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Affect Real Investment1. James Dow2. London Business School. Itay Goldstein3. University of Pennsylvania. ... 1 Introduction. Informational efficiency is a central tenet of financial economics.

10 Jan 2023: of hyperbolic time discounting. While hyperbolic discounting has been linked to a number. ... 3. of understanding the disposition effect, and present a two-period numerical example.

10 Jan 2023: 61, No. 5 (1993), pp. 989-1018. [14] Darrell Du¢ e; Nicolae Gârleanu; Lasse Pedersen, "Securities Lending,Shorting, and Pricing," Journal of Financial Economics, Vol. ... 66 (2002),pp. 307-339. [15] DavidFrankel; AdyPauzner, "Resolving Indeterminacy

prices closer to fundamentals, encouraging pooling at high leverage. Acting as borrower of. ... chennessy@london.edu. We thank seminar participants at Toulouse School of Economics, the Bachelier Seminar, Uni-.

Figure 1 compares the time series of seasoned equity issuance with asset sales. ... While some of these sales may have been motivated by operational reasons, fi-.

Information Acquisition and Corporate Debt Illiquidity. Ilona BabenkoW. P. Carey School of Business,. ... Arizona State University. Lei MaoWarwick Business School,University of Warwick. September 11, 2015.

and the associated economics of scale. Under a multinomial logistic regression framework, I. ... economics of scale. 3.3 Role of the Big Three in the ETF Market.

This cost. has to be set against the tax shield benefits of debt. ... to the risk of liquidation and hence different degrees of effective risk aversion.

sibility of disciplining management through the threat of intervention and. threat of exit. ... terventions, and a stronger disciplinary role played by the threat of exit leads.

19 Jun 2024: LENNART NIERMANNDepartment of Economics, University of Cambridge. This paper studies why countries end up at a disadvantageous point of high debt and higheconomic cost of default. ... reduces markets’ beliefs about the likelihood of a default event