This paper explores the risk structure of interest rates. More specifically, we ask whether yields on industrial and commercial bonds indicate that market participants base their evaluations of a bond issue's default risk on agency ratings or on publically available financial statistics. Using a...

The sensitivity of U.S. firms to domestic political uncertainty is an under-conceptualized yet critical component of nonmarket strategy. Using financial and political prediction market data, we develop a panel measure of domestic political sensitivity at the industry level for the period of...

Much of the debate on sustainable development is focused on improvements to production and development practices. However, government decision-making processes can have a significant influence over sustainable development outcomes. Many decision-making processes used to resolve sustainable...

This paper proposes that a virtuous circle for the sustainable development of a city or region is achieved through a process whereby proactive and strong leadership and effective institutions enhance the capacity and capability of a place to better use its resource endowments and gain an...