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Essays In Empirical Corporate Finance, Francisco Marcet

Doctor of Business Administration Dissertations

This dissertation presents three essays in empirical corporate finance. In the first two essays, I examine the effect of analyst coverage network on US firms' corporate decisions and stock return comovement in emerging markets. The third essay discusses the importance of performance pay and CEO functional background in explaining firm performance in the short- and long-run. In the first chapter, which is a joint work with Armando Gomes, Radha Gopalan and Mark Leary, we show that sell-side analysts play an important role in propagating corporate financial policy choices, such as leverage and equity issuance decisions across firms. Using exogenous characteristics …