The Black-Scholes Model (Black-Scholes-Merton Model) is well known among practitioners and researchers in the field of option pricing. The present study explains how to simulate the Lévy process to price options and demonstrates that the Barndorff-Nielsen and Shephard Model is empirically...

Purpose – Audit quality studies document that accruals decrease when the audit firm is large, or the audit firm is an industry specialist, or the audit-client tenure is long. The purpose of this paper is to posit that incentives related to highly-valued equity mitigate these results, as...

This study empirically investigates the “relative tax gap hypothesis,” which posits that the greater the size of the relative tax gap, the greater the degree to which the U.S. Treasury must borrow from domestic and/or other credit markets and hence the higher the ex ante real interest rate...