NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Financial Economics: Corporate Finance and Governance


2014
w20310 Justin Murfin
Mitchell Petersen

Loans on Sale: Credit Market Seasonality, Borrower Need, and Lender Rent Seeking

w20286 Claudia Buch
Linda S. Goldberg

International Banking and Liquidity Risk Transmission: Lessons from Across Countries

w20300 Alex Edmans
Lucius Li
Chendi Zhang

Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around The World

w20285 Ricardo Correa
Linda S. Goldberg
Tara Rice

Liquidity Risk and U.S. Bank Lending at Home and Abroad

w20274 René M. Stulz
Governance, Risk Management, and Risk-Taking in Banks

w20254 Efraim Benmelech
Nittai Bergman
Anna Milanez
Vladimir Mukharlyamov

The Agglomeration of Bankruptcy

w20187 Jaewon Choi
Matthew P. Richardson
Robert F. Whitelaw

On the Fundamental Relation Between Equity Returns and Interest Rates

w20176 Stephen G. Dimmock
William C. Gerken
Zoran Ivković
Scott J. Weisbenner

Capital Gains Lock-In and Governance Choices

w20138 Jonathan B. Berk
Jules H. van Binsbergen
Binying Liu

Matching Capital and Labor

w20121 Murillo Campello
Rafael Perez Ribas
Yan Wang

Is the Stock Market Just a Side Show? Evidence from a Structural Reform

w20099 Paul Bergin
Ling Feng
Ching-Yi Lin

Financial Frictions and Firm Dynamics

w20090 Raymond Fisman
Yongxiang Wang

Corruption in Chinese Privatizations

w20081 Francesco Bianchi
Cosmin L. Ilut
Martin Schneider

Uncertainty Shocks, Asset Supply and Pricing over the Business Cycle

w20078 Howard Bodenhorn
Eugene N. White

The Evolution of Bank Boards of Directors in New York, 1840-1950

w20038 Simon Gilchrist
Jae W. Sim
Egon Zakrajšek

Uncertainty, Financial Frictions, and Investment Dynamics

w20028 Benjamin E. Hermalin
Michael S. Weisbach

Understanding Corporate Governance Through Learning Models of Managerial Competence

w20009 Patrick Bolton
Hui Chen
Neng Wang

Debt, Taxes, and Liquidity

w19991 David Yermack
Yuanzhi Li

Evasive Shareholder Meetings

w19975 David Yermack
Yehuda Izhakian

Risk, Ambiguity, and the Exercise of Employee Stock Options

w19957 Peter Koudijs
Hans-Joachim Voth

Leverage and Beliefs: Personal Experience and Risk Taking in Margin Lending

w19953 C. Fritz Foley
Paul Goldsmith-Pinkham
Jonathan Greenstein
Eric Zwick

Opting Out of Good Governance

w19947 Dirk Czarnitzki
Bronwyn H. Hall
Hanna Hottenrott

Patents as Quality Signals? The Implications for Financing Constraints on R&D

w19946 Konstantin Milbradt
Martin Oehmke

Maturity Rationing and Collective Short-Termism

w19910 John Graham
Mark T. Leary
Michael R. Roberts

A Century of Capital Structure: The Leveraging of Corporate America

w19901 Serguey Braguinsky
Atsushi Ohyama
Tetsuji Okazaki
Chad Syverson

Acquisitions, Productivity, and Profitability: Evidence from the Japanese Cotton Spinning Industry

w19845 Manuel Adelino
Song Ma
David T. Robinson

Firm Age, Investment Opportunities, and Job Creation

w19809 Kathy Fogel
Liping Ma
Randall Morck

Powerful Independent Directors

w19806 Charles W. Calomiris
Mark Carlson

Corporate Governance and Risk Management at Unprotected Banks: National Banks in the 1890s

w19799 Dalida Kadyrzhanova
Matthew Rhodes-Kropf

Governing Misvalued Firms

w19786 Geert Bekaert
Campbell R. Harvey
Christian T. Lundblad
Stephan Siegel

Political Risk Spreads

w19782 Efraim Benmelech
Carola Frydman

Military CEOs


2013
w19708 Viral V. Acharya
Zhaoxia Xu

Financial Dependence and Innovation: The Case of Public versus Private Firms

w19707 Viral V. Acharya
Hanh Le
Hyun Song Shin

Bank Capital and Dividend Externalities

w19691 Eugene Kandel
Konstantin Kosenko
Randall Morck
Yishay Yafeh

Business Groups in the United States: A Revised History of Corporate Ownership, Pyramids and Regulation, 1930-1950

w19680 Martin C. Schmalz
David A. Sraer
David Thesmar

Housing Collateral and Entrepreneurship

w19669 Kerry Back
Tao Li
Alexander Ljungqvist

Liquidity and Governance

w19633 William Gornall
Ilya A. Strebulaev

Financing as a Supply Chain: The Capital Structure of Banks and Borrowers

w19619 Pierre Collin-Dufresne
Vyacheslav Fos

Moral Hazard, Informed Trading, and Stock Prices

w19612 Morten Sorensen
Neng Wang
Jinqiang Yang

Valuing Private Equity

w19609 Annette Alstadsæter
Wojciech Kopczuk
Kjetil Telle

Are Closely-Held Firms Tax Shelters?

w19606 Sumit Agarwal
Itzhak Ben-David
Vincent Yao

Collateral Valuation and Borrower Financial Constraints: Evidence from the Residential Real Estate Market

w19594 Thomas F. Cooley
Ramon Marimon
Vincenzo Quadrini

Risky Investments with Limited Commitment

w19573 Alex Edmans
Blockholders and Corporate Governance

w19557 Luigi Guiso
Paola Sapienza
Luigi Zingales

The Value of Corporate Culture

w19551 Joan Farre-Mensa
Alexander Ljungqvist

Do Measures of Financial Constraints Measure Financial Constraints?

w19502 Heitor Almeida
Murillo Campello
Igor Cunha
Michael S. Weisbach

Corporate Liquidity Management: A Conceptual Framework and Survey

w19497 Linda S. Goldberg
Banking Globalization, Transmission, and Monetary Policy Autonomy

w19467 Patrick Bolton
Xavier Freixas
Leonardo Gambacorta
Paolo Emilio Mistrulli

Relationship and Transaction Lending in a Crisis

w19462 Hyunbae Chun
Jung-Wook Kim
Randall Morck

Productivity Growth and Stock Returns: Firm- and Aggregate-Level Analyses

w19432 Ing-Haw Cheng
Harrison Hong
Kelly Shue

Do Managers Do Good with Other People's Money?

w19428 Claudio Loderer
René Stulz
Urs Waelchli

Limited Managerial Attention and Corporate Aging

w19420 Alex Edmans
Mirko Heinle
Chong Huang

The Real Costs of Disclosure

w19415 Bo Becker
Jens Josephson

Insolvency Resolution and the Missing High Yield Bond Markets

w19407 Alex Edmans
Vivian W. Fang
Katharina A. Lewellen

Equity Vesting and Managerial Myopia

w19395 William Mullins
Antoinette Schoar

How do CEOs see their Role? Management Philosophy and Styles in Family and Non-Family Firms

w19380 Ross Levine
Yona Rubinstein

Liberty for More: Finance and Educational Opportunities

w19379 Ramana Nanda
Matthew Rhodes-Kropf

Innovation and the Financial Guillotine

w19378 Marc Martos-Vila
Matthew Rhodes-Kropf
Jarrad Harford

Financial vs. Strategic Buyers

w19358 Ulf Brüggemann
Aditya Kaul
Christian Leuz
Ingrid M. Werner

The Twilight Zone: OTC Regulatory Regimes and Market Quality

w19347 Arthur Korteweg
Stefan Nagel

Risk-Adjusting the Returns to Venture Capital

w19330 Yihui Pan
Tracy Yue Wang
Michael S. Weisbach

CEO Investment Cycles

w19278 Russell Cooper
Kalin Nikolov

Government Debt and Banking Fragility: The Spreading of Strategic Uncertainty

w19276 Ross Levine
Yona Rubinstein

Smart and Illicit: Who Becomes an Entrepreneur and Does it Pay?

w19261 Lee Biggerstaff
David C. Cicero
Andy Puckett

Unethical Culture, Suspect CEOs and Corporate Misbehavior

w19251 Joseph J. Gerakos
Chad Syverson

Competition in the Audit Market: Policy Implications

w19229 René M. Stulz
Dimitrios Vagias
Mathijs A. van Dijk

Do Firms Issue more equity when markets are more liquid?

w19204 Andrew G. Atkeson
Andrea L. Eisfeldt
Pierre-Olivier Weill

Measuring the Financial Soundness of U.S. Firms, 1926–2012

w19170 Thomas Chaney
Liquidity Constrained Exporters

w19146 Rajnish Mehra
Asset Pricing Implications of Macroeconomic Interventions An Application to Climate Policy

w19139 Harry DeAngelo
René M. Stulz

Why High Leverage is Optimal for Banks

w19120 Michael Ewens
Matthew Rhodes-Kropf

Is a VC Partnership Greater than the Sum of its Partners?

w19081 T. Christopher Borek
Angelo Frattarelli
Oliver Hart

Tax Shelters or Efficient Tax Planning? A Theory of The Firm Perspective On the Economic Substance Doctrine

w19078 Xavier Gabaix
Augustin Landier
Julien Sauvagnat

CEO Pay and Firm Size: an Update after the Crisis

w19051 Tobias Berg
Manju Puri
Jorg Rocholl

Loan officer Incentives and the Limits of Hard Information

w19018 Malcolm Baker
Jeffrey Wurgler

Do Strict Capital Requirements Raise the Cost of Capital? Banking Regulation and the Low Risk Anomaly

w19017 Randall Morck
Bernard Yeung
Wayne Yu

R-squared and the Economy

w19004 Randall Morck
M. Deniz Yavuz
Bernard Yeung

State-controlled Banks and the Effectiveness of Monetary Policy

w18955 Howard Bodenhorn
Large Block Shareholders, Institutional Investors, Boards of Directors and Bank Value in the Nineteenth Century

w18943 Tobias Adrian
Hyun Song Shin

Procyclical Leverage and Value-at-Risk

w18914 Stefano Giglio
Kelly Shue

No News is News: Do Markets Underreact to Nothing?

