Introduction Default is triggered by a firm’s failure to meet its financial obligations. Default probabilities and changes in expected default frequencies affect markets participants, such as investors and lenders, since ...

We study board executive committees for which, despite their broad powers, there exists limited empirical evidence. We find empirically robust evidence that firms with executive committees have lower market values. We also ...

Using European stock data from two different venues and time periods for which we can identify each trade's aggressor, we test the performance of the bulk volume classification (Easley et al. (2016)

We examine the incentive effects of CEO inside debt holdings (pensions and deferred compensation) on risk taking using the sample of U.S. publicly traded property–liability insurers. To represent managerial risk taking, ...

Using data from 1993 to 2002 for eight developed and fifteen emerging markets, we find that return correlations, mean-variance spanning, and Sharpe ratio tests support that closed-end country funds (CECF) can mimic their ...

This study compares the predictive performance of three neural network methods, namely the Learning Vector Quantization, Radial Basis Function, the Feedforward network that uses the conjugate gradient optimization algorithm, ...