Mutual Fund Trading Style and Bond Market Fragility
A subset of mutual funds intentionally supply liquidity in corporate bond markets during periods of…
Browsing: Finance
Do Firms Purposefully Change Capital Structure? Evidence from an Investment-Opportunity Shock to Pharmaceutical Firms
Firms make their capital structure less constraining by decreasing leverage, shortening debt maturity, increasing unsecured…
Derivatives Supply and Corporate Hedging: Evidence from the Safe Harbor Reform of 2005
The study is the first to document that supply side frictions have a first order…
Mutual Funds that Borrow
Most people think their 401(k)s are safe, but there is hidden risk in the investment…
A View Inside Corporate Risk Management
Firms with risk averse executives are significantly more likely to hedge.
Do buy-side institutions supply liquidity in bond markets? Evidence from mutual funds
A working paper by Amber Anand, Edward Pettinella Professor of Finance, finds some buy-side institutions…
The Economic Consequences of Perk Disclosure
A paper recently accepted by Contemporary Accounting Research shows executive compensation disclosure rules can have…
New Breed of Traders Create Stock Market Fragility
This study finds market makers scale back in unison when market conditions are unfavorable, which…
Predicting Future Market Returns
Market fears play an important role in understanding the stock return predictability.
The Chrysler Effect: The Impact of Government Intervention on Borrowing Costs
This study studies “The Chrysler Effect,” and finds no evidence that bondholders of…