w18909 Bo Becker
Victoria Ivashina

Reaching for Yield in the Bond Market

w18903 Jongha Lim
Berk A. Sensoy
Michael S. Weisbach

Indirect Incentives of Hedge Fund Managers

w18895 Kris James Mitchener
Gary Richardson

Does “Skin in the Game” Reduce Risk Taking? Leverage, Liability and the Long-Run Consequences of New Deal Banking Reforms

w18892 Viral V. Acharya
Heitor Almeida
Filippo Ippolito
Ander Perez

Credit Lines as Monitored Liquidity Insurance: Theory and Evidence

w18891 Viral V. Acharya
Marco Pagano
Paolo Volpin

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

w18890 Mary Amiti
David E. Weinstein

How Much do Bank Shocks Affect Investment? Evidence from Matched Bank-Firm Loan Data

w18886 Tanja Artiga González
Markus Schmid
David Yermack

Smokescreen: How Managers Behave When They Have Something To Hide

w18882 Yihui Pan
Tracy Yue Wang
Michael S. Weisbach

Learning about CEO Ability and Stock Return Volatility

w18868 Manuel Adelino
Antoinette Schoar
Felipe Severino

House Prices, Collateral and Self-Employment

w18857 Augustin Landier
David Sraer
David Thesmar

Banks' Exposure to Interest Rate Risk and The Transmission of Monetary Policy

w18840 Isil Erel
Yeejin Jang
Michael S. Weisbach

Do Acquisitions Relieve Target Firms’ Financial Constraints?

w18793 Berk A. Sensoy
Yingdi Wang
Michael S. Weisbach

Limited Partner Performance and the Maturing of the Private Equity Industry

w18766 Jaromir Nosal
Guillermo Ordoñez

Uncertainty as Commitment

w18762 Jing Wu
Joseph Gyourko
Yongheng Deng

Is There Evidence of a Real Estate Collateral Channel Effect on Listed Firm Investment in China?

w18724 Robert L. McDonald
Measuring Margin

w18677 Alex Edmans
William Mann

Financing Through Asset Sales


2012
w18650 Laura Alfaro
Anusha Chari

Deregulation, Misallocation, and Size: Evidence from India

w18634 Nolan Miller
Alexander F. Wagner
Richard J. Zeckhauser

Solomonic Separation: Risk Decisions as Productivity Indicators

w18609 Sumit Agarwal
Efraim Benmelech
Nittai Bergman
Amit Seru

Did the Community Reinvestment Act (CRA) Lead to Risky Lending?

w18600 Jennie Bai
Shang-Jin Wei

When Is There a Strong Transfer Risk from the Sovereigns to the Corporates? Property Rights Gaps and CDS Spreads

w18592 Xavier Giroud
Holger M. Mueller

Capital and Labor Reallocation Inside Firms

w18561 Kalina Manova
Zhihong Yu

Firms and Credit Constraints along the Global Value Chain: Processing Trade in China

w18549 Tobias Adrian
Brian Begalle
Adam Copeland
Antoine Martin

Repo and Securities Lending

w18537 Robin Greenwood
Augustin Landier
David Thesmar

Vulnerable Banks

w18516 Viral V. Acharya
Ramin P. Baghai
Krishnamurthy V. Subramanian

Wrongful Discharge Laws and Innovation

w18476 Harrison Hong
Jeffrey D. Kubik
Jose A. Scheinkman

Financial Constraints on Corporate Goodness

w18472 Jesse Edgerton
Investment, Accounting, and the Salience of the Corporate Income Tax

w18452 Pierre Collin-Dufresne
Vyacheslav Fos

Do prices reveal the presence of informed trading?

w18415 Peter Egger
Christian Keuschnigg
Valeria Merlo
Georg Wamser

Corporate Taxes and Internal Borrowing within Multinational Firms

w18414 Bruce A. Blonigen
Lionel Fontagné
Nicholas Sly
Farid Toubal

Cherries for Sale: Export Networks and the Incidence of Cross-Border M&A

w18395 Steven N. Kaplan
Executive Compensation and Corporate Governance in the U.S.: Perceptions, Facts and Challenges

w18360 Guillermo Ordoñez
The Asymmetric Effects of Financial Frictions

w18367 Hui Chen
Yu Xu
Jun Yang

Systematic Risk, Debt Maturity, and the Term Structure of Credit Spreads

w18356 Jongha Lim
Bernadette A. Minton
Michael Weisbach

Syndicated Loan Spreads and the Composition of the Syndicate

w18346 Gordon M. Phillips
Alexei Zhdanov

R&D and the Incentives from Merger and Acquisition Activity

w18297 Albert N. Link
Christopher J. Ruhm
Donald S. Siegel

Private Equity and the Innovation Strategies of Entrepreneurial Firms: Empirical Evidence from the Small Business Innovation Research Program

w18274 Nicolas Berman
José De Sousa
Philippe Martin
Thierry Mayer

Time to Ship During Financial Crises

w18270 Craig B. Merrill
Taylor D. Nadauld
René M. Stulz
Shane Sherlund

Did Capital Requirements and Fair Value Accounting Spark Fire Sales in Distressed Mortgage-Backed Securities?

w18263 Florian Heider
Alexander Ljungqvist

As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from Exogenous State Tax Changes

w18242 Malcolm Baker
Jeffrey Wurgler

Dividends as Reference Points: A Behavioral Signaling Approach

w18208 Jennifer Brown
David A. Matsa

Boarding a Sinking Ship? An Investigation of Job Applications to Distressed Firms

w18211 Ulrike Malmendier
Marcus Matthias Opp
Farzad Saidi

Cash is King - Revaluation of Targets after Merger Bids

w18160 Douglas W. Diamond
Zhiguo He

A Theory of Debt Maturity: The Long and Short of Debt Overhang

w18154 Loukas Karabarbounis
Brent Neiman

Declining Labor Shares and the Global Rise of Corporate Saving

w18148 Stewart C. Myers
James A. Read
Jr.

Real Options, Taxes and Financial Leverage

w18147 Murillo Campello
Erasmo Giambona

Real Assets and Capital Structure

w18141 Paul Gompers
Vladimir Mukharlyamov
Yuhai Xuan

The Cost of Friendship

w18120 Lee Pinkowitz
René M. Stulz
Rohan Williamson

Multinationals and the High Cash Holdings Puzzle

w18107 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Trade Credit and Taxes

w18082 Christopher L. Foote
Kristopher S. Gerardi
Paul S. Willen

Why Did So Many People Make So Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis

w18024 Ulrike Malmendier
Enrico Moretti
Florian S. Peters

Winning by Losing: Evidence on the Long-Run Effects of Mergers

w18001 Robert Davidson
Aiyesha Dey
Abbie J. Smith

Executives' "Off-The-Job" Behavior, Corporate Culture, and Financial Reporting Risk

w17981 Yan Leung Cheung
P. Raghavendra Rau
Aris Stouraitis

How much do firms pay as bribes and what benefits do they get? Evidence from corruption cases worldwide

w17950 Robert G. Eccles
Ioannis Ioannou
George Serafeim

The Impact of Corporate Sustainability on Organizational Processes and Performance

w17946 Ilya A. Strebulaev
Baozhong Yang

The Mystery of Zero-Leverage Firms

w17945 Steven Grenadier
Andrey Malenko
Ilya A. Strebulaev

Investment Busts, Reputation, and the Temptation to Blend in with the Crowd

w17942 David T. Robinson
Berk A. Sensoy

Do Private Equity Managers Earn Their Fees? Compensation, Ownership, and Cash Flow Performance

w17940 David Yermack
Tailspotting: Identifying and profiting from CEO vacation trips

w17935 Zhiguo He
Wei Xiong

Debt Financing in Asset Markets

w17920 Zhiguo He
Gregor Matvos

Debt and Creative Destruction: Why Could Subsidizing Corporate Debt be Optimal?

w17909 Charles A.E. Goodhart
Anil K Kashyap
Dimitrios P. Tsomocos
Alexandros P. Vardoulakis

Financial Regulation in General Equilibrium

w17904 Nikolai Roussanov
Pavel G. Savor

Status, Marriage, and Managers' Attitudes To Risk

w17874 Robert S. Harris
Tim Jenkinson
Steven N. Kaplan

Private Equity Performance: What Do We Know?

w17873 Nicola Cetorelli
Linda S. Goldberg

Follow the Money: Quantifying Domestic Effects of Foreign Bank Shocks in the Great Recession

w17867 Isil Erel
Yeejin Jang
Michael S. Weisbach

Financing-Motivated Acquisitions

w17856 Jongha Lim
Bernadette A. Minton
Michael S. Weisbach

Equity-Holding Institutional Lenders: Do they Receive Better Terms?

w17854 Kay Giesecke
Francis A. Longstaff
Stephen Schaefer
Ilya Strebulaev

Macroeconomic Effects of Corporate Default Crises: A Long-Term Perspective

w17831 Atif R. Mian
Amir Sufi
Francesco Trebbi

Resolving Debt Overhang: Political Constraints in the Aftermath of Financial Crises

w17808 Howard Bodenhorn
Voting Rights, Share Concentration, and Leverage at Nineteenth-Century US Banks

w17805 Murillo Campello
Dirk Hackbarth

The Firm-Level Credit Multiplier

w17797 Bo Becker
Daniel Bergstresser
Guhan Subramanian

Does Shareholder Proxy Access Improve Firm Value? Evidence from the Business Roundtable Challenge

w17763 Juan Carlos Gozzi
Ross Levine
Maria Soledad Martinez Peria
Sergio L. Schmukler

