Issues related to insider trading remain popular research topics. Empirical studies using historical data are limited by two key factors: 1) the inability to identify exactly who possesses inside information, and 2) the inability to identify the accuracy of information possessed. Advances in...

In this article we have shown that it is possible to duplicate with fairly high accuracy the credit ratings recently published in Moody's Analytical Overview of 25 Leading U.S. Cities. Using multiple discriminant analysis and a set of nine discriminating variables, we can predict the...