We consider a system where the asset values of firms are correlated with the default thresholds. We first evaluate the probability of default of a single firm under the correlated assets assumptions. This extends Merton’s probability of default of a single firm under the independent asset...

Time and money are two obstacles preventing companies from implementing energy-efficiency projects. To mitigate these concerns, the Kansas State University Pollution Prevention Institute (PPI) began an intern program that places engineering students at commercial facilities to conduct focused...

This intrinsic case study is about people who worked in partnerships. Each of the partnerships emerged from relationships formed between the business, education, government and community sectors. Aprinciple aim of the cross-sector partnerships was to enhance learning opportunities, integral to...

Several factors affect the quality of accounting information, such as characteristics of the firm, practices and procedures adopted in the elaboration of the financial statements, corporative governance system, capital market, regulation, among others. Among these factors, it is noteworthy the...

It is well recognized in literature that countries having a better export performance also enjoying the better economic growth and vice versa. Above said statement raises a striking question: is the economic growth (GDP) and exports having strong linkages? The aim of present study is to test the...

This paper explores the relationship of the (un)healthy body and the performance expectations of social interactions at organizations. Through oral history interviews with Celiac afflicted individuals who work in intellectual labor settings, we illustrate that accountability and performance...

In this paper, we document a strong comovement between a firm’s corporate social responsibility (CSR) score and the CSR scores of their social network. This result is strongest for the CEO’s social network and when firms that have a high number of connections or more central positions within...

This paper investigates the stock market performance from the second half of February through the latter portion of March 2020 for U.S. travel-related firms (airlines, restaurants, and hotels) in response to the COVID-19 pandemic. Clearly the reduction in travel was negative news for the travel...

Set in June 2001, the case places the student in the role of Scott Topping, Director of Corporate Finance at Southwest Airlines. Scott is responsible for the airline's fuel hedging program. The case describes the importance of jet fuel hedging in the airline industry, the volatility of jet fuel...

This paper investigates the effect of managerial incentives on the use of foreign-exchange derivatives by U.S. bank holding companies, as end users, over the period 1996-2000. Our data from 252 large bank holding companies allow us to separate derivatives used for purposes other than trading...