This paper considers whether the existing measures of credit risk order and quantify corporate credit risk in the same way. Eight measures of credit risk of different natures are compared: Altman's Z, Ohlson's O, Hannan and Hanweck model, Zmijewski model, bond spreads, CDS spreads,...

The impact of a switch of management company on pension plan fees is analyzed by comparing the effects on employer-sponsored versus individual defined-contribution private pension plans in Spain. This framework is ideal because the two types differ significantly both in plan governance structure...

Previous studies have examined the determinants of corporate insolvency and their relationship with accounting and financial variables. Beyond the similarities or differences observed between countries, the discussion has revolved around the predictive capacity of models including these...

This article attempts to identify the default risk measure which best reflects the idiosyncratic context of public family firms. Seven accounting- and market-based measures are compared over a sample of 981 US family and non-family firms for the period 2000-2016. The results show that the...

We propose a valuation framework for pricing European call warrants on the issuer's own stock that allows for debt in the issuer firm. In contrast to other works which also price warrants with dilution issued by levered firms, ours uses only observable variables. We extend the models of both...

This article attempts to identify the default risk measure which best reflects the idiosyncratic context of public family firms. Seven accounting- and market-based measures are compared over a sample of 981 US family and non-family firms for the period 2000-2016. The results show that the...

In this paper we separate the total stock return into its continuous and jump component to test whether stock return predictability should be attributed to omitted risk factors or behavioral finance theories. We extend results from the US market to the Spanish stock market, which, despite being...

This research addresses the importance of gender in prices in the sports betting industry. Specifically, we investigate the impact of gender bias in the prices that bookmakers offer for tennis matches. Despite widespread evidence of gender bias both in the practice of the sport and its media...

This paper examines the influence of secondary offerings (SOs) on the liquidity and trading activity of stocks outstanding. The results reveal that liquidity and trading activity increase after the execution of SOs. We observe that the offering discount is explained by the size of the offering...