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This study examines whether financial statement comparability plays a significant role in mitigating costs of capital in the market for seasoned equity offerings (SEOs). The FASB refers to comparability as a qualitative characteristic of financial reporting that enhances the decision-usefulness...
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In this study, we replicate and extend Dichev and Skinner’s [DS: 2002] study on the debt covenant hypothesis (DCH). We start by replicating DS and find results consistent with theirs. We then extend their work by changing three aspects of the research design: histogram bin width, calculation...
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Workers in less secure jobs are often paid less than identical-looking workers in more secure jobs. We show that this lack of compensating differentials for unemployment risk can arise in equilibrium when all workers are identical and firms differ only in job security (i.e. the probability that...
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We investigate the role of complementarities in production and skill mobility across cities. We propose a general equilibrium model of location choice by heterogeneously skilled workers, and consider different degrees of complementarities between the skills of workers. The nature of the...
Persistent link: https://www.econbiz.de/10010329536
We investigate the role of complementarities in production and skill mobility across cities. We propose a general equilibrium model of location choice by heterogeneously skilled workers, and consider different degrees of complementarities between the skills of workers. The nature of the...
Persistent link: https://www.econbiz.de/10010331052