We explore the valuation, tax and post-merger performance consequences of M&As with tax haven firms. Using an international sample of cross-border mergers over the period 1989 to 2010, we find that acquirers of tax haven firms decrease their effective tax rates significantly in two years...

Using 13,233 acquisitions from 57 countries, we examine M&A decisions made by busy boards. We find that few busy acquirers originate from emerging markets and that they tend to undertake cross-border mergers, favor public targets, finance with cash and equity, pursue non-diversifying mergers,...

Liquidity risk management is an important aspect in the organisation. In order to avoid efficiency, it is important for an organisation to manage liquidity risk. Hence, this study attempted to investigate the influence of firm-specific factors and macro-economic factors affecting liquidity risk...

Even with very aggressive growth assumptions for renewables, the role for oil and gas will grow, both in absolute terms and as a share of China’s total energy mix. And yet China’s domestic production of oil and gas continues to fall short and China’s need for expensive, foreign imports...

Do international trade and technological change influence how firms create incentives for human capital? I present a model that incorporates agency problems into a framework with firm heterogeneity and human capital. My model indicates that trade liberalizations and skill-biased technological...

We conduct a large-scale global study of ESG-linked pay for major firms that make up 85% of the market capitalization across 59 countries. We find that the pay adoption is higher for firms in extractive and utility industries, in countries that value individualism and femininity, have stronger...

Do international trade and technological change influence how firms create incentives for human capital? I present a model that incorporates agency problems into a framework with firm heterogeneity and human capital. My model indicates that trade liberalizations and skill-biased technological...

Research Question/Issue: We examine whether linking executive compensation to climate-related performance is associated with better firm-level climate change impact. We also explore the interaction of culture and climate-linked incentive compensation with climate change impact.Research...