, vol. 120(C).
    7. Yu, Zhen & Li, Yuankun & Ouyang, Ziyi, 2021. "Economic policy uncertainty, hold-up risk and vertical integration: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 68(C).
    8. Kovach, Jeremy J. & Swink, Morgan & Rodriguez, Mauricio, 2023. "A novel measure of firm-level production outsourcing," International Journal of Production Economics, Elsevier, vol. 263(C).
    9. Bruno Pellegrino, 2023. "Product Differentiation and Oligopoly: A Network Approach," CESifo Working Paper Series 10244, CESifo.
    10. Justin Hung Nguyen & Buhui Qiu, 2022. "The effect of skilled labor intensity on corporate dividend payouts," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(5-6), pages 963-1010, May.
    11. Sertsios, Giorgo, 2020. "Corporate finance, industrial organization, and organizational economics," Journal of Corporate Finance, Elsevier, vol. 64(C).
    12. Dasgupta, Sudipto & Chen, Chen & Huynh, Thanh & Xia, Ying, 2020. "Product Market Competition and the Relocation of Economic Activity: Evidence from the Supply Chain," CEPR Discussion Papers 15056, C.E.P.R. Discussion Papers.
    13. Hu, Xiaoxue & Li, Dongxu, 2022. "Do horizontal mergers affect rivals’ cash holdings?," International Review of Economics & Finance, Elsevier, vol. 82(C), pages 275-298.
    14. Dewally, Michaël & Gordon, Rachel, 2022. "Financial impact of partnerships on hospitality firms," Annals of Tourism Research, Elsevier, vol. 95(C).
    15. Dazhong Wu & Michael Tannen & Julius Anyu & Sergey Ivanov & Feng Xu, 2023. "Contract manufacturing, market competition, and labor productivity in US manufacturing industries," Operations Management Research, Springer, vol. 16(1), pages 377-390, March.
    16. Steffen Runge & Christian Schwens & Matthias Schulz, 2022. "The invention performance implications of coopetition: How technological, geographical, and product market overlaps shape learning and competitive tension in R&D alliances," Strategic Management Journal, Wiley Blackwell, vol. 43(2), pages 266-294, February.
    17. Gopalan, Radhakrishnan & Gormley, Todd A. & Kalda, Ankit, 2021. "It’s not so bad: Director bankruptcy experience and corporate risk-taking," Journal of Financial Economics, Elsevier, vol. 142(1), pages 261-292.
    18. Huang, Minjie & Kubick, Thomas R. & Tseng, Kevin, 2021. "Technology spillovers and the duration of executive compensation," Journal of Banking & Finance, Elsevier, vol. 131(C).

  7. Kyle Herkenhoff & Jeremy Lise & Guido Menzio & Gordon Phillips, 2018. "Production and Learning in Teams," Working Papers 2018-088, Human Capital and Economic Opportunity Working Group.

    Cited by:

    1. Bobba, Matteo & Flabbi, Luca & Levy Algazi, Santiago & Tejada, Mauricio, 2019. "Labor Market Search, Informality, and On-The-Job Human Capital Accumulation," IZA Discussion Papers 12091, Institute of Labor Economics (IZA).
    2. Axel Anderson & Lones Smith, 2024. "The Comparative Statics of Sorting," American Economic Review, American Economic Association, vol. 114(3), pages 709-751, March.
    3. Job Boerma & Aleh Tsyvinski & Alexander P. Zimin, 2021. "Sorting with Teams," Papers 2109.02730, arXiv.org, revised Nov 2023.
    4. Nix, Emily, 2020. "A researcher’s guide to the Swedish compulsory school reform," Working Paper Series 2020:14, IFAU - Institute for Evaluation of Labour Market and Education Policy.
    5. Fatih Karahan & Serdar Ozkan & Jae Song, 2019. "Anatomy of Lifetime Earnings Inequality: Heterogeneity in Job Ladder Risk vs. Human Capital," Staff Reports 908, Federal Reserve Bank of New York.
    6. Sohail, Faisal, 2021. "From employee to entrepreneur: Learning, employer size, and spinout dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 133(C).
    7. Paolo Martellini & Guido Menzio & Ludo Visschers, 2021. "Revisiting the Hypothesis of High Discounts and High Unemployment," The Economic Journal, Royal Economic Society, vol. 131(637), pages 2203-2232.
    8. Xiao, Pengpeng, 2021. "Wage and Employment Discrimination by Gender in Labor Market Equilibrium," Working Papers 144, VATT Institute for Economic Research.
    9. Stephane Bonhomme, 2021. "Teams: Heterogeneity, Sorting, and Complementarity," Papers 2102.01802, arXiv.org.
    10. Moscelli, G.; & Sayli, M.; & Mello, M.;, 2022. "Staff engagement, coworkers’ complementarity and employee retention: Evidence from English NHS hospitals," Health, Econometrics and Data Group (HEDG) Working Papers 22/25, HEDG, c/o Department of Economics, University of York.
    11. Braun, Martin & Verdier, Valentin, 2023. "Estimation of spillover effects with matched data or longitudinal network data," Journal of Econometrics, Elsevier, vol. 233(2), pages 689-714.
    12. Lochner, Benjamin & Schulz, Bastian, 2020. "Firm productivity, wages, and sorting," IAB-Discussion Paper 202004, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    13. Ji, Yan, 2021. "Job Search under Debt: Aggregate Implications of Student Loans," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 741-759.
    14. Schivardi, Fabiano & Sauvagnat, Julien, 2020. "Are Executives in Short Supply? Evidence from Deaths' Events," CEPR Discussion Papers 14334, C.E.P.R. Discussion Papers.
    15. Stéphane Bonhomme, 2021. "Selection on Welfare Gains: Experimental Evidence from Electricity Plan Choice," Working Papers 2021-15, Becker Friedman Institute for Research In Economics.
    16. Victoria Gregory, 2020. "Firms as Learning Environments: Implications for Earnings Dynamics and Job Search," Working Papers 2020-036, Federal Reserve Bank of St. Louis, revised Sep 2023.
    17. Enzo Brox & Michael Lechner, 2024. "Teamwork and Spillover Effects in Performance Evaluations," Papers 2403.15200, arXiv.org.
    18. Benjamin S. Griffy, 2021. "Search And The Sources Of Life‐Cycle Inequality," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(4), pages 1321-1362, November.
    19. Moscelli, Giuseppe & Sayli, Melisa & Mello, Marco, 2022. "Staff Engagement, Coworkers' Complementarity and Employee Retention: Evidence from English NHS Hospitals," IZA Discussion Papers 15638, Institute of Labor Economics (IZA).

  8. Kyle Herkenhoff & Gordon Phillips & Jeremy Lise & guido menzio, 2018. "Worker Mobility and the Diffusion of Knowledge," 2018 Meeting Papers 457, Society for Economic Dynamics.

    Cited by:

    1. Gregor Jarosch & Ezra Oberfield & Esteban Rossi‐Hansberg, 2021. "Learning From Coworkers," Econometrica, Econometric Society, vol. 89(2), pages 647-676, March.
    2. Tania Babina & Sabrina T. Howell, 2018. "Entrepreneurial Spillovers from Corporate R&D," NBER Working Papers 25360, National Bureau of Economic Research, Inc.

  9. Kyle Herkenhoff & Gordon Phillips & Ethan Cohen-Cole, 2017. "The Impact of Consumer Credit Access on Employment, Earnings, and Entrepreneurship," Working Papers 2017-011, Human Capital and Economic Opportunity Working Group.

    Cited by:

    1. Florian LEON, 2018. "Long-Term Finance and Entrepreneurship," DEM Discussion Paper Series 18-01, Department of Economics at the University of Luxembourg.
    2. Dean Corbae & Andy Glover, 2018. "Employer Credit Checks: Poverty Traps versus Matching Efficiency," Working Papers 2018-063, Human Capital and Economic Opportunity Working Group.
    3. Serdar Birinci & Kurt Gerrard See, 2018. "How Should Unemployment Insurance vary over the Business Cycle?," 2018 Meeting Papers 69, Society for Economic Dynamics.
    4. Gajendran Raveendranathan & Kyle Herkenhoff, 2019. "Who Bears the Welfare Costs of Monopoly? The Case of the Credit Card Industry," 2019 Meeting Papers 67, Society for Economic Dynamics.
    5. Jonathan Fisher, 2017. "Who Files for Personal Bankruptcy in the United States?," Working Papers 17-54, Center for Economic Studies, U.S. Census Bureau.
    6. Carlos Madeira, 2022. "The double impact of deep social unrest and a pandemic: Evidence from Chile," Working Papers Central Bank of Chile 952, Central Bank of Chile.
    7. Moshe A. Barach & John J. Horton, 2020. "How Do Employers Use Compensation History?: Evidence From a Field Experiment," NBER Working Papers 26627, National Bureau of Economic Research, Inc.
    8. Jean-Noël Barrot & Erik Loualiche & Matthew Plosser & Julien Sauvagnat, 2017. "Import competition and household debt," Staff Reports 821, Federal Reserve Bank of New York.
    9. Marco Di Maggio & Ankit Kalda & Vincent Yao, 2019. "Second Chance: Life without Student Debt," NBER Working Papers 25810, National Bureau of Economic Research, Inc.
    10. Luojia Hu & Xing Huang & Andrei Simonov, 2020. "Credit Score Doctors," Working Paper Series WP-2020-07, Federal Reserve Bank of Chicago.
    11. Mi Luo & Simon Mongey, 2019. "Assets and Job Choice: Student Debt, Wages, and Job Satisfaction," 2019 Meeting Papers 1220, Society for Economic Dynamics.
    12. Daphne Chen & Jake Zhao, 2016. "The Impact of Personal Bankruptcy on Labor Supply Decisions," Department of Economics Working Papers 16-01, Stony Brook University, Department of Economics.
    13. Will Dobbie & Paul Goldsmith-Pinkham & Neale Mahoney & Jae Song, 2016. "Bad Credit, No Problem? Credit and Labor Market Consequences of Bad Credit Reports," Working Papers 605, Princeton University, Department of Economics, Industrial Relations Section..
    14. Carlos Madeira, 2020. "The impact of information laws on consumer credit access: evidence from Chile," Working Papers Central Bank of Chile 873, Central Bank of Chile.
    15. Kyle Herkenhoff & Gordon Phillips & Ethan Cohen-Cole, 2017. "How Credit Constraints Impact Job Finding Rates, Sorting & Aggregate Output," Working Papers 2017-012, Human Capital and Economic Opportunity Working Group.
    16. Tal Gross & Matthew J. Notowidigdo & Jialan Wang, 2016. "The Marginal Propensity to Consume Over the Business Cycle," NBER Working Papers 22518, National Bureau of Economic Research, Inc.
    17. Andres Liberman & Christopher A. Neilson & Luis Opazo & Seth Zimmerman, 2019. "Equilibrium Effects of Asymmetric Information on Consumer Credit Markets," Working Papers 2019-7, Princeton University. Economics Department..
    18. James C. Cox & Daniel Kreisman & Susan Dynarski, 2018. "Designed to Fail: Effects of the Default Option and Information Complexity on Student Loan Repayment," Experimental Economics Center Working Paper Series 2018-04, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University, revised Mar 2020.
    19. Mi Luo & Simon Mongey, 2019. "Assets and Job Choice: Student Debt, Wages and Amenities," NBER Working Papers 25801, National Bureau of Economic Research, Inc.
    20. Kyle Dempsey & Felicia Ionescu, 2021. "Lending Standards and Borrowing Premia in Unsecured Credit Markets," Finance and Economics Discussion Series 2021-039, Board of Governors of the Federal Reserve System (U.S.).
    21. Bettinger, Eric & Kremer, Michael & Kugler, Maurice & Medina-Durango, Carlos Alberto & Posso-Suárez, Christian Manuel & Saavedra, Juan Esteban, 2019. "School Vouchers, Labor Markets and Vocational Education," Working papers 14, Red Investigadores de Economía.
    22. Mariarosaria Agostino & Lucia Errico & Sandro Rondinella & Francesco Trivieri, 2022. "Do cooperative banks matter for new business creation? Evidence on Italian manufacturing industry," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 93(3), pages 637-675, September.
    23. Sarah Miller & Cindy K. Soo, 2020. "Does Increasing Access to Formal Credit Reduce Payday Borrowing?," NBER Working Papers 27783, National Bureau of Economic Research, Inc.
    24. Cai, Dongliang & Song, Quanyun & Ma, Shuang & Dong, Yang & Xu, Qiuhua, 2018. "The relationship between credit constraints and household entrepreneurship in China," International Review of Economics & Finance, Elsevier, vol. 58(C), pages 246-258.
    25. Tuomas Takalo, 2019. "Regulation of short-term consumer credits," Journal of Banking Regulation, Palgrave Macmillan, vol. 20(4), pages 348-354, December.
    26. Ballance, Joshua & Clifford, Robert & Shoag, Daniel, 2020. "“No more credit score”: Employer credit check bans and signal substitution," Labour Economics, Elsevier, vol. 63(C).
    27. Steven J. Davis & John C. Haltiwanger, 2019. "Dynamism Diminished: The Role of Housing Markets and Credit Conditions," NBER Working Papers 25466, National Bureau of Economic Research, Inc.
    28. Andres Liberman & Christopher Neilson & Luis Opazo & Seth Zimmerman, 2018. "The Equilibrium Effects of Information Deletion: Evidence from Consumer Credit Markets," NBER Working Papers 25097, National Bureau of Economic Research, Inc.

  10. Vojislav Maksimovic & Gordon M. Phillips & Liu Yang, 2017. "Do Public Firms Respond to Investment Opportunities More than Private Firms? The Impact of Initial Firm Quality," NBER Working Papers 24104, National Bureau of Economic Research, Inc.

    Cited by:

    1. Abdulla, Yomna & Dang, Viet Anh & Khurshed, Arif, 2020. "Suppliers' listing status and trade credit provision," Journal of Corporate Finance, Elsevier, vol. 60(C).

  11. Gordon M. Phillips & Alexei Zhdanov, 2017. "Venture Capital Investments and Merger and Acquisition Activity Around the World," NBER Working Papers 24082, National Bureau of Economic Research, Inc.

    Cited by:

    1. Pavlova, Elitsa & Signore, Simone, 2021. "The European venture capital landscape: An EIF perspective. Volume VI: The impact of VC on the exit and innovation outcomes of EIF-backed start-ups," EIF Working Paper Series 2021/70, European Investment Fund (EIF).
    2. Nguyen, Giang & Vo, Vinh, 2021. "Asset liquidity and venture capital investment," Journal of Corporate Finance, Elsevier, vol. 69(C).
    3. Kraemer-Eis, Helmut & Botsari, Antonia & Gvetadze, Salome & Lang, Frank & Torfs, Wouter, 2021. "European Small Business Finance Outlook 2021," EIF Working Paper Series 2021/75, European Investment Fund (EIF).
    4. Swaminathan Balasubramaniam & Armando Gomes & SangMok Lee, 2019. "Mergers and Acquisitions with Private Equity Intermediation," 2019 Meeting Papers 1121, Society for Economic Dynamics.
    5. Babina, Tania & Bahaj, Saleem & Buchak, Greg & De Marco, Filippo & Foulis, Angus & Gornall, Will & Mazzola, Francesco & Yu, Tong, 2024. "Customer data access and fintech entry: early evidence from open banking," Bank of England working papers 1059, Bank of England.

  12. Kyle Herkenhoff & Gordon Phillips & Ethan Cohen-Cole, 2016. "How Credit Constraints Impact Job Finding Rates, Sorting & Aggregate Output," Working Papers 16-25, Center for Economic Studies, U.S. Census Bureau.

    Cited by:

    1. Kyle Herkenhoff & Lee Ohanian, 2019. "The Impact of Foreclosure Delay on U.S. Employment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 31, pages 63-83, January.
    2. Luo, Yu & Peng, Yuchao & Zeng, Lianyun, 2021. "Digital financial capability and entrepreneurial performance," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 55-74.
    3. Dean Corbae & Andy Glover, 2018. "Employer Credit Checks: Poverty Traps versus Matching Efficiency," Working Papers 2018-063, Human Capital and Economic Opportunity Working Group.
    4. Stephanie de Mel, 2020. "A Job Worth Waiting for: Parental Wealth and Youth Unemployment in Ghana," IFS Working Papers W20/21, Institute for Fiscal Studies.
    5. Kristle Romero Cortes & Andrew Glover & Murat Tasci, 2018. "The Unintended Consequences of Employer Credit Check Bans on Labor and Credit Markets," Working Papers (Old Series) 1625, Federal Reserve Bank of Cleveland.
    6. Gerards, Ruud & Welters, Riccardo, 2022. "Job search in the presence of a stressor: Does financial hardship change the effectiveness of job search?," Journal of Economic Psychology, Elsevier, vol. 90(C).
    7. Kristle Romero Cortes & Andrew Glover & Murat Tasci, 2020. "The Unintended Consequences of Employer Credit Check Bans for Labor Markets," Research Working Paper RWP 20-04, Federal Reserve Bank of Kansas City.
    8. Jennifer Brown & David A. Matsa, 2016. "Locked in by Leverage: Job Search during the Housing Crisis," NBER Working Papers 22929, National Bureau of Economic Research, Inc.
    9. Quinn, Simon & Caria, Stefano & Gordon, Grant & Kasy, Maximilian & Shami, Soha & Teytelboym, Alexander, 2020. "An Adaptive Targeted Field Experiment: Job Search Assistance for Refugees in Jordan," CEPR Discussion Papers 15359, C.E.P.R. Discussion Papers.
    10. Yan Ji, 2017. "Job Search under Debt: Aggregate Implications of Student Loans," 2017 Meeting Papers 222, Society for Economic Dynamics.
    11. Benjamin Griffy, 2018. "Borrowing Constraints, Search, and Life-Cycle Inequality," Discussion Papers 18-01, University at Albany, SUNY, Department of Economics.
    12. Christina Patterson, 2019. "The Matching Multiplier and the Amplification of Recessions," 2019 Meeting Papers 95, Society for Economic Dynamics.
    13. J. Carter Braxton & Kyle F. Herkenhoff & Gordon M. Phillips, 2020. "Can the Unemployed Borrow? Implications for Public Insurance," NBER Working Papers 27026, National Bureau of Economic Research, Inc.
    14. Braxton, John Carter & Chikhale, Nisha & Herkenhoff, Kyle & Phillips, Gordon, 2024. "Intergenerational Mobility and Credit," IZA Discussion Papers 16826, Institute of Labor Economics (IZA).
    15. Girum Abebe & Stefano Caria & Marcel Fafchamps & Paolo Falco & Simon Franklin & Simon Quinn, 2017. "Anonymity or Distance? Job Search and Labour Market Exclusion in a Growing African City," SERC Discussion Papers 0224, Centre for Economic Performance, LSE.
    16. Morten Grindaker & Andreas R. Kostøl & Kasper Roszbach, 2021. "Executive Labor Market Frictions, Corporate Bankruptcy and CEO Careers," Working Paper 2021/15, Norges Bank.
    17. Shouyong Shi & Gaston Chaumont, 2017. "Wealth Accumulation, On the Job Search and Inequality," 2017 Meeting Papers 128, Society for Economic Dynamics.
    18. Peter Ganong & Pascal J. Noel, 2019. "Consumer Spending During Unemployment: Positive and Normative Implications," NBER Working Papers 25417, National Bureau of Economic Research, Inc.
    19. James C. Cox & Daniel Kreisman & Susan Dynarski, 2018. "Designed to Fail: Effects of the Default Option and Information Complexity on Student Loan Repayment," Experimental Economics Center Working Paper Series 2018-04, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University, revised Mar 2020.
    20. Randall Wright & Philipp Kircher & Benoit Julîen & Veronica Guerrieri, 2017. "Directed Search: A Guided Tour," NBER Working Papers 23884, National Bureau of Economic Research, Inc.
    21. Leo Kaas & Etienne Lalé & Nawid Siassi, 2023. "Job Ladder and Wealth Dynamics in General Equilibrium," CESifo Working Paper Series 10847, CESifo.
    22. Fos, Vyacheslav & Hamdi, Naser & Kalda, Ankit & Nickerson, Jordan, 2019. "Gig-Labor: Trading Safety Nets for Steering Wheels," CEPR Discussion Papers 13885, C.E.P.R. Discussion Papers.
    23. Marieke Bos & Emily Breza & Andres Liberman, 2018. "The Labor Market Effects of Credit Market Information," The Review of Financial Studies, Society for Financial Studies, vol. 31(6), pages 2005-2037.
    24. Levander, Mats, 2019. "Financial Buffers, Unemployment Duration and Replacement Labor Income," Working Paper Series 379, Sveriges Riksbank (Central Bank of Sweden).
    25. Ruud Gerards & Riccardo Welters, 2020. "Liquidity Constraints, Unemployed Job Search and Labour Market Outcomes," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(3), pages 625-646, June.
    26. Benjamin S. Griffy, 2021. "Search And The Sources Of Life‐Cycle Inequality," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(4), pages 1321-1362, November.
    27. Jiyeon Kim, 2019. "Skill-Biased Technological Change, Inequality, and the Role of Retraining," Working Paper 7116, Department of Economics, University of Pittsburgh.

  13. John (Jianqiu) Bai & Daniel Carvalho & Gordon Phillips*, 2016. "The Impact of Bank Credit on Labor Reallocation and Aggregate Industry Productivity," Working Papers 16-26, Center for Economic Studies, U.S. Census Bureau.

