<title>A<sc>bstract</sc> </title> People riding transit in the city of Detroit walk on average 0.8 miles (1.3 km) per round trip. The straight-line walking distance was found by buffering the bus stop locations and comparing them to the weighted US Census blocks. However, the true walking path follows the street...

This study examines the relationship between the return and the holding cost of equity-linked pay-at-maturity principal protected notes (EL-PAM-PPNs) and the mean return and volatility of the underlying portfolio using 1568 EL-PAM-PPNs issued in the UK and Canada between 2003 and 2015. We find...