How Firms Use Domestic and International Corporate Bond Markets

w17760 Raghuram Rajan
The Corporation in Finance


2011
w17719 Philip Bond
Alex Edmans
Itay Goldstein

The Real Effects of Financial Markets

w17717 Gregor Matvos
Amit Seru

Resource Allocation within Firms and Financial Market Dislocation: Evidence from Diversified Conglomerates

w17696 Viral V. Acharya
Bart M. Lambrecht

A Theory of Income Smoothing When Insiders Know More Than Outsiders

w17663 Dirk Jenter
Katharina Lewellen

CEO Preferences and Acquisitions

w17661 Bo Becker
Per Strömberg

Fiduciary Duties and Equity-Debtholder Conflicts

w17660 Martin Goetz
Luc Laeven
Ross Levine

The Valuation Effects of Geographic Diversification: Evidence from U.S. Banks

w17631 Hui Tong
Shang-Jin Wei

Does Trade Globalization Induce or Inhibit Corporate Transparency? Unbundling the Growth Potential and Product Market Competition Channels

w17599 Patrick Bolton
Martin Oehmke

Should Derivatives be Privileged in Bankruptcy?

w17590 Antoinette Schoar
Luo Zuo

Shaped by Booms and Busts: How the Economy Impacts CEO Careers and Management Styles

w17582 Alex Edmans
Itay Goldstein
Wei Jiang

Feedback Effects and the Limits to Arbitrage

w17567 Alex Edmans
Vivian W. Fang
Emanuel Zur

The Effect of Liquidity on Governance

w17548 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

A Theory of Asset Pricing Based on Heterogeneous Information

w17518 Todd A. Gormley
Simon Johnson
Changyong Rhee

Ending "Too Big To Fail": Government Promises vs. Investor Perceptions

w17517 Alon Brav
Wei Jiang
Hyunseob Kim

The Real Effects of Hedge Fund Activism: Productivity, Risk, and Product Market Competition

w17516 John Y. Campbell
João F. Cocco

A Model of Mortgage Default

w17509 Miriam Schwartz-Ziv
Michael Weisbach

What do Boards Really Do? Evidence from Minutes of Board Meetings

w17481 Bo Becker
Marcus Jacob
Martin Jacob

Payout Taxes and the Allocation of Investment

w17468 Efraim Benmelech
Eyal Dvir

Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis

w17463 Asli M. Arikan
René M. Stulz

Corporate Acquisitions, Diversification, and the Firm’s Lifecycle

w17399 Steven J. Davis
John C. Haltiwanger
Ron S. Jarmin
Josh Lerner
Javier Miranda

Private Equity and Employment

w17394 John Asker
Joan Farre-Mensa
Alexander Ljungqvist

Comparing the Investment Behavior of Public and Private Firms

w17393 Bo Becker
Henrik Cronqvist
Rüdiger Fahlenbrach

Estimating the Effects of Large Shareholders Using a Geographic Instrument

w17387 John R. Graham
Sonali Hazarika
Krishnamoorthy Narasimhan

Corporate Governance, Debt, and Investment Policy during the Great Depression

w17370 John R. Graham
Campbell R. Harvey
Manju Puri

Capital Allocation and Delegation of Decision-Making Authority within Firms

w17368 John R. Graham
Si Li
Jiaping Qiu

Managerial Attributes and Executive Compensation

w17333 Malcolm Baker
Jeffrey Wurgler

Behavioral Corporate Finance: An Updated Survey

w17330 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

Information Aggregation, Investment, and Managerial Incentives

w17321 Marcin Kacperczyk
Philipp Schnabl

Implicit Guarantees and Risk Taking: Evidence from Money Market Funds

w17303 Carola Frydman
Raven Molloy

Pay Cuts for the Boss: Executive Compensation in the 1940s

w17292 Clemens Sialm
T. Mandy Tham

Spillover Effects in Mutual Fund Companies

w17290 Armen Hovakimian
Ayla Kayhan
Sheridan Titman

Are Corporate Default Probabilities Consistent with the Static Tradeoff Theory?

w17285 Xiaoji Lin
Lu Zhang

Covariances versus Characteristics in General Equilibrium

w17281 Darrell Duffie
Systemic Risk Exposures: A 10-by-10-by-10 Approach

w17237 Michelle J. White
Corporate and Personal Bankruptcy Law

w17233 Gordon M. Phillips
Giorgo Sertsios

How Do Firm Financial Conditions Affect Product Quality and Pricing?

w17221 Gerard Hoberg
Gordon M. Phillips

Conglomerate Industry Choice and Product Di fferentiation

w17197 Robin Greenwood
Samuel G. Hanson

Issuer Quality and the Credit Cycle

w17192 Efraim Benmelech
Nittai K. Bergman
Ricardo Enriquez

Negotiating with Labor Under Financial Distress

w17169 Chongyang Chen
Zhonglan Dai
Douglas Shackelford
Harold Zhang

Does Financial Constraint Affect Shareholder Taxes and the Cost of Equity Capital?

w17149 Bryan T. Kelly
Hanno Lustig
Stijn Van Nieuwerburgh

Too-Systemic-To-Fail: What Option Markets Imply About Sector-wide Government Guarantees

w17146 Leora F. Klapper
Luc Laeven
Raghuram Rajan

Trade Credit Contracts

w17144 Efraim Benmelech
Nittai K. Bergman
Amit Seru

Financing Labor

w17136 Viral V. Acharya
Itamar Drechsler
Philipp Schnabl

A Pyrrhic Victory? - Bank Bailouts and Sovereign Credit Risk

w17134 Jingjing Chai
Raimond Maurer
Olivia S. Mitchell
Ralph Rogalla

Lifecycle Impacts of the Financial and Economic Crisis on Household Optimal Consumption, Portfolio Choice, and Labor Supply

w17127 Lucian A. Bebchuk
Alma Cohen
Charles C.Y. Wang

Staggered Boards and the Wealth of Shareholders: Evidence from Two Natural Experiments

w17065 Christopher J. Mayer
Edward Morrison
Tomasz Piskorski
Arpit Gupta

Mortgage Modification and Strategic Behavior: Evidence from a Legal Settlement with Countrywide

w17061 Antoinette Schoar
Ebonya L. Washington

Are the Seeds of Bad Governance Sown in Good Times?

w17010 Mike Burkart
Denis Gromb
Holger M. Mueller
Fausto Panunzi

Legal Investor Protection and Takeovers

w17000 Viral V. Acharya
Alberto Bisin

Counterparty Risk Externality: Centralized Versus Over-the-counter Markets

w16995 Viral V. Acharya
Sergei A. Davydenko
Ilya A. Strebulaev

Cash Holdings and Credit Risk

w16975 Daniel Paravisini
Veronica Rappoport
Philipp Schnabl
Daniel Wolfenzon

Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data

w16941 Isil Erel
Brandon Julio
Woojin Kim
Michael S. Weisbach

Macroeconomic Conditions and Capital Raising

w16922 Thomas F. Hellmann
Noam Wasserman

The First Deal: The Division of Founder Equity in New Ventures

w16916 Craig Doidge
G. Andrew Karolyi
René M. Stulz

The U.S. Left Behind: The Rise of IPO Activity Around the World

w16905 Kalina Manova
Shang-Jin Wei
Zhiwei Zhang

Firm Exports and Multinational Activity Under Credit Constraints

w16896 Viral V. Acharya
Irvind Gujral
Nirupama Kulkarni
Hyun Song Shin

Dividends and Bank Capital in the Financial Crisis of 2007-2009

w16875 Viral V. Acharya
Lars A. Lochstoer
Tarun Ramadorai

Limits to Arbitrage and Hedging: Evidence from Commodity Markets

w16874 Vikas Mehrotra
Randall Morck
Jungwook Shim
Yupana Wiwattanakantang

Adoptive Expectations: Rising Sons in Japanese Family Firms

w16871 Yongheng Deng
Randall Morck
Jing Wu
Bernard Yeung

Monetary and Fiscal Stimuli, Ownership Structure, and China's Housing Market

w16870 Randall Morck
Finance and Governance in Developing Economies

w16849 Taylor D. Nadauld
Michael S. Weisbach

Did Securitization Affect the Cost of Corporate Debt?

w16843 Chong Wang
Neng Wang
Jinqiang Yang

Dynamics of Entrepreneurship under Incomplete Markets

w16842 Yingcong Lan
Neng Wang
Jinqiang Yang

The Economics of Hedge Funds: Alpha, Fees, Leverage, and Valuation

w16812 Carola Frydman
Raven S. Molloy

Does Tax Policy Affect Executive Compensation? Evidence from Postwar Tax Reforms

w16808 Patrick Bolton
Hui Chen
Neng Wang

Market Timing, Investment, and Risk Management

w16801 Andrew Ang
Sergiy Gorovyy
Gregory B. van Inwegen

Hedge Fund Leverage

w16787 Santiago Carbo-Valverde
Edward J. Kane
Francisco Rodriguez-Fernandez

Safety-Net Benefits Conferred on Difficult-to-Fail-and-Unwind Banks in the US and EU Before and During the Great Recession

w16770 Ravi Jagannathan
Iwan Meier
Vefa Tarhan

The Cross-Section of Hurdle Rates for Capital Budgeting: An Empirical Analysis of Survey Data

w16752 Russell Cooper
Hubert Kempf

Deposit Insurance Without Commitment: Wall St. Versus Main St

w16747 Laura Xiaolei Liu
Lu Zhang

A Model of Momentum

w16737 Hans B. Christensen
Luzi Hail
Christian Leuz

Capital-Market Effects of Securities Regulation: Hysteresis, Implementation, and Enforcement

w16727 Thomas Philippon
Philipp Schnabl

Informational Rents, Macroeconomic Rents, and Efficient Bailouts

w16724 Heitor Almeida
Murillo Campello
Dirk Hackbarth

Liquidity Mergers

w16676 Jesse Ellis
Sara B. Moeller
Frederik P. Schlingemann
René M. Stulz

Globalization, Governance, and the Returns to Cross-Border Acquisitions


2010
w16648 Ralph S.J. Koijen
Stijn Van Nieuwerburgh

Predictability of Returns and Cash Flows

w16642 Andrei Shleifer
Robert W. Vishny

Fire Sales in Finance and Macroeconomics

w16622 Murillo Campello
Chen Lin
Yue Ma
Hong Zou

The Real and Financial Implications of Corporate Hedging

w16620 Julio J. Rotemberg
A Behavioral Model of Demandable Deposits and its Implications for Financial Regulation

