2009 marks the 50th anniversary of the establishment of diplomatic relations between the Republic of Korea and Brazil. Looking into Korea's history of foreign affairs, Korea and Brazil's diplomatic relation can be categorized into two periods. The first period (1959~1992) is defined by the...

Directors are more likely to obtain additional directorships, especially at prestigious firms, if the CEOs of their current boards are well-connected. Recommended directors do not become beholden to the CEO, as CEO compensation is unaffected and an analysis of appointment announcement returns...

We examine the value impact of independent directors nominated by activists (Activist IDs). Firms appointing Activist IDs experience larger value increases than firms appointing other directors, particularly when Activist IDs have private firm experience and when their nominators remain as...

I examine whether suppliers modify trading strategies upon their customers’ unionization. I demonstrate that when customers unionize, suppliers experience negative stock returns and rely less on the unionized customers for sales. Results are robust to alternatively using a regression...

I examine whether suppliers modify trading strategies upon their customers’ unionization. I demonstrate that when customers unionize, suppliers experience negative stock returns and rely less on the unionized customers for sales. Results are robust to alternatively using a regression...

I examine whether suppliers modify trading strategies upon their customers’ unionization. I demonstrate that when customers unionize, suppliers experience negative stock returns and rely less on the unionized customers for sales. Results are robust to alternatively using a regression...

We find that labor market frictions affect a firm’s choice of growth strategy. Using the passage of the good faith exception as an exogenous shock to the cost of dismissing employees, firms significantly increase their strategic alliance activities, replacing internal investments and...