Ivan E Brick -
Rutgers-The State University of New Jersey, Newark, NJ 07102
Oded Palmon -
Rutgers-The State University of New Jersey, New Brunswick, NJ 08903. We greatly appreciate the comments from an anonymous referee, Douglas Emery, C. F. Lee, Avri Ravid, and participants of seminars at Fordham University and Rutgers University. We are especially indebted to David Mauer for his comments and suggestions. Any remaining errors are our responsibility. This paper has been partially funded by the New Jersey Center for Research in Financial Services and the Coordinating Council for Business Studies at Rutgers University