We address the role of impression on decisions to employ corporate job candidates. Specifically, we focus on the effect of phrasing the job candidate’s CV in the third person (passive voice), as opposed to the first person, on its readers’ impression and decisions regarding the candidate,...

Digitalization, global competition and an increased velocity of life and business do not allow companies today to sit back for a while and harvest the fruit of their leading market position. Continuous or sometimes even revolutionary change and innovation are needed to stay in the game. This...

We show that business cycle dynamics and, in particular, the cyclicality of a firm's growth opportunities, determine the value of cash holdings. Cash is more valuable for firms with relatively more attractive growth opportunities in bad states of the business cycle. Cash holdings provide the...

This paper examines the predictive performance of machine learning methods in estimating the illiquidity of U.S. corporate bonds. We compare the predictive performance of machine learning-based estimators (linear regressions, tree-based models, and neural networks) to that of the most commonly...