The first study focuses on inventory investments of two sets of Indian manufacturing firms: issuers and non-issuers firms of publicly issued debt during 1996-1997, a time period of robust economic growth and simultaneously an inward shift in the supply of bank loans hypothesized to have been...

A number of studies in the prior literature have found a link between cash flow and firm investment [Hubbard (1998) and cites therein]. Findings of most of these studies have the caveat that cash flow could simply be capturing expectations of future profitability because the empirical proxy...

Arun Khanna responds to J. Bradford Delong by arguing that the U.S. dollar has four key strengths that preclude a meltdown in the value of the dollar.

Monthly Income Preferred Stock (MIPS), Quarterly Income Preferred Stock (QUIPS), and Trust Originated Preferred Stock (TOPrS) all carry the title of preferred stock. As in the case of other forms of preferred stock, investors cannot force the issuer into bankruptcy if it fails to make a...