Prior research suggests that managers often fail to complete announced open market repurchase (OMR) plans due to uncertainty in the firm's future cash flows. Although high-ability managers should manage cash flows more effectively to complete share reacquisitions, there is little evidence to...

With mounting interest in the interaction between trade and imperfectly competitive labor markets, this paper proposes a novel product quality upgrading mechanism to link the two. This paper extends the Melitz model by incorporating monopsonistically competitive labor markets and firms'...