    Cited by:

    1. Martina Jašová & Caterina Mendicino & Ettore Panetti & José-Luis Peydró & Dominik Supera, 2022. "Monetary Policy, Labor Income Redistribution and the Credit Channel: Evidence from Matched Employer-Employee and Credit Registers," Working Papers 1338, Barcelona School of Economics.
    2. Bircan, Çağatay & Saka, Orkun, 2019. "Lending cycles and real outcomes: Costs of political misalignment," BOFIT Discussion Papers 1/2019, Bank of Finland Institute for Emerging Economies (BOFIT).
    3. Hu, Yiming & Xu, Mingxia, 2021. "Xi's anti-corruption campaign and the speed of capital structure adjustment," Pacific-Basin Finance Journal, Elsevier, vol. 65(C).
    4. Filippo Mezzanotti & Timothy Simcoe, 2023. "Innovation and Appropriability: Revisiting the Role of Intellectual Property," NBER Working Papers 31428, National Bureau of Economic Research, Inc.
    5. Lai, Shaojie & Chen, Lihan & Wang, Qing Sophie & Anderson, Hamish D., 2023. "Bank competition and corporate employment: Evidence from the geographic distribution of bank branches in China," Journal of Banking & Finance, Elsevier, vol. 154(C).
    6. Natalie Bau & Adrien Matray, 2020. "Misallocation and Capital Market Integration: Evidence from India," Working Papers 263, Princeton University, Department of Economics, Center for Economic Policy Studies..
    7. Çağatay Bircan & Orkun Saka, 2021. "Lending Cycles and Real Outcomes: Costs of Political Misalignment," The Economic Journal, Royal Economic Society, vol. 131(639), pages 2763-2796.
    8. Bose, Udichibarna & Mallick, Sushanta & Tsoukas, Serafeim, 2020. "Does easing access to foreign financing matter for firm performance?," Journal of Corporate Finance, Elsevier, vol. 64(C).
    9. Atif Mian & Amir Sufi & Emil Verner, 2020. "How Does Credit Supply Expansion Affect the Real Economy? The Productive Capacity and Household Demand Channels," Journal of Finance, American Finance Association, vol. 75(2), pages 949-994, April.
    10. Natalie Bau & Adrien Matray, 2020. "Misallocation and Capital Market Integration: Evidence from India," Working Papers 2020-31, Princeton University. Economics Department..
    11. Bulent Unel, 2019. "Effects of US Banking Deregulation on Unemployment Dynamics," Departmental Working Papers 2019-04, Department of Economics, Louisiana State University.
    12. Liberti, José & Sturgess, Jason & Sutherland, Andrew, 2022. "How voluntary information sharing systems form: Evidence from a U.S. commercial credit bureau," Journal of Financial Economics, Elsevier, vol. 145(3), pages 827-849.
    13. Dinger, Valeriya & Erman, Lisardo & te Kaat, Daniel Marcel, 2022. "Bank bailouts and economic growth: Evidence from cross-country, cross-industry data," Journal of Financial Stability, Elsevier, vol. 60(C).
    14. Matray, Adrien, 2020. "Misallocation and Capital Market Integration: Evidence From India," CEPR Discussion Papers 14282, C.E.P.R. Discussion Papers.
    15. Kim, Mee Jung & Lee, Kyung Min & Brown, J. David & Earle, John S., 2021. "Black Entrepreneurs, Job Creation, and Financial Constraints," IZA Discussion Papers 14403, Institute of Labor Economics (IZA).
    16. Howes, Cooper, 2022. "Why does structural change accelerate in recessions? The credit reallocation channel," Journal of Financial Economics, Elsevier, vol. 144(3), pages 933-952.
    17. Patrick Behr & Lars Norden & Raquel Oliveira, 2020. "Labor and Finance: the effect of bank relationships," Working Papers Series 534, Central Bank of Brazil, Research Department.
    18. Xiang, Yitian & Cui, Haotian & Bi, Yunxiao, 2023. "The impact and channel effects of banking competition and government intervention on carbon emissions: Evidence from China," Energy Policy, Elsevier, vol. 175(C).
    19. Karakaya, Neslihan & Michalski, Tomasz K. & Örs, Evren, 2022. "Banking integration and growth: Role of banks' previous industry exposure," Journal of Financial Intermediation, Elsevier, vol. 49(C).
    20. John (Jianqiu) Bai, 2021. "Organizational Form and Trade Liberalization: Plant-Level Evidence," Management Science, INFORMS, vol. 67(12), pages 7755-7784, December.
    21. Barbosa, Luciana & Bilan, Andrada & Célérier, Claire, 2019. "Credit supply and human capital: evidence from bank pension liabilities," Working Paper Series 2271, European Central Bank.
    22. Giannetti, Mariassunta & Yu, Xiaoyun & Liao, Guanmin & You, Jiaxing, 2017. "The Externalities of Corruption: Evidence from Entrepreneurial Activity in China," CEPR Discussion Papers 12345, C.E.P.R. Discussion Papers.
    23. Julia Fonseca & Adrien Matray, 2022. "Financial Inclusion, Economic Development, and Inequality: Evidence from Brazil," Working Papers 308, Princeton University, Department of Economics, Center for Economic Policy Studies..
    24. Guler, Ozan & Mariathasan, Mike & Mulier, Klaas & Okatan, Nejat G., 2019. "The Real Effects of Credit Supply: Review, Synthesis, and Future Directions," MPRA Paper 96542, University Library of Munich, Germany.
    25. Bircan, Çağatay & Saka, Orkun, 2021. "Lending cycles and real outcomes: costs of political misalignment," LSE Research Online Documents on Economics 115214, London School of Economics and Political Science, LSE Library.
    26. Berger, Elizabeth A. & Butler, Alexander W. & Hu, Edwin & Zekhnini, Morad, 2021. "Financial integration and credit democratization: Linking banking deregulation to economic growth," Journal of Financial Intermediation, Elsevier, vol. 45(C).
    27. Martínez-Jaramillo, Serafín & Montañez-Enríquez, Ricardo & Ossandon Busch, Matias & Ramos-Francia, Manuel & Rodríguez-Martínez, Anahí & Sánchez-Martínez, Manuel, 2022. "Stress-ridden finance and growth losses: Does financial development break the link?," IWH Discussion Papers 3/2022, Halle Institute for Economic Research (IWH).
    28. Chao Li & Xiangyou Li & Deyong Song & Meng Tian, 2022. "Does a carbon emissions trading scheme spur urban green innovation? Evidence from a quasi-natural experiment in China," Energy & Environment, , vol. 33(4), pages 640-662, June.
    29. (Jianqiu) Bai, John & Mkrtchyan, Anahit, 2023. "What do outside CEOs really do? Evidence from plant-level data," Journal of Financial Economics, Elsevier, vol. 147(1), pages 27-48.
    30. Keuschnigg, Christian & Kogler, Michael, 2020. "The Schumpeterian role of banks: Credit reallocation and capital structure," European Economic Review, Elsevier, vol. 121(C).
    31. Fonseca, Julia & Van Doornik, Bernardus, 2022. "Financial development and labor market outcomes: Evidence from Brazil," Journal of Financial Economics, Elsevier, vol. 143(1), pages 550-568.
    32. Giorgio Barba Navaretti & Anna Cecilia Rosso, 2023. "Access to capital markets and the geography of productivity leaders and laggards," Journal of Regional Science, Wiley Blackwell, vol. 63(1), pages 64-113, January.
    33. Ozan Güler & Mike Mariathasan & Klaas Mulier & Nejat G. Okatan, 2021. "The real effects of banks' corporate credit supply: A literature review," Economic Inquiry, Western Economic Association International, vol. 59(3), pages 1252-1285, July.
    34. Konté,Maty & Kouame,Wilfried Anicet Kouakou & Mensah,Emmanuel Buadi, 2021. "Structural Reforms and Productivity Growth in Developing Countries : Intra- or Inter-Reallocation Channel ?," Policy Research Working Paper Series 9733, The World Bank.
    35. Filipe Correia & Gustavo S. Cortes & Thiago C. Silva, 2021. "Is Corporate Credit Risk Propagated to Employees?," Working Papers Series 551, Central Bank of Brazil, Research Department.
    36. Nirupama Kulkarni & Kanika Mahajan & S.K. Ritadhi, 2023. "Bank Branch Expansions and Capital Investment by Credit Constrained Firms," Working Papers 93, Ashoka University, Department of Economics.
    37. Liu, Xiaoling & Wu, Yuhui & Zhang, Huan, 2023. "Collateral-based monetary policy and corporate employment: Evidence from Medium-term Lending Facility in China," Journal of Corporate Finance, Elsevier, vol. 78(C).
    38. José Azar & Sahil Raina & Martin Schmalz, 2022. "Ultimate ownership and bank competition," Financial Management, Financial Management Association International, vol. 51(1), pages 227-269, March.
    39. Edoardo M. Acabbi & Ettore Panetti & Alessandro Sforza, 2019. "The Financial Channels of Labor Rigidities: Evidence from Portugal," GEE Papers 0138, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Dec 2019.
    40. Khalid ElFayoumi & Anta Ndoye & Miss Sanaa Nadeem & Gregory Auclair, 2018. "Structural Reforms and Labor Reallocation: A Cross-Country Analysis," IMF Working Papers 2018/064, International Monetary Fund.
    41. Dang, Viet Anh & Lee, Edward & Liu, Yangke & Zeng, Cheng, 2022. "Bank deregulation and stock price crash risk," Journal of Corporate Finance, Elsevier, vol. 72(C).
    42. Bircan, Çağatay & Saka, Orkun, 2021. "Lending cycles and real outcomes: costs of political misalignment," LSE Research Online Documents on Economics 118902, London School of Economics and Political Science, LSE Library.
    43. Filippo Mezzanotti & Timothy Simcoe, 2023. "Research and/or Development? Financial Frictions and Innovation Investment," Working Papers 23-39, Center for Economic Studies, U.S. Census Bureau.
    44. Julia Fonseca & Bernardus Van Doornik, 2020. "Financial Development and Labor Markets: evidence from Brazil," Working Papers Series 532, Central Bank of Brazil, Research Department.
    45. Wen, Huwei & Lee, Chien-Chiang & Zhou, Fengxiu, 2021. "Green credit policy, credit allocation efficiency and upgrade of energy-intensive enterprises," Energy Economics, Elsevier, vol. 94(C).
    46. Qinqin Wu & Mengjie Bi & Faiza Siddiqui & Yao Tang, 2023. "Assessing the Impact of Digital Trade on Enterprise Competitiveness: Evidence from Chinese A-Share Listed Companies," Journal of Industry, Competition and Trade, Springer, vol. 23(3), pages 329-362, December.
    47. Liu, Guanchun & Liu, Yuanyuan & Ye, Yongwei & Zhang, Chengsi, 2021. "Collateral menus and corporate employment: Evidence from China's Property Law," Journal of Economic Behavior & Organization, Elsevier, vol. 189(C), pages 686-709.
    48. Atif Mian & Amir Sufi & Emil Verner, 2017. "How do Credit Supply Shocks Affect the Real Economy? Evidence from the United States in the 1980s," NBER Working Papers 23802, National Bureau of Economic Research, Inc.
    49. Francesco Manaresi & Mr. Nicola Pierri, 2019. "Credit Supply and Productivity Growth," IMF Working Papers 2019/107, International Monetary Fund.
    50. Bian, Bo, 2020. "Globally Consistent Creditor Protection, Reallocation, and Productivity," LawFin Working Paper Series 6, Goethe University, Center for Advanced Studies on the Foundations of Law and Finance (LawFin).

  14. Laurent Frésard & Ulrich Hege & Gordon Phillips, 2016. "Extending Industry Specialization through Cross-Border Acquisitions," NBER Working Papers 22848, National Bureau of Economic Research, Inc.

    Cited by:

    1. Zoran Filipovic & Alexander F. Wagner, 2019. "The Intangibles Song in Takeover Announcements: Good Tempo, Hollow Tune," Post-Print hal-04079915, HAL.
    2. Hu, Yichuan & Li, Chang & Qin, Cong, 2020. "The impact of regional financial depth on outbound cross-border mergers and acquisitions," Journal of International Money and Finance, Elsevier, vol. 104(C).
    3. Fan, Haichao & Li, Chang & Xue, Chang & Yu, Miaojie, 2023. "Clan culture and patterns of industrial specialization in China," Journal of Economic Behavior & Organization, Elsevier, vol. 207(C), pages 457-478.
    4. Hanousek, Jan & Flannery, Mark & Shamshur, Anastasiya, 2020. "M&A Activity and the Capital Structure of Target Firms," CEPR Discussion Papers 14911, C.E.P.R. Discussion Papers.
    5. Li, Chang & Wang, Chu & Yang, Lianxing & Chu, Baoju, 2023. "Impact of cultural trade on foreign direct investment: Evidence from China," Emerging Markets Review, Elsevier, vol. 55(C).
    6. Burger, Anže & Hogan, Teresa & Kotnik, Patricia & Rao, Sandeep & Sakinç, Mustafa Erdem, 2023. "Does acquisition lead to the growth of high-tech scale-ups? Evidence from Europe," Research in International Business and Finance, Elsevier, vol. 64(C).
    7. Hsu, Po-Hsuan & Huang, Peng & Humphery-Jenner, Mark & Powell, Ronan, 2021. "Cross-border mergers and acquisitions for innovation," Journal of International Money and Finance, Elsevier, vol. 112(C).
    8. Ron Alquist & Nicolas Berman & Rahul Mukherjee & Linda L. Tesar, 2018. "Financial Constraints, Institutions, and Foreign Ownership," Working Papers halshs-01945577, HAL.
    9. Li, Chang & Yang, Lianxing, 2020. "Import to invest: Impact of cultural goods on cross-border mergers and acquisitions," Economic Modelling, Elsevier, vol. 93(C), pages 354-364.
    10. Alimov, Azizjon & Officer, Micah S., 2017. "Intellectual property rights and cross-border mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 360-377.
    11. Liang, Hao & Renneboog, Luc & Vansteenkiste, Cara, 2017. "Cross-Border Acquisitions and Employee-Engagement," Other publications TiSEM 302b5e09-4d1d-4b32-9d74-7, Tilburg University, School of Economics and Management.
    12. Benjamin Hammer & Heiko Hinrichs & Bernhard Schwetzler, 2018. "Does culture affect the performance of private equity buyouts?," Journal of Business Economics, Springer, vol. 88(3), pages 393-469, May.
    13. Renneboog, Luc & Vansteenkiste, C., 2019. "Failure and Success in Mergers and Acquisitions," Discussion Paper 2019-026, Tilburg University, Center for Economic Research.
    14. Yan Alperovych & Xavier Mouchette, 2020. "Industry Concentration and Venture Capital Flows around the World," Post-Print hal-02567433, HAL.
    15. Cheng-Wei Wu & Jeffrey J. Reuer, 2021. "Effects of R&D Investments and Market Signals on International Acquisitions: Evidence from IPO Firms," JRFM, MDPI, vol. 14(5), pages 1-27, April.
    16. Alperovych, Yan & Cumming, Douglas & Czellar, Veronika & Groh, Alexander, 2021. "M&A rumors about unlisted firms," Journal of Financial Economics, Elsevier, vol. 142(3), pages 1324-1339.
    17. Wang, Yichen & Hu, Jun & Chen, Jia, 2023. "Does Fintech facilitate cross-border M&As? Evidence from Chinese A-share listed firms," International Review of Financial Analysis, Elsevier, vol. 85(C).
    18. Xiangjun Hong & Xian Lin & Laitan Fang & Yuchen Gao & Ruipeng Li, 2022. "Application of Machine Learning Models for Predictions on Cross-Border Merger and Acquisition Decisions with ESG Characteristics from an Ecosystem and Sustainable Development Perspective," Sustainability, MDPI, vol. 14(5), pages 1-27, February.
    19. Ding, Haoyuan & Hu, Yichuan & Li, Chang & Lin, Shu, 2021. "CEO country-specific experience and cross-border mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 69(C).
    20. John (Jianqiu) Bai & Wang Jin & Matthew Serfling, 2022. "Management Practices and Mergers and Acquisitions," Management Science, INFORMS, vol. 68(3), pages 2141-2165, March.
    21. Wagner, Alexander F. & Filipović, Zoran, 2019. "The Intangibles Song in Takeover Announcements: Good Tempo, Hollow Tune," CEPR Discussion Papers 13560, C.E.P.R. Discussion Papers.
    22. Udichibarna Bose, 2023. "Does green transition promote green innovation and technological acquisitions?," Working Papers w202305, Banco de Portugal, Economics and Research Department.
    23. Renneboog, Luc & Vansteenkiste, Cara, 2019. "Failure and success in mergers and acquisitions," Other publications TiSEM 9baa3ffc-67cb-4647-9da5-a, Tilburg University, School of Economics and Management.
    24. Ding, Haoyuan & Fan, Haichao & Li, Chang & Qiu, Larry D., 2023. "The effects of discriminatory protections on cross-border mergers and acquisitions," Journal of Comparative Economics, Elsevier, vol. 51(2), pages 501-523.

  15. Gordon Phillips & Kyle Herkenhoff, 2015. "The Impact of Consumer Credit Constraints on Earnings, Sorting, and Job Finding Rates of Displaced Workers," 2015 Meeting Papers 375, Society for Economic Dynamics.

    Cited by:

    1. Huo, Zhen, 2016. "Financial Frictions, Asset Prices, and the Great Recession," CEPR Discussion Papers 11544, C.E.P.R. Discussion Papers.

  16. S. Katie Moon & Gordon M. Phillips, 2014. "Outside Purchase Contracts, Human Capital and Firm Capital Structure," NBER Working Papers 20579, National Bureau of Economic Research, Inc.

    Cited by:

    1. Luca Di Corato & Michele Moretto & Gianpaolo Rossini, 2016. "Financing ?exibility: the case of outsourcing," "Marco Fanno" Working Papers 0206, Dipartimento di Scienze Economiche "Marco Fanno".
    2. M. Moretto & G. Rossini, 2015. "Vertical flexibility, outsourcing and the financial choices of the firm," Working Papers wp1009, Dipartimento Scienze Economiche, Universita' di Bologna.
    3. Benjamin U. Friedrich & Michal Zator, 2018. "Adaptation to Shocks and The Role of Capital Structure: Danish Exporters During the Cartoon Crisis," Economics Working Papers 2018-12, Department of Economics and Business Economics, Aarhus University.

  17. Gordon Phillips & Giorgo Sertsios, 2014. "Financing Decisions and Product Introductions of Private and Publicly Traded Firms," NBER Working Papers 20578, National Bureau of Economic Research, Inc.

    Cited by:

    1. Viral V. Acharya & Zhaoxia Xu, 2013. "Financial Dependence and Innovation: The Case of Public versus Private Firms," NBER Working Papers 19708, National Bureau of Economic Research, Inc.
    2. Koptyug, Nikita & Persson, Lars & Tåg, Joacim, 2019. "Should We Worry about the Decline of the Public Corporation? A Brief Survey of the Economics and External Effects of the Stock Market," Working Paper Series 1298, Research Institute of Industrial Economics.

  18. Gordon M. Phillips & Alexei Zhdanov, 2012. "R&D and the Incentives from Merger and Acquisition Activity," NBER Working Papers 18346, National Bureau of Economic Research, Inc.

    Cited by:

