We examine the impact of merger announcements on protfolios of acquiring firm and target firm common stock from 1919 to 1930. despite vast changes in the economic and regulatory environment, overall acquisition profitability has remained remarkably constant over the last 70 and 80 years. Target...

Critics claim that theories of secured debt fail to explain the widespread use of collateral because they incorrectly predict when a loan will be secured. This paper provides the first rigorous statistical test of the transaction cost models of secured debt. Data from two samples of over 1,000...

When OSHA was established, proponents believed it would dramatically improve the safety and health of American workers. During the forty years of its existence, workplace fatalities and nonfatal injuries and illnesses have fallen but OSHA is not the major cause of this decline. Changes in the...