This paper studies firm-level leverage and performance measures before and after a currency crisis, using data from 17 countries. We show that, prior to a crisis, companies that expect to benefit from currency depreciations increase their leverage more than companies that are expected to be...

The consensus of 226 academic financial economists forecasts an arithmetic equity premium of 7% per year over 10- and 30-year horizons and of 6%-7% over 1- and 5-year horizons. Pessimistic and optimistic 30-year scenario forecasts average 2% and 13%, respectively. Respondents claim to revise...

The authors study the most important legislative and shareholder boycott to date, the boycott of South Africa's apartheid regime, and find that corporate involvement with South Africa was so small that the announcement of legislative/shareholder pressure or voluntary corporate divestment from...