• Publications
  • Influence
Managerial Incentives and Internal Capital Markets
Capital budgeting in multidivisional firms depends on the external assessment of the whole firm, as well as on headquarters' assessment of the divisions. While corporate headquarters may create valueExpand
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Attracting Attention: Cheap Managerial Talk and Costly Market Monitoring
We provide a theory of informal communication-cheap talk-between firms and capital markets that incorporates the role of agency conflicts between managers and shareholders. The analysis suggests thatExpand
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Debt, Labor Markets and the Creation and Destruction of Firms
We analyze the financing and liquidation decisions of firms that face a labor market with search frictions. By inducing bankruptcy, debt can facilitate the process of creative destruction (i.e., theExpand
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Steel structures optimization to resist underwater shockwaves - explosive charges optimization
Steel structures are largely used in critical applications – such as in aerospace, marine and oil industries. Failure of these structures can often be catastrophic and the resulting damages can beExpand
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An efficient simulation of structures under pulse pressure loading
The class of physical problems of metal structures subject to rapid, large amplitude loads, such as occurs when they are submitted to an explosion blast, involves large deformations and inelasticExpand
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Labor Leverage , Coordination Failures , and Systematic Risk ∗
We study an economy where demand spillovers make firms’ production decisions strategic complements. Firms choose their operating leverage trading off higher fixed costs for lower variable costs.Expand