    1. Shih‐Chu Chou & Yu‐Fang Chu, 2022. "Innovations and earnings non‐synchronicity: evidence from industry M&A activities," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(1), pages 337-367, March.
    2. Poyago-Theotoky, Joanna & Ferrett, Ben, 2012. "Horizontal Agreements and R&D Complementarities: Merger versus RJV," SIRE Discussion Papers 2012-51, Scottish Institute for Research in Economics (SIRE).
    3. Mamun, Abdullah & Mishra, Dev & Zhan, Lei, 2021. "The value of intangible capital transfer in mergers," Journal of Economics and Business, Elsevier, vol. 117(C).
    4. Le, Danh Vinh & Le, Huong Thi Thu & Vo, Lai Van, 2021. "The bright side of product market threats: The case of innovation," International Review of Economics & Finance, Elsevier, vol. 71(C), pages 161-176.
    5. Zoran Filipovic & Alexander F. Wagner, 2019. "The Intangibles Song in Takeover Announcements: Good Tempo, Hollow Tune," Post-Print hal-04079915, HAL.
    6. Bonaime, Alice & Gulen, Huseyin & Ion, Mihai, 2018. "Does policy uncertainty affect mergers and acquisitions?," Journal of Financial Economics, Elsevier, vol. 129(3), pages 531-558.
    7. Joachim Henkel & Thomas Rønde & Marcus Wagner, 2015. "And the winner is-Acquired. Entrepreneurship as a contest yielding radical innovations," Post-Print hal-01738692, HAL.
    8. Lee, Chi-Chuan & Li, Xinrui & Yu, Chin-Hsien & Zhao, Jinsong, 2021. "Does fintech innovation improve bank efficiency? Evidence from China’s banking industry," International Review of Economics & Finance, Elsevier, vol. 74(C), pages 468-483.
    9. Asher Curtis & Sarah McVay & Sara Toynbee, 2020. "The changing implications of research and development expenditures for future profitability," Review of Accounting Studies, Springer, vol. 25(2), pages 405-437, June.
    10. Huang, Guan-Ying & Huang, Henry Hongren & Lee, Chun I, 2020. "Taming the dark side of asset liquidity: The role of short-term debt," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 539-562.
    11. Chen, I-Ju & Hsu, Po-Hsuan & Officer, Micah S. & Wang, Yanzhi, 2020. "The Oscar goes to…: High-tech firms’ acquisitions in response to rivals’ technology breakthroughs," Research Policy, Elsevier, vol. 49(7).
    12. Z. Jun Lin & Shengqiang Liu & Fangcheng Sun, 2017. "The Impact of Financing Constraints and Agency Costs on Corporate R&D Investment: Evidence from China," International Review of Finance, International Review of Finance Ltd., vol. 17(1), pages 3-42, March.
    13. Bostan, Ibrahim & Spatareanu, Mariana, 2018. "Financing innovation through minority acquisitions," International Review of Economics & Finance, Elsevier, vol. 57(C), pages 418-432.
    14. Eichenauer, Vera & Wang, Feicheng, 2024. "Mild deglobalization: Foreign investment screening and cross-border investment," Kiel Working Papers 2265, Kiel Institute for the World Economy (IfW Kiel).
    15. Malcolm Wardlaw, 2020. "Measuring Mutual Fund Flow Pressure as Shock to Stock Returns," Journal of Finance, American Finance Association, vol. 75(6), pages 3221-3243, December.
    16. Fidrmuc, Jana P. & Xia, Chunling, 2019. "M&A deal initiation and managerial motivation," Journal of Corporate Finance, Elsevier, vol. 59(C), pages 320-343.
    17. Signori, Andrea & Vismara, Silvio, 2018. "M&A synergies and trends in IPOs," Technological Forecasting and Social Change, Elsevier, vol. 127(C), pages 141-153.
    18. Elnahas, Ahmed M. & Kim, Dongnyoung, 2017. "CEO political ideology and mergers and acquisitions decisions," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 162-175.
    19. Chatt, Robert & Gustafson, Matthew & Welker, Adam, 2021. "Firing frictions and the U.S. mergers and acquisitions market," Journal of Banking & Finance, Elsevier, vol. 128(C).
    20. Burger, Anže & Hogan, Teresa & Kotnik, Patricia & Rao, Sandeep & Sakinç, Mustafa Erdem, 2023. "Does acquisition lead to the growth of high-tech scale-ups? Evidence from Europe," Research in International Business and Finance, Elsevier, vol. 64(C).
    21. Wang, Rui & Yang, Shijie, 2023. "Credit ratings and firm innovation: Evidence from sovereign downgrades," Journal of Banking & Finance, Elsevier, vol. 148(C).
    22. Bing Guo & Dennis C. Hutschenreiter & David Pérez-Castrillo & Anna Toldrà-Simats, 2023. "Institutional Blockholders and Corporate Innovation," Working Papers 1390, Barcelona School of Economics.
    23. Sai Krishna Kamepalli & Raghuram Rajan & Luigi Zingales, 2020. "Kill Zone," NBER Working Papers 27146, National Bureau of Economic Research, Inc.
      • Zingales, Luigi & Kamepalli, Sai Krishna & Rajan, Raghuram, 2020. "Kill Zone," CEPR Discussion Papers 14709, C.E.P.R. Discussion Papers.
      • Kamepalli, Sai Krishna & Rajan, Raghuram G. & Zingales, Luigi, 2020. "Kill Zone," Working Papers 294, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
      • Sai Krishna Kamepalli & Raghuram G. Rajan & Luigi Zingales, 2020. "Kill Zone," Working Papers 2020-19, Becker Friedman Institute for Research In Economics.
    24. Hsu, Po-Hsuan & Huang, Peng & Humphery-Jenner, Mark & Powell, Ronan, 2021. "Cross-border mergers and acquisitions for innovation," Journal of International Money and Finance, Elsevier, vol. 112(C).
    25. Tianxu Jiang & Min Zhu, 2021. "The impact of innovation on companies’ cross-border mergers and acquisitions: evidence from China," Quality & Quantity: International Journal of Methodology, Springer, vol. 55(3), pages 969-991, June.
    26. M. D. Beneish & C. R. Harvey & A. Tseng & P. Vorst, 2022. "Unpatented innovation and merger synergies," Review of Accounting Studies, Springer, vol. 27(2), pages 706-744, June.
    27. Kong, Dongmin & Wang, Yanan & Zhang, Jian, 2020. "Efficiency wages as gift exchange: Evidence from corporate innovation in China," Journal of Corporate Finance, Elsevier, vol. 65(C).
    28. Huang, Jingong & Xie, Taojun, 2023. "Technology centrality, bilateral knowledge spillovers and mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 79(C).
    29. Pham, Ly Thi Minh & Vo, Lai Van & Le, Huong Thi Thu & Le, Danh Vinh, 2018. "Asset liquidity and firm innovation," International Review of Financial Analysis, Elsevier, vol. 58(C), pages 225-234.
    30. Derrien, François & Frésard, Laurent & Slabik, Victoria & Valta, Philip, 2023. "Industry asset revaluations around public and private acquisitions," Journal of Financial Economics, Elsevier, vol. 147(1), pages 243-269.
    31. Schmitz, Tom & Fons-Rosen, Christian & Roldan-Blanco, Pau, 2022. "The Effects of Startup Acquisitions on Innovation and Economic Growth," CEPR Discussion Papers 17752, C.E.P.R. Discussion Papers.
    32. Cornett, Marcia Millon & Erhemjamts, Otgontsetseg & Tehranian, Hassan, 2019. "Competitive environment and innovation intensity," Global Finance Journal, Elsevier, vol. 41(C), pages 44-59.
    33. Schmutzler, Armin & Letina, Igor & Seibel, Regina, 2020. "Start-up Acquisitions and Innovation Strategies," VfS Annual Conference 2020 (Virtual Conference): Gender Economics 224631, Verein für Socialpolitik / German Economic Association.
    34. Joanna Toborek-Mazur & Magdalena Wójcik-Jurkiewicz, 2022. "Multi-Energy Concern as an Example of the Implementation of Agenda 2030: Poland as a Case Study," Energies, MDPI, vol. 15(5), pages 1-22, February.
    35. Galina Besstremyannaya & Richard Dasher & Sergei Golovan, 2018. "Growth through acquisition of innovations," Working Papers w0247, New Economic School (NES).
    36. Bradley, Daniel & Hu, Dan & Yuan, Xiaojing & Zhang, Chi, 2023. "Trade secret protection and product market dynamics," Journal of Corporate Finance, Elsevier, vol. 83(C).
    37. McShane, William & Sevilir, Merih, 2023. "R&D tax credits and the acquisition of startups," IWH Discussion Papers 15/2023, Halle Institute for Economic Research (IWH).
    38. Chondrakis, George, 2016. "Unique synergies in technology acquisitions," Research Policy, Elsevier, vol. 45(9), pages 1873-1889.
    39. Wang, Wenyu, 2018. "Bid anticipation, information revelation, and merger gains," Journal of Financial Economics, Elsevier, vol. 128(2), pages 320-343.
    40. (Jennifer) Wu, Szu-Yin & Chung, Kee H., 2019. "Corporate innovation, likelihood to be acquired, and takeover premiums," Journal of Banking & Finance, Elsevier, vol. 108(C).
    41. Gu, Tiantian, 2017. "U.S. multinationals and cash holdings," Journal of Financial Economics, Elsevier, vol. 125(2), pages 344-368.
    42. Xing, Fei & Hai, Mengdie & Cai, Jiayao, 2023. "Network centrality and technology acquisitions: Evidence from China's listed business groups," Economic Modelling, Elsevier, vol. 120(C).
    43. Stiebale, Joel & Haucap, Justus, 2013. "How Mergers A ffect Innovation: Theory and Evidence," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79831, Verein für Socialpolitik / German Economic Association.
    44. Michael Ewens & Ryan H. Peters & Sean Wang, 2019. "Measuring Intangible Capital with Market Prices," NBER Working Papers 25960, National Bureau of Economic Research, Inc.
    45. Massimiliano Volpi, 2017. "Sources of information for innovation: the role of companies’ motivations," Industry and Innovation, Taylor & Francis Journals, vol. 24(8), pages 817-836, November.
    46. George Chondrakis & Carlos J. Serrano & Rosemarie H. Ziedonis, 2021. "Information disclosure and the market for acquiring technology companies," Strategic Management Journal, Wiley Blackwell, vol. 42(5), pages 1024-1053, May.
    47. Jan Malek & Melissa Newham & Jo Seldeslachts & Reinhilde Veugelers, 2024. "Acquiring R&D projects: who, when, and what? Evidence from antidiabetic drug development," Working Papers of Department of Management, Strategy and Innovation, Leuven 735739, KU Leuven, Faculty of Economics and Business (FEB), Department of Management, Strategy and Innovation, Leuven.
    48. Olivier Dessaint & Jacques Olivier & Clemens A Otto & David Thesmar, 2021. "CAPM-Based Company (Mis)valuations [Credit lines as monitored liquidity insurance: Theory and evidence]," The Review of Financial Studies, Society for Financial Studies, vol. 34(1), pages 1-66.
    49. Xu, Yan & Xu, Nianhang & Chan, Kam C. & Li, Zhe, 2021. "Generalists vs. specialists: Who are better acquirers?," Journal of Corporate Finance, Elsevier, vol. 67(C).
    50. Fresard, Laurent & Hege, Ulrich & Phillips, Gordon, 2016. "Extending Industry Specialization through Cross-Border Acquisitions," TSE Working Papers 16-745, Toulouse School of Economics (TSE).
    51. Lee, Eugenia Y. & Ha, Wonsuk & Park, Sunyoung, 2023. "Auditor specialization in R&D and clients’ R&D investment-q sensitivity," Journal of Contemporary Accounting and Economics, Elsevier, vol. 19(2).
    52. Harris, Jeremiah & O'Brien, William, 2018. "U.S. worldwide taxation and domestic mergers and acquisitions," Journal of Accounting and Economics, Elsevier, vol. 66(2), pages 419-438.
    53. Giulio Cornelli & Sebastian Doerr & Lavinia Franco & Jon Frost, 2021. "Funding for fintechs: patterns and drivers," BIS Quarterly Review, Bank for International Settlements, September.
    54. Debarati Bhattacharya & Wei-Hsien Li, 2020. "Wealth effects of relative firm value in M&A deals: reallocation of physical versus intangible assets," Review of Quantitative Finance and Accounting, Springer, vol. 55(4), pages 1513-1548, November.
    55. Igor Letina & Armin Schmutzler & Regina Seibel, 2021. "Killer Acquisitions and Beyond: Policy Effects on Innovation Strategies," Diskussionsschriften dp2003, Universitaet Bern, Departement Volkswirtschaft.
    56. Yu, Lin & Liu, Xiaoquan & Fung, Hung-Gay & Leung, Wai Kin, 2020. "Size and value effects in high-tech industries: The role of R&D investment," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).
    57. Wang, Shuxun & Wu, Kai & Lai, Seiwai, 2022. "Acquisition for innovations? M&A intensity and intra-firm innovation reallocations," Research in International Business and Finance, Elsevier, vol. 62(C).
    58. Paul Borochin & Chinmoy Ghosh & Di Huang, 2019. "Target information asymmetry and takeover strategy: Insights from a new perspective," European Financial Management, European Financial Management Association, vol. 25(1), pages 38-79, January.
    59. Fathollahi, Maryam & Harford, Jarrad & Klasa, Sandy, 2022. "Anticompetitive effects of horizontal acquisitions: The impact of within-industry product similarity," Journal of Financial Economics, Elsevier, vol. 144(2), pages 645-669.
    60. Bruno Pellegrino, 2023. "Product Differentiation and Oligopoly: A Network Approach," CESifo Working Paper Series 10244, CESifo.
    61. Levine, Oliver, 2017. "Acquiring growth," Journal of Financial Economics, Elsevier, vol. 126(2), pages 300-319.
    62. Nguyen, Phuong-Anh & Kecskés, Ambrus, 2020. "Do technology spillovers affect the corporate information environment?," Journal of Corporate Finance, Elsevier, vol. 62(C).
    63. Vithessonthi, Chaiporn & Racela, Olimpia C., 2016. "Short- and long-run effects of internationalization and R&D intensity on firm performance," Journal of Multinational Financial Management, Elsevier, vol. 34(C), pages 28-45.
    64. Wenjing Ouyang & Samuel H. Szewczyk, 2018. "Stock price informativeness on the sensitivity of strategic M&A investment to Q," Review of Quantitative Finance and Accounting, Springer, vol. 50(3), pages 745-774, April.
    65. Kaufmann, Mattheo & Schiereck, Dirk, 2023. "Acquiring for innovation: Evidence from the U.S. technology industry," Journal of Economic Dynamics and Control, Elsevier, vol. 152(C).
    66. Tania Babina & Sabrina T. Howell, 2018. "Entrepreneurial Spillovers from Corporate R&D," NBER Working Papers 25360, National Bureau of Economic Research, Inc.
    67. Yue Liu, 2019. "Shareholder wealth effects of M&A withdrawals," Review of Quantitative Finance and Accounting, Springer, vol. 52(3), pages 681-716, April.
    68. George Marian Aevoae & Roxana Dicu & Daniela Mardiros, 2019. "The Innovation Perspective Of The Acquirers: Empirical Evidence Regarding Patent-Driven M&As," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 24, pages 57-78, December.
    69. Dou, Winston Wei & Ji, Yan & Wu, Wei, 2021. "Competition, profitability, and discount rates," Journal of Financial Economics, Elsevier, vol. 140(2), pages 582-620.
    70. Chen, Jia & Gao, Ya-Chun & Li, Qiang & Zeng, Yong, 2020. "Cash holdings, M&A decision and risk premium," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 537(C).
    71. Chen, I-Ju & Hsu, Po-Hsuan & Wang, Yanzhi, 2022. "Staggered boards and product innovations: Evidence from Massachusetts State Bill HB 5640," Research Policy, Elsevier, vol. 51(4).
    72. Moritzen, Mark Raun & Schandlbauer, Alexander, 2020. "The impact of competition and time-to-finance on corporate cash holdings," Journal of Corporate Finance, Elsevier, vol. 65(C).
    73. Sanchita Kuchi & Sumeet Gupta, 2023. "Value-Creation Strategies for E-Commerce Businesses," IIM Kozhikode Society & Management Review, , vol. 12(2), pages 234-249, July.
    74. Xiangjun Hong & Xian Lin & Laitan Fang & Yuchen Gao & Ruipeng Li, 2022. "Application of Machine Learning Models for Predictions on Cross-Border Merger and Acquisition Decisions with ESG Characteristics from an Ecosystem and Sustainable Development Perspective," Sustainability, MDPI, vol. 14(5), pages 1-27, February.
    75. I-Ju Chen & Wei Chih Lin & Huai-Chun Lo & Sheng-Syan Chen, 2023. "Board diversity and corporate innovation," Review of Quantitative Finance and Accounting, Springer, vol. 61(1), pages 63-123, July.
    76. Thomas J. Chemmanur & Michael B. Imerman & Harshit Rajaiya & Qianqian Yu, 2020. "Recent Developments In The Fintech Industry," Journal of Financial Management, Markets and Institutions (JFMMI), World Scientific Publishing Co. Pte. Ltd., vol. 8(01), pages 1-31, June.
    77. Wagner, Alexander F. & Filipović, Zoran, 2019. "The Intangibles Song in Takeover Announcements: Good Tempo, Hollow Tune," CEPR Discussion Papers 13560, C.E.P.R. Discussion Papers.
    78. Hai Wu & Anne-Maree Thomas & Sue Wright, 2020. "Using the R&D capitalisation choice to explain the scale benefits of R&D investment," Australian Journal of Management, Australian School of Business, vol. 45(4), pages 579-606, November.
    79. Masulis, Ronald W. & Reza, Syed Walid & Guo, Rong, 2023. "The sources of value creation in acquisitions of intangible assets," Journal of Banking & Finance, Elsevier, vol. 154(C).
    80. Stanislav Anatolyev & Sergei Seleznev & Veronika Selezneva, 2019. "Does Index Arbitrage Distort the Market Reaction to Shocks?," CERGE-EI Working Papers wp651, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    81. Udichibarna Bose, 2023. "Does green transition promote green innovation and technological acquisitions?," Working Papers w202305, Banco de Portugal, Economics and Research Department.
    82. Flor, Christian Riis & Moritzen, Mark Raun, 2020. "Entering a new market: Market profitability and first-mover advantages," Journal of Corporate Finance, Elsevier, vol. 62(C).
    83. de Bodt, Eric & Cousin, Jean-Gabriel & Roll, Richard, 2019. "Improved method for detecting acquirer fixed effects," Journal of Empirical Finance, Elsevier, vol. 50(C), pages 20-42.
    84. Chemmanur, Thomas J. & Shen, Yao & Xie, Jing, 2023. "Innovation beyond firm boundaries: Strategic alliances and corporate innovation," Journal of Corporate Finance, Elsevier, vol. 80(C).
    85. Galina Besstremyannaya & Richard Dasher & Sergei Golovan, 2019. "Growth through acquisition of innovations," Working Papers w0247, Center for Economic and Financial Research (CEFIR).
    86. Xu, Fei & Liu, Qian & Zheng, Xingdong & Cao, Luqi & Yang, Mian, 2022. "Research on the impact of China's high-speed rail opening on enterprise market power: Based on the perspective of market segmentation," Transport Policy, Elsevier, vol. 128(C), pages 121-137.
    87. Vo, Lai Van & Le, Huong Thi Thu, 2017. "Strategic growth option, uncertainty, and R&D investment," International Review of Financial Analysis, Elsevier, vol. 51(C), pages 16-24.
    88. Koski, Heli & Kässi, Otto & Braesemann, Fabian, 2020. "Killers on the Road of Emerging Start-ups – Implications for Market Entry and Venture Capital Financing," ETLA Working Papers 81, The Research Institute of the Finnish Economy.
    89. Sang Jun Cho & Chune Young Chung & Daniel Sungyeon Kim, 2023. "Do antitrust laws erode shareholder returns? Evidence from the Chinese market," European Journal of Law and Economics, Springer, vol. 55(2), pages 349-376, April.
    90. Lim, Steve C. & Macias, Antonio J. & Moeller, Thomas, 2020. "Intangible assets and capital structure," Journal of Banking & Finance, Elsevier, vol. 118(C).
    91. Galina E. Besstremyannaya, 2019. "Strategies for Growth Through Mergers and Acquisitions: Evidence From Russian Companies," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 50-59, August.
    92. Li, Shi & Ang, James S. & Wu, Chaopeng & Yang, Shijie, 2021. "Valuing technological synergies in mergers," The North American Journal of Economics and Finance, Elsevier, vol. 58(C).
    93. Cabolis, C. & Manasakis, C. & Moreno, D. & Petrakis, E., 2021. "The interactions of R&D investments and horizontal mergers," Journal of Economic Behavior & Organization, Elsevier, vol. 187(C), pages 507-534.

  19. Gerard Hoberg & Gordon M. Phillips, 2011. "Conglomerate Industry Choice and Product Differentiation," NBER Working Papers 17221, National Bureau of Economic Research, Inc.

    Cited by:

    1. Xavier Boutin & Giacinta Cestone & Chiara Fumagalli & Giovanni Pica & Nicolas Serrano-Velarde, 2009. "The Deep-Pocket Effect of Internal Capital Markets," Working Papers 2009.108, Fondazione Eni Enrico Mattei.
    2. Giacomo Rodano & Emanuele Tarantino & Nicolas Serrano-Velarde, 2012. "Bankruptcy Law and the Cost of Banking Finance," Working Papers 1218, Oxford University Centre for Business Taxation.

  20. Vojislav Maksimovic & Gordon Phillips & Nagpurnanand Prabhala, 2011. "Post-Merger Restructuring and the Boundaries of the Firm," Working Papers 11-11, Center for Economic Studies, U.S. Census Bureau.

    Cited by:

    1. Cannizzaro, Anthony P. & Weiner, Robert J., 2015. "Multinational investment and voluntary disclosure: Project-level evidence from the petroleum industry," Accounting, Organizations and Society, Elsevier, vol. 42(C), pages 32-47.
    2. Xiaoyang Li, 2013. "Productivity, Restructuring, And The Gains From Takeovers," Working Papers 13-18, Center for Economic Studies, U.S. Census Bureau.
    3. Austin, Rebekah E. & Dunham, Lee M., 2022. "Do FinTech acquisitions improve the operating performance or risk profiles of acquiring firms?," Journal of Economics and Business, Elsevier, vol. 121(C).
    4. Shigeru Matsumoto & Keith Jackson, 2017. "Integration and Synergy Generation in Cross Border Acquisitions: A Case Study of Business Failure and Success ‘Made in Japan’," International Business Research, Canadian Center of Science and Education, vol. 10(9), pages 122-140, September.
    5. Bruce A. Blonigen & Justin R. Pierce, 2016. "Evidence for the Effects of Mergers on Market Power and Efficiency," Working Papers 16-43, Center for Economic Studies, U.S. Census Bureau.
    6. Wang, Jian & Wang, Xiao, 2015. "Benefits of foreign ownership: Evidence from foreign direct investment in China," Journal of International Economics, Elsevier, vol. 97(2), pages 325-338.
    7. Mahelet G. Fikru, 2013. "Environmental Policies, Mergers and Welfare," Economía Mexicana NUEVA ÉPOCA, CIDE, División de Economía, vol. 0(2), pages 449-461, July-Dece.
    8. Ali Hortacsu & Chad Syverson, 2009. "Why Do Firms Own Production Chains?," Working Papers 09-31, Center for Economic Studies, U.S. Census Bureau.
    9. Iskandar-Datta, Mai & Shekhar, Shriya, 2020. "Do insider CFOs deliver better acquisition performance?," Journal of Business Research, Elsevier, vol. 118(C), pages 240-252.
    10. Angélica María Sánchez-Riofrío & Luis Ángel Guerras-Martín & Francisco Javier Forcadell, 2015. "Business portfolio restructuring: a comprehensive bibliometric review," Scientometrics, Springer;Akadémiai Kiadó, vol. 102(3), pages 1921-1950, March.
    11. Vojislav Maksimovic & Gordon Phillips & Liu Yang, 2023. "Do IPO Firms Become Myopic?," Review of Finance, European Finance Association, vol. 27(3), pages 765-807.
    12. Isil Erel & Yeejin Jang & Michael S. Weisbach, 2012. "Financing-Motivated Acquisitions," NBER Working Papers 17867, National Bureau of Economic Research, Inc.
    13. XU Peng, 2021. "Population Aging and Small Business Exits," Discussion papers 21091, Research Institute of Economy, Trade and Industry (RIETI).
    14. Xiao, Jing, 2018. "Post-acquisition dynamics of technology start-ups: drawing the temporal boundaries of post-acquisition restructuring process," Papers in Innovation Studies 2018/12, Lund University, CIRCLE - Centre for Innovation Research.
    15. Hsu, Junming & Yang, Tung-Hsiao & Tsai, Yi-Chi, 2021. "The long-run performance of cross-border acquirers: An analysis of synergy sources," Journal of Multinational Financial Management, Elsevier, vol. 60(C).
    16. Duchin, Ran & Schmidt, Breno, 2013. "Riding the merger wave: Uncertainty, reduced monitoring, and bad acquisitions," Journal of Financial Economics, Elsevier, vol. 107(1), pages 69-88.
    17. Alhenawi, Yasser & Krishnaswami, Sudha, 2015. "Long-term impact of merger synergies on performance and value," The Quarterly Review of Economics and Finance, Elsevier, vol. 58(C), pages 93-118.
    18. Mukherjee, Rahul & Proebsting, Christian, 2021. "Acquirers and financial constraints: Theory and evidence from emerging markets," Journal of International Money and Finance, Elsevier, vol. 117(C).
    19. John (Jianqiu) Bai, 2021. "Organizational Form and Trade Liberalization: Plant-Level Evidence," Management Science, INFORMS, vol. 67(12), pages 7755-7784, December.
    20. Stiebale, Joel, 2016. "Cross-border M&As and innovative activity of acquiring and target firms," Journal of International Economics, Elsevier, vol. 99(C), pages 1-15.
    21. M. D. Beneish & C. R. Harvey & A. Tseng & P. Vorst, 2022. "Unpatented innovation and merger synergies," Review of Accounting Studies, Springer, vol. 27(2), pages 706-744, June.
    22. Bruyland, Evy & Lasfer, Meziane & De Maeseneire, Wouter & Song, Wei, 2019. "The performance of acquisitions by high default risk bidders," Journal of Banking & Finance, Elsevier, vol. 101(C), pages 37-58.
    23. Erel, Isil & Jang, Yeejin & Weisbach, Michael S., 2013. "Do Acquisitions Relieve Target Firms' Financial Constraints?," Working Paper Series 2013-03, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    24. Di Giuli, Alberta, 2013. "The effect of stock misvaluation and investment opportunities on the method of payment in mergers," Journal of Corporate Finance, Elsevier, vol. 21(C), pages 196-215.
    25. García-Vega, María & Hofmann, Patricia & Kneller, Richard, 2019. "Multinationals and the globalization of R&D," International Journal of Industrial Organization, Elsevier, vol. 63(C), pages 583-614.
    26. Victor Manuel Bennett & Emilie R. Feldman, 2017. "Make Room! Make Room! A Note on Sequential Spinoffs and Acquisitions," Strategy Science, INFORMS, vol. 2(2), pages 100-110, June.
    27. Chorniy, Anna & Miller, Daniel & Tang, Tilan, 2020. "Mergers in Medicare Part D: Assessing market power, cost efficiencies, and bargaining power," International Journal of Industrial Organization, Elsevier, vol. 68(C).
    28. Baker, Malcolm & Pan, Xin & Wurgler, Jeffrey, 2012. "The effect of reference point prices on mergers and acquisitions," Journal of Financial Economics, Elsevier, vol. 106(1), pages 49-71.
    29. Bakke, Tor-Erik & Gu, Tiantian, 2017. "Diversification and cash dynamics," Journal of Financial Economics, Elsevier, vol. 123(3), pages 580-601.
    30. Aktas, Nihat & Baros, Aleksandra & Croci, Ettore, 2022. "Corporate divestitures around acquisitions," Journal of Corporate Finance, Elsevier, vol. 73(C).
    31. Liang, Hao & Renneboog, Luc & Vansteenkiste, Cara, 2017. "Cross-Border Acquisitions and Employee-Engagement," Other publications TiSEM 302b5e09-4d1d-4b32-9d74-7, Tilburg University, School of Economics and Management.
    32. Karen Y. Jang, 2020. "Corporate Assets and Enhancing Firm Value: Evidence from the Market for Bank Branches in the US," Journal of Financial Services Research, Springer;Western Finance Association, vol. 57(3), pages 253-286, June.
    33. Robert Clark & Mario Samano, 2022. "Incentivized Mergers and Cost Efficiency: Evidence from the Electricity Distribution Industry," Journal of Industrial Economics, Wiley Blackwell, vol. 70(4), pages 791-837, December.
    34. Huang, Sheng, 2014. "Managerial expertise, corporate decisions and firm value: Evidence from corporate refocusing," Journal of Financial Intermediation, Elsevier, vol. 23(3), pages 348-375.
    35. Barbara Fidanza, 2017. "Quali driver nella selezione delle target in operazioni di M&A? Una verifica empirica nel mercato italiano," Working Papers 52-2017, Macerata University, Department of Studies on Economic Development (DiSSE), revised Jan 2018.
    36. Dessaint, Olivier & Golubov, Andrey & Volpin, Paolo, 2017. "Employment protection and takeovers," Journal of Financial Economics, Elsevier, vol. 125(2), pages 369-388.
    37. Renneboog, Luc & Vansteenkiste, C., 2019. "Failure and Success in Mergers and Acquisitions," Discussion Paper 2019-026, Tilburg University, Center for Economic Research.
    38. Ragnhild Balsvik & Stefanie A. Haller, 2020. "Worker–Plant Matching and Ownership Change," Scandinavian Journal of Economics, Wiley Blackwell, vol. 122(4), pages 1286-1314, October.
    39. Stiebale, Joel & Vencappa, Dev, 2016. "Acquisitions, markups, efficiency, and product quality: Evidence from India," DICE Discussion Papers 229, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    40. To, Thomas Y. & Navone, Marco & Wu, Eliza, 2018. "Analyst coverage and the quality of corporate investment decisions," Journal of Corporate Finance, Elsevier, vol. 51(C), pages 164-181.
    41. Habib, Michel A. & Mella-Barral, Pierre, 2013. "Skills, core capabilities, and the choice between merging, allying, and trading assets," Journal of Mathematical Economics, Elsevier, vol. 49(1), pages 31-48.
    42. Ushijima, Tatsuo & Iriyama, Akie, 2015. "The roles of closure and selloff in corporate restructuring," Journal of the Japanese and International Economies, Elsevier, vol. 38(C), pages 73-92.
    43. Gao, Ning & Peng, Ni & Zhang, Yi, 2021. "Distributive inefficiency in horizontal mergers: Evidence from wealth transfers between merging firms and their customers," International Review of Financial Analysis, Elsevier, vol. 78(C).
    44. Yasser Alhenawi & Martha L. Stilwell, 2019. "Toward a complete definition of relatedness in merger and acquisition transactions," Review of Quantitative Finance and Accounting, Springer, vol. 53(2), pages 351-396, August.
    45. Frey, Rainer & Goldbach, Stefan, 2021. "Benefits of internationalisation for acquirers and targets - But unevenly distributed," Discussion Papers 33/2021, Deutsche Bundesbank.
    46. Paige Ouimet & Rebecca Zarutskie, 2011. "Acquiring Labor," Working Papers 11-32, Center for Economic Studies, U.S. Census Bureau.
    47. Cahan, Steven & Hay, David & Li, Lina Z., 2021. "Audit firm merger and the strategic response by large audit firms," The British Accounting Review, Elsevier, vol. 53(3).
    48. Wenjing Ouyang & Samuel H. Szewczyk, 2018. "Stock price informativeness on the sensitivity of strategic M&A investment to Q," Review of Quantitative Finance and Accounting, Springer, vol. 50(3), pages 745-774, April.
    49. Liang, Hao & Renneboog, Luc & Vansteenkiste, Cara, 2020. "Cross-border acquisitions and employment policies," Journal of Corporate Finance, Elsevier, vol. 62(C).
    50. Sertsios, Giorgo, 2020. "Corporate finance, industrial organization, and organizational economics," Journal of Corporate Finance, Elsevier, vol. 64(C).
    51. Marković Dušan & Đurović Ana & Savović Slađana, 2022. "Post-Acquisition Management in Transitional Economies: Empirical Analysis of Acquired Company in Telecommunication Industry," Economic Themes, Sciendo, vol. 60(4), pages 495-512, December.
    52. Tania Babina & Sabrina T. Howell, 2018. "Entrepreneurial Spillovers from Corporate R&D," NBER Working Papers 25360, National Bureau of Economic Research, Inc.
    53. Geoffrey Tate & Liu Yang, 2015. "The Human Factor in Acquisitions: Cross-Industry Labor Mobility and Corporate Diversification," Working Papers 15-31, Center for Economic Studies, U.S. Census Bureau.
    54. Nuri Ersahin & Rustom M. Irani & Hanh Le, 2015. "Creditor Control Rights and Resource Allocation within Firms," Working Papers 15-39, Center for Economic Studies, U.S. Census Bureau.
    55. Ragnhild Balsvik & Stefanie A. Haller, 2010. "Picking “Lemons” or Picking “Cherries”? Domestic and Foreign Acquisitions in Norwegian Manufacturing," Scandinavian Journal of Economics, Wiley Blackwell, vol. 112(2), pages 361-387, June.
    56. Colombo, Massimo G. & Rabbiosi, Larissa, 2014. "Technological similarity, post-acquisition R&D reorganization, and innovation performance in horizontal acquisitions," Research Policy, Elsevier, vol. 43(6), pages 1039-1054.
    57. Hong Zhu & Qi Zhu, 2016. "Mergers and acquisitions by Chinese firms: A review and comparison with other mergers and acquisitions research in the leading journals," Asia Pacific Journal of Management, Springer, vol. 33(4), pages 1107-1149, December.
    58. Liu, Tingting & Lu, Zhongjin (Gene) & Shu, Tao & Wei, Fengrong, 2022. "Unique bidder-target relatedness and synergies creation in mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 73(C).
    59. Sorin Daniliuc & Chris Bilson & Greg Shailer, 2014. "The Interaction of Post-Acquisition Integration and Acquisition Focus in Relation to Long-Run Performance," International Review of Finance, International Review of Finance Ltd., vol. 14(4), pages 587-612, December.
    60. Azimjon Kuvandikov & Andrew Pendleton & David Higgins, 2014. "Employment Change after Takeovers: The Role of Executive Ownership," British Journal of Industrial Relations, London School of Economics, vol. 52(2), pages 191-236, June.
    61. Todtenhaupt, Maximilian & Voget, Johannes, 2018. "International Taxation and Productivity Effects of M&As," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181548, Verein für Socialpolitik / German Economic Association.
    62. John (Jianqiu) Bai & Wang Jin & Matthew Serfling, 2022. "Management Practices and Mergers and Acquisitions," Management Science, INFORMS, vol. 68(3), pages 2141-2165, March.
    63. Dimopoulos, Theodosios & Sacchetto, Stefano, 2017. "Merger activity in industry equilibrium," Journal of Financial Economics, Elsevier, vol. 126(1), pages 200-226.
    64. Van Beers, Cees & Dekker, Ronald, 2009. "Acquisitions, Divestitures and Innovation Performance in the Netherlands," MPRA Paper 13464, University Library of Munich, Germany.
    65. Peng XU, 2019. "Exit of Small Businesses: Differentiating between Insolvency, Voluntary Closures and M&A," Discussion papers 19051, Research Institute of Economy, Trade and Industry (RIETI).
    66. Sang Jun Cho & Chune Young Chung & Daniel Sungyeon Kim, 2023. "Do antitrust laws erode shareholder returns? Evidence from the Chinese market," European Journal of Law and Economics, Springer, vol. 55(2), pages 349-376, April.
    67. Todtenhaupt, Maximilian & Voget, Johannes, 2017. "International taxation and productivity effects of M&As," ZEW Discussion Papers 17-014, ZEW - Leibniz Centre for European Economic Research.
    68. Ersahin, Nuri & Irani, Rustom M. & Le, Hanh, 2021. "Creditor control rights and resource allocation within firms," Journal of Financial Economics, Elsevier, vol. 139(1), pages 186-208.
    69. Jonek Kowalska, Izabela, 2015. "Challenges for long-term industry restructuring in the Upper Silesian Coal Basin: What has Polish coal mining achieved and failed from a twenty-year perspective?," Resources Policy, Elsevier, vol. 44(C), pages 135-149.
    70. Liang, H. & Renneboog, Luc & Vansteenkiste, C., 2020. "Cross-border acquisitions and employment policies," Other publications TiSEM 23784b4f-1736-4990-af3d-2, Tilburg University, School of Economics and Management.

