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Governing Multiple Firms. Alex Edmans. LBS, CEPR, and ECGI. Doron Levit. Wharton. Devin Reilly. UPenn. September 1, 2016. Abstract. Conventional wisdom is that, when an investor owns multiple firms, governance is. weaker because she is spread too

24 Sep 2021: Our approach and choice of experiment help overcoming the challenging endogenous.

26 Jun 2023: controls in Z is that because they are endogenous, the adoption of an all-item anti-plug molding. ... while still controlling for time shocks that could differentially affect firms of different endogenous.

the informational content of endogenous trading times (e.g. Li et al. ... 2004), among others. As endogenous sampling times contribute to the overall variation of our.

Finally, we propose a robust identification to the endogenous relationship between director network connections and firm value.

19 Jun 2024: On the theory side, I develop these results in a stochastic general equilibrium model frame-work with an endogenous debt portfolio choice. ... I extend the framework by Cole & Kehoe(2000). In my model, the government can make an endogenous choice about

robust identification to the endogenous relationship between director network. connections and firm value.

imperfectly informed investors, together with an endogenous influx of new investors,.

How do they affect thefirm’s policies? Outline. I Dynamic structural model with endogenous investment andfinancing (with long–term debt with no covenants) decided byshareholders, who deviate from firm value maximization.

19 Jun 2024: For now, Vs is treated as exogenous - it is made endogenous in the next subsection. ... The endogenous flow of entry is then Vs/σ̃. Equilibrium conditions. At present, the equilibrium objects Vd, Vs, V M and (ς, ω) are determined forany given meeting

10 Jan 2023: Session 6 – chair: D’Maris Coffman. 16:00 Paper 11: Social security, endogenous retirement and intra-household.

2. but are limited, because they do not allow for endogenous means of payment. ... tion of the general model with arbitrary cash constraints. We show that there is endogenous selection.

fewer of them will be available. Of course, safe asset scarcity must be an endogenous phenomenon. ... endogenous changes in uninformed demand. Gorton and Pennacchi (1990) also analyze the equilibrium supply of riskless debt in a setting.

Lorenzo Ductor, Middlesex); Complexity, institutions and endogenous fragility (Matthew. Elliott, Cambridge) and Theory and experiments on network formation (Sanjeev Goyal,.

9 Sep 2021: municipal financing and default to a somewhat endogenous tax base. While Gordon and.

In this way,. uncertainty aversion generates endogenous contagion and becomes a source of systemic risk. ... 2.2 Endogenous Beliefs. An important implication of uncertainty aversion is that the investors’belief on the parameter θ.

by net worth). Indeed, these variables are the two relevant (endogenous) state variables in. ... on a credit line below. 5Because our focus in not on endogenous costs of distress, as in Hennessy and Whited (2005) we make theassumption of riskfree debt in

based on a noisy rational expectations equilibrium framework with endogenous ad-. ... endogenous lemons problem resulting from varying degrees of informed trading activ-.

26 Jun 2023: To further address the endogenous nature of firms’ decision to establish CSR. ... account for the endogenous nature of CSR committee formation, nor do they control for firms’.

1. ever, because of the endogenous convexity in the payoff structure, such contract necessarily.