We develop a mixed-duopoly model in which a private firm competes against a state owned enterprise (SOE) who cares about social welfare and is privately informed of market demand. When the SOE's social concerns are sufficiently important and when the market competitiveness is sufficiently low,...

Gray markets arise when an intermediary buys a product in a lower-priced, often emerging market and resells it to compete with the product’s original manufacturer in a higher-priced, more developed market. Evidence suggests that gray markets make the original manufacturer worse off globally by...

Gray markets arise when an intermediary buys a product in a lower-priced, often emerging market and resells it to compete with the product’s original manufacturer in a higher-priced, more developed market. Evidence suggests that gray markets make the original manufacturer worse off globally by...

Extant theory claims a firm's information environment impacts the choice between debt and equity financing. However, empirical evidence supporting this contention is limited. We evaluate this relation within the context of Regulation FD (Reg FD) which prohibited the use of selective disclosure....

While extensive research examines the relation between option incentives in executive compensation and risk-taking by managers, the impact of capital structure on this relationship has received little empirical attention. Prior work suggests that heightened managerial career concerns arising...