Purpose: By applying models of social and economic networks to financial institutions, the purpose of this paper is to address the issues of how policy makers can promote financial network stability and social efficiency. Design/methodology/approach: The authors characterize the decentralized...

This paper uses a unique data set on screenplay sales to learn how the information content of a sales pitch affects sale prices. This is one of the few studies that analyze “soft information” outside the banking industry. We find that “soft information” proxies, such as the descriptive...

Purpose – The purpose of this paper is to show how corporate policy with respect to the seniority structure of debt changes after a merger. Design/methodology/approach – The author uses data on the seniority and other properties of outstanding bonds of acquiring and target firms before...