This paper quantitatively examines the marginal value of corporate cash holdings (MVC)—that is, the change in shareholder value resulting from an additional unit of cash. In a frictionless market, the marginal value of one unit of cash equals one. However, in reality, various frictions and constraints can cause MVC to deviate from this benchmark. For instance, financing constraints may restrict investment ...

This paper examines the design of rosters used to implement affirmative action in India’s public institutions.

This paper ​explores the impact of the “Verified Purchase” (VR) label on online review systems, with a focus on how platform-level policy changes influence both reviewer behavior and reader perception.