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workshops, where earlier versions of the paper were presented under different titles. We would also like to thank Nick Bradley, Ian Byrne, George Dallas, and Laurie Kizik for providing us with S&P Transparency Rankings and CLSA Corporate Governance Scores, Mara Faccio and Larry Lang for their generosity in sharing their ownership data, and Vlad Charniauski(More)
In an economy with perfectly competitive capital and labor markets, we derive the optimal labor contract for firms with both equity and debt, and show that it implies employees will become entrenched and therefore face large human costs of bankruptcy. The firm's optimal capital structure emerges from a trade-off between these human costs and the tax(More)
Onychomycosis is a particular concern for active people because they're exposed to fungi in locker rooms and because hot, sweaty feet enable the infection to flourish. A thorough physical exam and potassium hydroxide exam of debris from the nail plate can help rule out look-alike conditions and provide information that will guide drug therapy. Treatment(More)