Borrowing cost reduction by interest rate swaps––an option pricing analysis q Abstract Interest rate swaps generally involve two firms with different credit ratings. A quality spread differential (QSD) is observed to exist at different maturities for firm debts with different credit ratings. The quality spread differential allows two firms with different credit ratings to decrease their borrowi...

Emotion Analysis is the task of modelling latent emotions present in natural language. Labelled datasets for this task are scarce so learning good input text representations is not trivial. Using averaged word embeddings is a simple way to leverage unlabelled corpora to build text representations but this approach can be prone to noise either coming from the embedding themselves or the averagin...

This analysis explores the feasibility of sorting UK funds into three different styles, which are widely used in the US. In an overview of major factors’ impact on the expected risk of a fund, the analysis shows that leverage is by far the most influential factor, followed by the subtype diversification. In a preliminary style-classification, the study uses Loan-to-Value ratio (LTV) as the domi...

We examine the determinants of aggregate corporate capital structure using a novel dataset of accounting and market information that spans most publicly traded firms over the last century. We show that the stability of nonfinancial aggregate leverage over this period reflects two opposing forces. First, regulated sectors, such as railroads, delevered and contracted in size. Second, unregulated ...

This study examines the effects of co-opted directors and further tests monitoring effectiveness non-co-opted independent on capital structure decisions. Employing a large sample 2548 US firms over 1996–2015 period, we find strong evidence that boards exert positive significant influence firms' financial leverage. We also that, whereas are positively associated with leverage, have negative firm...

Inferring user preferences over a set of items is an important problem that has found numerous applications. This work focuses on the scenario where the explicit feature representation of items is unavailable, a setup that is similar to collaborative filtering. In order to learn a user’s preferences from his/her response to only a small number of pairwise comparisons, we propose to leverage the...

We empirically examine whether firms increase financial leverage following mergers. Firms could increase financial leverage either because of an increase in debt capacity or because of unused debt capacity from pre-merger years. We find that financial leverage of combined firms increases significantly following mergers. A cross-sectional analysis shows that the change in financial leverage arou...

The paper aims to investigate the effect of financial leverage, profitability, liquidity ratios, cash holdings, and interest coverage ratios on level integrated reporting disclosure—as one reports that promotes sustainable development—of Jordanian industrial listed companies. content analysis method was used analyze annual 51 companies during years from 2014 2019 (306 firm-year observations). s...