This paper is an updated guide for newly minted PhDs entering the academic finance job market for the first time. We describe the institutional details of how this labor market works and what rookies need to know to improve their chances of getting the right job. We give advice for application...

We show that state corruption and political connections have strong effects on municipal bond sales and underwriting. Higher state corruption is associated with greater credit risk and higher bond yields. Corrupt states can eliminate the corruption yield penalty by purchasing credit...