In business research, firm size is both ubiquitous and readily measured. In contrast, complexity, another firm-related construct, is frequently relevant, but difficult to measure and not well defined. As a result, complexity is seldom incorporated in empirical designs. Measures such as the...

Using comprehensive data on London Interbank Offer Rate (Libor) submissions from 2001 through 2012, we document systematic evidence consistent with banks manipulating Libor to profit from Libor related positions and, to a degree, to signal their creditworthiness during the distressed times for...