For a better link try:
https://faculty-gsb.stanford.edu/st...e, Longstaff, Schaefer, Strebulaev (2011).pdf
I am not aware of similar research on financial firms, but I will have a look...
It is 1:30 pm here, but if you pack it in and go to bed, I will conceded that you need sleep and haven't given up the fight...
Cheers
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