In the capital structure literature, speed of adjustment (SOA) estimates are similar whether book or market leverage is used. This robustness is suspect, given the survey evidence that firms target their book leverage and the empirical evidence that they don't issue securities to offset market...

This research analyzes the relationships between the market return after each Election Day and economic performance under each president's administration. The analysis shows that the after-election market movement has been more and more accurate in reflecting the future GDP growth and the future...