Chapter 2 - Agency, Information and Corporate Investment

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The effects of financial reporting and disclosure on corporate investment: A review (2019, background): “In practice, a variety of frictions prevent this perfect outcome, with perhaps the most widely-discussed one being frictions arising from information asymmetries (Hubbard, 1998; Stein, 2003).”
Government intervention and firm investment (2017, background): “In the perfect world without market friction (Modigliani and Miller, 1958), firms' investment would be determined only by their investment opportunities (Stein, 2003).”
How does hedge fund activism reshape corporate innovation? (2016, background): “Several recent studies have analyzed the effect of diversity on innovation following the literature on the scope of operation and the value of the firm (see the survey by Stein (2003)).”
Corporate investment efficiency: The role of financial development in firms with financing constraints and agency issues in OECD non-financial firms (2019, background): “Stein (2003) highlights agency issues between different stakeholders that cause investment inefficiencies.”
Multiple large shareholders and corporate investment: Evidence from China (2018, unknown): “Extensive studies have documented that both information asymmetry and agency problems in ﬂ uence investment behavior (Stein, 2003).”