Labor markets are not perfectly competitive: Monopsony power enables employers to pay
workers less than the marginal revenue product of labor. We review three theoretical …

2.0. According to new data covering the first six months of 2023, 2023 is set to shatter all
records as the most profitable year yet for big corporations. 148 of the world's biggest …

The final version of the 2023 Merger Guidelines, which were issued in December 2023, is a
vast improvement over an earlier draft—which indicates that the Agencies took the many …

Using resume data on over 20 million US workers, we find that the flow of employees
between a pair of firms sharply drops by about 20% when the firms start to share a director …

This paper studies the effect of antitrust enforcement on venture capital (VC) investments
and VC-backed companies. To establish causality, I exploit the DOJ's decision to close …

We study the Colombian energy market, where diversified energy firms strategically
substitute thermal generation for hydropower before droughts. This withinfirm substitution …

This thesis includes three essays in corporate finance and corporate governance. In the first
paper, we investigate the redistribution effects among firm stakeholders of increased …

Ce document est soumis aux droits d'auteur, mais peut être utilisé librement à des fins de
plaidoyer, de campagne, d'éducation et de recherche moyennant mention complète de la …

We construct and compare aggregate measures of profits for the US non-financial corporate
sector over the period 1946–2016. The measures commonly show that the profit share is …