results proved a heavy-tailed pattern of operational risk data consistent with the results documented by other researchers in … from emerging markets such as Central Europe are exposed to these operational risk events and that successful estimates of … the likely distribution of these risk events can be derived from more mature markets. …

crash risk. Therefore, we apply modern information retrieval techniques to corporate textual disclosures by constructing … search for equity is associated with higher future stock price crash risk. Further analyses suggest that managers with … of earnings manipulation and textual obfuscation on stock price crash risk. In summary, our results suggest that managers …

Modigliani-Miller theorem, experimental subjects well recognized the increased systematic risk of the equity with increasing … systematic risk of low leveraged equity whereas overestimated the systematic risk of high leveraged equity, resulting in a U …

any assumptions about individuals' risk attitudes and initial wealth positions. We find that, consistent with the … Modigliani-Miller theorem, experimental subjects well recognized the increased systematic risk of equity with increasing leverage …

any assumptions about individuals' risk attitudes and initial wealth positions. We find that, consistent with the … Modigliani-Miller theorem, experimental subjects well recognized the increased systematic risk of equity with increasing leverage …

This paper develops a model where firms' equilibrium capital structures depend on firms' risk characteristics and … investors' aggregate risk appetite. I assume that the law of one price fails because security markets are incomplete and risk …-sharing through short-selling or borrowing is limited. Investors have heterogeneous risk preferences. Thus, firms can create value …