This paper investigates whether three microeconomic loan characteristics are sources of loan default clustering in the Mexican banking sector by employing survival analysis with frailty. Using a large sample of bank loan level data granted to micro, small and medium sized firms from January 2010...

This paper provides an in-depth look into the properties of accounting numbers used in compensation contracts for S&P 500 firms from 2006 to 2017. Our data reveal wide variation in the accounting performance metrics used in compensation contracts, with some recent movement from bottom-line...

We examine the determinants of an initial public offering (IPO) firm's choice to trade on a when-issued market and find that better quality firms are more likely to trade on this market. Our ‘what-if' analysis shows that for companies choosing when-issued trading, the actual offer price is...