Business Economics and Finance

Raicho Bojilov

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David Buchuk

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Carlos Burga

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Álvaro Bustos

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Andrés Elberg

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Andrés González Lira

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Juan Pablo Gorostiaga

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Borja Larraín

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Gastón Llanes

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Rosario Macera

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Ricardo Montoya

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Antonio Moreta

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Carlos Noton

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Carlos Parra

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Joaquín Poblete

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Cristián Ramírez

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Francisco Ruiz-Aliseda

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Gustavo Saraiva

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Consuelo Silva

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Jorge Tarziján

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José Tessada

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Marcela Valenzuela

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Eduardo Walker

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Selected Publications

- Elberg Sheward, Andres Eduardo and Noton, Carlos (forthcoming), «What Do Trade Allowances Look Like? Evidence from Actual Payments to a Big-Box Retailer,» Management Science.

- Escobar, Diego, Jeanne Lafortune, José Tessada (forthcoming), «Men, Women, and Capital: Estimating Substitution Patterns Using a Size and Gender-Dependent Childcare Policy in Chile,» Journal Of Labor Economics.

- Moreta, Antonio (forthcoming), “Reporting Regulation and Private Firms’ Bank Credit”, Journal of Accounting Research.

- Parra Castellanos, Carlos Rafael (forthcoming), «The Effect of Principal Reduction on Household Distress: Evidence from Mortgage Cramdown,» Review Of Financial Studies.

- Larrain, Borja; Phillips, Gordon; Sertsios, Giorgo; and Urzua, Francisco (2025), «The Effects of Going Public on Firm Profitability and Strategy,» Review Of Financial Studies.

- Aldunate, Felipe; Da, Zhi; Larrain, Borja; and Sialm, Clemens (2025), «Pension Fund Flows, Exchange Rates, and Covered Interest Rate Parity», Journal Of Financial Economics.

- Beck, Thorsten; Silva Buston, Consuelo; and Wagner, Wolf (2025), «Supervisory cooperation and regulatory arbitrage,» Review Of Finance.

- Larrain, Borja; Sertsios, Giorgo; Roosenboom, Peter; and Urzua, Francisco (2024), «Ownership Concentration and Firm Value: New Evidence from Owner Stakes in IPOs,» Management Science.

- Macera Parra, Rosario (2024), «The Roles of Selection and Practice in Mitigating Negative Responses to High-Powered Incentives,» Experimental Economics.

- Poblete Lavanchy, Joaquin Jose (2024), «Organizational Culture, Adaptation and Performance,» Organization Science.

- Valenzuela Bravo, Marcela Andrea (2024), «Trader Competition in Fragmented Markets: Liquidity Supply versus Picking-Off Risk,» Journal Of Financial And Quantitative Analysis.

- Beck, Thorsten; Silva Buston, Consuelo; and Wagner, Wolf (2023), «The Economics of Supranational Bank Supervision,» Journal Of Financial And Quantitative Analysis.

- Valenzuela Bravo, Marcela Andrea (2023), «The impact of risk cycles on business cycles: a historical view,» Review Of Financial Studies.

- Elberg Sheward, Andres Eduardo (2022), «Identifying Food Labeling Effects on Consumer Behavior,» Marketing Science.

- Llanes, Gaston, and; Ruiz-Aliseda, Francisco (2021), «Private Contracts in Two-Sided Platforms,» RAND Journal of Economics, 52(4) 815-838.

- Tarzijan Martabit, Jorge (2021), «Can firms be both broad and deep? Exploring interdependencies between horizontal and vertical firm scope,» Journal Of Management.

- Buchuk, David; Larrain, Borja; Prem, Mounu; and Urzua, Francisco (2020), «How Do Internal Capital Markets Work? Evidence from the Great Recession,» Review Of Finance.

- Valenzuela Bravo, Marcela Andrea (2020), «The Efficient IPO Market Hypothesis: Theory and Evidence,» Journal Of Financial And Quantitative Analysis.

- Bojilov, Raicho Boikov (2019), «Referrals and Search Efficiency: Who Learns What and When?,» Journal Of Labor Economics.

- Elberg, Andrés, Gardete, Pedro., Macera, Rosario., and Noton, Carlos (2019), ”Dynamic effects of price promotions: Field evidence, consumer search, and supply-side implications.” Quantitative Marketing and Economics.

- Larrain, Borja; Sertsios, Giorgo; and Urzua, Francisco (2019), «The Effects of Losing a Business Group Affiliation,» Review Of Financial Studies.

- Lafortune, Jeanne, Ethan Lewis, José Tessada (2019), «People and Machines: A Look at the Evolving Relationship Between Capital and Skills 1860-1930 Using Immigration Shocks,» Review Of Economics And Statistics.

- Elberg Sheward, Andres Eduardo and Noton, Carlos (2018), «Are Supermarkets Squeezing Small Suppliers? Evidence from Negotiatied Wholesale Prices,» Economic Journal.

- Da, Zhi; Larrain, Borja; Sialm, Clemens; and Tessada, Jose (2018), «Destabilizing Financial Advice: Evidence from Pension Fund Reallocations,» Review Of Financial Studies.

- Escobar, Juan and Gaston Llanes (2018), «Cooperation Dynamics in Repeated Games of Adverse Selection,» Journal Of Economic Theory, 176, 408-443.

