We study the joint determinants of stock and bond returns in a long-run risks model framework with regime shifts

This paper documents a large overestimation of measured finance misallocation (Whited and Zhao, 2021) when lease-induced debt is ignored among US manufacturing firms Appropriately accounting for leases on the liability side translates into a 5 5% real va

Recessions are associated with sharp increases in turbulence that reshuffle firms’ productivity rankings To s

Trust between parties should drive contract design: if parties were suspicious about each others’ reaction to

This paper studies the estimation of characteristic-based quantile factor models In these models, the factor loadi

Announcements of mergers very often discuss the immediate impact of the deal on the acquirer’s earnings per

We examine the stock market returns in an environment in which the dates of central bank’s information supp

The relationship between global warming and CO2 is a long-standing question in the climate change literature In

Building upon the premise that short squeezes are most likely to occur following a large one day price increase

We examine how executive compensation can be designed to motivate product market collusion We look at the 2013