This paper reexamines the determinants of credit default swaps (CDS) spreads in the U.S., Europe, and Asia-Pacific markets with a new data set using linear regressions. These determinants are categorized into two groups: firm level and macroeconomic variables. We also include two non-traditional...

This paper evaluates the effects of binding regulatory restraints on the rate of performance-based management compensation within a banking framework in which the primary function of bank management teams is to monitor loans in order to eliminate deadweight default losses. Available management...

This study investigates the link between price discovery dynamics in sovereign credit default swaps (CDS) and bond markets and degree of financial integration of emerging markets. Using CDS and sovereign bond spreads, the price discovery mechanism was tested using a vector error correction...

We test the predictability of investment fraud using a panel of mandatory disclosures filed with the SEC. We find that disclosures related to past regulatory and legal violations, conflicts of interest, and monitoring have significant power to predict fraud. Avoiding the 5% of firms with the...

This paper examines the performance of seven indexes chosen from the Dow Jones Islamic Market Index (DJIM) vis-à-vis their non-Islamic counterparts using a variety of measures such as Sharpe, Treynor, Jensen and Fama’s selectivity, net selectivity and diversification. Second, we examine the...

This paper explores the evolution of American economic policy since the New Deal. It argues that an accumulation of statist institutions and policies since World War II have led to the latest financial crisis in the housing sector. The paper then makes proposals with respect to fiscal policy,...

Financial deregulation starting in the 1980s provided families both economic opportunities and risks. Rapidly increased mortgage, credit card and other debts are out of control among many families, which arguably caused the recent great recession. The purpose of this study is to describe...

A popular and highly politicized theme today is that US workers are falling behind as their real wages fall and income gets redistributed to the rich. This article looks at some reasons that income inequality could rise, and then explores whether, in fact, workers are losing out. It looks at the...

This paper develops a two-sector overlapping generations (OLG) model of the co-evolution of urbanization, saving, and fertility in developing economies. Children are viewed as a means of old-age support, particularly in the rural sector, as well as a good valued for its own sake. It is shown...

The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) includes two educational provisions which require debtors to complete an approved credit counseling course prior to filing for bankruptcy and a financial education course prior to the discharge. Recent debates have raised...