We show that firms gain visibility and shareholder base through disclosing supply-chain relationships with large and well-known trading partners in their SEC filings. Using a novel research design that focuses on the investor recognition effect of disclosures, we find a significant improvement...

We study information production and diffusion resulting from dynamic interactions between different types of informed investors in financial markets. Using a theoretical framework that exploits the setting of the Q&A section of earnings conference calls, we predict that information production...

In the presence of litigation facing suppliers, the supply-chain relationship is at risk. Suppliers with principal customers (dependent suppliers) have a higher concentration of sales to customers, and they are more at risk relative to suppliers without principal customers (non-dependent...

We investigate whether firms in close customer-supplier relationships are better able to identify and implement tax avoidance strategies via supply chains. Consistent with our prediction, we find that both principal customers and their dependent suppliers avoid more taxes than other firms....

We investigate the diffusion of tax planning across firms, and the real effects and sharing of benefits from such diffusion. Using supply chain relationships among firms as a possible diffusion channel, we find that tax planning spreads from principal customers to their dependent suppliers. We...

This paper provides evidence of price feedback effects in a supply-chain setting using the speed with which information diffuses from customer to supplier stock prices to identify private supply-chain information in prices. We find that the speed of supply-chain information diffusion positively...