We investigate the impact of employee treatment on labor investment efficiency. We provide evidence that employee-friendly treatment is significantly associated with lower deviations of labor investment from the level justified by economic fundamentals, i.e., higher labor investment efficiency....

This study investigates the impact of trade secrets protection on corporate employment decisions. By exploiting the staggered adoption of the Inevitable Disclosure Doctrine (IDD) by the U.S. state courts as an exogenous shock that significantly reduces employee mobility, we employ a...

In accounting models of value dividends typically appear to have a strong positive relationship with value despite theoretical reasons to expect dividend displacement. We show that this result is driven by the relationship between dividends and both core earnings and other information derived...

The collapse of the dot.com bubble in 2000 revealed the stark conflicts of interest faced by financial analysts. Since that time the market for their services has undergone substantive change in institutional and legal arrangement on both sides of the Atlantic. UK changes have been prompted by...