The effective functioning of the municipal bond market is crucial for the provision of public services, as it is the largest capital market for state and municipal issuers. Prior research has documented tax, credit, liquidity, and segmentation effects in municipal bonds. Recent regulatory...

Credit risk prediction for small and medium enterprises (SMEs) has long posed a complex research challenge. Traditional approaches have primarily focused on enterprise-specific variables, but these models often prove inadequate when applied to SMEs with incomplete data. In this innovative study,...