We use the COVID shock to study the direct and interactive effects of several forms of
corporate flexibility on short-and long-term real business plans. We find that i) workplace …

Modern-day firms, both small and medium enterprises (SMEs) and large listed firms (LLFs)
practice distinct investment appraisal approaches known as conventional and sophisticated …

Using a novel data set of US residential land developments, we document that the average
time to develop residential properties—which includes both the time spent preparing land …

We propose a three-phase framework for develo** sentence-level measures of
uncertainty based on Japanese annual reports using the Bidirectional Encoder …

Foreign direct investment (FDI) may represent an expansion in the domestic capital supply,
which could thus increase GDP growth through the investment and consumption sectors and …

How do investment friction and information friction interact? We study this question in a
stylized continuous time model of heterogeneous firms facing incomplete information and …

This research observes the effect of uncertainty on corporate cash holding. Uncertainty
drives up asymmetric information problems, increasing companies' external capital costs. As …

Time-to-build of an investment project induces a discrepancy between the timing of
investment and that of revenue generation. Jeon (2024b) showed that uncertainty in the time …

We study how the availability of data in modern economies shapes the propagation of
cyclical fluctuations and the effectiveness of monetary policy along the business cycle. We …

How do investors choose the intensity of their due diligence, and how does that choice affect
investment outcomes? Using cell phone signal data, we measure the duration of pre …