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The dividend initiation decision : theory and evidence
(Massachusetts Institute of Technology, 2015)
This paper develops and tests a dynamic, sequential equilibrium model of corporate cash payout policy that endogenizes a firm's dividend initiation decision, and its extreme reluctance to subsequently cut dividends in a ...
Essays in financial economics
(Massachusetts Institute of Technology, 2016)
In the first chapter, I examine how financial constraints affect asset allocation, and consequently productivity and asset values. Using a unique dataset of agricultural outcomes, I explore how farmers respond to exogenous ...