While non-compete agreements (NCs) are prevalent, the incentives driving their use and their causal effects on workers remain poorly understood. We develop a model with asymmetric information to show that NCs shift the nature of allocative inefficiency by reducing inefficient quits and...

While non-compete agreements (NCs) are prevalent, the incentives driving their use and their causal effects on workers remain poorly understood. We develop a model with asymmetric information to show that NCs shift the nature of allocative inefficiency by reducing inefficient quits and...

Dividends allow shareholders to receive investment returns; however, Chinese listed companies are often reluctant to share profits with external minority shareholders, instead channeling funds into "tunneling" activities of major shareholders. By examining the China Securities Investor Service...

Dividends allow shareholders to receive investment returns; however, Chinese listed companies are often reluctant to share profits with external minority shareholders, instead channeling funds into 'tunneling' activities of major shareholders. By examining the China Securities Investor Service...

Previous authors have asserted that precautionary saving will arise only if consumers are not only risk-averse but also prudent, but in this paper, we first show that when saving occurs in the context of a financial economy featuring at least one other asset, prudence is neither necessary, nor...

Previous authors have asserted that precautionary saving will arise only if consumers are not only risk-averse but also prudent, but in this paper, we first show that when saving occurs in the context of a financial economy featuring at least one other asset, prudence is neither necessary, nor...