w16607 Markus K. Brunnermeier
Martin Oehmke

The Maturity Rat Race

w16585 Carola Frydman
Dirk Jenter

CEO Compensation

w16577 Jonathan A. Parker
Annette Vissing-Jorgensen

The Increase in Income Cyclicality of High-Income Households and its Relation to the Rise in Top Income Shares

w16574 Vicente Cuñat
Mireia Gine
Maria Guadalupe

The Vote is Cast: The Effect of Corporate Governance on Shareholder Value

w16558 Randall Morck
Shareholder Democracy in Canada

w16497 Xavier Giroud
Holger M. Mueller
Alex Stomper
Arne Westerkamp

Snow and Leverage

w16490 Randall Morck
Bernard Yeung

Agency Problems and the Fate of Capitalism

w16485 Viral V. Acharya
Peter M. DeMarzo
Ilan Kremer

Endogenous Information Flows and the Clustering of Announcements

w16484 Viral V. Acharya
Ramin P. Baghai
Krishnamurthy V. Subramanian

Labor Laws and Innovation

w16445 Joseph P.H. Fan
Sheridan Titman
Garry Twite

An International Comparison of Capital Structure and Debt Maturity Choices

w16437 Lauren Cohen
Christopher Malloy

Friends in High Places

w16432 Tamim Bayoumi
Hui Tong
Shang-Jin Wei

The Chinese Corporate Savings Puzzle: A Firm-level Cross-country Perspective

w16394 Viral V. Acharya
Yakov Amihud
Sreedhar T. Bharath

Liquidity Risk of Corporate Bond Returns: A Conditional Approach

w16377 Olivier Jeanne
Anton Korinek

Managing Credit Booms and Busts: A Pigouvian Taxation Approach

w16369 Ji-Woong Chung
Berk A. Sensoy
Lea H. Stern
Michael S. Weisbach

Pay for Performance from Future Fund Flows: The Case of Private Equity

w16340 Vikas Mehrotra
Randall Morck
Jungwook Shim
Yupana Wiwattanakantang

Must Love Kill the Family Firm?

w16336 Frederico Belo
Chen Xue
Lu Zhang

Cross-sectional Tobin's Q

w16310 Kathleen M. Kahle
René M. Stulz

Financial Policies and the Financial Crisis: How Important Was the Systemic Credit Contraction for Industrial Corporations?

w16309 Murillo Campello
Erasmo Giambona
John R. Graham
Campbell R. Harvey

Liquidity Management and Corporate Investment During a Financial Crisis

w16228 Francesco Giavazzi
Alberto Giovannini

Central Banks and the Financial System

w16216 Aldo Musacchio
Law and Finance c. 1900

w16215 Itzhak Ben-David
John R. Graham
Campbell R. Harvey

Managerial Miscalibration

w16214 Ravi Jagannathan
Andrei Jirnyi
Ann Sherman

Why Don't Issuers Choose IPO Auctions? The Complexity of Indirect Mechanisms

w16210 Bart M. Lambrecht
Stewart C. Myers

A Litner Model of Payout and Managerial Rents

w16206 Richard Stanton
Nancy Wallace

CMBS Subordination, Ratings Inflation, and the Crisis of 2007-2009

w16200 Efraim Benmelech
Nittai K. Bergman

Credit Traps

w16197 Ali Hortaçsu
Gregor Matvos
Chad Syverson
Sriram Venkataraman

Are Consumers Affected by Durable Goods Makers' Financial Distress? The Case of Auto Manufacturers

w16178 Andrew Ellul
Vijay Yerramilli

Stronger Risk Controls, Lower Risk: Evidence from U.S. Bank Holding Companies

w16176 Ing-Haw Cheng
Harrison Hong
Jose A. Scheinkman

Yesterday's Heroes: Compensation and Creative Risk-Taking

w16175 Antje Berndt
Burton Hollifield
Patrik Sandås

The Role of Mortgage Brokers in the Subprime Crisis

w16157 François Gourio
Jianjun Miao

Transitional Dynamics of Dividend and Capital Gains Tax Cuts

w16151 Hui Chen
Macroeconomic Conditions and the Puzzles of Credit Spreads and Capital Structure

w16129 Jennifer Blouin
Jana Raedy
Douglas Shackelford

Dividends, Share Repurchases, and Tax Clienteles: Evidence from the 2003 Reductions in Shareholder Taxes

w16122 Viral V. Acharya
Heitor Almeida
Murillo Campello

Aggregate Risk and the Choice between Cash and Lines of Credit

w16080 V.V. Chari
Ali Shourideh
Ariel Zetlin-Jones

Adverse Selection, Reputation and Sudden Collapses in Secondary Loan Markets

w16079 Viral V. Acharya
Philipp Schnabl

Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007-09

w16060 Thomas Chaney
David Sraer
David Thesmar

The Collateral Channel: How Real Estate Shocks Affect Corporate Investment

w16023 Jules H. van Binsbergen
John Graham
Jie Yang

The Cost of Debt

w15999 Patrick Bolton
Martin Oehmke

Credit Default Swaps and the Empty Creditor Problem

w15992 Hernán Ortiz-Molina
Gordon M. Phillips

Asset Liquidity and the Cost of Capital

w15987 Alex Edmans
Xavier Gabaix

Risk and the CEO Market: Why Do Some Large Firms Hire Highly-Paid, Low-Talent CEOs?

w15974 Nicola Cetorelli
Linda S. Goldberg

Global Banks and International Shock Transmission: Evidence from the Crisis

w15952 Ulf Axelson
Tim Jenkinson
Per Strömberg
Michael S. Weisbach

Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts

w15951 Heitor Almeida
Murillo Campello
Antonio F. Galvao Jr.

Measurement Errors in Investment Equations

w15948 Robin Greenwood
Samuel Hanson

Characteristic Timing

w15937 Andrew Ang
Nicolas P.B. Bollen

Locked Up by a Lockup: Valuing Liquidity as a Real Option

w15924 Luigi Pistaferri
Luigi Guiso
Fabiano Schivardi

Credit within the firm

w15917 Rüdiger Fahlenbrach
Angie Low
René M. Stulz

The dark side of outside directors: Do they quit when they are most needed?

w15912 Lucian A. Bebchuk
Alma Cohen
Charles C.Y. Wang

Learning and the Disappearing Association Between Governance and Returns

w15910 Sergey Chernenko
C. Fritz Foley
Robin Greenwood

Agency Costs, Mispricing, and Ownership Structure

w15906 John R. Graham
Campbell R. Harvey
Manju Puri

A Corporate Beauty Contest

w15884 Randall Morck
Fan Yang

The Shanxi Banks

w15817 Marcus Miller
Joseph E. Stiglitz

Leverage and Asset Bubbles: Averting Armageddon with Chapter 11?

w15848 Kay Giesecke
Francis A. Longstaff
Stephen Schaefer
Ilya Strebulaev

Corporate Bond Default Risk: A 150-Year Perspective

w15839 Lauren Cohen
Joshua D. Coval
Christopher Malloy

Do Powerful Politicians Cause Corporate Downsizing?

w15837 Viral V. Acharya
S. Viswanathan

Leverage, Moral Hazard and Liquidity

w15806 Gara Afonso
Anna Kovner
Antoinette Schoar

Stressed not Frozen: The Fed Funds Market in the Financial Crisis

w15792 Yuriy Gorodnichenko
Monika Schnitzer

Financial constraints and innovation: Why poor countries don't catch up

w15763 Linda S. Goldberg
Craig Kennedy
Jason Miu

Central Bank Dollar Swap Lines and Overseas Dollar Funding Costs

w15735 Efraim Benmelech
Nittai K. Bergman

Vintage Capital and Creditor Protection

w15718 Joseph E. Stiglitz
Risk and Global Economic Architecture: Why Full Financial Integration May Be Undesirable

w15710 Kris James Mitchener
David C. Wheelock

Does the Structure of Banking Markets Affect Economic Growth? Evidence from U.S. State Banking Markets

w15708 Efraim Benmelech
Nittai K. Bergman

Bankruptcy and the Collateral Channel

w15674 Viral V. Acharya
Douglas Gale
Tanju Yorulmazer

Rollover Risk and Market Freezes

w15659 Ulrike Malmendier
Geoffrey Tate
Jonathan Yan

Overconfidence and Early-life Experiences: The Impact of Managerial Traits on Corporate Financial Policies

w15653 Zhiguo He
Wei Xiong

Rollover Risk and Credit Risk

w15636 Ricardo J. Caballero
The "Other" Imbalance and the Financial Crisis

w15632 Shai Bernstein
Josh Lerner
Morten Sørensen
Per Strömberg

Private Equity and Industry Performance

w15631 Charles Yuji Horioka
Shizuka Sekita

The Degree of Judicial Enforcement and Credit Markets: Evidence from Japanese Household Panel Data


2009
w15575 Randall Morck
M. Deniz Yavuz
Bernard Yeung

Banking System Control, Capital Allocation, and Economy Performance

w15569 Viral V. Acharya
Yakov Amihud
Lubomir Litov

Creditor rights and corporate risk-taking

w15568 Viral V. Acharya
Stewart C. Myers
Raghuram Rajan

The Internal Governance of Firms

w15567 Viral V. Acharya
Hyun Song Shin
Tanju Yorulmazer

Crisis Resolution and Bank Liquidity

w15552 Murillo Campello
John Graham
Campbell R. Harvey

The Real Effects of Financial Constraints: Evidence from a Financial Crisis

w15551 Malcolm Baker
Xin Pan
Jeffrey Wurgler

A Reference Point Theory of Mergers and Acquisitions

w15545 Alex Edmans
Xavier Gabaix

Tractability in Incentive Contracting

w15537 Lucian A. Bebchuk
Michael S. Weisbach

The State of Corporate Governance Research

w15515 Christian Laux
Christian Leuz

Did Fair-Value Accounting Contribute to the Financial Crisis?

w15454 Katheryn N. Russ
Diego Valderrama

A Theory of Banks, Bonds, and the Distribution of Firm Size

w15426 Gian Luca Clementi
Thomas F. Cooley

Executive Compensation: Facts

w15356 Stelios Michalopoulos
Luc Laeven
Ross Levine

Financial Innovation and Endogenous Growth

w15327 Clemens Sialm
Laura Starks

Mutual Fund Tax Clienteles

w15325 Bronwyn H. Hall
Josh Lerner

The Financing of R&D and Innovation

w15324 Alex Edmans
Xavier Gabaix
Tomasz Sadzik
Yuliy Sannikov

Dynamic Incentive Accounts

w15283 Atif R. Mian
Amir Sufi

House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis

w15273 Gary B. Gorton
Andrew Metrick

Haircuts

w15248 Michael Faulkender
Mitchell Petersen

Investment and Capital Constraints: Repatriations Under the American Jobs Creation Act

w15212 Rüdiger Fahlenbrach
René M. Stulz

Bank CEO Incentives and the Credit Crisis

w15207 Hui Tong
Shang-Jin Wei

The Composition Matters: Capital Inflows and Liquidity Crunch during a Global Economic Crisis

w15197 Douglas W. Diamond
Raghuram G. Rajan

Illiquidity and Interest Rate Policy

w15185 James R. Hines
Jr.

