Managers need a framework for assessing various kinds of risk and uncertainty that will continue to confront corporate decision makers as the 9/11 event plays out over the following months and years. The authors suggest an innovative scenario process, one that provides business continuity...

In line with a growing literature on financial intermediary asset pricing, we find that changes in the leverage of primary dealers have predictive power in forecasting exchange rates. Unlike previous studies, we find that primary dealer heterogeneity matters for their role in asset pricing. The...