  21. Gordon PHILLIPS & Alexei ZHDANOV, 2011. "R&D and the Market for Acquisitions," Swiss Finance Institute Research Paper Series 11-22, Swiss Finance Institute.

    Cited by:

    1. Macias, Antonio & Pirinsky, Christo, 2015. "Employees and the market for corporate control," Journal of Corporate Finance, Elsevier, vol. 31(C), pages 33-53.

  22. Gordon M. Phillips & Giorgo Sertsios, 2011. "How Do Firm Financial Conditions Affect Product Quality and Pricing?," NBER Working Papers 17233, National Bureau of Economic Research, Inc.

    Cited by:

    1. Levine, Oliver & Warusawitharana, Missaka, 2021. "Finance and productivity growth: Firm-level evidence," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 91-107.
    2. Winston Wei Dou & Yan Ji & David Reibstein & Wei Wu, 2021. "Inalienable Customer Capital, Corporate Liquidity, and Stock Returns," Journal of Finance, American Finance Association, vol. 76(1), pages 211-265, February.
    3. Tania Babina, 2017. "Destructive Creation at Work: How Financial Distress Spurs Entrepreneurship," Working Papers 17-19, Center for Economic Studies, U.S. Census Bureau.
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    5. Ferrés, Daniel & Ormazabal, Gaizka & Povel, Paul & Sertsios, Giorgo, 2021. "Capital structure under collusion," Journal of Financial Intermediation, Elsevier, vol. 45(C).
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    284. Haodong Bai & Frank Z. Xing & Erik Cambria & Win-Bin Huang, 2019. "Business Taxonomy Construction Using Concept-Level Hierarchical Clustering," Papers 1906.09694, arXiv.org.
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    291. Li, Tongxia & Ang, Tze Chuan ‘Chewie’ & Lu, Chun, 2023. "Employment protection and the provision of trade credit," Journal of Banking & Finance, Elsevier, vol. 155(C).
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    294. Francesco D'Acunto & Jin Xie & Jiaquan Yao, 2020. "Trust and Contracts: Empirical Evidence," CESifo Working Paper Series 8714, CESifo.
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    1. Vittoria Cerasi & Alessandro Fedele & Raffaele Miniaci, 2015. "Do your Rivals Enhance your Access to Credit? Theory and Evidence," BEMPS - Bozen Economics & Management Paper Series BEMPS29, Faculty of Economics and Management at the Free University of Bozen.
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    3. Andrei Shleifer & Robert W. Vishny, 2010. "Fire Sales in Finance and Macroeconomics," NBER Working Papers 16642, National Bureau of Economic Research, Inc.
    4. Eileen van Straelen, 2021. "Desperate House Sellers: Distress Among Developers," Finance and Economics Discussion Series 2021-065, Board of Governors of the Federal Reserve System (U.S.).
    5. Gordon M. Phillips & Alexei Zhdanov, 2013. "R&D and the Incentives from Merger and Acquisition Activity," The Review of Financial Studies, Society for Financial Studies, vol. 26(1), pages 34-78.

  25. Gerard Hoberg & Gordon M. Phillips, 2008. "Real and Financial Industry Booms and Busts," NBER Working Papers 14290, National Bureau of Economic Research, Inc.

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    4. Huang, Yong & Uchida, Konari & Zha, Daolin, 2016. "Market timing of seasoned equity offerings with long regulative process," Journal of Corporate Finance, Elsevier, vol. 39(C), pages 278-294.
    5. Paul P. Momtaz, 2023. "The economics of PIPEs, revisited," Small Business Economics, Springer, vol. 60(1), pages 59-83, January.
    6. Reisel, Natalia, 2014. "On the value of restrictive covenants: Empirical investigation of public bond issues," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 251-268.
    7. Lin, Jing & An, Yunbi & Yang, Jun & Liang, Yinhe, 2019. "Price inversion and post lock-up period returns on private investments in public equity in China: An interest transfer perspective," Journal of Corporate Finance, Elsevier, vol. 54(C), pages 47-84.
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    22. S. Katie Moon & Gordon M. Phillips, 2014. "Outside Purchase Contracts, Human Capital and Firm Capital Structure," NBER Working Papers 20579, National Bureau of Economic Research, Inc.
    23. Pan, Lee-Hsien & Lin, Chien-Ting & Lee, Shih-Cheng & Ho, Kung-Cheng, 2015. "Information ratings and capital structure," Journal of Corporate Finance, Elsevier, vol. 31(C), pages 17-32.
    24. Henderson, Brian J. & Zhao, Bo, 2014. "More than meets the eye: Convertible bond issuers' concurrent transactions," Journal of Corporate Finance, Elsevier, vol. 24(C), pages 57-79.
    25. Nagano, Mamoru, 2017. "Sukuk issuance and information asymmetry: Why do firms issue sukuk?," Pacific-Basin Finance Journal, Elsevier, vol. 42(C), pages 142-157.
    26. Boneva, L. & Linton, O., 2017. "A Discrete Choice Model For Large Heterogeneous Panels with Interactive Fixed Effects with an Application to the Determinants of Corporate Bond Issuance," Cambridge Working Papers in Economics 1703, Faculty of Economics, University of Cambridge.
    27. Ulrike Malmendier & Geoffrey Tate & Jonathan Yan, 2010. "Overconfidence and Early-life Experiences: The Impact of Managerial Traits on Corporate Financial Policies," NBER Working Papers 15659, National Bureau of Economic Research, Inc.
    28. Ulrich Hege & Stefano Lovo & Myron B. Slovin & Marie E. Sushka, 2009. "Equity and Cash in Intercorporate Asset Sales: Theory and Evidence," The Review of Financial Studies, Society for Financial Studies, vol. 22(2), pages 681-714, February.
    29. Dawood Ashraf & Mohsin Khawaja & M. Ishaq Bhatti, 2022. "Raising capital amid economic policy uncertainty: an empirical investigation," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-32, December.
    30. Christophe Godlewski & Laurent Weill, 2020. "Are Loans Cheaper when Tomorrow seems Further ?," Post-Print hal-02500459, HAL.
    31. Leary, Mark T. & Roberts, Michael R., 2010. "The pecking order, debt capacity, and information asymmetry," Journal of Financial Economics, Elsevier, vol. 95(3), pages 332-355, March.
    32. Ortiz-Molina, Hernan, 2007. "Executive compensation and capital structure: The effects of convertible debt and straight debt on CEO pay," Journal of Accounting and Economics, Elsevier, vol. 43(1), pages 69-93, March.
    33. Matteo Arena, 2011. "The corporate choice between public debt, bank loans, traditional private debt placements, and 144A debt issues," Review of Quantitative Finance and Accounting, Springer, vol. 36(3), pages 391-416, April.
    34. Huang, Yong & Uchida, Konari & Yu, Xuanying & Zha, Daolin, 2021. "Market timing in private equity placements: Empirical evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 69(C).
    35. Cline, Brandon N. & Garner, Jacqueline L. & Yore, Adam S., 2014. "Exploitation of the internal capital market and the avoidance of outside monitoring," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 234-250.
    36. David J. Brophy & Paige P. Ouimet & Clemens Sialm, 2004. "PIPE Dreams? The Performance of Companies Issuing Equity Privately," NBER Working Papers 11011, National Bureau of Economic Research, Inc.
    37. Anjali Tuli, 2016. "Firms’ Choice of Seasoned Equity Issuance Method—Taking Private or Non-private Route," Global Business Review, International Management Institute, vol. 17(2), pages 400-410, April.
    38. Boeh, Kevin K. & Dunbar, Craig G., 2021. "Raising capital after IPO withdrawal," Journal of Corporate Finance, Elsevier, vol. 69(C).
    39. Jia, Gang & Li, Wanli & Zhang, He, 2019. "Impact of entrenched ultimate owners’ self-dealing on SEO methods choice and discounts of private placements––Evidence from listed companies in China," Emerging Markets Review, Elsevier, vol. 38(C), pages 404-422.
    40. Cécile Carpentier & Douglas Cumming & Jean‐Marc Suret, 2012. "The Value of Capital Market Regulation: IPOs Versus Reverse Mergers," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 9(1), pages 56-91, March.
    41. Autore, Don M. & Kovacs, Tunde, 2010. "Equity issues and temporal variation in information asymmetry," Journal of Banking & Finance, Elsevier, vol. 34(1), pages 12-23, January.
    42. Christophe J. GODLEWSKI, 2019. "How legal and institutional environments shape the private debt renegotiation process?," Working Papers of LaRGE Research Center 2019-08, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    43. Marco Maria Mattei & Petya Platikanova, 2017. "Do product market threats affect analyst forecast precision?," Review of Accounting Studies, Springer, vol. 22(4), pages 1628-1665, December.
    44. Linda Allen & Aron Gottesman, 2006. "The Informational Efficiency of the Equity Market As Compared to the Syndicated Bank Loan Market," Journal of Financial Services Research, Springer;Western Finance Association, vol. 30(1), pages 5-42, August.
    45. Gustafson, Matthew T. & Iliev, Peter, 2017. "The effects of removing barriers to equity issuance," Journal of Financial Economics, Elsevier, vol. 124(3), pages 580-598.
    46. Lamoureux, Christopher G. & Nejadmalayeri, Ali, 2015. "Costs of capital and public issuance choice," Journal of Banking & Finance, Elsevier, vol. 61(C), pages 27-45.
    47. Ali, Ashiq & Klasa, Sandy & Yeung, Eric, 2014. "Industry concentration and corporate disclosure policy," Journal of Accounting and Economics, Elsevier, vol. 58(2), pages 240-264.
    48. Morellec , Erwan & Valta , Philip & Zhdanov , Alexei, 2013. "Financing Investment: The Choice between Bonds and Bank Loans," HEC Research Papers Series 1010, HEC Paris.
    49. Brown, Stephen & Dutordoir, Marie & Veld, Chris & Veld-Merkoulova, Yulia, 2019. "What is the role of institutional investors in corporate capital structure decisions? A survey analysis," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 270-286.
    50. Dewi Ratih S.E. & M.S.M., 2023. "What Information Implied in the Equity Offering Mechanism with Market Timing Considerations?," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 17-32.
    51. Kose John & Joe Shangguan & Ravi Mateti, 2015. "Financing activities after accounting restatements: an examination of SEOs and PIPEs," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 5(1), pages 139-160, June.
    52. Roman Inderst & Vladimir Vladimirov, 2019. "Growth Firms and Relationship Finance: A Capital Structure Perspective," Management Science, INFORMS, vol. 65(11), pages 5411-5426, November.
    53. Petrov, Nikita & Ratnikova, Tatiana, 2018. "Analysis of the joint distribution of stock and art indices: Attempt of a copular approach," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 52, pages 46-61.
    54. Viral V. Acharya & Heitor Almeida & Murillo Campello, 2005. "Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies," NBER Working Papers 11391, National Bureau of Economic Research, Inc.
    55. Carmen Cotei & Joseph Farhat, 2011. "An application of the two-stage Bivariate Probit–Tobit model to corporate financing decisions," Review of Quantitative Finance and Accounting, Springer, vol. 37(3), pages 363-380, October.
    56. Joao Amaro de Matos & Joao Mergulhao, 2015. "Debt, information asymmetry and bankers on board," Nova SBE Working Paper Series wp597, Universidade Nova de Lisboa, Nova School of Business and Economics.
    57. Gao, Wenlian & Zhu, Feifei, 2015. "Information asymmetry and capital structure around the world," Pacific-Basin Finance Journal, Elsevier, vol. 32(C), pages 131-159.
    58. Billett, Matthew T. & Yang, Ke, 2016. "Bond tender offers in mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 40(C), pages 128-141.
    59. Christophe J. GODLEWSKI & Bulat SANDITOV, 2020. "Private debt renegotiation and financial institutions' network," Working Papers of LaRGE Research Center 2020-01, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    60. John, Kose & Mateti, Ravi S. & Vasudevan, Gopala & Amira, Khaled, 2016. "Investor protection and firm value: Evidence from PIPE offerings," Journal of Financial Stability, Elsevier, vol. 26(C), pages 78-89.
    61. Arnoud Boot & Vladimir Vladimirov, 2019. "(Non-)Precautionary Cash Hoarding and the Evolution of Growth Firms," Management Science, INFORMS, vol. 65(11), pages 5290-5307, November.
    62. Elizabeth Devos & Erik Devos & Seow Eng Ong & Andrew C. Spieler, 2019. "Information Asymmetry and REIT Capital Market Access," The Journal of Real Estate Finance and Economics, Springer, vol. 59(1), pages 90-110, July.
    63. Mark D. Walker & Qingqing Wu, 2024. "PIPEs, firm investment, and viability," Review of Quantitative Finance and Accounting, Springer, vol. 62(1), pages 171-194, January.
    64. Lena Boneva (Körber) & Oliver Linton, 2017. "A discrete choice model for large heterogeneous panels with interactive fixed effects with an application to the determinants of corporate bond issuance," CeMMAP working papers 02/17, Institute for Fiscal Studies.
    65. Brian J. Henderson & Heather Tookes, 2012. "Do Investment Banks' Relationships with Investors Impact Pricing? The Case of Convertible Bond Issues," Management Science, INFORMS, vol. 58(12), pages 2272-2291, December.
    66. Massa, Massimo & Yasuda, Ayako & Zhang, Lei, 2013. "Supply uncertainty of the bond investor base and the leverage of the firm," Journal of Financial Economics, Elsevier, vol. 110(1), pages 185-214.
    67. Lan, Yueqin & Huang, Yong & Yan, Chao, 2021. "Investor sentiment and stock price: Empirical evidence from Chinese SEOs," Economic Modelling, Elsevier, vol. 94(C), pages 703-714.
    68. Huang, Alan G. & Kalimipalli, Madhu & Nayak, Subhankar & Ramchand, Latha, 2019. "Risk mitigation by institutional participants in the secondary market: Evidence from foreign Rule 144A debt market," Journal of Banking & Finance, Elsevier, vol. 99(C), pages 202-221.
    69. Tung Lam Dang & Thi Hong Hanh Huynh & Manh Toan Nguyen & Thi Minh Hue Nguyen, 2017. "The firm information environment and capital structure: international evidence," Applied Economics, Taylor & Francis Journals, vol. 49(44), pages 4482-4500, September.
    70. Alberto Fuertes & Jose Maria Serena, 2016. "Insights from matched firm-bond level data: market of issuance and credit quality," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Combining micro and macro data for financial stability analysis, volume 41, Bank for International Settlements.
    71. Bipin Sony & Saumitra Bhadurib, 2020. "Information asymmetry and the choice between rights issue and private placement of equity," BASE University Working Papers 01/2020, BASE University, Bengaluru, India.
    72. Kwangmin Park & SooCheong (Shawn) Jang, 2018. "Is franchising an additional financing source for franchisors? A Blinder–Oaxaca decomposition analysis," Tourism Economics, , vol. 24(5), pages 541-559, August.
    73. Pinnuck, Matt & Shekhar, Chander, 2013. "The profit versus loss heuristic and firm financing decisions," Accounting, Organizations and Society, Elsevier, vol. 38(6), pages 420-439.
    74. Zeeshan Ahmed & Qasim Saleem & Abdul Qadir Bhatti & Bilal Ahmed, 2020. "Corporate Leverage Transmission under Information Asymmetry: Evidence from Non-financial Firms of Pakistan," International Journal of Economics and Financial Issues, Econjournals, vol. 10(4), pages 176-184.
    75. Christophe J. GODLEWSKI, 2017. "Initial conditions and the private debt renegotiation process," Working Papers of LaRGE Research Center 2017-03, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    76. Alessandra Iannamorelli & Stefano Nobili & Antonio Scalia & Luana Zaccaria, 2021. "Asymmetric Information and Corporate Lending: Evidence from SMEs Bond Markets," EIEF Working Papers Series 2105, Einaudi Institute for Economics and Finance (EIEF), revised Mar 2021.
    77. Asimakopoulos, Panagiotis & Asimakopoulos, Stylianos & Li, Xinyu, 2023. "The role of environmental, social, and governance rating on corporate debt structure," Journal of Corporate Finance, Elsevier, vol. 83(C).
    78. Antonio Falato & Dalida Kadyrzhanova & Jae Sim & Roberto Steri, 2022. "Rising Intangible Capital, Shrinking Debt Capacity, and the U.S. Corporate Savings Glut," Journal of Finance, American Finance Association, vol. 77(5), pages 2799-2852, October.
    79. Dutordoir, Marie & Pappas, Kostas & Xu, Alice Liang & Zeng, Cheng (Colin), 2023. "Covenants in convertible bonds: Boon or boilerplate?," Journal of Corporate Finance, Elsevier, vol. 80(C).
    80. Nagano, Mamoru, 2018. "What promotes/prevents firm bond issuance in emerging economies: Bank–firm relationship or information asymmetry?," International Review of Economics & Finance, Elsevier, vol. 56(C), pages 161-177.
    81. Khawaja, Mohsin & Bhatti, M. Ishaq & Ashraf, Dawood, 2019. "Ownership and control in a double decision framework for raising capital," Emerging Markets Review, Elsevier, vol. 41(C).
    82. Nini, Greg & Smith, David C. & Sufi, Amir, 2009. "Creditor control rights and firm investment policy," Journal of Financial Economics, Elsevier, vol. 92(3), pages 400-420, June.
    83. Dahiya, Sandeep & Klapper, Leora & Parthasarathy, Harini & Singer, Dorothe, 2017. "Equity raising by Asian firms: Choosing between PIPEs and SEOs," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 64-83.
    84. Alberto Fuertes & José María Serena, 2016. "How firms borrow in international bond markets: securities regulation and market segmentation," Working Papers 1603, Banco de España.
    85. Marshall, Andrew & McCann, Laura & McColgan, Patrick, 2019. "The market reaction to debt announcements: UK evidence surrounding the global financial crisis," The British Accounting Review, Elsevier, vol. 51(1), pages 92-109.
    86. Bortolotti, Bernardo & Megginson, William & Smart, Scott B., 2007. "The Rise of Accelerated Seasoned Equity Underwritings," Privatisation Regulation Corporate Governance Working Papers 12190, Fondazione Eni Enrico Mattei (FEEM).
    87. Alessandra Iannamorelli & Stefano Nobili & Antonio Scalia & Luana Zaccaria, 2020. "Asymmetric information in corporate lending: evidence from SME bond markets," Temi di discussione (Economic working papers) 1292, Bank of Italy, Economic Research and International Relations Area.

  28. Vojislav Maksimovic & Gordon Phillips, 2005. "The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?," Working Papers 05-29, Center for Economic Studies, U.S. Census Bureau.

