Credit default swaps (CDS) have grown to be a multi-trillion-dollar, globally important
market. The academic literature on CDS has developed in parallel with the market practices …

Credit default swaps (CDS) have been growing in importance in the global financial
markets. However, their role has been hotly debated, in industry and academia, particularly …

Firms disclose information either voluntarily or due to the regulator's mandatory
requirements, and such disclosures form good sources to know the prospects of a firm …

We provide a synthesis of the empirical evidence on market liquidity. The liquidity
measurement literature has established standard measures of liquidity that apply to broad …

Credit default swaps (CDS)—the fiercely discussed derivatives instrument since the
explosion of the recent global credit crunch—are still subject to considerable theoretical and …

We identify covenants in commercial loan contracts that require public borrowers to
periodically disclose two types of accounting-related private information to lenders …

In this paper, we examine the effect of credit defaults swaps (CDS) initiation on reference
firms' cost management strategies. CDS contracts provide insurance protection for creditors …

We use machine learning methods to create a comprehensive measure of credit risk based
on qualitative information disclosed in conference calls and in management's discussion …

This paper provides the first empirical evidence of the externalities of credit default swaps
(CDS). We find that a firm's leverage is lower when a larger proportion of its revenue is …

Successful innovations could induce more disclosure if the information asymmetry between
the firm and its investors about post-innovation outcomes leads investors to demand more …