I examine the real effects of financial markets on the timing of vehicle firms' safety-related recalls. Firms strategically time recalls in response to previously issued long-term debt prescheduled to mature by the end of the fiscal year in which defective products are manufactured. Maturing...

Contrary to signaling models' central predictions, changes in the level of cash flows do not empirically follow changes in dividends. We use the Campbell (1991) decomposition to construct cash-flow and discount-rate news from returns and find the following: (1) Both dividend changes and...

We provide novel evidence on the effect of smart phone use on road accidents. We exploit variation in phone usage fees in the Netherlands following a change in European Union (EU) roaming regulations implemented in 2017. The growth rate of mobile data roaming increased substantially after the...

Due to long-standing reliance upon negative, fear-based appeals in road safety advertising, this study attempts to examine the effectiveness of threat appeals in persuading Emirati road users to change their attitudes and behaviour in the short and long run. To measure the effectiveness of the...