    Cited by:

    1. Xavier Boutin & Giacinta Cestone & Chiara Fumagalli & Giovanni Pica & Nicolas Serrano-Velarde, 2009. "The Deep-Pocket Effect of Internal Capital Markets," Working Papers 2009.108, Fondazione Eni Enrico Mattei.
    2. Hanlon, Michelle & Heitzman, Shane, 2010. "A review of tax research," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 127-178, December.
    3. Richard Borghesi & Joel Houston & Andy Naranjo, 2007. "Value, Survival, and the Evolution of Firm Organizational Structure," Financial Management, Financial Management Association International, vol. 36(3), pages 5-31, September.
    4. Armando Gomes & Gordon Phillips, 2005. "Why Do Public Firms Issue Private and Public Securities?," NBER Working Papers 11294, National Bureau of Economic Research, Inc.
    5. Giacomo Rodano & Emanuele Tarantino & Nicolas Serrano-Velarde, 2012. "Bankruptcy Law and the Cost of Banking Finance," Working Papers 1218, Oxford University Centre for Business Taxation.
    6. Martynova, M. & Renneboog, L.D.R., 2005. "Takeover Waves : Triggers, Performance and Motives," Other publications TiSEM ed134639-33ef-4720-9935-e, Tilburg University, School of Economics and Management.
    7. Martynova, M., 2006. "The market for corporate control and corporate governance regulation in Europe," Other publications TiSEM 8651e281-4914-41f2-ac14-1, Tilburg University, School of Economics and Management.
    8. Lin, Chen & Su, Dongwei, 2008. "Industrial diversification, partial privatization and firm valuation: Evidence from publicly listed firms in China," Journal of Corporate Finance, Elsevier, vol. 14(4), pages 405-417, September.

  29. Susan Feinberg & Gordon Phillips, 2002. "Firm-Specific Resources, Financial-Market Development and the Growth of U.S. Multinationals," NBER Working Papers 9252, National Bureau of Economic Research, Inc.

    Cited by:

    1. Oberhofer, Harald & Pfaffermayr, Michael, 2010. "Firm Growth in Multinational Corporate Groups," Working Papers in Economics 2010-7, University of Salzburg.
    2. Fauver, Larry & Houston, Joel F. & Naranjo, Andy, 2004. "Cross-country evidence on the value of corporate industrial and international diversification," Journal of Corporate Finance, Elsevier, vol. 10(5), pages 729-752, November.
    3. Estrin, Saul & Nielsen, Bo B. & Nielsen, Sabina, 2017. "Emerging market multinational companies and internationalization: the role of home country urbanization," LSE Research Online Documents on Economics 68350, London School of Economics and Political Science, LSE Library.
    4. Ushijima, Tatsuo, 2005. "Internal capital market and the growth and survival of Japanese plants in the United States," Journal of the Japanese and International Economies, Elsevier, vol. 19(3), pages 366-385, September.

  30. Peter MacKay & Gordon M. Phillips, 2002. "Is There an Optimal Industry Financial Structure?," NBER Working Papers 9032, National Bureau of Economic Research, Inc.

    Cited by:

    1. DeYoung, Robert & Yom, Chiwon, 2008. "On the independence of assets and liabilities: Evidence from U.S. commercial banks, 1990-2005," Journal of Financial Stability, Elsevier, vol. 4(3), pages 275-303, September.
    2. Jianjun Miao, 2003. "Optimal Capital Structure and Industry Dynamics," Industrial Organization 0310001, University Library of Munich, Germany.
    3. Ivo Welch, 2004. "Capital Structure and Stock Returns," Journal of Political Economy, University of Chicago Press, vol. 112(1), pages 106-131, February.
    4. Ignacio Munyo, 2004. "The Determinants of Capital Structure: Evidence from an Economy without Stock Market," Econometric Society 2004 Latin American Meetings 267, Econometric Society.
    5. Frank, Murray Z. & Goyal, Vidhan K., 2003. "Testing the pecking order theory of capital structure," Journal of Financial Economics, Elsevier, vol. 67(2), pages 217-248, February.
    6. Aggarwal, Raj & Zhao, Xinlei, 2007. "The leverage-value relationship puzzle: An industry effects resolution," Journal of Economics and Business, Elsevier, vol. 59(4), pages 286-297.
    7. Li, Guangzhong & Li, Jie, 2018. "Managerial diversion, product market competition, and firm performance," China Economic Review, Elsevier, vol. 50(C), pages 240-264.
    8. Viral V. Acharya & Heitor Almeida & Murillo Campello, 2005. "Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies," NBER Working Papers 11391, National Bureau of Economic Research, Inc.
    9. Campello, Murillo, 2006. "Debt financing: Does it boost or hurt firm performance in product markets?," Journal of Financial Economics, Elsevier, vol. 82(1), pages 135-172, October.
    10. Bertrand, Marianne & Schoar, Antoinette, 2003. "Managing With Style: The Effect of Managers on Firm Policies," Working papers 4280-02, Massachusetts Institute of Technology (MIT), Sloan School of Management.
    11. Daniel M. Covitz & Diana Hancock & Myron L. Kwast, 2002. "Market discipline in banking reconsidered: the roles of deposit insurance reform, funding manager decisions and bond market liquidity," Finance and Economics Discussion Series 2002-46, Board of Governors of the Federal Reserve System (U.S.).
    12. Campello, Murillo, 2003. "Capital structure and product markets interactions: evidence from business cycles," Journal of Financial Economics, Elsevier, vol. 68(3), pages 353-378, June.
    13. Andrew Benito, 2003. "The capital structure decisions of firms: is there a pecking order?," Working Papers 0310, Banco de España.
    14. Sporleder, Thomas L. & Moss, Leeann E., 2001. "Capital Structure Decisions Of U.S.-Based Food Processing Firms: A Transaction Cost Economics Perspective," 2001 Regional Committee NC-221, October 1-2, 2001, McLean, Virginia 132394, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
    15. Cook, Douglas O. & Fu, Xudong & Tang, Tian, 2016. "Are target leverage ratios stable? Investigating the impact of corporate asset restructuring," Journal of Empirical Finance, Elsevier, vol. 35(C), pages 150-168.
    16. Daniel M. Covitz & Diana Hancock & Myron L. Kwast, 2004. "A reconsideration of the risk sensitivity of U.S. banking organization subordinated debt spreads: a sample selection approach," Economic Policy Review, Federal Reserve Bank of New York, issue Sep, pages 73-92.
    17. Daniel M. Covitz & Diana Hancock & Myron L. Kwast, 2004. "Market discipline in banking reconsidered: the roles of funding manager decisions and deposit insurance reform," Finance and Economics Discussion Series 2004-53, Board of Governors of the Federal Reserve System (U.S.).
    18. Djordje Kalicanin & Miroslav Todorovic, 2014. "Interactions Between Business And Financial Strategies In Serbian Companies," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 59(203), pages 55-74, October –.

  31. Gordon M Phillips & Vojislav Maksimovic, 1999. "Do Conglomerate Firms Allocate Resources Inefficiently?," Working Papers 99-11, Center for Economic Studies, U.S. Census Bureau.

    Cited by:

    1. Eberl, Stephan, 2008. "Licht und Schatten zentralisierter Kapitalallokation: die Wirkung Interner Kapitalmärkte auf den Unternehmenswert," Hohenheimer Schriften: Rechnungswesen - Steuern - Wirtschaftsprüfung 2008-1, University of Hohenheim, Department of Business Administration.
    2. Toxvaerd, Flavio, 2008. "Strategic merger waves: A theory of musical chairs," Journal of Economic Theory, Elsevier, vol. 140(1), pages 1-26, May.
    3. Mr. Luc Laeven & Mr. Martin R. Goetz & Mr. Ross Levine, 2012. "The Valuation Effects of Geographic Diversification: Evidence From U.S. Banks," IMF Working Papers 2012/050, International Monetary Fund.
    4. Bernardo, Antonio E & Luo, Jiang & Wang, James J.D., 2005. "A Theory of Socialistic Internal Capital Markets," University of California at Los Angeles, Anderson Graduate School of Management qt29x1966g, Anderson Graduate School of Management, UCLA.
    5. Lopez-de-Silanes, Florencio & Phalippou, Ludovic & Gottschalg, Olivier, 2010. "Giants at the Gate: On the Cross-section of Private Equity Investment Returns," MPRA Paper 28487, University Library of Munich, Germany.
    6. Axel Gautier & Malika Hamadi, 2005. "Internal Capital Market Efficiency of Belgian Holding Companies," Finance, Presses universitaires de Grenoble, vol. 26(2), pages 11-34.
    7. Levine, Ross & Laeven, Luc, 2005. "Is There a Diversification Discount in Financial Conglomerates?," CEPR Discussion Papers 5121, C.E.P.R. Discussion Papers.
    8. Xavier Boutin & Giacinta Cestone & Chiara Fumagalli & Giovanni Pica & Nicolas Serrano-Velarde, 2009. "The Deep-Pocket Effect of Internal Capital Markets," Working Papers 2009.108, Fondazione Eni Enrico Mattei.
    9. Marinelli, Federico, 2008. "Persistence of outstanding performance and shareholder value among diversified firms: The impact of past performance, efficient internal capital market, and relatedness of business segments," IESE Research Papers D/758, IESE Business School.
    10. Gautier, Axel & Heider, Florian, 2001. "What do internal capital markets do? Redistribution vs. incentives," LSE Research Online Documents on Economics 25062, London School of Economics and Political Science, LSE Library.
    11. Sandro Brusco & Fausto Panunzi, 2002. "Reallocation of Corporate Resources and Managerial Incentives in Internal Capital Markets," CESifo Working Paper Series 735, CESifo.
    12. Markus Glaser & Florencio Lopez-De-Silanes & Zacharias Sautner, 2013. "Opening the Black Box: Internal Capital Markets and Managerial Power," Journal of Finance, American Finance Association, vol. 68(4), pages 1577-1631, August.
    13. Ferris, Stephen P. & Kim, Kenneth A. & Kitsabunnarat, Pattanaporn, 2003. "The costs (and benefits?) of diversified business groups: The case of Korean chaebols," Journal of Banking & Finance, Elsevier, vol. 27(2), pages 251-273, February.
    14. Missaka Warusawitharana, 2007. "Corporate asset purchases and sales: theory and evidence," Finance and Economics Discussion Series 2007-27, Board of Governors of the Federal Reserve System (U.S.).
    15. Campa, Jose M. & Chang, P. H. Kevin & Refalo, James F., 2002. "An options-based analysis of emerging market exchange rate expectations: Brazil's Real Plan, 1994-1999," Journal of Development Economics, Elsevier, vol. 69(1), pages 227-253, October.
    16. Greene, William H. & Hornstein, Abigail S. & White, Lawrence J., 2009. "Multinationals do it better: Evidence on the efficiency of corporations' capital budgeting," Journal of Empirical Finance, Elsevier, vol. 16(5), pages 703-720, December.
    17. José Manuel Campa & Simi Kedia, 1999. "Explaining the Diversification Discount," Working Papers 99-06, New York University, Leonard N. Stern School of Business, Department of Economics.
    18. Lamont, Owen A. & Polk, Christopher, 2002. "Does diversification destroy value? Evidence from the industry shocks," Journal of Financial Economics, Elsevier, vol. 63(1), pages 51-77, January.
    19. Frederik P. Schlingemann & Rene M. Stulz & Ralph A. Walkling, 2000. "Asset Liquidity and Segment Divestitures," NBER Working Papers 7873, National Bureau of Economic Research, Inc.
    20. Villalonga, Belen, 2000. "Does Diversification Cause the “Diversification Discount”?," University of California at Los Angeles, Anderson Graduate School of Management qt40v212gm, Anderson Graduate School of Management, UCLA.
    21. Lee, Keun & Kim, Ji Youn & Lee, Oonkyu, 2010. "Long-term evolution of the firm value and behavior of business groups: Korean chaebols between weak premium, strong discount, and strong premium," Journal of the Japanese and International Economies, Elsevier, vol. 24(3), pages 412-440, September.
    22. Giacomo Rodano & Emanuele Tarantino & Nicolas Serrano-Velarde, 2012. "Bankruptcy Law and the Cost of Banking Finance," Working Papers 1218, Oxford University Centre for Business Taxation.
    23. Viral V. Acharya & Iftekhar Hasan & Anthony Saunders, 2002. "The effects of focus and diversification on bank risk and return: evidence from individual bank loan portfolios," Proceedings 905, Federal Reserve Bank of Chicago.
    24. Sheng-Syan Chen & I-Ju Chen, 2011. "Inefficient Investment and the Diversification Discount: Evidence from Corporate Asset Purchases," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 38(7-8), pages 887-914, September.
    25. James MacGee & Thorsten V. Koeppl, 2005. "What Banks Do And Markets Don't: Cross-subsidization," Working Paper 1052, Economics Department, Queen's University.
    26. Klein, Peter G, 2001. "Were the Acquisitive Conglomerates Inefficient?," RAND Journal of Economics, The RAND Corporation, vol. 32(4), pages 745-761, Winter.
    27. Gomes, Joao & Livdan, Dmitry, 2002. "The Performance of Optimally Diversified Firms: Reconciling Theory and Evidence," CEPR Discussion Papers 3546, C.E.P.R. Discussion Papers.
    28. Bardong, Florian & Bartram, Söhnke M. & Yadav, Pradeep K., 2006. "The Effect of Corporate Break-ups on Information Asymmetry: A Market Microstructure Analysis," MPRA Paper 13155, University Library of Munich, Germany, revised 26 Oct 2008.
    29. Campa, Jose M. & Hernando, Ignacio, 2002. "Value creation in European M&As," IESE Research Papers D/471, IESE Business School.
    30. Whited, Toni M., 2006. "External finance constraints and the intertemporal pattern of intermittent investment," Journal of Financial Economics, Elsevier, vol. 81(3), pages 467-502, September.
    31. Berg, Aron & Norbäck, Pehr-Johan & Persson, Lars, 2012. "International Mergers with Financially Constrained Owners," Working Paper Series 927, Research Institute of Industrial Economics.
    32. Laeven, Luc, 2001. "International evidence on the value of product and geographic diversity," Policy Research Working Paper Series 2729, The World Bank.
    33. Anjos, Fernando, 2010. "Costly refocusing, the diversification discount, and the pervasiveness of diversified firms," Journal of Corporate Finance, Elsevier, vol. 16(3), pages 276-287, June.
    34. Iftekhar Hasan & Anthony Saunders & Viral V. Acharya, 2002. "Should banks be diversified? Evidence from individual bank loan portfolios," BIS Working Papers 118, Bank for International Settlements.
    35. Donald S. Siegel & Kenneth L. Simons & Tomas Lindstrom, 2009. "Ownership Change, Productivity, and Human Capital: New Evidence from Matched Employer-Employee Data," NBER Chapters, in: Producer Dynamics: New Evidence from Micro Data, pages 397-442, National Bureau of Economic Research, Inc.
    36. Ayyagari, Meghana & Demirguc-Kunt, Asli & Maksimovic, Vojislav, 2011. "Small vs. young firms across the world : contribution to employment, job creation, and growth," Policy Research Working Paper Series 5631, The World Bank.
    37. Stanley C. W. Salvary, 2004. "The Neoclassical Model, Corporate Retained Earnings, And The Regional Flows Of Financial Capital," Urban/Regional 0410007, University Library of Munich, Germany.
    38. Belen Villalonga, 2001. "Diversification Discount or Premium? New Evidence from BITS Establishment-Level Data," Working Papers 01-13, Center for Economic Studies, U.S. Census Bureau.
    39. Gomes, Joao & Livdan, Dmitry, 2002. "Optimal Diversification," CEPR Discussion Papers 3461, C.E.P.R. Discussion Papers.
    40. Stein, Jeremy C., 2003. "Agency, information and corporate investment," Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 2, pages 111-165, Elsevier.
    41. Alain Praet, 2011. "Voluntary firm restructuring: why do firms sell or liquidate their subsidiaries?," Annals of Finance, Springer, vol. 7(4), pages 449-476, November.

  32. Gordon M Phillips & Vojislav Maksimovic, 1999. "The Market for Corporate Assets: Who Engages in Mergers and Asset Sales and are there Efficiency Gains?," Working Papers 99-12, Center for Economic Studies, U.S. Census Bureau.

    Cited by:

    1. Cannizzaro, Anthony P. & Weiner, Robert J., 2015. "Multinational investment and voluntary disclosure: Project-level evidence from the petroleum industry," Accounting, Organizations and Society, Elsevier, vol. 42(C), pages 32-47.
    2. Jinsuk Yang & Qing Hao & Mahmut Yaşar, 2023. "Institutional investors and cross‐border mergers and acquisitions: The 2000–2018 period," International Review of Finance, International Review of Finance Ltd., vol. 23(3), pages 553-583, September.
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    Cited by:

    1. Pavel Sevcik, 2015. "Financial Frictions, Internal Capital Markets, and the Organization of Production," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(3), pages 505-522, July.
    2. José Manuel Campa & Simi Kedia, 1999. "Explaining the Diversification Discount," Working Papers 99-06, New York University, Leonard N. Stern School of Business, Department of Economics.
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    1. Wiklund, Johan & Baker, Ted & Shepherd, Dean, 2010. "The age-effect of financial indicators as buffers against the liability of newness," Journal of Business Venturing, Elsevier, vol. 25(4), pages 423-437, July.
    2. Morellec, Erwan, 2001. "Asset liquidity, capital structure, and secured debt," Journal of Financial Economics, Elsevier, vol. 61(2), pages 173-206, August.
    3. Gregor Andrade & Steven N. Kaplan, 1997. "How Costly is Financial (not Economic) Distress? Evidence from Highly Leveraged Transactions that Became Distressed," NBER Working Papers 6145, National Bureau of Economic Research, Inc.
    4. Palia, Darius & Lichtenberg, Frank, 1999. "Managerial ownership and firm performance: A re-examination using productivity measurement," Journal of Corporate Finance, Elsevier, vol. 5(4), pages 323-339, December.

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    1. Richard I.D. Harris & Qian Cher Li, "undated". "Export-market dynamics and the probability of firm closure: Evidence for the UK," Working Papers 2008_17, Business School - Economics, University of Glasgow.
    2. Januszewski, Silke I. & Köke, F. Jens & Winter, Joachim, 2002. "Product market competition, corporate governance and firm performance: An empirical analysis for Germany," Munich Reprints in Economics 19548, University of Munich, Department of Economics.
    3. Amrita Nain & Yan Wang, 2018. "The Product Market Impact of Minority Stake Acquisitions," Management Science, INFORMS, vol. 64(2), pages 825-844, February.
    4. Abdul Wahab, Nor Shaipah & Holland, Kevin, 2015. "The persistence of book-tax differences," The British Accounting Review, Elsevier, vol. 47(4), pages 339-350.
    5. Ciliberto, Federico & Schenone, Carola, 2012. "Bankruptcy and product-market competition: Evidence from the airline industry," International Journal of Industrial Organization, Elsevier, vol. 30(6), pages 564-577.
    6. Xavier Boutin & Giacinta Cestone & Chiara Fumagalli & Giovanni Pica & Nicolas Serrano-Velarde, 2009. "The Deep-Pocket Effect of Internal Capital Markets," Working Papers 2009.108, Fondazione Eni Enrico Mattei.
    7. Dalida Kadyrzhanova & Antonio Falato, 2008. "Optimal CEO Incentives and Industry Dynamics," 2008 Meeting Papers 880, Society for Economic Dynamics.
    8. Philip Valta, 2010. "Competition and the Cost of Debt," Working Papers hal-00515913, HAL.
    9. Ciliberto, Federico & Schenone, Carola, 2010. "Are the Bankrupt Skies the Friendliest?," MPRA Paper 24915, University Library of Munich, Germany.
    10. Miguel Antón & Florian Ederer & Mireia Giné & Martin C. Schmalz, 2016. "Common Ownership, Competition, and Top Management Incentives," CESifo Working Paper Series 6178, CESifo.
    11. Alon Brav & Wei Jiang & Hyunseob Kim, 2012. "The Real Effects of Hedge Fund Activism: Productivity, Risk, and Product Market Competition," Working Papers 12-14, Center for Economic Studies, U.S. Census Bureau.
    12. Wang, Shinn-Shyr & Stiegert, Kyle W. & Dhar, Tirtha P., 2006. "Strategic Pricing Behavior under Asset Value Maximization," Staff Paper Series 495, University of Wisconsin, Agricultural and Applied Economics.
    13. Leach, J. Chris & Moyen, Nathalie & Yang, Jing, 2013. "On the strategic use of debt and capacity in rapidly expanding markets," Journal of Corporate Finance, Elsevier, vol. 23(C), pages 332-344.
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    22. Ferrés, Daniel & Ormazabal, Gaizka & Povel, Paul & Sertsios, Giorgo, 2021. "Capital structure under collusion," Journal of Financial Intermediation, Elsevier, vol. 45(C).
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    25. T. Franck & N. Huyghebaert, 2004. "On the Interactions between Capital Structure and Product Markets.A Survey of the Literature," Review of Business and Economic Literature, KU Leuven, Faculty of Economics and Business (FEB), Review of Business and Economic Literature, vol. 0(4), pages 727-787.
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    Cited by:

