Empirical Evidence on Mortgage Choice as a Screening Mechanism for Default Risk

2011 ◽  
Vol 20 (1) ◽  
pp. 1-18 ◽  
Author(s):  
David Harrison ◽  
Thomas Noordewier
Keyword(s):  
Empirical Evidence ◽  
Default Risk ◽  
Mortgage Choice

Default Risk and the Effects of Fiscal Policy on Interest Rates: 1929–1945

1988 ◽  
Vol 16 (3) ◽  
pp. 357-373
Author(s):  
David Bowles ◽  
Holley Ulbrich ◽  
Myles Wallace
Keyword(s):  
Fiscal Policy ◽  
Interest Rates ◽  
Empirical Evidence ◽  
Risk Premium ◽  
Default Risk ◽  
Corporate Bonds ◽  
Private Investment ◽  
Crowding Out ◽  
Government Bonds ◽  
Macroeconomic Models

Conventional macroeconomic models suggest that expansionary fiscal policy causes higher interest rates, resulting in crowding out of private investment. In this article, we argue that such models ignore the default risk differential between the interest rates on government bonds and corporate bonds. If expansionary fiscal policy causes an expansion in real GNP, default risk falls on corporate bonds. Our model suggests that if the default risk premium falls, (1) corporate interest rates may fall relative to rates on government bonds and (2) private investment is crowded in. We find some supporting empirical evidence of this effect for the period 1929–1945.

scholarly journals Delving into the Determinants of Default Risk in Savings Groups: Empirical Evidence from Ecuador

2021 ◽  
Author(s):  
Pilar López-Sánchez ◽  
Elena Urquía-Grande ◽  
Cristina del Campo ◽  
Andrés L. Cancer
Keyword(s):  
Empirical Evidence ◽  
Default Risk

scholarly journals The corporate governance drivers: What relations with performance and risk? Empirical evidence from Italian contex

2013 ◽  
Vol 10 (4) ◽  
pp. 510-523 ◽  
Author(s):  
Francesca Bernini ◽  
Giovanna Mariani ◽  
Delio Panaro
Keyword(s):  
Corporate Governance ◽  
Empirical Evidence ◽  
Default Risk ◽  
Family Firms ◽  
Good Governance ◽  
Z Score ◽  
Governance Quality ◽  
Good Relation ◽  
And Performance ◽  
Corporate Governance Quality

Considering a sample of Italian firms and defining a good Governance index (gGI), we investigated if there is a relation between the gGI, the performance and the default risk and which governance determinants are most responsible of these effects. To deepen the analysis, the aforementioned relations are also observed by comparing family and non-family firms and the companies more or less active in M&A. We found that the Corporate Governance quality presents some correlations with performance and risk. The non-family companies are better structured, showing a positive correlation between some Corporate Governance drivers and performance and Z-score. Furthermore, the “well-advised” firms in external strategies are able to obtain a better correlation with performance and also a good relation with Z-score.

Clientele Change, Liquidity Shock, and the Return on Financially Distressed Stocks

2010 ◽  
Vol 45 (1) ◽  
pp. 27-48 ◽  
Author(s):  
Zhi Da ◽  
Pengjie Gao
Keyword(s):  
Empirical Evidence ◽  
Default Risk ◽  
Abnormal Returns ◽  
Small Subset ◽  
Short Term ◽  
Financially Distressed ◽  
Liquidity Shock ◽  
Return Reversal ◽  
Return Reversals

AbstractWe show that the abnormal returns on high default risk stocks documented by Vassalou and Xing (2004) are driven by short-term return reversals rather than systematic default risk. These abnormal returns occur only during the month after portfolio formation and are concentrated in a small subset of stocks that had recently experienced large negative returns. Empirical evidence supports the view that the short-term return reversal arises from a liquidity shock triggered by a clientele change.

Challenges to the social motivation theory of autism: The dangers of counteracting an imprecise theory with even more imprecision

2019 ◽  
Vol 42 ◽  
Author(s):  
Mirko Uljarević ◽  
Giacomo Vivanti ◽  
Susan R. Leekam ◽  
Antonio Y. Hardan
Keyword(s):  
Empirical Evidence ◽  
Social Motivation ◽  
Motivation Theory ◽  
The Social

Abstract The arguments offered by Jaswal & Akhtar to counter the social motivation theory (SMT) do not appear to be directly related to the SMT tenets and predictions, seem to not be empirically testable, and are inconsistent with empirical evidence. To evaluate the merits and shortcomings of the SMT and identify scientifically testable alternatives, advances are needed on the conceptualization and operationalization of social motivation across diagnostic boundaries.

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