market financing, debt or equity financing - seems to be particularly harmful or beneficial for growth. …

negatively related to credit spreads. Particularly during the financial crisis of 2007-09 and the subsequent European debt crisis …

in U.S. companies. This paper shows the tax implications and accounting rules for stock option plans. By comparison of … the tax and accounting rules for different compensation schemes we show that the popularity of stock options may be mainly …

Broker-dealer leverage has recently proven to be strongly procyclical, exhibiting impressive explanatory power for a … balance-sheet indicators for asset pricing. In particular, leverage shows a procyclical behavior with a positive price of risk …. Moreover, high leverage coincides with high asset prices, thereby forecasting lower future returns. …