Recently, nature-inspired algorithms have increasingly attracted the attention of researchers. Due to the fact that in BPSO the position vectors consisting of ‘0’ and ‘1’ can be seen as a decision behavior (support or oppose), in this paper, we propose a BPSO with hierarchical structure...

An employee's annual earnings fall by 13% the year her firm files for bankruptcy, and the present value of lost earnings from bankruptcy to six years following bankruptcy is 87% of pre-bankruptcy annual earnings. More worker earnings are lost in thin labor markets and among small firms. Ex ante...

Purpose: The purpose of this study was to investigate the participants' attitudes toward the ethical issues caused by collecting social media data (SMD) for research, as well as the effects of familiarity, trust and altruism on the participants' attitudes toward the ethics of SMD research. It...

We study the role of firm- and manager-specific heterogeneities in executive compensation. We decompose the variation in executive compensation and find that time invariant firm and especially manager fixed effects explain a majority of the variation in executive pay. We then show that in many...

Property/casualty (P/C) insurers are required to establish loss reserves for unpaid losses at the time that the loss has occurred or is reasonably expected to have occurred. We examine factors that may impact the accurate setting of loss reserves.These include the level of rate regulation faced...

We assess the bond market response to the Bear Stearns rescue in March 2008 and the Lehman Brothers failure (combined with news about the acquisition of Merrill Lynch and AIG's investment banking problems and subsequent rescue) in September 2008. The Bear Stearns rescue elicited a moderately...

This paper is the first to study the effect of financial restatement on bank loan contracting. Compared with loans initiated before restatement, loans initiated after restatement have significantly higher spreads, shorter maturities, higher likelihood of being secured, and more covenant...

This paper is the first to study the effect of financial restatement on bank loan contracting. Compared with loans initiated before restatement, loans initiated after restatement have significantly higher spreads, shorter maturities, higher likelihood of being secured, and more covenant...

An employee's annual earnings fall by 10% the year her firm files for bankruptcy and fall by a present value of 67% over seven years. This effect is more pronounced in thin labor markets and among small firms that are ultimately liquidated. Compensating wage differentials for this “bankruptcy...