Would you rather receive $1,000 each day for one month or a magic penny that doubles each day over the same month? At first glance, this counterintuitive

Precautionary-motive and agency reasons for corporate cash management Bates, Kahle, and Stulz (JF 2009) empirically find that public firms have doubled t

The Chinese administration delivers a written response to U.S. demands for trade reforms. This strategic move helps trigger more formal negotiations between

The World Economic Forum warns that artificial intelligence may destabilize the financial system. Artificial intelligence poses at least a trifecta of major

Many successful business organizations develop their distinctive capabilities and unique value propositions for strategic reasons. Paul Leinwand and Cesa

In the past decades, capital market liberalization and globalization have combined to connect global financial markets to allow an ocean of money to flow th