    1. Amrita Nain & Yan Wang, 2018. "The Product Market Impact of Minority Stake Acquisitions," Management Science, INFORMS, vol. 64(2), pages 825-844, February.
    2. Xavier Boutin & Giacinta Cestone & Chiara Fumagalli & Giovanni Pica & Nicolas Serrano-Velarde, 2009. "The Deep-Pocket Effect of Internal Capital Markets," Working Papers 2009.108, Fondazione Eni Enrico Mattei.
    3. Dalida Kadyrzhanova & Antonio Falato, 2008. "Optimal CEO Incentives and Industry Dynamics," 2008 Meeting Papers 880, Society for Economic Dynamics.
    4. Ciliberto, Federico & Schenone, Carola, 2010. "Are the Bankrupt Skies the Friendliest?," MPRA Paper 24915, University Library of Munich, Germany.
    5. Sultan Sikandar Mirza & Tanveer Ahsan & Raheel Safdar & Ajid Ur Rehman, 2020. "Competition, Debt Maturity, and Adjustment Speed in China: A Dynamic Fractional Estimation Approach," JRFM, MDPI, vol. 13(5), pages 1-17, May.
    6. Wang, Shinn-Shyr & Stiegert, Kyle W. & Dhar, Tirtha P., 2006. "Strategic Pricing Behavior under Asset Value Maximization," Staff Paper Series 495, University of Wisconsin, Agricultural and Applied Economics.
    7. Stefan Beiner & Markus M. Schmid & Gabrielle Wanzenried, 2011. "Product Market Competition, Managerial Incentives and Firm Valuation," European Financial Management, European Financial Management Association, vol. 17(2), pages 331-366, March.
    8. Marian Rizov, 2008. "Corporate Capital Structure And How Soft Budget Constraints May Affect It," Journal of Economic Surveys, Wiley Blackwell, vol. 22(4), pages 648-684, September.
    9. Ferrés, Daniel & Ormazabal, Gaizka & Povel, Paul & Sertsios, Giorgo, 2021. "Capital structure under collusion," Journal of Financial Intermediation, Elsevier, vol. 45(C).
    10. T. Franck & N. Huyghebaert, 2004. "On the Interactions between Capital Structure and Product Markets.A Survey of the Literature," Review of Business and Economic Literature, KU Leuven, Faculty of Economics and Business (FEB), Review of Business and Economic Literature, vol. 0(4), pages 727-787.
    11. Douglas W Dwyer, 1995. "Whittling Away At Productivity Dispersion," Working Papers 95-5, Center for Economic Studies, U.S. Census Bureau.
    12. Wan Mohd Nazri Wan Daud & Norlia Mat Norwani & Anizawati Ahmad Mansor & Wan Anisah Endut, 2016. "Does Financing Decision Influence Corporate Performance in Malaysia?," International Journal of Economics and Financial Issues, Econjournals, vol. 6(3), pages 1165-1171.
    13. Chong-Chuo Chang & Shieh-Liang Chen & Aini Farmania & Feng-Tse Tsai & Ping-Chao Wu, 2018. "Corporate Governance And Product Market Power: Evidence From Taiwan," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 12(1), pages 93-104.
    14. Javier Campos, 2000. "Responsabilidad limitada, estructura financiera y comportamiento de las empresas españolas," Investigaciones Economicas, Fundación SEPI, vol. 24(3), pages 585-610, September.
    15. Indrani Chakraborty, 2020. "Debt financing and market concentration in an emerging economy: firm-level evidence from India," Economic Change and Restructuring, Springer, vol. 53(3), pages 451-474, August.
    16. Mohina Saxena & Surajit Bhattacharyya, 2022. "Industry dynamics and capital structure choice: Evidence from Indian manufacturing firms," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(3), pages 829-845, April.
    17. Hajda, Jakub & Nikolov, Boris, 2022. "Product market strategy and corporate policies," Journal of Financial Economics, Elsevier, vol. 146(3), pages 932-964.
    18. Brown, David T. & Fee, C. Edward & Thomas, Shawn E., 2009. "Financial leverage and bargaining power with suppliers: Evidence from leveraged buyouts," Journal of Corporate Finance, Elsevier, vol. 15(2), pages 196-211, April.
    19. Ernesto Schargrodsky, 2002. "The Effect of Product Market Competition on Capital Structure: Empirical Evidence from the Newspaper Industry," Business School Working Papers veintiocho, Universidad Torcuato Di Tella.
    20. Le Pape, Nicolas, 2001. "Endettement des firmes et comportements de rivalité : l’apport des principaux modèles en économie industrielle," L'Actualité Economique, Société Canadienne de Science Economique, vol. 77(2), pages 281-302, juin.
    21. Leonard J. Mirman & Thomas Jeitschko & Neelam Jain, 2001. "Financial Intermediation and Entry-Deterrence: A survey," Economics Bulletin, AccessEcon, vol. 12(1), pages 1-13.
    22. Antonio Falato, 2006. "Paying to Make a Difference: Executive Compensation and Product Dynamics," 2006 Meeting Papers 690, Society for Economic Dynamics.
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    24. Rosellon Cifuentes, M.A., 1999. "Essays on financial policy, liquidation values and product markets," Other publications TiSEM 802f644e-3e93-4815-bf33-8, Tilburg University, School of Economics and Management.
    25. Erol, Turan, 2005. "Corporate debt and output pricing in developing countries: Industry-level evidence from Turkey," Journal of Development Economics, Elsevier, vol. 76(2), pages 503-520, April.
    26. Erlend Nier, 1998. "Managers, Debt and Industry Equilibrium," FMG Discussion Papers dp289, Financial Markets Group.
    27. Campos, Javier & Carrasco, Raquel & Requejo, Alejandro, 2003. "Legal form and risk exposure in Spanish firms," MPRA Paper 103405, University Library of Munich, Germany, revised 2002.
    28. Norbäck, Pehr-Johan & Persson, Lars & Tåg, Joacim, 2010. "Buying to Sell: A Theory of Buyouts," Working Paper Series 817, Research Institute of Industrial Economics.
    29. Dick Damania, 1997. "Debt as a collusive device in an oligopoly supergame," Journal of Economics, Springer, vol. 66(3), pages 249-269, October.
    30. Li, Guangzhong & Li, Jie, 2018. "Managerial diversion, product market competition, and firm performance," China Economic Review, Elsevier, vol. 50(C), pages 240-264.
    31. Julie Hunsaker, 1999. "The role of debt and bankruptcy statutes in facilitating tacit collusion," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 20(1), pages 9-24.
    32. Giacomo Rodano & Emanuele Tarantino & Nicolas Serrano-Velarde, 2012. "Bankruptcy Law and the Cost of Banking Finance," Working Papers 1218, Oxford University Centre for Business Taxation.
    33. Kale, Jayant R. & Ryan, Harley E. & Wang, Lingling, 2019. "Outside employment opportunities, employee productivity, and debt discipline," Journal of Corporate Finance, Elsevier, vol. 59(C), pages 142-161.
    34. Peter MacKay & Gordon M. Phillips, 2002. "Is There an Optimal Industry Financial Structure?," NBER Working Papers 9032, National Bureau of Economic Research, Inc.
    35. Povel, Paul & Raith, Michael, 2004. "Financial constraints and product market competition: ex ante vs. ex post incentives," International Journal of Industrial Organization, Elsevier, vol. 22(7), pages 917-949, September.
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    37. David Smith & Jianguo Chen & Hamish Anderson, 2012. "The relationship between capital structure and product markets: evidence from New Zealand," Review of Quantitative Finance and Accounting, Springer, vol. 38(1), pages 1-24, January.
    38. Nicola Cetorelli & Philip E. Strahan, 2006. "Finance as a Barrier to Entry: Bank Competition and Industry Structure in Local U.S. Markets," Journal of Finance, American Finance Association, vol. 61(1), pages 437-461, February.
    39. James R. Brown & Lauren C. Lax & Bruce C. Petersen, 2010. "Financial Market Crises and Natural Resource Production," International Review of Finance, International Review of Finance Ltd., vol. 10(1), pages 93-124, March.
    40. Chen, Tsung-Kang & Liao, Hsien-Hsing & Chen, Wei-Lun, 2014. "Production efficiency uncertainty and corporate credit risk: Structural form credit model perspectives," Journal of Empirical Finance, Elsevier, vol. 29(C), pages 266-280.
    41. Istaitieh, Abdulaziz & Rodriguez-Fernandez, Jose M., 2006. "Factor-product markets and firm's capital structure: A literature review," Review of Financial Economics, Elsevier, vol. 15(1), pages 49-75.
    42. Cetorelli, Nicola, 2004. "Real Effects of Bank Competition," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 36(3), pages 543-558, June.
    43. Campello, Murillo, 2006. "Debt financing: Does it boost or hurt firm performance in product markets?," Journal of Financial Economics, Elsevier, vol. 82(1), pages 135-172, October.
    44. Azar, José & Schmalz, Martin & Tecu, Isabel, 2017. "Anti-Competitive Effects of Common Ownership," IESE Research Papers D/1169, IESE Business School.
    45. Abdulaziz Istaitieh & José M. Rodríguez‐Fernández, 2006. "Factor‐product markets and firm's capital structure: A literature review," Review of Financial Economics, John Wiley & Sons, vol. 15(1), pages 49-75.
    46. Banal Estanol, Albert & Siciliani, Paolo & Yoon, Kyoungsoo, 2022. "Competition, profitability and financial leverage," Bank of England working papers 962, Bank of England.
    47. John S. Hughes & Jennifer L. Kao & Arijit Mukherji, 1998. "Oligopoly, Financial Structure, and Resolution of Uncertainty," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 7(1), pages 67-88, March.
    48. Larkin, Yelena, 2013. "Brand perception, cash flow stability, and financial policy," Journal of Financial Economics, Elsevier, vol. 110(1), pages 232-253.
    49. Salvatore Piccolo & Giancarlo Spagnolo, 2014. "Debt, Managers and Cartels," CSEF Working Papers 365, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    50. Lord, Richard A. & McIntyre, James Jr., 2003. "Leverage, imports, profitability, exchange rates, and capital investment: a panel data study of the textile and apparel industries 1974-1987," International Review of Financial Analysis, Elsevier, vol. 12(3), pages 287-310.
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    53. Pehr-Johan Norbäck & Lars Persson & Joacim Tag, 2013. "Buying to Sell: Private Equity Buyouts and Industrial Restructuring," CESifo Working Paper Series 4338, CESifo.
    54. Abdul Razak Abdul Hadi & Nur Farah Nadiah Md Lazim & Tahir Iqbal, 2017. "Capital Structure Theories and Firm’s Value-Evidence from Bursa Malaysia Construction Sector," International Journal of Business and Management, Canadian Center of Science and Education, vol. 12(9), pages 163-163, August.
    55. Faure-Grimaud, Antoine, 2000. "Product market competition and optimal debt contracts: The limited liability effect revisited," European Economic Review, Elsevier, vol. 44(10), pages 1823-1840, December.
    56. Blomkvist, Magnus & Felixson, Karl & Löflund, Anders & Vyas, Hitesh, 2022. "Strategic underleveraging and acquisitions," Journal of Corporate Finance, Elsevier, vol. 76(C).
    57. Maurer, Boris, 1999. "Innovation and investment under financial constraints and product market competition," International Journal of Industrial Organization, Elsevier, vol. 17(4), pages 455-476, May.
    58. Vesperoni , Alberto, 2013. "War Finance and the Modern State," NEPS Working Papers 6/2013, Network of European Peace Scientists.
    59. Demers, Elizabeth & Lewellen, Katharina, 2003. "The marketing role of IPOs: evidence from internet stocks," Journal of Financial Economics, Elsevier, vol. 68(3), pages 413-437, June.
    60. Jakub Hajda, 2019. "Product Market Strategy and Corporate Policies," 2019 Papers pha1309, Job Market Papers.
    61. Ryen, Glen T. & Vasconcellos, Geraldo M. & Kish, Richard J., 1997. "Capital structure decisions: What have we learned?," Business Horizons, Elsevier, vol. 40(5), pages 41-50.
    62. Zechner, Josef, 1996. "Financial market-product market interactions in industry equilibrium: Implications for information acquisition decisions," European Economic Review, Elsevier, vol. 40(3-5), pages 883-896, April.
    63. Neff, Cornelia, 1997. "Finanzstruktur und strategischer Wettbewerb auf Gütermärkten," Tübinger Diskussionsbeiträge 89, University of Tübingen, School of Business and Economics.
    64. Nier, Erlend, 1998. "Managers, debt and industry equilibrium," LSE Research Online Documents on Economics 119152, London School of Economics and Political Science, LSE Library.

  37. Phillips, G.M. & Weiner, R.J., 1993. "Information and Normal Backwardationas Determinants of Trading Performance: Evidence form North-Sea Oil Forward Market," Papers 93-101, Purdue University, Krannert School of Management - Center for International Business Education and Research (CIBER).

    Cited by:

    1. Carl R. Zulauf & Scott H. Irwin, 1998. "Market Efficiency and Marketing to Enhance Income of Crop Producers," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 20(2), pages 308-331.
    2. Tanga McDaniel & Karsten Neuhoff, 2002. "Use of long-term auctions for network investment," Working Papers EP04, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    3. Nicole M. Moran & Scott H. Irwin & Philip Garcia, 2020. "Who Wins and Who Loses? Trader Returns and Risk Premiums in Agricultural Futures Markets," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 42(4), pages 611-652, December.
    4. Robert Weiner, 2006. "Do Birds of a Feather Flock Together? Speculator Herding in the World Oil Market," RFF Working Paper Series dp-06-31, Resources for the Future.
    5. Aris Kartsaklas, 2018. "Trader Type Effects On The Volatility‐Volume Relationship Evidence From The Kospi 200 Index Futures Market," Bulletin of Economic Research, Wiley Blackwell, vol. 70(3), pages 226-250, July.
    6. Weiner, Robert J., 2002. "Sheep in wolves' clothing? Speculators and price volatility in petroleum futures," The Quarterly Review of Economics and Finance, Elsevier, vol. 42(2), pages 391-400.
    7. Rousse, O. & Sévi, B., 2016. "Informed trading in oil-futures market," Working Papers 2016-07, Grenoble Applied Economics Laboratory (GAEL).
    8. Lim, Terence & Lo, Andrew W. & Merton, Robert C. & Scholes, Myron S., 2006. "The Derivatives Sourcebook," Foundations and Trends(R) in Finance, now publishers, vol. 1(5–6), pages 365-572, April.
    9. Dennis Dittrich & Boris Maciejovsky, "undated". "Information Dissemination on Asset Markets with Endogenous and Exogenous Information: An Experimental Approacha," Papers on Strategic Interaction 2002-03, Max Planck Institute of Economics, Strategic Interaction Group.

Articles

  1. S. Katie Moon & Gordon M. Phillips, 2021. "Outsourcing Through Purchase Contracts and Firm Capital Structure," Management Science, INFORMS, vol. 67(1), pages 363-387, January.

    Cited by:

    1. Dominika Gajdosikova & Katarina Valaskova & Tomas Kliestik & Maria Kovacova, 2023. "Research on Corporate Indebtedness Determinants: A Case Study of Visegrad Group Countries," Mathematics, MDPI, vol. 11(2), pages 1-30, January.
    2. Friedrich, Benjamin U. & Zator, Michał, 2023. "Flexibility costs of debt: Danish exporters during the cartoon crisis," Journal of Financial Economics, Elsevier, vol. 148(2), pages 91-117.
    3. Kovach, Jeremy J. & Swink, Morgan & Rodriguez, Mauricio, 2023. "A novel measure of firm-level production outsourcing," International Journal of Production Economics, Elsevier, vol. 263(C).
    4. Chen, Tao & Gao, Huasheng & Wang, Yuxi, 2021. "Tariff uncertainty and firm innovation: Evidence from the U.S.–China Permanent Normal Trade Relation," Journal of Empirical Finance, Elsevier, vol. 62(C), pages 12-27.
    5. Tao Chen & Chen Lin & Xiang Shao, 2022. "Globalization and U.S. Corporate Tax Policies: Evidence from Import Competition," Management Science, INFORMS, vol. 68(8), pages 6145-6162, August.

  2. Herkenhoff, Kyle & Phillips, Gordon M. & Cohen-Cole, Ethan, 2021. "The impact of consumer credit access on self-employment and entrepreneurship," Journal of Financial Economics, Elsevier, vol. 141(1), pages 345-371.

    Cited by:

    1. Zhou, Zhengyi, 2022. "The effects of state-led relocation on labor market participation: Evidence from China," China Economic Review, Elsevier, vol. 73(C).
    2. Jean-Noël Barrot & Erik Loualiche & Matthew Plosser & Julien Sauvagnat, 2017. "Import competition and household debt," Staff Reports 821, Federal Reserve Bank of New York.
    3. Craig Wesley Carpenter & Kristopher Deming & John Anders & Michael Lotspeich‐Yadao & Charles M. Tolbert & Adam Ingrao, 2024. "Do payday lending bans protect or constrain regional economies? Evidence from the Military Lending Act's final rule," Contemporary Economic Policy, Western Economic Association International, vol. 42(2), pages 319-335, April.
    4. Bu, Di & Liao, Yin, 2022. "Land property rights and rural enterprise growth: Evidence from land titling reform in China," Journal of Development Economics, Elsevier, vol. 157(C).
    5. Braxton, John Carter & Chikhale, Nisha & Herkenhoff, Kyle & Phillips, Gordon, 2024. "Intergenerational Mobility and Credit," IZA Discussion Papers 16826, Institute of Labor Economics (IZA).
    6. Ablam Estel Apeti & Jean-Louis Combes & Eyah Denise Edoh, 2023. "Entrepreneurship in developing countries: can mobile money play a role?," Working Papers hal-04081304, HAL.
    7. Dr. Md. Anowar Hossain & Brazendra Nath Roy & Md. Ali Hasan & Md. Shahadat Hossain, 2024. "Fostering Entrepreneurial Growth: The Impact of Institutional Credits," International Journal of Science and Business, IJSAB International, vol. 32(1), pages 65-73.
    8. Cumming, Douglas J. & Sewaid, Ahmed, 2021. "FinTech loans, self-employment, and financial performance," CFS Working Paper Series 667, Center for Financial Studies (CFS).
    9. Joshua Blonz & Brigitte Roth Tran & Erin Troland, 2023. "The Canary in the Coal Decline: Appalachian Household Finance and the Transition from Fossil Fuels," Working Paper Series 2023-09, Federal Reserve Bank of San Francisco.
    10. Zhu, Chen & Jin, Zhuo & Lee, Chien-Chiang, 2022. "The impact of informal care from children to their elderly parents on self-employment? Evidence from China," Economic Modelling, Elsevier, vol. 117(C).

  3. Laurent Frésard & Gerard Hoberg & Gordon M Phillips & Francesca Cornelli, 2020. "Innovation Activities and Integration through Vertical Acquisitions," The Review of Financial Studies, Society for Financial Studies, vol. 33(7), pages 2937-2976.
    See citations under working paper version above.
  4. Li, Minwen & Lu, Yao & Phillips, Gordon M., 2019. "CEOs and the Product Market: When Are Powerful CEOs Beneficial?," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 54(6), pages 2295-2326, December.

    Cited by:

    1. Xia, Li & Gao, Shuo & Wei, Jiuchang & Ding, Qiying, 2022. "Government subsidy and corporate green innovation - Does board governance play a role?," Energy Policy, Elsevier, vol. 161(C).
    2. Goergen, Marc & Limbach, Peter & Scholz-Daneshgari, Meik, 2019. "Firms’ rationales for CEO duality: Evidence from a mandatory disclosure regulation," CFR Working Papers 18-06, University of Cologne, Centre for Financial Research (CFR), revised 2019.
    3. Blank, D. Brian & Hadley, Brandy, 2021. "When CEOs adapt: An investigation of manager experience, policy and performance following recessions," Journal of Corporate Finance, Elsevier, vol. 71(C).
    4. Lingfei Kong & Gunratan Lonare & Ahmet Nart, 2022. "Industry tournament incentives and corporate innovation strategies," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 45(1), pages 124-161, March.
    5. Olga Dodd & Bart Frijns & Robin Kaiji Gong & Shushu Liao, 2024. "Board cultural diversity and firm performance under competitive pressures," The Financial Review, Eastern Finance Association, vol. 59(1), pages 89-111, February.
    6. Sheikh, Shahbaz, 2022. "CEO power and the likelihood of paying dividends: Effect of profitability and cash flow volatility," Journal of Corporate Finance, Elsevier, vol. 73(C).
    7. Mark Humphery‐Jenner & Emdad Islam & Lubna Rahman & Jo‐Ann Suchard, 2022. "Powerful CEOs and Corporate Governance," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 19(1), pages 135-188, March.
    8. Harris, Oneil & Nguyen, Trung, 2022. "Director co-option and future market share growth," The North American Journal of Economics and Finance, Elsevier, vol. 62(C).
    9. Bristy, Humyra Jabeen & Han, Jianlei & Tian, Gary Gang, 2022. "CEO power and labor-friendly policy," Pacific-Basin Finance Journal, Elsevier, vol. 71(C).
    10. Ahmed Imran Hunjra & Rashid Mehmood & Tahar Tayachi, 2020. "How Do Corporate Social Responsibility and Corporate Governance Affect Stock Price Crash Risk?," JRFM, MDPI, vol. 13(2), pages 1-15, February.
    11. Jaroenjitrkam, Anutchanat & Mihaylov, George & Yu, Chia‐Feng (Jeffrey) & Zurbruegg, Ralf, 2023. "Pulling together by paying together: The effect of product market competition on TMT incentive dispersion," Journal of Business Research, Elsevier, vol. 165(C).
    12. Lindsay Baran & Arno Forst & M. Tony Via, 2023. "Dual‐class share structure and innovation," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 46(1), pages 169-202, February.
    13. Jesper Haga & Fredrik Huhtamäki & Dennis Sundvik, 2022. "Ruthless Exploiters or Ethical Guardians of the Workforce? Powerful CEOs and their Impact on Workplace Safety and Health," Journal of Business Ethics, Springer, vol. 177(3), pages 641-663, May.
    14. Gunasekarage, Abeyratna & Luong, Hoa & Truong, Thanh Tan, 2020. "Growth and market share matrix, CEO power, and firm performance," Pacific-Basin Finance Journal, Elsevier, vol. 59(C).
    15. Rachel M. Hayes & Feng Jiang & Yihui Pan, 2021. "Voice of the Customers: Local Trust Culture and Consumer Complaints to the CFPB," Journal of Accounting Research, Wiley Blackwell, vol. 59(3), pages 1077-1121, June.
    16. Pham, Man Duy (Marty), 2022. "Management connection and firm performance: Evidence from Global Financial Crisis," Journal of Behavioral and Experimental Finance, Elsevier, vol. 34(C).
    17. Braga-Alves, Marcus V. & Ismailescu, Iuliana & Sen, Kaustav, 2022. "Powerful CEOs and their legacy: Evidence from credit risk around CEO turnovers," The Quarterly Review of Economics and Finance, Elsevier, vol. 84(C), pages 345-358.

  5. John (Jianqiu) Bai & Daniel Carvalho & Gordon M. Phillips, 2018. "The Impact of Bank Credit on Labor Reallocation and Aggregate Industry Productivity," Journal of Finance, American Finance Association, vol. 73(6), pages 2787-2836, December.
    See citations under working paper version above.
  6. Hoberg, Gerard & Phillips, Gordon M., 2018. "Text-Based Industry Momentum," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 53(6), pages 2355-2388, December.

    Cited by:

    1. Ge, S., 2020. "Text-Based Linkages and Local Risk Spillovers in the Equity Market," Cambridge Working Papers in Economics 20115, Faculty of Economics, University of Cambridge.
    2. Paul E. Soto, 2021. "Breaking the Word Bank: Measurement and Effects of Bank Level Uncertainty," Journal of Financial Services Research, Springer;Western Finance Association, vol. 59(1), pages 1-45, April.
    3. Yi, Biao & Guo, Shuxin, 2022. "Common analyst links and predictable returns: Evidence from China," The North American Journal of Economics and Finance, Elsevier, vol. 63(C).
    4. Du, Qianqian & Liang, Dawei & Chen, Zilin & Tu, Jun, 2022. "Concept links and return momentum," Journal of Banking & Finance, Elsevier, vol. 134(C).
    5. Bagnara, Matteo & Goodarzi, Milad, 2023. "Clustering-based sector investing," SAFE Working Paper Series 397, Leibniz Institute for Financial Research SAFE.
    6. Li, Scott, 2022. "Industry classification, industry momentum and short-term reversal," Finance Research Letters, Elsevier, vol. 48(C).
    7. Tobias Wiest, 2023. "Momentum: what do we know 30 years after Jegadeesh and Titman’s seminal paper?," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 37(1), pages 95-114, March.
    8. Xin Chen & Wei He & Libin Tao & Jianfeng Yu, 2023. "Attention and Underreaction-Related Anomalies," Management Science, INFORMS, vol. 69(1), pages 636-659, January.
    9. Noh, Joonki & Zhou, Dexin, 2022. "Executives’ Blaming external factors and market reactions: Evidence from earnings conference calls," Journal of Banking & Finance, Elsevier, vol. 134(C).

  7. Gordon M. Phillips & Giorgo Sertsios, 2017. "Financing and New Product Decisions of Private and Publicly Traded Firms," The Review of Financial Studies, Society for Financial Studies, vol. 30(5), pages 1744-1789.

    Cited by:

    1. Vojislav Maksimovic & Gordon M. Phillips & Liu Yang, 2019. "Do Public Firms Respond to Industry Opportunities More Than Private Firms? The Impact of Initial Firm Quality," NBER Working Papers 25634, National Bureau of Economic Research, Inc.
    2. French, Joseph J. & Fujitani, Ryosuke & Yasuda, Yukihiro, 2021. "Does stock market listing impact investment in Japan?," Journal of the Japanese and International Economies, Elsevier, vol. 59(C).
    3. Vojislav Maksimovic & Gordon Phillips & Liu Yang, 2023. "Do IPO Firms Become Myopic?," Review of Finance, European Finance Association, vol. 27(3), pages 765-807.
    4. Larrain, Borja & Sertsios, Giorgo & Francisco Urzúa I.,, 2021. "The going public decision of business group firms," Journal of Corporate Finance, Elsevier, vol. 66(C).
    5. Abdulla, Yomna & Dang, Viet Anh & Khurshed, Arif, 2020. "Suppliers' listing status and trade credit provision," Journal of Corporate Finance, Elsevier, vol. 60(C).
    6. Caio Machado & Ana Elisa Pereira, 2023. "Optimal Capital Structure with Stock Market Feedback," Review of Finance, European Finance Association, vol. 27(4), pages 1329-1371.
    7. Robert DeYoung & Lei Li, 2019. "Publicly Traded Versus Privately Held Commercial Banks: Sensitivity to Growth Opportunities," Journal of Financial Services Research, Springer;Western Finance Association, vol. 56(1), pages 39-71, August.
    8. Wang, Xin & Xie, Yan & Song, Di & Zhang, Weihua, 2022. "Do multiple large shareholders affect corporate bond yield spreads? Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 73(C).
    9. Dougal, Casey & Rettl, Daniel A., 2021. "Firm listing status and the investment home bias," Journal of Corporate Finance, Elsevier, vol. 71(C).
    10. Josh Lerner & Amit Seru, 2017. "The Use and Misuse of Patent Data: Issues for Corporate Finance and Beyond," NBER Working Papers 24053, National Bureau of Economic Research, Inc.
    11. Vojislav Maksimovic & Gordon M. Phillips & Liu Yang, 2017. "Do Public Firms Respond to Investment Opportunities More than Private Firms? The Impact of Initial Firm Quality," NBER Working Papers 24104, National Bureau of Economic Research, Inc.

