Garrett Swanburg


Garrett
              Swanburg Photo

Ph.D. Candidate
Finance and Business Economics
Marshall School of Business

University of Southern California

3670 Trousdale Parkway, BRI 308
Los Angeles, CA 90089-0804
swanburg@usc.edu

Curriculum Vitae



Reasearch Interests

Corporate diversification, product market competition, mergers and acquisitions, causal inference methods

 

 

Job Market Paper

Internal Capital Markets and Competitive Threats

Theory suggests that diversified firms’ internal capital markets can help or hinder their ability to respond to competitive threats. They can help by allowing the firm to quickly move resources to threatened markets (resource flexibility), but can hurt by making it easier for the firm to exit an industry. This paper examines how diversified firms respond to heightened competition following tariff reductions in order to assess the competing theories. The main finding is diversified firms reduce their investment in threatened industries relative to non-diversified firms. This results in a higher proportion of firm-level investment funds being allocated to unaffected segments.

 

 

Work in Progress

“A Competitive Motive for Holding Cash”

"The Effect of Corporate Diversification on Credit Ratings" with Sakya Sarkar

"Selectivity and Ability: Do Mutual Fund Managers Pick Winners within Product Markets?" with Zhishan Guo

“A Text-Based Classification of Mutual Fund Strategies” with Zhishan Guo

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