I investigate the relation between firm risk and firm transparency over the period 1992-2006 and find that the level of firm transparency and the level of firm risk are negatively related. I also find that higher CEO pay-performance sensitivity (delta) works to mitigate this inverse relationship. This result is consistent with Hermalin and Weisbach (2007) who suggest that managers reduce risk t...

This study investigates the relation between target firm-specific information and expected synergies in M&A. We find that expected synergies increase with pre-acquisition level of target firm specific information. This association is driven mainly by cross-industry acquisitions rather than within-industry acquisitions. Further analysis suggests that while acquirers’ shareholders benefit from ta...

Incentives and Welfare Effect of Sharing Firm-Specific Information by Jim Y. Jin* This paper studies the incentives and the welfare effect of sharing firm-specific information in asymmetric Cournot and Bertrand oligopoly with mixed substitute and complement goods. Revealing firm-specific cost information is the dominant strategy in Cournot oligopoly, while concealing is so in Bertrand oligopoly...

We introduce firm-specific returns to experience and tenure into a standard two-way fixed effects model, show that they are separately identified under the exogenous mobility assumption with sufficient between firm mobility, provide new evidence on heterogeneity of across firms using administrative data from Brazil over years 1999–2014. document (1) not strongly related wage premia, (2) negativ...