Annual Conference

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Corporate Finance

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May 2026

Unreadable Political Trades

Ziming DONG, Nancy R. XU, Xiaoyun YU
Legislators can disclose their stock trading transactions through either typed electronic filings (machine-readable) or handwritten/hand-delivered and subsequently scanned filings (largely “unreadable”), in the latter of which the disclosed information is more difficult to identify, extract, and...
Keywords: political networks, congressional trading record, strategic reporting, insider trading
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Annual Conference

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Corporate Finance

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May 2026

The Geoeconomics of Imports: Evidence from UN Security Council Elections

Yanduo CHEN, Jing WU
This paper examines how the United States utilizes imports as a tool of geoeconomic statecraft and how firms participate in it. Exploiting elections to the United Nations Security Council (UNSC), we show that U.S. publicly listed firms increase imports from a country by 16 percent when it rotates on...
Keywords: Geoeconomics, Global Supply Chain, Lobbying, Import
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Annual Conference

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Corporate Finance

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May 2026

China's Global Ownership

Jennie BAI, Yaojun KE, Luc LAEVEN, Hong RU
We study the global footprint and real effects of Chinese overseas investment by assembling a comprehensive micro-level dataset of China’s ownership in 161,773 firms across 159 countries (2012–2021). Tracing multi-layered ownership chains through tax havens to ultimate owners, we show that China...
Keywords: China, overseas investment, state-owned enterprises, innovation, ultimate ownership
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Annual Conference

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Corporate Finance

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May 2026

Acquiring Supplier Networks: Domestic Mergers for International Supply Chain Resilience

Ling CEN, Sudipto DASGUPTA, Isil EREL, Yanru HAN
Long-standing international supplier relationships represent valuable and hard-to-replicate intangible assets that mitigate the search and contracting frictions inherent in global value chains. We propose and show that domestic mergers and acquisitions (M&A) serve as a key strategic vehicle for ...
Keywords: Mergers and Acquisitions, Global value chains, International Supply Chain Resilience, Relational Capital
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Annual Conference

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Corporate Finance

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May 2026

Innovations and (Shocks to) Industry-Academia Collaboration

Anqi JIAO, Evgeny LYANDRES, Honglin REN
We examine how failures of academic integrity impact industry-university collaborations. Using university paper retractions as a shock to the credibility of upstream scientific knowledge, we show that retractions meaningfully weaken the innovative performance of connected firms. Firms linked to retr...
Keywords: Patents, retractions, innovation, R&D, integrity
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