This paper uses worldwide survey evidence to study the effect of derivative accounting standards on firms? risk management activities. More than 40% of the companies indicate that their risk management policies have been affected by the new standards. Their ability to hedge from an economic...

We survey chief financial officers from 29 countries to examine whether and why firms use lines of credit versus non-operational (excess) cash for their corporate liquidity. We find that these two liquidity sources are employed to hedge against different risks. Non-operational cash guards...

This report presents a reassessment of the proposed standard for energy conservation in new federal residential buildings. The analysis uses the data presented in the report, Economic Analysis: In Support of Interim Energy Conservation Standards for New Federal Residential Buildings (June...

Japan's rise to prominence as a leading player within the global electronics industry is frequently cited as emblematic of the country's postwar economic miracle, yet our understanding of why this phenomenon is far from complete. Conventional wisdom is divided, attributing the success of the...