An important assumption in the statistical analysis of the financial market effects of the central bank's large scale asset purchase program is that the 'long-term debt stock variables were exogenous to term premia'. We test this assumption for a small open economy in a currency union over the...

Cheque-dishonour cases constitute a significant portion of litigation in India. These cases are thought to be major contributors to overall pendency and delays in courts. The Supreme Court of India, in 2020, set up a committee and appointed Amici Curiae to formulate recommendations to reduce...

Ambient levels of viable bioaerosol were measured at four different sites on the campus of Jawaharlal Nehru University (JNU), New Delhi, India. Most of the viable bioaerosol was associated with the fungal fraction with the remainder due to bacteria. The highest concentrations of fungi were found...

Distance-to-default (DtD) from the Merton model has been used in the credit risk literature, most successfully as an input into reduced form models for forecasting default. In this paper, we suggest that the change in the DtD is informative for predicting change in the credit rating. This is...

The timeliness of the credit rating of a firm has been frequently called into question over the previous two decades. This paper examines whether changes in credit ratings can be updated more frequently than at the frequency of updates in the accounting data. The paper finds that, when market...

We quantify the financial performance of environmental, social, and governance (ESG) portfolios in the U.S., Europe, and Japan, based on data from six major ESG rating agencies. We document statistically significant excess returns in ESG portfolios from 2014 to 2020 in the U.S. and Japan. We...