_____________________________________________________________________________ Abstract: Significant increases in the level of target leverage have been previously documented, following unsuccessful takeover attempts. Increased leverage may signal managerial commitment to improved performance, suggesting that corporate performance and leverage should be positively related. If, however, the incre...

the management of the firms with the high incremental debt usually has more incentives to satisfy the creditors via the earning management. of course, the demand of annually auditing reports by professional auditing institutions that is one of the provider's (creditor's) conditions, cause to management face chief limitations and forbiddances in the field of earning management. accordi...

We evaluate and partially challenge the household leverage view of Great Recession. In data, employment consumption declined more in U.S. states where debt more. study a model monetary union composed many regions which liquidity constraints shape response to changes debt. estimate with Bayesian methods combining state aggregate data. Changes credit explain 40% differential rise fall across stat...