Income Misattribution under Formula Apportionment

w15184 Stefano DellaVigna
Joshua M. Pollet

Capital Budgeting vs. Market Timing: An Evaluation Using Demographics

w15180 Andrea Beltratti
René M. Stulz

Why Did Some Banks Perform Better During the Credit Crisis? A Cross-Country Study of the Impact of Governance and Regulation

w15177 John R. Graham
Hyunseob Kim

The Effects of the Length of the Tax-Loss Carryback Period on Tax Receipts and Corporate Marginal Tax Rates

w15175 Bo Becker
Zoran Ivković
Scott Weisbenner

Local Dividend Clienteles

w15145 Luigi Guiso
Paola Sapienza
Luigi Zingales

Moral and Social Constraints to Strategic Default on Mortgages

w15143 Cindy R. Alexander
Mark A. Chen
Duane J. Seppi
Chester S. Spatt

The Role of Advisory Services in Proxy Voting

w15139 Bruce Ian Carlin
Simon Gervais
Gustavo Manso

When Does Libertarian Paternalism Work?

w15132 Isil Erel
Rose C. Liao
Michael S. Weisbach

World Markets for Mergers and Acquisitions

w15058 Stavros Panageas
Bailouts, the Incentive to Manage Risk, and Financial Crises

w15051 Randall Morck
Generalized Agency Problems

w15045 Efraim Benmelech
Jennifer Dlugosz

The Credit Rating Crisis

w15044 Francois Gourio
Jianjun Miao

Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform

w15042 Randall Morck
Bernard Yeung

Never Waste a Good Crisis: An Historical Perspective on Comparative Corporate Governance

w15023 Dhammika Dharmapala
C. Fritz Foley
Kristin J. Forbes

Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act

w14990 Heitor Almeida
Murillo Campello
Bruno Laranjeira
Scott Weisbenner

Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis

w14983 Heitor Almeida
Sang Yong Park
Marti Subrahmanyam
Daniel Wolfenzon

The Structure and Formation of Business Groups: Evidence from Korean Chaebols

w14952 Isil Erel
Brandon Julio
Woojin Kim
Michael Weisbach

Market Conditions and the Structure of Securities

w14944 Gary B. Gorton
Lixin Huang
Qiang Kang

The Limitations of Stock Market Efficiency: Price Informativeness and CEO Turnover

w14943 Andrei Shleifer
Robert W. Vishny

Unstable Banking

w14932 Joseph Golec
John Vernon

What's the "Interest" in FDA Drug Advisory Committee Conflicts of Interest?

w14931 Söhnke M. Bartram
Gregory Brown
René M. Stulz

Why Do Foreign Firms Have Less Idiosyncratic Risk than U.S. Firms?

w14929 Thomas Philippon
Philipp Schnabl

Efficient Recapitalization

w14897 Christian Leuz
Catherine Schrand

Disclosure and the Cost of Capital: Evidence from Firms’ Responses to the Enron Shock

w14892 Eric Hilt
Wall Street's First Corporate Governance Crisis: The Panic of 1826

w14890 Darren J. Kisgen
Philip E. Strahan

Do Regulations Based on Credit Ratings Affect a Firm's Cost of Capital?

w14889 Zhi Da
Re-Jin Guo
Ravi Jagannathan

CAPM for Estimating the Cost of Equity Capital: Interpreting the Empirical Evidence

w14881 Richard A. Lambert
Christian Leuz
Robert E. Verrecchia

Information Asymmetry, Information Precision, and the Cost of Capital

w14877 Xavier Giroud
Holger M. Mueller

Does Corporate Governance Matter in Competitive Industries?

w14858 Randall Morck
The Riddle of the Great Pyramids

w14848 Hui Chen
Jianjun Miao
Neng Wang

Entrepreneurial Finance and Non-diversifiable Risk

w14845 Patrick Bolton
Hui Chen
Neng Wang

A Unified Theory of Tobin's q, Corporate Investment, Financing, and Risk Management

w14786 Anusha Chari
Wenjie Chen
Kathryn M.E. Dominguez

Foreign Ownership and Firm Performance: Emerging-Market Acquisitions in the United States

w14769 Philippe Aghion
John Van Reenen
Luigi Zingales

Innovation and Institutional Ownership

w14727 Markus K. Brunnermeier
Motohiro Yogo

A Note on Liquidity Risk Management

w14724 Leonce L. Bargeron
Frederik P. Schlingemann
René M. Stulz
Chad J. Zutter

Do Target CEOs Sell Out Their Shareholders to Keep Their Job in a Merger?

w14661 Hanno Lustig
Chad Syverson
Stijn Van Nieuwerburgh

Technological Change and the Growing Inequality in Managerial Compensation

w15611 Stefano Battiston
Domenico Delli Gatti
Mauro Gallegati
Bruce C. Greenwald
Joseph E. Stiglitz

Liaisons Dangereuses: Increasing Connectivity, Risk Sharing, and Systemic Risk

w14650 Joseph P.H. Fan
Jun Huang
Randall Morck
Bernard Yeung

Vertical Integration, Institutional Determinants and Impact: Evidence from China


2008
w14625 Patrick Bajari
Chenghuan Sean Chu
Minjung Park

An Empirical Model of Subprime Mortgage Default From 2000 to 2007

w14623 Josh Lerner
Morten Sørensen
Per Strömberg

Private Equity and Long-Run Investment: The Case of Innovation

w14616 J. Christina Wang
Susanto Basu
John G. Fernald

A General-Equilibrium Asset-Pricing Approach to the Measurement of Nominal and Real Bank Output

w14615 Susanto Basu
Robert Inklaar
J. Christina Wang

The Value of Risk: Measuring the Service Output of U.S. Commercial Banks

w14614 J. Christina Wang
Susanto Basu

Risk Bearing, Implicit Financial Services and Specialization in the Financial Industry

w14548 Charles R. Hulten
Xiaohui Hao

What is a Company Really Worth? Intangible Capital and the "Market to Book Value" Puzzle

w14581 Robert E. Hall
Equity Depletion from Government-Guaranteed Debt

w14557 C. Fritz Foley
Robin Greenwood

The Evolution of Corporate Ownership After IPO: The Impact of Investor Protection

w14531 Kalina Manova
Credit Constraints, Heterogeneous Firms, and International Trade

w14525 Thomas J. Brennan
Andrew W. Lo

Impossible Frontiers

w14494 Alan J. Auerbach
Michael P. Devereux
Helen Simpson

Taxing Corporate Income

w14488 Joshua D. Rauh
Amir Sufi

Capital Structure and Debt Structure

w14486 Renée Adams
Benjamin E. Hermalin
Michael S. Weisbach

The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey

w14480 Harold L. Cole
Self-Enforcing Stochastic Monitoring and the Separation of Debt and Equity Claims

w14465 Amir E. Khandani
Andrew W. Lo

What Happened To The Quants In August 2007?: Evidence from Factors and Transactions Data

w14427 Alexander W. Blocker
Laurence J. Kotlikoff
Stephen A. Ross

The True Cost of Social Security

w14401 Takeo Hoshi
Anil K Kashyap

Will the U.S. Bank Recapitalization Succeed? Eight Lessons from Japan

w14331 Phillip Leslie
Paul Oyer

Managerial Incentives and Value Creation: Evidence from Private Equity

w14291 Vojislav Maksimovic
Gordon Phillips
N. R. Prabhala

Post-Merger Restructuring and the Boundaries of the Firm

w14290 Gerard Hoberg
Gordon M. Phillips

Real and Financial Industry Booms and Busts

w14289 Gerard Hoberg
Gordon M. Phillips

Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis

w14250 Manju Puri
Rebecca Zarutskie

On the Lifecycle Dynamics of Venture-Capital- and Non-Venture-Capital-Financed Firms

w14245 Craig Doidge
G. Andrew Karolyi
René M. Stulz

Why Do Foreign Firms Leave U.S. Equity Markets?

w14232 Lauren Cohen
Andrea Frazzini
Christopher Malloy

Hiring Cheerleaders: Board Appointments of "Independent" Directors

w14219 Robert E. Hall
Susan E. Woodward

The Burden of the Nondiversifiable Risk of Entrepreneurship

w14218 René M. Stulz
Securities Laws, Disclosure, and National Capital Markets in the Age of Financial Globalization

w14207 Steven N. Kaplan
Per Strömberg

Leveraged Buyouts and Private Equity

w14205 Hui Tong
Shang-Jin Wei

Real Effects of the Subprime Mortgage Crisis: Is it a Demand or a Finance Shock?

w14195 Steven N. Kaplan
Mark M. Klebanov
Morten Sorensen

Which CEO Characteristics and Abilities Matter?

