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Multinational Firms, Internal Capital Markets, and the Value of Global Diversification
(World Scientific Pub Co Pte Lt, 2016-06)
<jats:p> Over the past 30 years, multinational firms’ investment grew four times faster than worldwide GDP. Yet the evidence on whether global diversification is valuable is inconclusive. This paper uses detailed foreign ...
Ownership Structure, Limits to Arbitrage, and Stock Returns: Evidence from Equity Lending Markets
(Oxford University Press (OUP), 2016-12)
Information Sharing and Rating Manipulation
(Oxford University Press (OUP), 2017-09-01)
How Voluntary Information Sharing Systems Form: Evidence from a U.S. Commercial Credit Bureau
We use the introduction of a U.S. commercial credit bureau to study when lenders adopt voluntary information sharing technology and the resulting consequences for competition and credit access. Our results suggest that ...