We develop a discrete choice recursive model that classifies companies with and without dividend reinvestment plans with 72.0% accuracy. Misclassified companies are more likely to switch their plan status within the next five years, suggesting that financial statements foreshadow changes in plan...

The existing literature on mortgage default and foreclosure largely examines the development of mortgage problems (the first stage) and the possibility of recovery from such problems (the second stage) separately. such studies may provide an incomplete picture of the development and possible...