w14189 Toby Stuart
Soojin Yim

Board Interlocks and the Propensity to be Targeted in Private Equity Transactions

w14187 Shourun Guo
Edie S. Hotchkiss
Weihong Song

Do Buyouts (Still) Create Value?

w14183 Yeon-Koo Che
Kathryn E. Spier

Strategic Judgment Proofing

w14179 Michelle J. White
Ning Zhu

Saving Your Home in Chapter 13 Bankruptcy

w14148 Alexander Peter Groh
Oliver Gottschalg

The Opportunity Cost of Capital of US Buyouts

w14145 Carola Frydman
Raven E. Saks

Executive Compensation: A New View from a Long-Term Perspective, 1936-2005

w14140 Ulrike Malmendier
Geoffrey Tate

Superstar CEOs

w14113 Luc Laeven
Ross Levine

Bank Governance, Regulation, and Risk Taking

w14101 Nicola Cetorelli
Linda S. Goldberg

Banking Globalization, Monetary Transmission, and the Lending Channel

w14087 Robin Greenwood
Samuel Hanson
Jeremy C. Stein

A Gap-Filling Theory of Corporate Debt Maturity Choice

w14085 Sharon Katz
Earnings Quality and Ownership Structure: The Role of Private Equity Sponsors

w14078 Olivia S. Mitchell
John Piggott
Cagri Kumru

Managing Public Investment Funds: Best Practices and New Challenges

w14059 Efraim Benmelech
Nittai K. Bergman

Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines

w14027 Kathy Fogel
Randall Morck
Bernard Yeung

Big Business Stability and Social Welfare

w13984 Jiandong Ju
Shang-Jin Wei

When Is Quality of Financial System a Source of Comparative Advantage?

w13914 Susan Perkins
Randall Morck
Bernard Yeung

Innocents Abroad: The Hazards of International Joint Ventures with Pyramidal Group Firms

w13874 Efraim Benmelech
Nittai K. Bergman

Collateral Pricing

w13858 Anton Korinek
Joseph E. Stiglitz

Dividend Taxation and Intertemporal Tax Arbitrage

w13802 Evan Gatev
Philip Strahan

Liquidity Risk and Syndicate Structure

w13794 Cristina Arellano
Narayana R. Kocherlakota

Internal Debt Crises and Sovereign Defaults

w13786 Joseph Chen
Samuel Hanson
Harrison Hong
Jeremy C. Stein

Do Hedge Funds Profit From Mutual-Fund Distress?

w13774 Charles Calomiris
Raymond Fisman
Yongxiang Wang

Profiting from Government Stakes in a Command Economy: Evidence from Chinese Asset Sales

w13762 Malcolm Baker
Robin Greenwood
Jeffrey Wurgler

Catering Through Nominal Share Prices

w13756 Simeon Djankov
Tim Ganser
Caralee McLiesh
Rita Ramalho
Andrei Shleifer

The Effect of Corporate Taxes on Investment and Entrepreneurship

w13738 Marianne Bertrand
Simon Johnson
Krislert Samphantharak
Antoinette Schoar

Mixing Family With Business: A Study of Thai Business Groups and the Families Behind Them

w13732 Efraim Benmelech
Eugene Kandel
Pietro Veronesi

Stock-Based Compensation and CEO (Dis)Incentives

w13726 Julia Coronado
Olivia S. Mitchell
Steven A. Sharpe
S. Blake Nesbitt

Footnotes Aren't Enough: The Impact of Pension Accounting on Stock Values

w13721 Woochan Kim
Taeyoon Sung
Shang-Jin Wei

How Does Corporate Governance Risk at Home Affect Investment Choices Abroad?


2007
w13711 Itzhak Ben-David
John R. Graham
Campbell R. Harvey

Managerial Overconfidence and Corporate Policies

w13709 John R. Graham
Lillian F. Mills

Using Tax Return Data to Simulate Corporate Marginal Tax Rates

w13708 John R. Graham
Si Li
Jiaping Qiu

Corporate Misreporting and Bank Loan Contracting

w13706 Brandon Julio
Woojin Kim
Michael Weisbach

What Determines the Structure of Corporate Debt Issues?

w13702 Lucian A. Bebchuk
Zvika Neeman

Investor Protection and Interest Group Politics

w13701 Lucian A. Bebchuk
Martijn Cremers
Urs Peyer

CEO Centrality

w13660 Andres Almazan
Adolfo de Motta
Sheridan Titman
Vahap Uysal

Financial Structure, Liquidity, and Firm Locations

w13641 Vladimir Atanasov
Vladimir Ivanov
Kate Litvak

The Impact of Litigation on Venture Capitalist Reputation

w13640 Murillo Campello
John Graham

Do Stock Prices Influence Corporate Decisions? Evidence from the Technology Bubble

w13604 Joseph H. Golec
John A. Vernon

Financial Risk in the Biotechnology Industry

w13601 Jennifer L. Blouin
Jana Smith Raedy
Douglas A. Shackelford

Did Firms Substitute Dividends for Share Repurchases after the 2003 Reductions in Shareholder Tax Rates?

w13584 Thomas Philippon
Yuliy Sannikov

Real Options in a Dynamic Agency Model, with Applications to Financial Development, IPOs, and Business Risk

w13570 Ulrike Malmendier
Geoffrey Tate
Jonathan Yan

Corporate Financial Policies With Overconfident Managers

w13538 Raj Chetty
Emmanuel Saez

An Agency Theory of Dividend Taxation

w13525 Jin Ginger Wu
Lu Zhang
X. Frank Zhang

Understanding the Accrual Anomaly

w13475 George-Marios Angeletos
Guido Lorenzoni
Alessandro Pavan

Wall Street and Silicon Valley: A Delicate Interaction

w13435 Joseph P.H. Fan
Randall Morck
Lixin Colin Xu
Bernard Yeung

Institutions and Foreign Investment: China versus the World

w13427 Siddhartha G. Dastidar
Raymond Fisman
Tarun Khanna

Testing Limits to Policy Reversal: Evidence from Indian Privatizations

w13426 Bronwyn H. Hall
Grid Thoma
Salvatore Torrisi

The market value of patents and R&D: Evidence from European firms

w13405 Thomas Philippon
Why Has the U.S. Financial Sector Grown so Much? The Role of Corporate Finance.

w13399 Kaoru Hosono
Koji Sakai
Kotaro Tsuru

Consolidation of Banks in Japan: Causes and Consequences

w13387 Paola Sapienza
Anna Toldra
Luigi Zingales

Understanding Trust

w13372 Alex Edmans
Xavier Gabaix
Augustin Landier

A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

w13315 Simon Gilchrist
Jae W. Sim

Investment during the Korean Financial Crisis: A Structural Econometric Analysis

w13288 Reena Aggarwal
Isil Erel
René Stulz
Rohan Williamson

Differences in Governance Practices between U.S. and Foreign Firms: Measurement, Causes, and Consequences

w13285 Harry DeAngelo
Linda DeAngelo
René M. Stulz

Fundamentals, Market Timing, and Seasoned Equity Offerings

w13283 Mihir A. Desai
Li Jin

Institutional Tax Clienteles and Payout Policy

w13282 Long Chen
Lu Zhang

Neoclassical Factors

w13274 Jarrad Harford
Dirk Jenter
Kai Li

Conflicts of Interests Among Shareholders: The Case of Corporate Acquisitions

w13270 Steven N. Kaplan
Joshua Rauh

Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?

w13268 Jeremy I. Bulow
Paul D. Klemperer

When are Auctions Best?

w13265 Michelle J. White
Bankruptcy Reform and Credit Cards

w13251 Rui Albuquerque
Neng Wang

Agency Conflicts, Investment, and Asset Pricing

w13250 Jianjun Miao
Neng Wang

Investment, Consumption, and Hedging under Incomplete Markets

w13240 Joshua Rauh
Risk Shifting versus Risk Management: Investment Policy in Corporate Pension Plans

w13202 Rüdiger Fahlenbrach
René M. Stulz

Managerial Ownership Dynamics and Firm Value

w13171 Randall Morck
Masao Nakamura

Business Groups and the Big Push: Meiji Japan's Mass Privatization and Subsequent Growth

w13132 Mihir A. Desai
Dhammika Dharmapala

Taxes, Institutions and Foreign Diversification Opportunities

w13093 Eric Hilt
When did Ownership Separate from Control? Corporate Governance in the Early Nineteenth Century

w13092 Guido Lorenzoni
Karl Walentin

Financial Frictions, Investment and Tobin's q

w13079 Craig Doidge
G. Andrew Karolyi
Rene M. Stulz

Has New York Become Less Competitive in Global Markets? Evaluating Foreign Listing Choices Over Time

w13061 Leonce Bargeron
Frederik Schlingemann
Rene M. Stulz
Chad Zutter

Why Do Private Acquirers Pay So Little Compared to Public Acquirers?

w13056 Robert E. Hall
Susan E. Woodward

The Incentives to Start New Companies: Evidence from Venture Capital

w13014 Jonathan B. Berk
Richard Stanton
Josef Zechner

Human Capital, Bankruptcy and Capital Structure

w13011 Hyunbae Chun
Jung-Wook Kim
Randall Morck
Bernard Yeung

Creative Destruction and Firm-Specific Performance Heterogeneity

w13005 Hirofumi Uchida
Gregory F.Udell
Wako Watanabe

Bank Size and Lending Relationships in Japan

w12990 Kristian R. Miltersen
Eduardo S. Schwartz

Real Options With Uncertain Maturity and Competition

w12952 Yael V. Hochberg
Paola Sapienza
Annette Vissing-Jorgensen

A Lobbying Approach to Evaluating the Sarbanes-Oxley Act of 2002

w12918 Charles W. Calomiris
Doron Nissim

Activity-Based Valuation of Bank Holding Companies

w12882 Alexander Dyck
Adair Morse
Luigi Zingales

Who Blows the Whistle on Corporate Fraud?