- Macera Parra, Rosario (2018), «Intertemporal incentives under loss aversion,» Journal Of Economic Theory.

- Poblete Lavanchy, Joaquin Jose (2018), «Incentives and Ratcheting in a Multiproduct Firm: A Field Experiment,» Management Science.

- Ramirez, C., and Tarziján, J. (2018), «Stakeholder value appropriation: the case of labor in the worldwide mining industry,» Strategic Management Journal.

- Ruiz Aliseda, Francisco; Montez, Joao, and; Ryall, Michael (2018), «Competitive intensity and its two-sided effect on the boundaries of firm performance,» Management Science.

- Lafortune, Jeanne, Julio Riutort, José Tessada (2018), «Role models or individual consulting: The impact of personalizing micro-entrepreneurship training,» American Economic Journal-Applied Economics.

- Valenzuela Bravo, Marcela Andrea (2018), «Learning from History: Volatility and Financial Crises,» Review Of Financial Studies.

- Tarzijan Martabit, Jorge (2017), «The impact of frictions in routine execution on economies of scope,» Strategic Management Journal.

- Elberg Sheward, Andres Eduardo (2016), «Sticky Prices and Deviations from the Law of One Price: Evidence from Mexican Micro-Price Data,» Journal Of International Economics.

- Valenzuela Bravo, Marcela Andrea (2016), «Can We Prove a Bank Guilty of Creating Systemic Risk? A Minority Report» Journal Of Money, Credit and Banking.

- Ruiz Aliseda, Francisco, and; Mantovani, Andrea (2016), «Equilibrium Innovation Ecosystems: The Dark Side of Collaborating with Complementors,» Management Science.

- Ruiz Aliseda, Francisco, and; Henry, Emeric (2016), «Keeping Secrets: The Economics of Access Deterrence,» American Economic Journal-Microeconomics.

- Tarzijan Martabit, Jorge (2016), «Toward an integrated theory of the firm: The interplay between internal organization and vertical integration,» Strategic Management Journal.

- Gonzalez, Carolina, Jeanne Lafortune, and José Tessada (2015), «More Hands, More Power? The impact of Immigration on Farming and Technology Choices in US Agriculture in Early 20th Century,» Journal Of International Economics.

- Buchuk, David; Larrain, Borja; Munoz, Francisco; and Urzua, Francisco (2014), «The Internal Capital Markets of Business Groups: Evidence from Intra-Group Loans,» Journal Of Financial Economics.

- Tarzijan Martabit, Jorge (2014), «Transactional Hazards, Institutional Change, and Capabilities: Integrating Theories of the Firm,» Strategic Management Journal.

- Larrain, Borja; and Varas, Felipe (2013), «Equity Issues and Return Volatility,» Review Of Finance.

- Larrain, Borja; and Urzua, Francisco (2013), «Controlling Shareholders and Market Timing in Share Issuance,» Journal Of Financial Economics.

- Donelli, Marcelo; Larrain, Borja; and Urzua, Francisco (2013), «Ownership Dynamics with Large Shareholders: An Empirical Analysis,» Journal Of Financial And Quantitative Analysis.

- Poblete Lavanchy, Joaquin Jose (2012), «The form of incentive contracts: Agency with moral hazard, risk neutrality and limited liability,» Rand Journal Of Economics.

- Gallego, Francisco, and José Tessada (2012), «Sudden Stops and Reallocation: Evidence from Labor Market Flows in Latin America,» Journal Of Development Economics.

- Oded Koenigsberg, Rajeev Kohli, Ricardo Montoya, (2010) The Design of Durable Goods. Marketing Science 30(1):111-122.

- Casadesus-Masanell, Ramon and Gaston Llanes (2011), «Mixed Source,» Management Science, 57(7) 1212-1230.

- Cortés, Patricia, José Tessada (2011), «Low-Skilled Immigration and the Labor Supply of Highly Skilled Women,» American Economic Journal-Applied Economics.

- Larrain, Borja (2010), «Stock Market Development and Cross-Country Differences in Relative Prices,» Review Of Economics And Statistics.

- Ricardo Montoya, Oded Netzer, Kamel Jedidi, (2010) Dynamic Allocation of Pharmaceutical Detailing and Sampling for Long-Term Profitability. Marketing Science 29(5):909-924.

- Braun, Matias; and Larrain, Borja (2009), «Do IPOs Affect the Prices of Other Stocks? Evidence from Emerging Markets,» Review Of Financial Studies.

- Larrain, Borja; and Yogo, Motohiro (2008), «Does FirmValue Move Too Much to be Justified by Subsequent Changes in Cash Flow?,» Journal Of Financial Economics.

- Poblete Lavanchy, Joaquin Jose (2007), «Age-differenciated minimum wages in developing countries,» Journal Of Development Economics.

- Larrain, Borja (2006), «Do Banks Affect the Level and Composition of Industrial Volatily?,» Journal Of Finance.

- Larrain, Borja (2005), «Finance and the Business Cycle: International, Inter-Industry Evidence,» Journal Of Finance.

- Bustos Donoso, Alvaro Eduardo (2004), «Could Higher Taxes Increase the Long-Run Demand for Capital?: Theory and Evidence for Chile,» Journal Of Development Economics.