We present a multi-period mean-variance optimization program which allows for a joint optimization of the balance and off-balance sheet. Our first finding is the proof of a conjecture of Li and Ng (cf. [LN00]), Leippold, Trojani and Vanini (cf. [LTV04], [LTV03]) about the equivalence of the...

This paper examines the characteristics of firms that voluntarily provide interim financial reports. Based on a sample of Swiss companies, where semi-annual reports became mandatory in 1997, I document that before interim reports became mandatory, analyst coverage, i.e. analysts demand for...