Essays in Empirical Corporate Finance

Abstract : This dissertation is made of four distinct chapters. The first chapter with Johan Hombert shows that when lending relationships are hurt, it reduces the number of innovative firms and foster inventor mobility who move out of geographical areas where lending relationships are hurt. The second chapter presents a work with Claire Célerier and shows that supply-side factors account for a large part of the unbanked household phenomenon in the US. The third chapter studies spillovers of innovation and shows that when some firms innovate less other firms in the same city innovate less in response and this effect declines sharply with distance. The fourth chapter with Olivier Dessaint presents evidence that managers systematically respond to near-miss liquidity shocks by temporarily increasing the amount of corporate cash holdings.
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Adrien Matray. Essays in Empirical Corporate Finance. Business administration. HEC, 2014. English. ⟨NNT : 2014EHEC0010⟩. ⟨tel-01126965⟩

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