w12875 Benjamin E. Hermalin
Michael S. Weisbach

Transparency and Corporate Governance

w12855 Pol Antràs
Mihir A. Desai
C. Fritz Foley

Multinational Firms, FDI Flows and Imperfect Capital Markets

w12851 Efraim Benmelech
Tobias J. Moskowitz

The Political Economy of Financial Regulation: Evidence from U.S. State Usury Laws in the 19th Century

w12847 Borja Larrain
Motohiro Yogo

Does Firm Value Move Too Much to be Justified by Subsequent Changes in Cash Flow?

w12833 Francesco Caselli
Nicola Gennaioli

Economics and Politics of Alternative Institutional Reforms

w12826 Ulf Axelson
Per Stromberg
Michael S. Weisbach

Why are Buyouts Levered: The Financial Structure of Private Equity Funds

w12819 Reena Aggarwal
Isil Erel
Rene M. Stulz
Rohan Williamson

Do U.S. Firms Have the Best Corporate Governance? A Cross-Country Examination of the Relation between Corporate Governance and Shareholder Wealth


2006
w12811 Lucian A. Bebchuk
Yaniv Grinstein
Urs Peyer

Lucky Directors

w12807 Simeon Djankov
Oliver Hart
Caralee McLiesh
Andrei Shleifer

Debt Enforcement Around the World

w12798 Michael S. Weisbach
Optimal Executive Compensation vs. Managerial Power: A Review of Lucian Bebchuk and Jesse Fried's "Pay without Performance: The Unfulfilled Promise of Executive Compensation"

w12792 Lubos Pastor
Lucian Taylor
Pietro Veronesi

Entrepreneurial Learning, the IPO Decision, and the Post-IPO Drop in Firm Profitability

w12773 Heitor Almeida
Murillo Campello
Michael S. Weisbach

Corporate Financial and Investment Policies when Future Financing is not Frictionless

w12771 Lucian A. Bebchuk
Yaniv Grinstein
Urs Peyer

Lucky CEOs

w12765 Enrichetta Ravina
Paola Sapienza

What Do Independent Directors Know? Evidence from Their Trading

w12739 Holger M. Mueller
Thomas Philippon

Family Firms, Paternalism, and Labor Relations

w12724 Dirk Jenter
Katharina Lewellen
Jerold B. Warner

Security Issue Timing: What Do Managers Know, and When Do They Know It?

w12705 Edward J. Kane
Basel II: A Contracting Perspective

w12675 Luc Laeven
Ross Levine

Complex Ownership Structures and Corporate Valuations

w12649 C. Fritz Foley
Jay C. Hartzell
Sheridan Titman
Garry Twite

Why do firms hold so much cash? A tax-based explanation

w12644 Charles Calomiris
Devaluation with Contract Redenomination in Argentina

w12626 Jerry Cao
Josh Lerner

The Performance of Reverse Leveraged Buyouts

w12612 Atif Mian
Asim Ijaz Khwaja

Tracing the Impact of Bank Liquidity Shocks: Evidence from an Emerging Market

w12555 Dmitry Livdan
Horacio Sapriza
Lu Zhang

Financially Constrained Stock Returns

w12534 Thomas W. Bates
Kathleen M. Kahle
Rene M. Stulz

Why Do U.S. Firms Hold So Much More Cash Than They Used To?

w12525 Alexander Dyck
Natalya Volchkova
Luigi Zingales

The Corporate Governance Role of the Media: Evidence from Russia

w12500 John Ammer
Sara B. Holland
David C. Smith
Francis E. Warnock

Look at Me Now: What Attracts U.S. Shareholders?

w12465 Steven N. Kaplan
Bernadette Minton

How has CEO Turnover Changed? Increasingly Performance Sensitive Boards and Increasingly Uneasy CEOs

w12463 Alan J. Auerbach
Why Have Corporate Tax Revenues Declined? Another Look

w12462 Thomas Philippon
The Bond Market's q

w12438 Leemore Dafny
David Dranove

Regulatory Exploitation and the Market for Corporate Controls

w12389 Bong-Chan Kho
René M. Stulz
Francis E. Warnock

Financial Globalization, Governance, and the Evolution of the Home Bias

w12365 Xavier Gabaix
Augustin Landier

Why Has CEO Pay Increased So Much?

w12359 Yingjin Hila Gan
Christopher Mayer

Agency Conflicts, Asset Substitution, and Securitization

w12356 Morten Bennedsen
Kasper M. Nielsen
Francisco Pérez-González
Daniel Wolfenzon

Inside the Family Firm: The Role of Families in Succession Decisions and Performance

w12308 Urban Jermann
Vincenzo Quadrini

Financial Innovations and Macroeconomic Volatility

w12297 Vojislav Maksimovic
Gordon Phillips

The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?

w12295 Michelle Lowry
Micah S. Officer
G. William Schwert

The Variability of IPO Initial Returns

w12292 Roger Gordon
Martin Dietz

Dividends and Taxes

w12288 Malcolm Baker
Stefan Nagel
Jeffrey Wurgler

The Effect of Dividends on Consumption

w12276 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Capital Structure with Risky Foreign Investment

w12222 Christian Leuz
Karl V. Lins
Francis E. Warnock

Do Foreigners Invest Less in Poorly Governed Firms?

w12220 Fang Cai
Francis E. Warnock

International Diversification at Home and Abroad

w12203 Andrew Ang
Li Gu
Yael V. Hochberg

Is IPO Underperformance a Peso Problem?

w12151 Ravi Jagannathan
Ann E. Sherman

Why Do IPO Auctions Fail?

w12129 Ricardo J. Caballero
Takeo Hoshi
Anil K. Kashyap

Zombie Lending and Depressed Restructuring in Japan

w12127 Galina Hale
Assaf Razin
Hui Tong

Institutional Weakness and Stock Price Volatility

w12107 Patrick Bolton
Jose Scheinkman
Wei Xiong

Pay for Short-Term Performance: Executive Compensation in Speculative Markets

w12087 Heitor Almeida
Murillo Campello

Financial Constraints, Asset Tangibility, and Corporate Investment

w12068 Dirk Jenter
Fadi Kanaan

CEO Turnover and Relative Performance Evaluation

w12050 Benjamin E. Hermalin
Michael S. Weisbach

A Framework for Assessing Corporate Governance Reform

w12042 Steven R. Grenadier
Neng Wang

Investment Under Uncertainty and Time-Inconsistent Preferences

w11989 Justin Wolfers
Diagnosing Discrimination: Stock Returns and CEO Gender

w11962 Darrell Duffie
Leandro Siata
Ke Wang

Multi-Period Corporate Default Prediction With Stochastic Covariates

w11961 Sanjiv Das
Darrell Duffie
Nikunj Kapadia
Leandro Saita

Common Failings: How Corporate Defaults are Correlated

w11950 Kevin F. Hallock
Craig Olson

The Value of Stock Options to Non-Executive Employees

w11914 A. Burak Güner
Ulrike Malmendier
Geoffrey Tate

Financial Expertise of Directors

w11912 Rene M. Stulz
Financial Globalization, Corporate Governance, and Eastern Europe


2005
w11907 Lucian A. Bebchuk
Robert J. Jackson
Jr.

Executive Pensions

w11886 Lucian Bebchuk
Yaniv Grinstein

Firm Expansion and CEO Pay

w11883 Simeon Djankov
Rafael LaPorta
Florencio Lopez-de-Silanes
Andrei Shleifer

The Law and Economics of Self-Dealing

w11882 Owen A. Lamont
Jeremy C. Stein

Investor Sentiment and Corporate Finance: Micro and Macro

w11797 Woojin Kim
Michael S. Weisbach

Motivations for Public Equity Offers: An International Perspective

w11757 Itay Goldstein
Assaf Razin

An Information-Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment

w11728 Raghuram G. Rajan
Has Financial Development Made the World Riskier?

w11685 Heitor Almeida
Thomas Philippon

The Risk-Adjusted Cost of Financial Distress

w11683 Stefano DellaVigna
Joshua Pollet

Investor Inattention, Firm Reaction, and Friday Earnings Announcements

w11624 Zsuzsanna Fluck
Kedran Garrison
Stewart C. Myers

Venture Capital Contracting and Syndication: An Experiment in Computational Corporate Finance

w11581 Steven N. Kaplan
Berk A. Sensoy
Per Strömberg

What Are Firms? Evolution from Birth to Public Companies

w11573 Simi Kedia
Thomas Philippon

The Economics of Fraudulent Accounting

w11536 Michelle J. White
Economic Analysis of Corporate and Personal Bankruptcy Law

w11526 Andrea Frazzini
Owen A. Lamont

Dumb Money: Mutual Fund Flows and the Cross-Section of Stock Returns

w11505 Jean Helwege
Christo Pirinsky
René M. Stulz

Why Do Firms Become Widely Held? An Analysis of the ynamics of Corporate Ownership

w11499 Luc Laeven
Ross Levine

Is There a Diversification Discount in Financial Conglomerates?

w11498 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Bank Supervision and Corruption in Lending

w11478 Michael Greenstone
Paul Oyer
Annette Vissing-Jorgensen

Mandated Disclosure, Stock Returns, and the 1964 Securities Acts Amendments

w11469 Mihir A. Desai
Dhammika Dharmapala
Winnie Fung

Taxation and the Evolution of Aggregate Corporate Ownership Concentration

w11459 Evgeny Lyandres
Le Sun
Lu Zhang

Investment-Based Underperformance Following Seasoned Equity Offerings

w11450 Andrew A. Toole
Dirk Czarnitzki

Biomedical Academic Entrepreneurship Through the SBIR Program

w11443 Lucian Bebchuk
Yaniv Grinstein

The Growth of Executive Pay

w11424 Daron Acemoglu
Simon Johnson
Todd Mitton

Determinants of Vertical Integration: Finance, Contracts, and Regulation

w11409 Nittai K. Bergman
Dirk Jenter

Employee Sentiment and Stock Option Compensation

w11391 Viral V. Acharya
Heitor Almeida
Murillo Campello

Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies

w11368 Heitor Almeida
Daniel Wolfenzon

A Theory of Pyramidal Ownership and Family Business Groups

w11364 Gary Gorton
Matthias Kahl
Richard Rosen

Eat or Be Eaten: A Theory of Mergers and Merger Waves

w11357 Joshua D. Coval
Erik Stafford

Asset Fire Sales (and Purchases) in Equity Markets

w11333 Charles W. Calomiris
Donna M. Hitscherich

Banker Fees and Acquisition Premia for Targets in Cash Tender Offers: Challenges to the Popular Wisdom on Banker Conflicts

w11294 Armando Gomes
Gordon Phillips

Why Do Public Firms Issue Private and Public Securities?

