This paper provides empirical evidence that emerging market economies adjust capital flow management in response to U.S. monetary policy shocks. Using these shocks as exogenous instruments, we find that such adjustments cause changes to portfolio capital flows — in particular, a one standard...

This paper provides empirical evidence that emerging market economies adjust capital flow management in response to U.S. monetary policy shocks. Using these shocks as exogenous instruments, we find that such adjustments cause changes to portfolio capital flows — in particular, a one standard...

This paper examines the impact of product market competition and corporate governance on the cost of debt financing and the use of bond covenants. We find that more antitakeover provisions are associated with a lower cost of debt only in competitive industries. Because they are exposed to higher...