Recently, there has been a fast-growing literature on the determinants of corporate bond
returns, in particular, the driving force of cross-sectional return variation. In this review, we …

In the earliest days of empirical work in academic finance, the size effect was the first market
anomaly to challenge the standard asset pricing model and prompt debates about market …

We offer several suggestions for researchers using corporate bond return data. First, despite
clear instructions from older papers (eg, Bessembinder et al., The Review of Financial …

Style investing has become part of the investing nomenclature for equity markets. To date,
despite the massive size of fixed income markets, little research has examined the efficacy of …

This paper investigates the application of factor investing in corporate bonds. Our results
show that proficiency in the drivers of risk and return, the factors, should be used for bottom …

Purpose The size effect that there exist return differences between small market-cap firms
and large market-cap counterparts in the stock market has become one of the most …

We use stochastic dynamic programming to design and solve an extended structural setting
for which the illiquidity of the firm's assets under liquidation is interpreted as an intangible …

Although factor investing has become an industry standard, the debate over which factors
drive the risk and return of various asset classes across the globe is ongoing. The literature …

This case study of the Flint water crisis demonstrates the effects that can result from focusing
on the task of improving the creditworthiness of a financially distressed municipality with …

This article expands the investigation of systematic investing to broadly syndicated,
leveraged loans. The results reveal that systematic exposures to (short-term) value …