G
Gordon M. Phillips
Researcher at National Bureau of Economic Research
Publications - 118
Citations - 12027
Gordon M. Phillips is an academic researcher from National Bureau of Economic Research. The author has contributed to research in topics: Product market & Competition (economics). The author has an hindex of 38, co-authored 110 publications receiving 10356 citations. Previous affiliations of Gordon M. Phillips include University of Southern California & Purdue University.
Papers
More filters
Journal ArticleDOI
Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis
Gerard Hoberg,Gordon M. Phillips +1 more
TL;DR: The authors use text-based analysis of 10-K product descriptions to examine whether firms exploit product market synergies through asset complementarities in mergers and acquisitions, and find that transactions are more likely between firms that use similar product market language.
Journal ArticleDOI
How Does Industry Affect Firm Financial Structure
Peter MacKay,Gordon M. Phillips +1 more
TL;DR: This article examined the importance of industry to firm-level financial and real decisions and found that financial structure, technology, and risk are jointly determined within industries, and that financial leverage is higher and less dispersed in concentrated industries where strategic debt interactions are also stronger, but a firm's natural hedge is not significant.
Journal ArticleDOI
Do Conglomerate Firms Allocate Resources Inefficiently Across Industries? Theory and Evidence
TL;DR: In this paper, a profit maximization model was developed to predict how conglomerate firms allocate resources across divisions over the business cycle and how their responses to industry shocks will differ from those of single-segment firms.
Journal ArticleDOI
Text-Based Network Industries and Endogenous Product Differentiation
Gerard Hoberg,Gordon M. Phillips +1 more
TL;DR: The authors study how firms differ from their competitors using new time-varying measures of product similarity based on text-based analysis of firm 10-K product descriptions and find evidence that firm R&D and advertising are associated with subsequent differentiation from competitors.
Posted Content
Text-Based Network Industries and Endogenous Product Differentiation
Gerard Hoberg,Gordon M. Phillips +1 more
TL;DR: The authors study how firms differ from their competitors using new time-varying measures of product differentiation based on text-based analysis of product descriptions from 50,673 firm 10-K statements filed yearly with the Securities and Exchange Commission.