Cyber-risks have generated considerable interest in the media and in the public. Perhaps as a response, regulators are devoting an increasing amount of resources to improving corporate disclosure related to these risks. In contrast, we find that, despite this increased focus, cyber risk...

Extensive prior research documents significant inefficiencies of corporate capital expenditures. However, a firm's internal investment decision process remains mostly a black box. Using manually collected data, we document significant variations in capital expenditure budget execution....

We evidence that housing prices negatively affect local firms through a labor channel. Using a series of mandated flood disclosure laws as a quasi-natural shock to housing prices, we find that local labor markets become tighter when housing prices increase. This effect is stronger where renting...