We investigate the relation between investor horizon and disclosure policy. We develop and analyze a rational expectations model where the original investors commit to a disclosure policy. Counter to casual intuition, short-horizon investors prefer more disclosure and are willing to bear costs...

Using data from U.S. corporate tax returns, we investigate the differential investment propensities of public and private firms. Tax return data uniquely provide rich detail on corporate investment reported under identical standards and is representative of the universe of U.S. corporations....

Does market power encourage or discourage investment? This is an open question due to theoretical ambiguity and empirical difficulties. The answer to this question is particularly important in the hospital market, where market power has increased dramatically since the 1990s. To answer this, we...

Using data from U.S. corporate tax returns, which provide a sample representative of the universe of U.S. corporations, we investigate the differential investment propensities of public and private firms. Re-weighting the data to generate observationally comparable sets of public and private...