This paper incorporates an annual probability of corporate failure into a standard equity valuation model, as an alternative or complementary correction for risk that improves in several ways over conventional risk premia or ad hoc adjustments to assumed growth rates. Though the correction is nonlinear, it can be reduced to an equivalent function that enters the valuation equation in the tradit...

Theoretical studies have noted that loan applicants rejected by one bank can apply at another bank, systematically worsening the pool of applicants faced by all banks. This paper presents the first empirical evidence of this effect and explores some additional ramifications, including the role of common filters, such as commercially available credit scoring models, in mitigating this adverse se...

In this article, a q-series examined by Kluyver and Uchimura is generalized. This allows us to find generalization of the identities in random acyclic digraph studied Simon, Crippa, Collenberg 1993. As one corollaries our main theorem, we get results Dilcher Andrews, Simon. theorem involves surprising new divisor function σs(n), which denote σs,z(n). Analytic properties σs,z(n) are also studied...

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