Purpose -The purpose of this paper is to examine the relationship between naked short selling and accounting irregularities that cause a firm to issue a restatement. Design/methodology/approach - Using the level of abnormal fails-to-deliver as a proxy for naked short selling, the paper looks for...

Purpose – The purpose of this paper is to provide a historical perspective and going-forward assessment of the importance of private mortgage insurance (PMI) entities in the residential-lending landscape in the USA. Design/methodology/approach –Financial data from the PMI entities and...

We explore the linkage between stock return predictability and the monetary sector by examining alternative proxies for monetary policy. Using two complementary methods, we document that failure to condition on the Fed's broad policy stance causes a substantial understatement in the ability of...

Brocato and Steed (1998) showed that portfolio rebalancing based on NBER business cycle turning points substantially improves in-sample Markowitz efficiency. In a similar vein, we investigate potential improvements from rebalancing based on turning points in the monetary cycle. We find that the...