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Keywords: GDP
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Journal Articles
Journal:
Accounting Horizons
Accounting Horizons (2016) 30 (1): 157–172.
Published: 01 March 2016
... and characteristics of MFs. Macroeconomic uncertainty is measured using the dispersion in GDP forecasts and the CBOE's Volatility Index (VIX). We find that during periods of high macroeconomic uncertainty there is a decrease in the likelihood of MF issuance, consistent with managers assigning a higher cost...
Includes: Supplementary data