We explore how embedded options in assets and liabilities of financial institutions impact
interest rate risk, which is measured by equity value change with interest rate movements. We …

… Furthermore, the low tendency for crude oil price returns to drive stock returns of Ghana
is not surprising, since Ghana’s stock market index has its stocks dominating exchange of …

This research examines whether differences in state personal income taxes affect relative
state and local government borrowing costs. The results indicate that borrowing costs are …

… Second, assuming that COVID-19 as an innovation shock is related to the stock market …
-term impact on the stock market. Third, this study investigated whether the US stock market has …

… -issue, short-term yields as bank investments drive the market cleating process. On the other
hand, … Kidwell, DS, Koch, TW, and Stock, DR The impact of state income taxes on municipal …

Numerous studies have examined the impact of security issuance upon the value of pre-existing
debt and equity but the focus has largely been on changes in equity value. We examine …

… I establish that most of the stock price changes (70% in the case of the stock market) are …
on the stock market as a whole. The second argument is that the fraction of the stock market …

… To the extent that strong operating cash flow drives growth in assets, liabilities and the stock
price, convertible calls may merely coincide with (rather than drive) incremental investment …

… This study provides global evidence on how US uncertainties can drive spillovers between
the US and other stock markets by considering various stock markets worldwide. Apart from …

… power of default risk in connection with the presence of a call provision, while consistent
with the debt agency cost hypothesis, could also be attributable to omitted variables that drive …