  8. Laurent Frésard & Ulrich Hege & Gordon Phillips, 2017. "Extending Industry Specialization through Cross-Border Acquisitions," The Review of Financial Studies, Society for Financial Studies, vol. 30(5), pages 1539-1582.
    See citations under working paper version above.
  9. Gerard Hoberg & Gordon Phillips, 2016. "Text-Based Network Industries and Endogenous Product Differentiation," Journal of Political Economy, University of Chicago Press, vol. 124(5), pages 1423-1465.
    See citations under working paper version above.
  10. Ortiz-Molina, Hernán & Phillips, Gordon M., 2014. "Real Asset Illiquidity and the Cost of Capital," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 49(1), pages 1-32, February.

    Cited by:

    1. Giglio, Stefano & Feng, Guanhao & Xiu, Dacheng, 2020. "Taming the Factor Zoo: A Test of New Factors," CEPR Discussion Papers 14266, C.E.P.R. Discussion Papers.
    2. Andrew Coleman, 2019. "Liquidity, the government balance sheet, and the public sector discount rate," Working Papers 19_13, Motu Economic and Public Policy Research.
    3. Burke, Qing L. & Wang, Mengying & Xu, Xiaolu, 2020. "How does international trade affect U.S. corporate investment? Evidence from the asset tangibility channel," International Review of Economics & Finance, Elsevier, vol. 70(C), pages 41-54.
    4. Xin Deng & Cher Li & Simona Mateut, 2020. "Participation in setting technology standards and the implied cost of equity," Discussion Papers 2020-29, University of Nottingham, GEP.
    5. Wang, Mengying, 2017. "Does foreign direct investment affect host-country firms' financial constraints?," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 522-539.
    6. Cao Thi Mien Thuy & Nguyen Vinh Khuong & Nguyen Thi Canh & Nguyen Thanh Liem, 2022. "The mediating effect of stock price crash risk on the relationship between corporate social responsibility and cost of equity moderated by state ownership: Moderated‐mediation analysis," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1384-1395, September.
    7. Nettayanun, Sampan, 2023. "Asset pricing in bull and bear markets," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 83(C).
    8. Han-Hsing Lee, 2020. "Distress risk, product market competition, and corporate bond yield spreads," Review of Quantitative Finance and Accounting, Springer, vol. 55(3), pages 1093-1135, October.
    9. Huang, Guan-Ying & Huang, Henry Hongren & Lee, Chun I, 2020. "Taming the dark side of asset liquidity: The role of short-term debt," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 539-562.
    10. David H. Downs & Bing Zhu, 2022. "Property market liquidity and REIT liquidity," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(6), pages 1462-1491, November.
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    3. Le, Danh Vinh & Le, Huong Thi Thu & Vo, Lai Van, 2021. "The bright side of product market threats: The case of innovation," International Review of Economics & Finance, Elsevier, vol. 71(C), pages 161-176.
    4. Asgharian, Hossein & Liu, Lu, 2022. "Product market competition and stock return dependence," Finance Research Letters, Elsevier, vol. 50(C).
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    8. Abdoh, Hussein, 2023. "Rivals risk-taking incentives and firm corporate policy," The Quarterly Review of Economics and Finance, Elsevier, vol. 90(C), pages 106-123.
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    222. Weiju Young & Junming Hsu & Peng-Yu Gao & Tzu-Ju Yang, 2023. "Industry Competition, Market Shares, and the Long-Run Performance of SEO Firms," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 30(4), pages 845-867, December.
    223. Jongsub Lee & Hayong Yun, 2023. "Learning Production Process Heterogeneity Across Industries: Implications of Deep Learning for Corporate M&A Decisions," Papers 2301.08847, arXiv.org.
    224. Hong, Liu & Nikbakht, Ehsan & Zhou, Tianpeng, 2023. "Does product market competition affect the adoption of FinTech by non-financial firms?," Finance Research Letters, Elsevier, vol. 54(C).
    225. Chen, Jiyao & Shao, Diana & Fan, Shaokun, 2021. "Destabilization and consolidation: Conceptualizing, measuring, and validating the dual characteristics of technology," Research Policy, Elsevier, vol. 50(1).
    226. Cao, Zhangfan & Rees, William, 2020. "Do employee-friendly firms invest more efficiently? Evidence from labor investment efficiency," Journal of Corporate Finance, Elsevier, vol. 65(C).
    227. Hossain, Ashrafee T. & Masum, Abdullah-Al, 2022. "Does corporate social responsibility help mitigate firm-level climate change risk?," Finance Research Letters, Elsevier, vol. 47(PB).
    228. Hu, Xiaolu & Yu, Jing & Zhong, Angel, 2023. "The asymmetric effects of oil price shocks on green innovation," Energy Economics, Elsevier, vol. 125(C).
    229. Hongrui Feng & Yuecheng Jia, 2019. "Positive externalities of CEO delta," European Financial Management, European Financial Management Association, vol. 25(3), pages 591-621, June.
    230. Fang, Hongyan & Song, Zhihui & Nofsinger, John R. & Wang, Yuyue, 2017. "Trading restrictions and firm dividends: The share lockup expiration experience in China," Journal of Banking & Finance, Elsevier, vol. 85(C), pages 83-98.
    231. Gunasekarage, Abeyratna & Luong, Hoa & Truong, Thanh Tan, 2020. "Growth and market share matrix, CEO power, and firm performance," Pacific-Basin Finance Journal, Elsevier, vol. 59(C).
    232. Jan Felix Weidemann, 2018. "A state-of-the-art review of corporate cash holding research," Journal of Business Economics, Springer, vol. 88(6), pages 765-797, August.
    233. Tao Chen & Chen Lin & Xiang Shao, 2022. "Globalization and U.S. Corporate Tax Policies: Evidence from Import Competition," Management Science, INFORMS, vol. 68(8), pages 6145-6162, August.
    234. Xiaolu Xu & Leo L. Yang & Joseph H. Zhang, 2022. "How do auditors respond to client firms’ technological peer pressure? Evidence from going‐concern opinions," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(9-10), pages 1553-1580, October.
    235. Jie Cao & Hao Liang & Xintong Zhan, 2019. "Peer Effects of Corporate Social Responsibility," Management Science, INFORMS, vol. 65(12), pages 5487-5503, December.
    236. Benjamin Bennett & René M. Stulz & Zexi Wang, 2020. "Does Joining the S&P 500 Index Hurt Firms?," NBER Working Papers 27593, National Bureau of Economic Research, Inc.
    237. Li, Rui & Wan, Chi & Wang, Mengying, 2018. "U.S. corporate investment and foreign penetration: Imports and inward foreign direct investment," Journal of International Money and Finance, Elsevier, vol. 85(C), pages 124-144.
    238. Chang, Ching-Hung & Chen, Sheng-Syan & Chen, Yan-Shing & Peng, Shu-Cing, 2019. "Commitment to build trust by socially responsible firms: Evidence from cash holdings," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 364-387.
    239. Ajirloo, Bahman Fathi & Switzer, Lorne N., 2022. "Self-disclosed peer effects on corporate capital structure," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 78(C).
    240. Todd Mitton, 2022. "Methodological Variation in Empirical Corporate Finance," The Review of Financial Studies, Society for Financial Studies, vol. 35(2), pages 527-575.
    241. Einar C. Kjenstad & Anil Kumar, 2022. "The effect of real estate prices on peer firms," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(4), pages 1022-1053, December.
    242. Guzman, Jorge & Li, Aishen, 2019. "Measuring Founding Strategy," SocArXiv 7cvge, Center for Open Science.
    243. Hoberg, Gerard & Moon, S. Katie, 2017. "Offshore activities and financial vs operational hedging," Journal of Financial Economics, Elsevier, vol. 125(2), pages 217-244.
    244. Chunhua Chen & Dequan Jiang & Weiping Li, 2023. "Keeping up with the CSR Joneses: The impact of industry peers on focal firms’ CSR performance," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-12, December.
    245. Harris, Oneil & Glegg, Charmaine & Buckley, Winston, 2019. "Do co-opted boards enhance or reduce R&D productivity?," The North American Journal of Economics and Finance, Elsevier, vol. 50(C).
    246. Gbenga Adamolekun & Edward Jones & Hao Li, 2023. "Cash holding dynamics and competition intensity: Evidence from UK firms," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(1), pages 641-662, January.
    247. Chen Lin & Thomas Schmid & Michael S. Weisbach, 2017. "Price Risk, Production Flexibility, and Liquidity Management: Evidence from Electricity Generating Firms," NBER Working Papers 23434, National Bureau of Economic Research, Inc.
    248. Frederick Davis & Svetlana Davis & Xiaoyang Sha & Thomas Walker, 2022. "The impact of takeover anticipation on rival firms," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(7-8), pages 1264-1288, July.
    249. Asiri, Mohammed & Al-Hadi, Ahmed & Taylor, Grantley & Duong, Lien, 2020. "Is corporate tax avoidance associated with investment efficiency?," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).
    250. Lili Dai & Rui Shen & Bohui Zhang, 2021. "Does the media spotlight burn or spur innovation?," Review of Accounting Studies, Springer, vol. 26(1), pages 343-390, March.
    251. Atanasova, Christina & Li, Mingxin, 2019. "Do all diversified firms hold less cash? The role of product market competition," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 59(C), pages 134-152.
    252. Bernard, Darren & Blackburne, Terrence & Thornock, Jacob, 2020. "Information flows among rivals and corporate investment," Journal of Financial Economics, Elsevier, vol. 136(3), pages 760-779.

  12. Gordon M. Phillips & Alexei Zhdanov, 2013. "R&D and the Incentives from Merger and Acquisition Activity," The Review of Financial Studies, Society for Financial Studies, vol. 26(1), pages 34-78.
    See citations under working paper version above.
  13. Vojislav Maksimovic & Gordon Phillips & Liu Yang, 2013. "Private and Public Merger Waves," Journal of Finance, American Finance Association, vol. 68(5), pages 2177-2217, October.

    Cited by:

    1. Wang, Jian & Wang, Xiao, 2015. "Benefits of foreign ownership: Evidence from foreign direct investment in China," Journal of International Economics, Elsevier, vol. 97(2), pages 325-338.
    2. French, Joseph J. & Fujitani, Ryosuke & Yasuda, Yukihiro, 2021. "Does stock market listing impact investment in Japan?," Journal of the Japanese and International Economies, Elsevier, vol. 59(C).
    3. Ying Hao & Jing Lu, 2018. "The Impact of Government Intervention on Corporate Investment Allocations and Efficiency: Evidence from China," Financial Management, Financial Management Association International, vol. 47(2), pages 383-419, June.
    4. Viral V. Acharya & Zhaoxia Xu, 2013. "Financial Dependence and Innovation: The Case of Public versus Private Firms," NBER Working Papers 19708, National Bureau of Economic Research, Inc.
    5. Boehm, Johannes & Sonntag, Jan, 2019. "Vertical integration and foreclosure: evidence from production network data," LSE Research Online Documents on Economics 103401, London School of Economics and Political Science, LSE Library.
    6. Vojislav Maksimovic & Gordon Phillips & Liu Yang, 2023. "Do IPO Firms Become Myopic?," Review of Finance, European Finance Association, vol. 27(3), pages 765-807.
    7. Hu, Yichuan & Li, Chang & Qin, Cong, 2020. "The impact of regional financial depth on outbound cross-border mergers and acquisitions," Journal of International Money and Finance, Elsevier, vol. 104(C).
    8. Hanousek, Jan & Flannery, Mark & Shamshur, Anastasiya, 2020. "M&A Activity and the Capital Structure of Target Firms," CEPR Discussion Papers 14911, C.E.P.R. Discussion Papers.
    9. John (Jianqiu) Bai & Daniel Carvalho & Gordon M. Phillips, 2018. "The Impact of Bank Credit on Labor Reallocation and Aggregate Industry Productivity," Journal of Finance, American Finance Association, vol. 73(6), pages 2787-2836, December.
    10. Adra, Samer & Hamadi, Malika & Yuan, Jiayi, 2023. "Top-tier advisors and the market feedback dynamics in cross-border M&As," International Review of Financial Analysis, Elsevier, vol. 86(C).
    11. Andrea Caggese & Ander Pérez-Orive, 2018. "Capital misallocation and secular stagnation," Economics Working Papers 1637, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 2019.
    12. Shaojie Lai & Xiaoling Pu & Qing (Sophie) Wang & Jianing Zhang, 2023. "Reference prices and withdrawn acquisitions," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(4), pages 4365-4384, October.
    13. Khowaja, Kainat & Saef, Danial & Sizov, Sergej & Härdle, Wolfgang Karl, 2020. "Data Analytics Driven Controlling: bridging statistical modeling and managerial intuition," IRTG 1792 Discussion Papers 2020-026, Humboldt University of Berlin, International Research Training Group 1792 "High Dimensional Nonstationary Time Series".
    14. Xianna Hong & Qiuhua Chen, 2022. "Research on the Impact of Merges and Acquisition Type on the Performance of Listed Agricultural Enterprises—An Analysis of Mediator Effect Based on R&D Input," Sustainability, MDPI, vol. 14(5), pages 1-23, February.
    15. Marco Bade, 2020. "Determinants of IPO-firms’ merger appetite," Review of Managerial Science, Springer, vol. 14(1), pages 193-219, February.
    16. Slutzky, Pablo, 2021. "The hidden costs of being public: Evidence from multinational firms operating in an emerging market," Journal of Financial Economics, Elsevier, vol. 139(2), pages 606-626.
    17. Meghana Ayyagari & Asli Demirguc-Kunt & Vojislav Maksimovic, 2021. "Are large firms born or made? Evidence from developing countries," Small Business Economics, Springer, vol. 57(1), pages 191-219, June.
    18. Kang, Sunmin & Hwang, Intae & Song, Sooyoung, 2018. "Cash hoarding: Vice or virtue," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 53(C), pages 94-116.
    19. Mason, Paul & Stegemoller, Mike, 2022. "The importance of target information in the acquisition of privately held firms," Journal of Corporate Finance, Elsevier, vol. 77(C).
    20. Abdulla, Yomna & Dang, Viet Anh & Khurshed, Arif, 2020. "Suppliers' listing status and trade credit provision," Journal of Corporate Finance, Elsevier, vol. 60(C).
    21. Derrien, François & Frésard, Laurent & Slabik, Victoria & Valta, Philip, 2023. "Industry asset revaluations around public and private acquisitions," Journal of Financial Economics, Elsevier, vol. 147(1), pages 243-269.
    22. de Bodt, Eric & Cousin, Jean-Gabriel & Officer, Micah S., 2022. "Financial constraints, ownership dilution, and the method of payment in M&A transactions," Journal of Corporate Finance, Elsevier, vol. 75(C).
    23. Marc Berninger & Markus Klug & Dirk Schiereck, 2018. "Börsenrückzüge infolge steigender Corporate-Governance-Anforderungen – Empirische Evidenz von 13 europäischen Kapitalmärkten [Delistings due to Increased Corporate Governance Requirements – Empiric," Schmalenbach Journal of Business Research, Springer, vol. 70(4), pages 351-391, December.
    24. Aktas, Nihat & Baros, Aleksandra & Croci, Ettore, 2022. "Corporate divestitures around acquisitions," Journal of Corporate Finance, Elsevier, vol. 73(C).
    25. Leonidas G. Barbopoulos & Jo Danbolt, 2021. "The real effects of earnout contracts in M&As," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 44(3), pages 607-639, September.
    26. Dmytro Osiichuk & Paweł Wnuczak, 2023. "Do Corporate Consolidations Affect the Competitive Positioning of Non-Financial Firms in China?," SAGE Open, , vol. 13(4), pages 21582440231, December.
    27. Aktas, Nihat & Andries, Kathleen & Croci, Ettore & Ozdakak, Ali, 2019. "Stock market development and the financing role of IPOs in acquisitions," Journal of Banking & Finance, Elsevier, vol. 98(C), pages 25-38.
    28. Reddy, Kotapati Srinivasa, 2015. "Determinants of Cross-border Mergers and Acquisitions: A Comprehensive Review and Future Direction," MPRA Paper 63969, University Library of Munich, Germany, revised 2015.
    29. Barbara Fidanza, 2017. "Quali driver nella selezione delle target in operazioni di M&A? Una verifica empirica nel mercato italiano," Working Papers 52-2017, Macerata University, Department of Studies on Economic Development (DiSSE), revised Jan 2018.
    30. Alex Holcomb & Paul Mason, 2021. "The Effect of Industry Restructuring on Peer Firms," JRFM, MDPI, vol. 14(5), pages 1-25, May.
    31. Valentin Haddad & Erik Loualiche & Matthew Plosser, 2016. "Buyout Activity: The Impact of Aggregate Discount Rates," NBER Working Papers 22414, National Bureau of Economic Research, Inc.
    32. Xie, En & Reddy, K.S. & Liang, Jie, 2017. "Country-specific determinants of cross-border mergers and acquisitions: A comprehensive review and future research directions," Journal of World Business, Elsevier, vol. 52(2), pages 127-183.
    33. Thorburn, Karin S & Eckbo, B Espen & Makaew, Tanakorn, 2017. "Are stock- financed takeovers opportunistic?," CEPR Discussion Papers 11974, C.E.P.R. Discussion Papers.
    34. Debarati Bhattacharya & Wei-Hsien Li, 2020. "Wealth effects of relative firm value in M&A deals: reallocation of physical versus intangible assets," Review of Quantitative Finance and Accounting, Springer, vol. 55(4), pages 1513-1548, November.
    35. Lu, Erin P. & Lai, Gene C. & Ma, Qingzhong, 2017. "Organizational structure, risk-based capital requirements, and the sales of downgraded bonds," Journal of Banking & Finance, Elsevier, vol. 74(C), pages 51-68.
    36. Golubov, Andrey & Xiong, Nan, 2020. "Post-acquisition performance of private acquirers," Journal of Corporate Finance, Elsevier, vol. 60(C).
    37. Rainville, Megan & Unlu, Emre & Wu, Juan Julie, 2022. "How do stronger creditor rights impact corporate acquisition activity and quality?," Journal of Banking & Finance, Elsevier, vol. 144(C).
    38. Orihara, Masanori, 2017. "Stock market listing and corporate policy: Evidence from reforms to Japanese corporate law," Pacific-Basin Finance Journal, Elsevier, vol. 43(C), pages 15-36.
    39. Becher, David & Jensen, Tyler K. & Liu, Tingting, 2020. "Acquisitions and funding conditions," Journal of Corporate Finance, Elsevier, vol. 65(C).
    40. Cornaggia, Jess & Li, Jay Yin, 2019. "The value of access to finance: Evidence from M&As," Journal of Financial Economics, Elsevier, vol. 131(1), pages 232-250.
    41. Kim P. Huynh & Teodora Paligorova & Robert Petrunia, 2018. "Debt financing in private and public firms," Annals of Finance, Springer, vol. 14(4), pages 465-487, November.
    42. David Godsell & Ugur Lel & Darius Miller, 2023. "U.S. national security and de-globalization," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(8), pages 1471-1494, October.
    43. Harford, Jarrad & Uysal, Vahap B., 2014. "Bond market access and investment," Journal of Financial Economics, Elsevier, vol. 112(2), pages 147-163.
    44. Li‐Ying Huang & Gene C. Lai & Erin Lu & Michael McNamara, 2020. "Auditor quality, audit fees, organizational structure, and risk taking in the US life insurance industry," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 23(2), pages 151-182, June.
    45. Renneboog, Luc & Vansteenkiste, Cara, 2017. "Leveraged Buyouts : A Survey of the Literature," Discussion Paper 2017-015, Tilburg University, Center for Economic Research.
    46. Hong Zhu & Qi Zhu, 2016. "Mergers and acquisitions by Chinese firms: A review and comparison with other mergers and acquisitions research in the leading journals," Asia Pacific Journal of Management, Springer, vol. 33(4), pages 1107-1149, December.
    47. Bárcena-Ruiz, Juan Carlos & Garzón, María Begoña, 2020. "Mergers between local public firms," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).
    48. Da Rin, Marco & Di Giacomo, M. & Sembenelli, A., 2018. "Corporate Income Taxation, Leverage at Entry, and the Growth of Entrepreneurial Companies," Discussion Paper 2018-055, Tilburg University, Center for Economic Research.
    49. Barbopoulos, Leonidas G. & Adra, Samer & Saunders, Anthony, 2020. "Macroeconomic news and acquirer returns in M&As: The impact of investor alertness," Journal of Corporate Finance, Elsevier, vol. 64(C).
    50. Blomkvist, Magnus & Felixson, Karl & Löflund, Anders & Vyas, Hitesh, 2022. "Strategic underleveraging and acquisitions," Journal of Corporate Finance, Elsevier, vol. 76(C).
    51. Adra, Samer & Barbopoulos, Leonidas G. & Saunders, Anthony, 2020. "The impact of monetary policy on M&A outcomes," Journal of Corporate Finance, Elsevier, vol. 62(C).
    52. Masulis, Ronald W. & Reza, Syed Walid & Guo, Rong, 2023. "The sources of value creation in acquisitions of intangible assets," Journal of Banking & Finance, Elsevier, vol. 154(C).
    53. Yun Meng & Ninon K. Sutton, 2017. "Is the grass on the other side greener? Testing the cross-border effect for U.S. acquirers," Review of Quantitative Finance and Accounting, Springer, vol. 48(4), pages 917-937, May.
    54. Dimopoulos, Theodosios & Sacchetto, Stefano, 2017. "Merger activity in industry equilibrium," Journal of Financial Economics, Elsevier, vol. 126(1), pages 200-226.
    55. Holcomb, Alex & Mason, Paul & Zhang, Harold H., 2020. "Investment income taxes and private equity acquisition activity," Journal of Empirical Finance, Elsevier, vol. 59(C), pages 25-51.
    56. Takashi Yoshida, 2021. "The benefit of being public: Evidence from survival analysis of corporate financing," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 44(4), pages 839-874, December.
    57. Igor Semenenko, 2019. "Rumor Mill and Merger Waves: Analysis of Aggregate Market Activity," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 9(2), pages 1-5.
    58. Abdulla, Yomna & Dang, Viet Anh & Khurshed, Arif, 2017. "Stock market listing and the use of trade credit: Evidence from public and private firms," Journal of Corporate Finance, Elsevier, vol. 46(C), pages 391-410.
    59. Allen N. Berger & Tanakorn Makaew & Ms. Rima A Turk, 2018. "Who Pays for Financial Crises? Price and Quantity Rationing of Different Borrowers by Domestic and Foreign Banks," IMF Working Papers 2018/158, International Monetary Fund.

  14. Gordon Phillips & Giorgo Sertsios, 2013. "How Do Firm Financial Conditions Affect Product Quality and Pricing?," Management Science, INFORMS, vol. 59(8), pages 1764-1782, August.
    See citations under working paper version above.
  15. Vojislav Maksimovic & Gordon M. Phillips, 2013. "Conglomerate Firms, Internal Capital Markets, and the Theory of the Firm," Annual Review of Financial Economics, Annual Reviews, vol. 5(1), pages 225-244, November.

