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Advanced Search Results For "EXTERNALITIES"

1 - 10 of 19,612 results for
 "EXTERNALITIES"
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Quick or Broad Patents? Evidence from U.S. Startups.

Publication Type:Academic Journal

Source(s):Review of Financial Studies. Jun2022, Vol. 35 Issue 6, p2705-2742. 38p.

Abstract:We study the effects of patent scope and review times on startups and externalities on their rivals. We leverage the quasi-random assignment of U.S. patent applications to examiners and find that grant delays reduce a startup's employment and sales gro...

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Short-Termism Spillovers from the Financial Industry.

Publication Type:Academic Journal

Source(s):Review of Financial Studies. Jul2022, Vol. 35 Issue 7, p3467-3524. 58p.

Abstract:To meet short-term benchmarks, lenders may alter their monitoring behavior, providing a channel for short-termism to spill over to their borrowers. We find that short-termist lenders are significantly more likely to enforce covenant breaches. This beha...

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Capital Spillover, House Prices, and Consumer Spending: Quasi-Experimental Evidence from House Purchase Restrictions.

Publication Type:Academic Journal

Source(s):Review of Financial Studies. Jun2022, Vol. 35 Issue 6, p3060-3099. 40p.

Abstract:We use a unique quasi-experiment–spillovers from the imposition of purchase restrictions on local housing to nearby unregulated cities–to study the effects of out-of-town housing demand on house prices and consumer spending. While these restrictions ef...

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Theory of Liquidity Spillover between Bond and CDS Markets.

Publication Type:Academic Journal

Source(s):Review of Financial Studies. May2022, Vol. 35 Issue 5, p2525-2569. 45p.

Abstract:I build a search model of bond and credit default swap (CDS) markets with endogenous investor participation and show that shorting bonds through CDS increases the liquidity and price of bonds. By allowing investors to trade the credit risk of bonds wit...

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GLUE OR GASOLINE? THE ROLE OF INTERORGANIZATIONAL LINKAGES IN THE OCCURRENCE AND SPILLOVER OF COMPETITIVE WARS.

Publication Type:Academic Journal

Source(s):Academy of Management Journal. Feb2022, Vol. 65 Issue 1, p304-330. 27p. 2 Charts, 4 Graphs.

Abstract:Despite their prevalence and significance, competitive wars have received limited attention in the strategy literature. Our knowledge of how interorganizational linkages influence competitive wars is particularly lacking. Drawing on the social embedded...

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The Association between Mandated Environmental Liability Recognition and Voluntary ESG Disclosure Quality.

Publication Type:Report

Source(s):INSEAD Working Papers Collection. 2022, Issue 38, p1-50. 51p.

Abstract:We examine the association between mandated Asset Retirement Obligations (ARO), i.e., environmental cleanup costs of normal operations estimated on the balance sheet, and the quality of voluntary ESG disclosures. We hypothesize that when firms recogniz...

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Externalities as Arbitrage.

Publication Type:Report

Source(s):Working Papers (Faculty) -- Stanford Graduate School of Business. 2022, preceding p1-83. 84p.

Abstract:How can we assess whether macro-prudential regulations are having their intended effects? If these regulations are optimal, their marginal benefit of addressing externalities should equal their marginal cost of distorting risksharing. These risk-sharin...

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Information Externalities, Funding Liquidity, and Fire Sales.

Publication Type:Report

Source(s):Working Papers -- U.S. Federal Reserve Board's Finance & Economic Discussion Series. Aug2022, p1-81. 81p.

Abstract:We develop a theory of learning in a model of fire sales and collateralized debt to study how beliefs about fundamentals are shaped by market conditions. Agents exchange short-term debt contracts to invest in a long-term risky asset, and receive shocks...

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Spatial Spillover Effects in Civil Litigation: Evidence from Chinese Provinces.

Publication Type:Academic Journal

Source(s):UCLA Pacific Basin Law Journal. Spring2022, Vol. 39 Issue 1, p1-23. 23p.

Abstract:There is a rich literature that utilizes state, province, and other sub-regional data to evaluate the causes and effects of civil litigation. Yet, issues of spatial dependence are often neglected in this context. In the current study, we argue that civ...

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On the social opportunity cost of unemployment.

Publication Type:Academic Journal

Source(s):Journal of Economic Policy Reform. Sep2022, Vol. 25 Issue 3, p229-239. 11p.

Abstract:The handling of unemployment is a central issue in cost–benefit analysis. Typically, the shadow price of employing an unemployed is derived by considering a marginal change in the employment constraint faced by an unemployed or rather an underemployed....

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