Capital Markets Sources and Further Reading, Part 1 of 2: where the research comes from

About this page

Every claim in Capital Markets traces back to a primary source: regulators, central banks, standard-setters and the statutes themselves. This page collects those references, grouped by topic, so you can check any figure or rule at its origin.

If you are studying, writing or building a model, start here. The links point to government and standard-setter pages that change rarely, so they stay useful for years. Each entry says what the source supports, so you can go straight to the one you need.

A sample of the sources (141 entries on the full page)

Regulation DD (Truth in Savings), 12 CFR Part 1030, Appendix A: Annual Percentage Yield Calculation — APY formula on a 365-day basis (0.4)

Blume, M. (1975), Betas and Their Regression Tendencies, Journal of Finance 30(3), 785–795 — Measured betas drift toward 1; basis for adjusted beta (0.4)

Damodaran Online, home page (implied equity risk premium) — Implied ERP 4.14% on September 1, 2026, against a 4.75% Treasury rate (1.5)

BVWire, Avoid this inconsistency with the terminal value — Mid-year convention: Gordon TV discounted N − 0.5, exit-multiple TV N (1.3)

Frank and Goyal (2003), Testing the Pecking Order Theory of Capital Structure, Journal of Financial Economics 67(2) — Evidence against the pecking order (1.6)

Campa and Kedia (2002), Explaining the Diversification Discount, Journal of Finance 57(4) — Self-selection and the conglomerate discount (1.9)

SEBI circular SEBI/HO/MRD/MRD-PoD-3/P/CIR/2024/86, special call auction for investment companies (June 20, 2024) — Holding-company discount mechanism (India Lens)

26 CFR 1.338(h)(10)-1 — Deemed asset sale election and eligible targets (2.2)

Moeller, Schlingemann & Stulz, NBER w10200 — $240 billion acquirer loss, 12 cents per dollar, 1998–2001 (2.4)

Phalippou, An Inconvenient Fact (SSRN 3623820) — PE returns about equal to public indices since 2006; $230 billion carry (2.9)

NBER Business Cycle Dating — Peaks and troughs; latest peak February 2020, trough April 2020 (Part 3.5)

S&P Global Ratings, 2023 Annual Global Corporate Default and Rating Transition Study (March 2024) — BBB average one-year default rate 0.14% and five-year cumulative 1.38%, 1981–2023 (Part 3.6)

SEC Commissioner Uyeda, remarks at the 2026 U.S. Treasury Market Conference (Sep 22, 2026) — Treasury clearing deadlines: cash Dec 31, 2026; repo Jun 30, 2027 (Parts 3.7, 3.8)

Reserve Bank of India, Government Securities Market in India: A Primer — G-sec coupons, 30/360, T+1, NDS-OM, CCIL (India Lens)

1997 Prize in Economic Sciences press release (Royal Swedish Academy of Sciences) — Black-Scholes 1973; Merton and Scholes prize; Black’s death in 1995 (4.4)

ECB euro area AAA yield curve, 1-year spot rate — 2.96% continuously compounded on Sep 30, 2026 (4.6)

Federal Reserve testimony on government assistance to AIG (Scott G. Alvarez, May 26, 2010) — AIG CDS collateral calls and the $85 billion facility of September 16, 2008 (4.7)

FRED, S&P 500 (SP500) — Daily index levels Oct 2016–Oct 2026 for the VaR, expected shortfall and backtest calculations (5.5, 5.6).

Bank of England, letter from Sir Jon Cunliffe to the Treasury Committee, October 5, 2022 — LDI mechanics; over £1 trillion in LDI; 160 bp rise; 29 bp prior record; 100 bp stress assumption (5.6).

Grossman and Stiglitz, “On the Impossibility of Informationally Efficient Markets,” American Economic Review, 1980 — Bibliographic record for the informational-efficiency paradox (5.3).

AMFI Monthly Note, August 2026 — Passive AUM ₹15,41,732 crore of ₹87,07,888 crore industry AUM (India Lens).

House of Commons BEIS and Work and Pensions Committees: Carillion (May 2018) — 120-day terms, early payment at 45 days, ~£350m drawn of £500m, Moody’s £498m (6.3)

Deloitte Roadmap: recognition of deferred tax assets, US GAAP vs IFRS — Valuation allowance (more likely than not) vs IAS 12 probable test (6.5, Tier-1 item 7)

Enron Form 8-K (Nov 8, 2001) — Restatement: −$591m net income 1997–2000, +$628m debt 2000; Chewco, JEDI, LJM (6.8)