Much recent research in the economics of information has analyzed the implications of alternative market structures in the presence of qualitative characteristics which cannot be accurately and objectively measured or described. This approach avoids the more basic question of the influence of...

We propose a construct, the Trust Triangle, that highlights three primary mechanisms that provide ex post accountability for opportunistic behavior and motivate ex ante trust in economic relationships. The mechanisms are: (i) a society's legal and regulatory framework, (ii) market-based...

We examine the labor market consequences for directors who adopt poison pills. Directors who become associated with pill adoption experience significant decreases in vote margins and increases in termination rates across all their directorships. They also experience a decrease in the likelihood...