    Cited by:

    1. Morrow, John & Boehm, Johannes & Dhingra, Swati, 2019. "The Comparative Advantage of Firms," CEPR Discussion Papers 13699, C.E.P.R. Discussion Papers.
    2. Muhammad Ramzan & Wee‐Yeap Lau, 2023. "Impact of asset preferences on firm performance over its life cycle: Is agency theory or neo‐classical theory more relevant?," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(1), pages 595-607, January.
    3. Marin, Dalia & Doerr, Sebastian & Suverato, Davide & Verdier, Thierry, 2020. "Mis-allocation Within Firms: Internal Finance and International Trade," CEPR Discussion Papers 14478, C.E.P.R. Discussion Papers.
    4. Adam V. Reed & Pedro A. C. Saffi & Edward D. Van Wesep, 2021. "Short-Sales Constraints and the Diversification Puzzle," Management Science, INFORMS, vol. 67(2), pages 1159-1182, February.
    5. René M. Stulz, 2019. "FinTech, BigTech, and the Future of Banks," NBER Working Papers 26312, National Bureau of Economic Research, Inc.
    6. Cecilia R. Caglio & Adam Copeland & Antoine Martin, 2021. "The Value of Internal Sources of Funding Liquidity: U.S. Broker-Dealers and the Financial Crisis," Staff Reports 969, Federal Reserve Bank of New York.
    7. Caroline Flammer & Ioannis Ioannou, 2021. "Strategic management during the financial crisis: How firms adjust their strategic investments in response to credit market disruptions," Strategic Management Journal, Wiley Blackwell, vol. 42(7), pages 1275-1298, July.
    8. Carline, Nicholas F. & Gogineni, Sridhar, 2021. "Antitakeover provisions and investment in mergers and acquisitions: A causal reevaluation," Journal of Corporate Finance, Elsevier, vol. 69(C).
    9. Kim, Sehoon, 2020. "Disappearing Discounts: Hedge Fund Activism in Conglomerates," MPRA Paper 100876, University Library of Munich, Germany.
    10. Dai, Liang, 2018. "Asset bundling and information acquisition of investors with different expertise," Journal of Economic Theory, Elsevier, vol. 175(C), pages 447-490.
    11. Klimczuk-Kochańska, Magdalena, 2017. "Startup as a partner of cooperation for big company in the agri-food industry: Analysis of forms of cooperation on examples," MPRA Paper 84756, University Library of Munich, Germany.
    12. Giroud, Xavier & Dai, Min & Jiang, Wei & Wang, Neng, 2020. "A q Theory of Internal Capital Markets," CEPR Discussion Papers 15341, C.E.P.R. Discussion Papers.
    13. Mariassunta Giannetti & Xiaoyun Yu, 2021. "Adapting to Radical Change: The Benefits of Short-Horizon Investors," Management Science, INFORMS, vol. 67(7), pages 4032-4055, July.
    14. Kim, Hyonok & Wilcox, James A. & Yasuda, Yukihiro & 安田, 行宏, 2020. "Internal and External Lending by Nonfinancial Businesses," Working Paper Series G-1-23, Hitotsubashi University Center for Financial Research.
    15. Bai, Min & Fu, Yumei & Sun, Mingwei, 2023. "Corporate diversification and labor investment efficiency: Evidence from China," Economic Modelling, Elsevier, vol. 127(C).
    16. Giacinta Cestone & Chiara Fumagalli & Francis Kramaz & Giovanni Pica, 2015. "Insurance Between Firms: The Role of Internal Labor Markets," CSEF Working Papers 386, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 22 Jan 2020.
    17. Bhanot, Karan & Kadapakkam, Palani-Rajan, 2022. "Pay for performance, partnership success, and the internal organization of venture capital firms," Journal of Corporate Finance, Elsevier, vol. 75(C).
    18. Giacinta Cestone & Chiara Fumagalli & Francis Kramarz & Giovanni Pica, 2023. "Exploiting Growth Opportunities:The Role of Internal Labor Markets," Working Papers 686, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    19. Viswanathan Nagarajan & Pitabas Mohanty & Apalak Khatua, 2023. "Financing effects of corporate diversification: A review," Review of Managerial Science, Springer, vol. 17(7), pages 2555-2585, October.
    20. John (Jianqiu) Bai, 2021. "Organizational Form and Trade Liberalization: Plant-Level Evidence," Management Science, INFORMS, vol. 67(12), pages 7755-7784, December.
    21. Bruyland, Evy & Lasfer, Meziane & De Maeseneire, Wouter & Song, Wei, 2019. "The performance of acquisitions by high default risk bidders," Journal of Banking & Finance, Elsevier, vol. 101(C), pages 37-58.
    22. Akhigbe, Aigbe & Whyte, Ann Marie, 2015. "SEO announcement returns and internal capital market efficiency," Journal of Corporate Finance, Elsevier, vol. 31(C), pages 271-283.
    23. Mauricio Jara-Bertín & Cristian Pinto-Gutiérrez & Carlos Pombo, 2018. "The Effect of Intra-Group Loans on the Cash Flow Sensitivity of Cash: Evidence from Chile," Documentos CEDE 15993, Universidad de los Andes, Facultad de Economía, CEDE.
    24. René M. Stulz, 2022. "FinTech, BigTech, and the Future of Banks," Journal of Applied Corporate Finance, Morgan Stanley, vol. 34(1), pages 106-117, March.
    25. Michela Altieri & Giovanna Nicodano, 2020. "Survival and Pricing Puzzles," Carlo Alberto Notebooks 604, Collegio Carlo Alberto.
    26. Bressan, Silvia & Weissensteiner, Alex, 2021. "The financial conglomerate discount: Insights from stock return skewness," International Review of Financial Analysis, Elsevier, vol. 74(C).
    27. Xiao, Zhijie & Xu, Lan, 2019. "What do mean impacts miss? Distributional effects of corporate diversification," Journal of Econometrics, Elsevier, vol. 213(1), pages 92-120.
    28. Joseph J. Cabral & Chaoqun Deng & M. V. Shyam Kumar, 2020. "Internal Resource Allocation and External Alliance Activity of Diversified Firms," Journal of Management Studies, Wiley Blackwell, vol. 57(8), pages 1690-1717, December.
    29. Fahlenbrach, Rudiger & Rageth, Kevin & Stulz, Rene M., 2020. "How Valuable Is Financial Flexibility When Revenue Stops? Evidence from the COVID-19 Crisis," Working Paper Series 2020-07, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    30. Tokbolat, Yerzhan & Le, Hang, 2022. "Covid-19: Corporate diversification and post-crash returns," Finance Research Letters, Elsevier, vol. 46(PB).
    31. Jordan, Bradford D. & Li, Ang & Liu, Mark H., 2022. "Mutual fund preference for pure-play firms," Journal of Financial Markets, Elsevier, vol. 61(C).
    32. Sertsios, Giorgo, 2020. "Corporate finance, industrial organization, and organizational economics," Journal of Corporate Finance, Elsevier, vol. 64(C).
    33. Friberg, Richard, 2019. "All the bottles in one basket? Diversification and product portfolio composition," CEPR Discussion Papers 14119, C.E.P.R. Discussion Papers.
    34. Glaeser, Stephen, 2018. "The effects of proprietary information on corporate disclosure and transparency: Evidence from trade secrets," Journal of Accounting and Economics, Elsevier, vol. 66(1), pages 163-193.
    35. Hoang, Daniel & Gatzer, Sebastian & Ruckes, Martin E., 2018. "The economics of capital allocation in firms: Evidence from internal capital markets," Working Paper Series in Economics 115, Karlsruhe Institute of Technology (KIT), Department of Economics and Management.
    36. Benz, Andreas & Demerjian, Peter R. & Hoang, Daniel & Ruckes, Martin E., 2024. "Picking winners: Managerial ability and capital allocation," Working Paper Series in Economics 163, Karlsruhe Institute of Technology (KIT), Department of Economics and Management.
    37. Gatzer, Sebastian & Hoang, Daniel & Ruckes, Martin, 2015. "Internal Capital Markets and Diversified Firms: Theory and Practice," EconStor Preprints 169432, ZBW - Leibniz Information Centre for Economics.
    38. Surendranath Jory & Thanh Ngo & Jurica Susnjara, 2020. "Stock mergers and acquirers’ subsequent stock price crash risk," Review of Quantitative Finance and Accounting, Springer, vol. 54(1), pages 359-387, January.

  16. Gomes, Armando & Phillips, Gordon, 2012. "Why do public firms issue private and public securities?," Journal of Financial Intermediation, Elsevier, vol. 21(4), pages 619-658.
    See citations under working paper version above.
  17. Maksimovic, Vojislav & Phillips, Gordon & Prabhala, N.R., 2011. "Post-merger restructuring and the boundaries of the firm," Journal of Financial Economics, Elsevier, vol. 102(2), pages 317-343.
    See citations under working paper version above.
  18. Gerard Hoberg & Gordon Phillips, 2010. "Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis," The Review of Financial Studies, Society for Financial Studies, vol. 23(10), pages 3773-3811, October.
    See citations under working paper version above.
  19. Gerard Hoberg & Gordon Phillips, 2010. "Real and Financial Industry Booms and Busts," Journal of Finance, American Finance Association, vol. 65(1), pages 45-86, February.
    See citations under working paper version above.
  20. Vojislav Maksimovic & Gordon Phillips, 2008. "The Industry Life Cycle, Acquisitions and Investment: Does Firm Organization Matter?," Journal of Finance, American Finance Association, vol. 63(2), pages 673-708, April.

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    1. Xiaoyang Li, 2013. "Productivity, Restructuring, And The Gains From Takeovers," Working Papers 13-18, Center for Economic Studies, U.S. Census Bureau.
    2. Xavier Giroud & Holger M. Mueller, 2013. "Capital And Labor Reallocation Inside Firms," Working Papers 13-22, Center for Economic Studies, U.S. Census Bureau.
    3. Xavier Boutin & Giacinta Cestone & Chiara Fumagalli & Giovanni Pica & Nicolas Serrano-Velarde, 2009. "The Deep-Pocket Effect of Internal Capital Markets," Working Papers 2009.108, Fondazione Eni Enrico Mattei.
    4. Ayyagari, Meghana & Demirguc-Kunt, Asli & Maksimovic, Vojislav, 2014. "Does local financial development matter for firm lifecycle in India ?," Policy Research Working Paper Series 7008, The World Bank.
    5. Chan-Jane Lin & Tawei Wang & Chao-Jung Pan, 2016. "Financial reporting quality and investment decisions for family firms," Asia Pacific Journal of Management, Springer, vol. 33(2), pages 499-532, June.
    6. Stefano Elia & Lucia Piscitello & Sergio Mariotti, 2013. "Industrial Districts, Core Cities And Ownership Strategy Of Multinational Firms Investing In Italy," ERSA conference papers ersa13p27, European Regional Science Association.
    7. Vojislav Maksimovic & Gordon Phillips & Liu Yang, 2023. "Do IPO Firms Become Myopic?," Review of Finance, European Finance Association, vol. 27(3), pages 765-807.
    8. Ishii, Joy & Xuan, Yuhai, 2014. "Acquirer-target social ties and merger outcomes," Journal of Financial Economics, Elsevier, vol. 112(3), pages 344-363.
    9. Claudio Loderer & René Stulz & Urs Waelchli, 2017. "Firm Rigidities and the Decline in Growth Opportunities," Management Science, INFORMS, vol. 63(9), pages 3000-3020, September.
    10. Viju Raghupathi & Wullianallur Raghupathi, 2019. "Exploring science-and-technology-led innovation: a cross-country study," Journal of Innovation and Entrepreneurship, Springer, vol. 8(1), pages 1-45, December.
    11. Hanlon, Michelle & Heitzman, Shane, 2010. "A review of tax research," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 127-178, December.
    12. Liu Yang, 2008. "The Real Determinants of Asset Sales," Journal of Finance, American Finance Association, vol. 63(5), pages 2231-2262, October.
    13. Xavier Giroud & Holger M. Mueller, 2012. "Capital and Labor Reallocation Inside Firms," NBER Working Papers 18592, National Bureau of Economic Research, Inc.
    14. Viswanathan Nagarajan & Pitabas Mohanty & Apalak Khatua, 2023. "Financing effects of corporate diversification: A review," Review of Managerial Science, Springer, vol. 17(7), pages 2555-2585, October.
    15. Sergio Mariotti & Lucia Piscitello & Stefano Elia, 2014. "Local Externalities and Ownership Choices in Foreign Acquisitions by Multinational Enterprises," Economic Geography, Taylor & Francis Journals, vol. 90(2), pages 187-211, April.
    16. John (Jianqiu) Bai, 2021. "Organizational Form and Trade Liberalization: Plant-Level Evidence," Management Science, INFORMS, vol. 67(12), pages 7755-7784, December.
    17. Marco Pagano & Sam Langfield & Viral V. Acharya & Arnoud Boot & Markus K. Brunnermeier & Claudia Buch & Martin F. Hellwig & André Sapir & Ieke van den Burg, 2014. "Is Europe Overbanked?," Report of the Advisory Scientific Committee 4, European Systemic Risk Board.
    18. Meghana Ayyagari & Asli Demirguc-Kunt & Vojislav Maksimovic, 2021. "Are large firms born or made? Evidence from developing countries," Small Business Economics, Springer, vol. 57(1), pages 191-219, June.
    19. Allison, Lee & Liu, Yu & Murtinu, Samuele & Wei, Zuobao, 2023. "Gender and firm performance around the world: The roles of finance, technology and labor," Journal of Business Research, Elsevier, vol. 154(C).
    20. Gregor Matvos & Amit Seru, 2014. "Resource Allocation within Firms and Financial Market Dislocation: Evidence from Diversified Conglomerates," The Review of Financial Studies, Society for Financial Studies, vol. 27(4), pages 1143-1189.
    21. Armando Gomes & Gordon Phillips, 2005. "Why Do Public Firms Issue Private and Public Securities?," NBER Working Papers 11294, National Bureau of Economic Research, Inc.
    22. Wang, Wenyu, 2018. "Bid anticipation, information revelation, and merger gains," Journal of Financial Economics, Elsevier, vol. 128(2), pages 320-343.
    23. Yiming Hu & Siqi Li & Thomas W. Lin & Shilei Xie, 2011. "Large creditors and corporate governance: the case of Chinese banks," Review of Accounting and Finance, Emerald Group Publishing Limited, vol. 10(4), pages 332-367, November.
    24. Pasi Kuusela & Thomas Keil & Markku Maula, 2017. "Driven by aspirations, but in what direction? Performance shortfalls, slack resources, and resource-consuming vs. resource-freeing organizational change," Strategic Management Journal, Wiley Blackwell, vol. 38(5), pages 1101-1120, May.
    25. Giacomo Rodano & Emanuele Tarantino & Nicolas Serrano-Velarde, 2012. "Bankruptcy Law and the Cost of Banking Finance," Working Papers 1218, Oxford University Centre for Business Taxation.
    26. Stefan Erdorf & Thomas Hartmann-Wendels & Nicolas Heinrichs & Michael Matz, 2012. "Corporate Diversification and Firm Value: A Survey of Recent Literature," Cologne Graduate School Working Paper Series 03-01, Cologne Graduate School in Management, Economics and Social Sciences.
    27. Li, Xiaoyang & Low, Angie & Makhija, Anil K., 2011. "Career Concerns and the Busy Life of the Young CEO," Working Paper Series 2011-4, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    28. Jain, Bharat A. & Kini, Omesh & Shenoy, Jaideep, 2011. "Vertical divestitures through equity carve-outs and spin-offs: A product markets perspective," Journal of Financial Economics, Elsevier, vol. 100(3), pages 594-615, June.
    29. Rui Silva, 2013. "Internal Labor Markets And Investment In Conglomerates," Working Papers 13-26, Center for Economic Studies, U.S. Census Bureau.
    30. Hassan, M. Kabir & Alhenawi, Yasser, 2022. "Can information asymmetry explain both the post-merger value and the announcement discount in M&As?," International Review of Economics & Finance, Elsevier, vol. 77(C), pages 222-243.
    31. Gordon M. Phillips & Alexei Zhdanov, 2013. "R&D and the Incentives from Merger and Acquisition Activity," The Review of Financial Studies, Society for Financial Studies, vol. 26(1), pages 34-78.
    32. Mueller, Holger & Giroud, Xavier, 2015. "Capital and Labor Reallocation within Firms," CEPR Discussion Papers 10360, C.E.P.R. Discussion Papers.
    33. Abigail S. Hornstein & Zachary Nguyen, 2014. "Is More Less? Propensity to diversify via M&A and market reactions," Wesleyan Economics Working Papers 2014-002, Wesleyan University, Department of Economics.
    34. Sertsios, Giorgo, 2020. "Corporate finance, industrial organization, and organizational economics," Journal of Corporate Finance, Elsevier, vol. 64(C).
    35. Incheol Kim & Hong Wan & Bin Wang & Tina Yang, 2019. "Institutional Investors and Corporate Environmental, Social, and Governance Policies: Evidence from Toxics Release Data," Management Science, INFORMS, vol. 65(10), pages 4901-4926, October.
    36. Abu Amin & Blake Bowler & Mostafa Monzur Hasan & Gerald L. Lobo & Jiri Tresl, 2020. "Firm Life Cycle and Cost of Debt," CERGE-EI Working Papers wp665, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    37. Croce, Annalisa & Martí, José & Murtinu, Samuele, 2013. "The impact of venture capital on the productivity growth of European entrepreneurial firms: ‘Screening’ or ‘value added’ effect?," Journal of Business Venturing, Elsevier, vol. 28(4), pages 489-510.
    38. Silviano Esteve-Pérez & Fabio Pieri & Diego Rodriguez, 2018. "Age and productivity as determinants of firm survival over the industry life cycle," Industry and Innovation, Taylor & Francis Journals, vol. 25(2), pages 167-198, February.
    39. Li, Xiaoyang & Low, Angie & Makhija, Anil K., 2017. "Career concerns and the busy life of the young CEO," Journal of Corporate Finance, Elsevier, vol. 47(C), pages 88-109.
    40. Ismet GOCER & Sedat ALATAS & Osman PEKER, 2016. "Effects of R&D and innovation on income in EU countries: new generation panel cointegration and causality analysis," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(4(609), W), pages 153-164, Winter.
    41. Yize Hu & Jun Shan & Peixun Zhan, 2020. "Institutional Investors’ Corporate Site Visits and Firms’ Sustainable Development," Sustainability, MDPI, vol. 12(17), pages 1-17, August.
    42. Stefan Erdorf & Thomas Hartmann-Wendels & Nicolas Heinrichs & Michael Matz, 2013. "Corporate diversification and firm value: a survey of recent literature," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 27(2), pages 187-215, June.
    43. Mine Ertugrul & Erasmo Giambona, 2011. "Property Segment and REIT Capital Structure," The Journal of Real Estate Finance and Economics, Springer, vol. 43(4), pages 505-526, November.
    44. Fee, C. Edward & Hadlock, Charles J. & Pierce, Joshua R., 2012. "What happens in acquisitions?," Journal of Corporate Finance, Elsevier, vol. 18(3), pages 584-597.
    45. Azizjon Alimov, 2021. "Does product market competition discipline managers? Evidence from exogenous trade shock and corporate acquisitions," Working Papers 2021-ACF-05, IESEG School of Management.
    46. Amin, Abu & Bowler, Blake & Hasan, Mostafa Monzur & Lobo, Gerald J. & Tresl, Jiri, 2023. "Firm life cycle and cost of debt," Journal of Banking & Finance, Elsevier, vol. 154(C).
    47. Lin, Chen & Su, Dongwei, 2008. "Industrial diversification, partial privatization and firm valuation: Evidence from publicly listed firms in China," Journal of Corporate Finance, Elsevier, vol. 14(4), pages 405-417, September.
    48. Chou, Shu-Ching & Shih, Chia-Jung, 2020. "Like father, like son? Diversification decision and related performance of family firm successors – Evidence from Taiwan," The Quarterly Review of Economics and Finance, Elsevier, vol. 75(C), pages 209-220.

  21. Peter MacKay & Gordon M. Phillips, 2005. "How Does Industry Affect Firm Financial Structure?," The Review of Financial Studies, Society for Financial Studies, vol. 18(4), pages 1433-1466.

    Cited by:

    1. Vithessonthi, Chaiporn & Tongurai, Jittima, 2015. "The effect of firm size on the leverage–performance relationship during the financial crisis of 2007–2009," Journal of Multinational Financial Management, Elsevier, vol. 29(C), pages 1-29.
    2. Elsas, Ralf & Florysiak, David, 2008. "Empirical Capital Structure Research: New Ideas, Recent Evidence, and Methodological Issues," Discussion Papers in Business Administration 4743, University of Munich, Munich School of Management.
    3. Antonczyk, Ron Christian & Salzmann, Astrid Juliane, 2014. "Overconfidence and optimism: The effect of national culture on capital structure," Research in International Business and Finance, Elsevier, vol. 31(C), pages 132-151.
    4. Wang, Mengying, 2017. "Does foreign direct investment affect host-country firms' financial constraints?," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 522-539.
    5. Ricci, Lorenzo & Soggia, Giovanni & Trimarchi, Lorenzo, 2023. "The impact of bank lending standards on credit to firms," Journal of Banking & Finance, Elsevier, vol. 152(C).
    6. He, Wen & Hu, Maggie Rong & Mi, Lin & Yu, Jin, 2021. "How stable are corporate capital structures? International evidence," Journal of Banking & Finance, Elsevier, vol. 126(C).
    7. Mogha, Vipin & Williams, Benjamin, 2021. "Culture and capital structure: What else to the puzzle?," International Review of Financial Analysis, Elsevier, vol. 73(C).
    8. Xavier Boutin & Giacinta Cestone & Chiara Fumagalli & Giovanni Pica & Nicolas Serrano-Velarde, 2009. "The Deep-Pocket Effect of Internal Capital Markets," Working Papers 2009.108, Fondazione Eni Enrico Mattei.
    9. Dalida Kadyrzhanova & Antonio Falato, 2008. "Optimal CEO Incentives and Industry Dynamics," 2008 Meeting Papers 880, Society for Economic Dynamics.
    10. Philip Valta, 2010. "Competition and the Cost of Debt," Working Papers hal-00515913, HAL.
    11. Kyungbo Park & Hangook Kim & Jeonghwa Cha, 2023. "An Exploratory Study on the Development of a Crisis Index: Focusing on South Korea’s Petroleum Industry," Energies, MDPI, vol. 16(14), pages 1-24, July.
    12. Gomez-Gonzalez, Jose E. & Hirs-Garzón, Jorge & Uribe, Jorge M., 2022. "Interdependent capital structure choices and the macroeconomy," The North American Journal of Economics and Finance, Elsevier, vol. 62(C).
    13. Urionabarrenetxea, Sara & Garcia-Merino, Jose Domingo & San-Jose, Leire & Retolaza, Jose Luis, 2018. "Living with zombie companies: Do we know where the threat lies?," European Management Journal, Elsevier, vol. 36(3), pages 408-420.
    14. Katsiaryna Bardos & Steven E. Kozlowski & Michael R. Puleo, 2021. "Entrenchment or efficiency? CEO‐to‐employee pay ratio and the cost of debt," The Financial Review, Eastern Finance Association, vol. 56(3), pages 511-533, August.
    15. Francis, Bill & Hasan, Iftekhar & Mani, Sureshbabu & Ye, Pengfei, 2016. "Relative peer quality and firm performance," Journal of Financial Economics, Elsevier, vol. 122(1), pages 196-219.
    16. Nishihara, Michi & Shibata, Takashi, 2014. "Preemption, leverage, and financing constraints," Review of Financial Economics, Elsevier, vol. 23(2), pages 75-89.
    17. Youngdeok Lim, 2012. "Tax avoidance and underleverage puzzle: Korean evidence," Review of Quantitative Finance and Accounting, Springer, vol. 39(3), pages 333-360, October.
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    19. Nyanzu, Frederick & Quaidoo, Matthew, 2017. "Access to Finance Constraint and SMEs Functioning in Ghana," MPRA Paper 83202, University Library of Munich, Germany, revised Dec 2017.
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    49. Senay Agca & Volodymyr Babich & John Birge & Jing Wu, 2021. "Credit Shock Propagation Along Supply Chains: Evidence from the CDS Market," Working Papers 2021-18, The George Washington University, Institute for International Economic Policy.
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    6. Fang Fang & Baojun Jiang & Jiong Sun, 2023. "Partial vertical ownership in the presence of downstream competition," Production and Operations Management, Production and Operations Management Society, vol. 32(6), pages 1692-1704, June.
    7. Fiocco, Raffaele, 2016. "The strategic value of partial vertical integration," Working Papers 2072/267267, Universitat Rovira i Virgili, Department of Economics.
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