Maria M. Correia

TL;DR: This article examined whether firms and executives with long-term political connections through contributions and lobbying incur lower costs from the enforcement actions by the Securities and Exchange Commission (SEC) and found that politically connected firms on average are less likely to be involved in SEC enforcement actions and face lower penalties if they are prosecuted by the SEC.

TL;DR: This paper examined whether firms and executives with long-term political connections through contributions and lobbying incur lower costs from the enforcement actions by the Securities and Exchange Commission (SEC) and found that politically connected firms on average are less likely to be involved in SEC enforcement actions and face lower penalties if they are prosecuted by the SEC.

TL;DR: This paper explored the effect of cross-sectional and time-series differences in financial reporting attributes on the predictive ability of financial ratios for bankruptcy and identified proxies for discretion over financial reporting, the importance of intangible assets, the comprehensiveness of the accounting model and recognition of losses.

TL;DR: A Brief History of the Literature on Financial Ratios as Predictors of Distress can be found in this article, where the authors propose a model for predicting the probability of bankruptcy.

TL;DR: In this article, a parsimonious empirical model to assess the relative usefulness of accounting and equity market-based information to explain corporate credit spreads is presented, and it is shown that credit spreads reflect information about forecasted default rates with a significant lag.