We propose a new globally convergent dynamic auction for selling multiple indivisible items. There are two sets of items, items in each set can be heterogenous but are substitutes, and items across the two sets are complements. Each bidder may demand several items. In each round of the auction,...

Suppliers that are farther away from their customers make more relationship-specific investments (RSI). This association is more pronounced when it is less costly for the customer to switch to alternative suppliers and when the supplier operates in relatively opaque information environments....

We examine how workplace injury rates change when firms are subject to a corporate tax shock. We find that tax increases lead to a significance increase in reported injuries, but tax decreases have no similar effect. Our difference-in-differences empirical strategy relies on staggered...

We find that the positive impact of a firm’ own innovations on its own growth is similar in more and less competitive industries. In contrast, the negative impact of rival firms’ innovations on a firm’s growth (creative destruction) is significantly stronger in less competitive industries,...

Using staggered climatic disasters in the U.S, we find that earnings forecasts by analysts who experienced a major climatic disaster become less accurate than those by the unaffected analysts within three months after the disaster due to distracted attention. Stock prices respond less strongly...

Consistent with the monitoring role of analysts, we find work-related injury rates are negatively related to higher levels of analyst coverage. This result is robust to approaches designed to mitigate endogeneity concerns and is stronger in industries where unions are less powerful, for firms...

The proliferation of copycats poses a severe threat to brand manufacturers in the e-commerce era. Product innovation is a key strategy for brand manufacturers to enhance their market competitiveness and effectively combat copycats, which also may be beneficial or harmful to the environment. Yet,...

We evaluate the impact of SARS-CoV-1 infection rates on inbound cross-border mergers & acquisitions (M&As) in China. Using transaction level data on cross-border M&As from 2002 to 2005, we show that Chinese provinces that experienced high level of SARS-CoV-1 infection rates, also suffered a...