Investment scores generated by ChatGPT using conference call transcripts are strongly predictive of companies’ future capital expenditures for up to nine quarters, controlling for other predictors. The scores also predict intangible investment, R&D, and total investment, and are negatively correlated with future stock returns.

Turkey’s Law 2012/3305 boosted economic activity among businesses in eligible industries/provinces and led to positive spillovers to the suppliers and customers of subsidized firms. In the long run, the policy reduced income inequality between regions only moderately, due to migration and spillovers.

Individual managers impact retail business productivity substantially; replacing a manager at the bottom of the quality distribution by one at the top could increase a store’s productivity by between 50% and 100%.

Using GPT to summarize corporate disclosures results in summaries that are shorter and more informative than the originals. “Bloated” disclosures – or, those with more uninformative content – are associated with adverse capital market outcomes.

Little support exists for a strong causal relation between corporate governance and firm outcomes, which are rather driven by such characteristics as profitability, liquidity, and growth, among others.

Driven by the sizable shift in sales and employment from the relatively concentrated manufacturing sector to the relatively unconcentrated service sector, local concentration in sales has increased in parallel to national sales concentration, while local concentration in employment has declined, despite rising at the national level.

US corporate concentration has increased persistently over the past century, with the manufacturing and mining sectors consolidating at a faster pace prior to the 1970s, and with the services, retail, and wholesale sectors taking the lead since. These long-run trends appear in line with stronger economies of scale.