We find that the majority of variation in leverage ratios is driven by an unobserved time‐invariant
effect that generates surprisingly stable capital structures: High (low) levered firms tend …

We provide evidence on the covenant structure of corporate loan agreements. Building on
the work of Jensen and Meckling [1976, Theory of the Firm: Managerial Behavior, Agency …

Background The genome of the domestic cow, Bos taurus, was sequenced using a mixture
of hierarchical and whole-genome shotgun sequencing methods. Results We have …

This chapter discusses how applied researchers in corporate finance can address
endogeneity concerns. We begin by reviewing the sources of endogeneity—omitted variables, …

We show that incentive conflicts between firms and their creditors have a large impact on
corporate debt policy. Net debt issuing activity experiences a sharp and persistent decline …

The United States produces 41% of the world's corn and 38% of the world's soybeans. These
crops comprise two of the four largest sources of caloric energy produced and are thus …

Abstract Machine learning methods offer great promise for fast and accurate detection and
prognostication of coronavirus disease 2019 (COVID-19) from standard-of-care chest …

We identify a specific channel (debt covenants) and the corresponding mechanism (transfer
of control rights) through which financing frictions impact corporate investment. Using a …

We empirically examine whether firms engage in a dynamic rebalancing of their capital
structures while allowing for costly adjustment. We begin by showing that the presence of …

The basic reproduction number ℛ 0 is arguably the most important quantity in infectious
disease epidemiology. The next-generation matrix (NGM) is the natural basis for the definition …