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- Diversity, equity, and inclusion in computer science
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Debt Covenants and Cross-Sectional Equity Returns
This paper investigates the impact of debt covenant protection on the cross section of equity returns with a firm-level covenant index and four subindices. We find that firms with weaker covenant protection lower covenant index levels earn significantly ...
Corporate Governance and Costs of Equity: Theory and Evidence
We propose and test an alternative explanation for the existence of the positive governance-return relation in the 1990s and its disappearance in the 2000s: The governance-return relation is positive under good states of the economy and negative under ...
Predicting Equity Liquidity
In this paper we develop a measure of liquidity, price impact, which quantifies the change in a firm's stock price associated with its observed net trading volume. For a large set of institutional trades we compare out-of-sample, characteristic-based ...
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