It is generally believed that pressure from peers induces employees to improve their efficiency and performance, b

AbstractWith hand-collected data on Chinese M&A agreements between 2010 and 2019, this paper reveals that some tar

This paper describes a new fact and then analyzes its implication for aggregate fluctuations: sticky-price firms o

We build a multi-sector spatial general equilibrium model that features heterogeneous firms and workers location choices to

We develop a dynamic model of DeFi (decentralized finance) lending incorporating the following key features: 1) bo

The first generic challenger to a branded drug tends to feature an investor base that has substantial stakes in

We show that firms collect more than 70% of their cash flow in the second half of the year We also find tha

In this paper, we argue that leasing is an important alternative way of capital reallocation We propose a broader measure of capital reallocation, which not only includes asset purchase and sale, but also considers lease Empirically, we show that the

Recently, Kurisu and Otsu (2022, Econometric Theory 38(1), 172-193) derived the uniform convergence rates for the

We propose a framework that jointly determines bilateral trading networks and risk allocation between banks Banks