Mutual funds vary greatly in their reliance on proxy advisory recommendations. Over 25% of funds rely almost entirely on ISS recommendations, while other funds place little weight on them. Funds with higher benefits and lower costs of researching items up for vote are less likely to rely on ISS....

This paper examines the potential benefits of security fungibility by conducting the first comprehensive analysis of Global bonds. Unlike other debt securities, Global bonds’ fungibility allows them to be placed simultaneously in bond markets around the world; they trade, clear and settle...

We examine the relation between analyst forecast characteristics and the cost of debt financing. Consistent with the view that the information contained in analysts' forecasts is economically significant across asset classes, we find that analyst activity reduces bond yield spreads. We also find...