This study constructs a novel measure that aims to capture face-to-face private communications between firm managers and sell-side analysts by mapping detailed, large-volume taxi trip records from New York City to the GPS coordinates of companies and brokerages. Consistent with earnings releases...

In recent years, U.S. government entities have become increasingly active as commercial participants in corporate restructurings by providing rescue loans when private market funding is unavailable. Like private lenders, the government can effectively control the operations of distressed...

From European integration to domestic politics to the development of the global economy, technocracy and private ordering have shaped economic behaviour. Such transformative private-driven forces of economic activity flourished through the promulgation of voluntary standards. In view of the...

In this paper we examine whether sustainability characteristics of stocks and bonds affect asset allocations of wealthy retail investors. Using a large proprietary dataset of a private bank with monthly investment holdings of European private wealth investors, we document significantly larger...

The paper examines syndicated loan market to study whether and how borrowers' meeting or beating analysts' expectations (MBE) have more favorable debt contractual terms. Using a sample of listed loan firms in Dealscan database during 1998-2009, we find that, as predicted, firms missing analysts'...

This study examines the information content of analyst reports for private firms. Using a novel sample of debt analyst reports for privately-held firms with public debt, I find that the bond market reaction to debt analyst reports is larger for private firms than public firms. Further, in...