This paper presents empirical evidence that the key executives of pharmaceutical companies perceive capital structure, debt capacity, debt measurement capacity, the limit of borrowing, and preference for capital structure. The purpose of presenting this paper is to drop some light on how the...

We study how local governments’ debt financing decisions relate to the term structure of interest rates. Using a novel database of loans taken out by local governments in England, we find that the yield spread is the main determinant of the local governments’ adjustable-rate loan share. Our...

In the decumulation phase of a pension plan, consumption depends on the level of annuitization. We measure the welfare loss of an individual with a demand for annuitization if he has no access to annuitization or, equivalently, does not use such access. We find for realistic parameters and a...

This paper analyses household portfolio choice post-bankruptcy using the 2019 Survey of Consumer Finances (SCF) data set. While much work has been done on the determinants of household bankruptcy, the effect of bankruptcy on household investment preferences has received limited attention....

Stock market prediction provides the decision-making ability to the different stockholders for their investments. Recently, stock technical indicators (STI) emerged as a vital analysis tool for predicting high-dimensional stock data in various studies. However, the prediction performance and...

We identify two data-related errors in the work of Ouazad and Kahn (OK, RFS 2021). Correcting either of these errors or both entirely reverses the original result, in OK’s code and in our independent implementation. The two corrections we implement are to use the correct FHFA conventional loan...

The 2021 Glasgow Climate Pact brought the ocean into the international climate regime, and the 2022 Sharm el-Sheikh COP27 of the UN Framework Convention on Climate Change (UNFCCC) has finally ushered the world into a special fund to respond to loss and damage associated with the adverse effects...