w11280 Mitchell A. Petersen
Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches

w11254 Olubunmi Faleye
Vikas Mehrotra
Randall Morck

When Labor Has a Voice in Corporate Governance

w11241 Mihir A. Desai
Dhammika Dharmapala

Corporate Tax Avoidance and Firm Value

w11229 Joseph Golec
Shantaram Hegde
John A. Vernon

Pharmaceutical Stock Price Reactions to Price Constraint Threats and Firm-Level R&D Spending

w11197 Woojin Kim
Michael Weisbach

Do Firms Go Public to Raise Capital?

w11190 Gary Gorton
Nicholas Souleles

Special Purpose Vehicles and Securitization

w11162 Craig Doidge
G. Andrew Karolyi
Karl V. Lins
Darius P. Miller
Rene M. Stulz

Private Benefits of Control, Ownership, and the Cross-Listing Decision

w11140 Mihir A. Desai
Robert J. Yetman

Constraining Managers without Owners: Governance of the Not-for-Profit Enterprise

w11126 Marianne Bertrand
Sendhil Mullainathan

Profitable Investments or Dissipated Cash? Evidence on the Investment-Cash Flow Relationship From Oil and Gas Lease Bidding

w11083 Andrew Atkeson
Harold Cole

A Dynamic Theory of Optimal Capital Structure and Executive Compensation

w11082 Bart Lambrecht
Stewart C. Myers

A Theory of Takeovers and Disinvestment

w11078 Simeon Djankov
Caralee McLiesh
Andrei Shleifer

Private Credit in 129 Countries

w11071 Patrick Bolton
Olivier Jeanne

Structuring and Restructuring Sovereign Debt: The Role of Seniority

w11070 Rene M. Stulz
The Limits of Financial Globalization

w11062 Randall K. Morck
Lloyd Steier

The Global History of Corporate Governance: An Introduction

w11050 Claudio Michelacci
Vincenzo Quadrini

Financial Markets and Wages


2004
w11011 David J. Brophy
Paige P. Ouimet
Clemens Sialm

PIPE Dreams? The Performance of Companies Issuing Equity Privately

w11006 Mark J. Garmaise
Tobias J. Moskowitz

Bank Mergers and Crime: The Real and Social Effects of Credit Market Competition

w11005 Luigi Guiso
Paola Sapienza
Luigi Zingales

Cultural Biases in Economic Exchange

w11004 Efraim Benmelech
Mark J. Garmaise
Tobias Moskowitz

Do Liquidation Values Affect Financial Contracts? Evidence from Commercial Loan Contracts and Zoning Regulation

w11002 Jeffrey R. Brown
Nellie Liang
Scott Weisbenner

Executive Financial Incentives and Payout Policy: Firm Responses to the 2003 Dividend Tax Cut

w10999 Philippe Aghion
Jeremy C. Stein

Growth vs. Margins: Destabilizing Consequences of Giving the Stock Market What it Wants

w10998 Malcolm Baker
Joshua Coval
Jeremy C. Stein

Corporate Financing Decisions When Investors Take the Path of Least Resistance

w10978 Mihir A. Desai
Alexander Dyck
Luigi Zingales

Theft and Taxes

w10944 Randall Morck
How to Eliminate Pyramidal Business Groups - The Double Taxation of Inter-Corporate Dividends and Other Incisive Uses of Tax Policy

w10933 Ilan Guedj
David Scharfstein

Organizational Scope and Investment: Evidence from the Drug Development Strategies and Performance of Biopharmaceutical Firms

w10908 Stephen G. Cecchetti
Stefan Krause

Deposit Insurance and External Finance

w10891 Peter M. DeMarzo
Ilan Kremer
Andrzej Skrzypacz

Bidding With Securities: Auctions and Security Design

w10872 Anusha Chari
Paige P. Ouimet
Linda L. Tesar

Acquiring Control in Emerging Markets: Evidence from the Stock Market

w10863 Malcolm Baker
Richard S. Ruback
Jeffrey Wurgler

Behavioral Corporate Finance: A Survey

w10841 Raj Chetty
Emmanuel Saez

Dividend Taxes and Corporate Behavior: Evidence from the 2003 Dividend Tax Cut

w10823 Malcolm P. Baker
Ryan Taliaferro
Jeffrey Wurgler

Pseudo Market Timing and Predictive Regressions

w10813 Ulrike Malmendier
Geoffrey Tate

Who Makes Acquisitions? CEO Overconfidence and the Market's Reaction

w10807 Ulrike Malmendier
Geoffrey Tate

CEO Overconfidence and Corporate Investment

w10773 Sara B. Moeller
Frederik P. Schlingemann
Rene M. Stulz

Do Acquirers With More Uncertain Growth Prospects Gain Less From Acquisitions?

w10771 Boyan Jovanovic
The Pre-Producers

w10743 Darrell Duffie
Ke Wang

Multi-Period Corporate Failure Prediction with Stochastic Covariates

w10742 Lucian Arye Bebchuk
Jesse M. Fried

Stealth Compensation Via Retirement Benefits

w10687 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Law and Firms' Access to Finance

w10671 Jennifer Dlugosz
Rudiger Fahlenbrach
Paul Gompers
Andrew Metrick

Large Blocks of Stock: Prevalence, Size, and Measurement

w10665 Patrick Bajari
John Krainer

An Empirical Model of Stock Analysts' Recommendations: Market Fundamentals, Conflicts of Interest, and Peer Effects

w10644 Randall Morck
Behavioral Finance in Corporate Governance - Independent Directors, Non-Executive Chairs, and the Importance of the Devil’s Advocate

w10641 Peter Hogfeldt
The History and Politics of Corporate Ownership in Sweden

w10635 Randall Morck
Michael Percy
Gloria Tian
Bernard Yeung

The Rise and Fall of the Widely Held Firm - A History of Corporate Ownership in Canada

w10628 Julian Franks
Colin Mayer
Stefano Rossi

Spending Less Time with the Family: The Decline of Family Ownership in the UK

w10615 Peter M. DeMarzo
Yuliy Sannikov

A Continuous-Time Agency Model of Optimal Contracting and Capital Structure

w10613 Tarun Khann
Krishna Palepu

The Evolution of Concentrated Ownership in India Broad patterns and a History of the Indian Software Industry

w10599 Harry DeAngelo
Linda DeAngelo
Rene Stulz

Dividend Policy, Agency Costs, and Earned Equity

w10587 Lucian Bebchuk
Alma Cohen

The Costs of Entrenched Boards

w10572 Raj Chetty
Emmanuel Saez

Do Dividend Payments Respond to Taxes? Preliminary Evidence from the 2003 Dividend Tax Cut

w10563 Christopher Polk
Paola Sapienza

The Real Effects of Investor Sentiment

w10559 Malcolm Baker
C. Fritz Foley
Jeffrey Wurgler

The Stock Market and Investment: Evidence from FDI Flows

w10550 John R. Graham
Campbell R. Harvey
Shiva Rajgopal

The Economic Implications of Corporate Financial Reporting

w10537 Simon Gilchrist
Charles P. Himmelberg
Gur Huberman

Do Stock Price Bubbles Influence Corporate Investment?

w10536 Patricia M. Danzon
Andrew Epstein
Sean Nicholson

Mergers and Acquisitions in the Pharmaceutical and Biotech Industries

w10526 Ayla Kayhan
Sheridan Titman

Firms' Histories and Their Capital Structures

w10494 Raghuram Rajan
Julie Wulf

Are Perks Purely Managerial Excess?

w10471 Mihir A. Desai
Dhammika Dharmapala

Corporate Tax Avoidance and High Powered Incentives

w10380 Leora Klapper
Luc Laeven
Raghuram Rajan

Business Environment and Firm Entry: Evidence from International Data

w10301 Jennifer L. Blouin
Jana Smith Raedy
Douglas A. Shackelford

Did Dividends Increase Immediately After the 2003 Reduction in Tax Rates?

w10298 Boyan Jovanovic
Peter L. Rousseau

Interest Rates and Initial Public Offerings

w10258 Kristian R. Miltersen
Eduardo S. Schwartz

R&D Investments with Competitive Interactions

w10240 Paul A. Gompers
Joy Ishii
Andrew Metrick

Incentives vs. Control: An Analysis of U.S. Dual-Class Companies

w10225 Brian J. Henderson
Narasimhan Jegadeesh
Michael S. Weisbach

World Markets for Raising New Capital

w10224 Evangelos Benos
Michael S. Weisbach

Private Benefits and Cross-Listings in the United States

w10200 Sara B. Moeller
Frederik P. Schlingemann
Rene M. Stulz

Wealth Destruction on a Massive Scale? A Study of Acquiring-Firm Returns in the Recent Merger Wave


2003
w10190 Lucian Arye Bebchuk
Why Firms Adopt Antitakeover Arrangements

w10188 Lee Pinkowitz
Rene M. Stulz
Rohan Williamson

Do Firms in Countries with Poor Protection of Investor Rights Hold More Cash?

w10184 Kenneth A. Froot
Risk Management, Capital Budgeting and Capital Structure Policy for Insurers and Reinsurers

w10165 Mihir Desai
Paul Gompers
Josh Lerner

Institutions, Capital Constraints and Entrepreneurial Firm Dynamics: Evidence from Europe

w10158 Gerard Caprio
Luc Laeven
Ross Levine

Governance and Bank Valuation

w10153 Mihir Desai
William M. Gentry

The Character and Determinants of Corporate Capital Gains

w10115 Gordon M. Bodnar
Bernard Dumas
Richard D. Marston

Cross-Border Valuation: The International Cost of Equity Capital

w10114 Eduardo S. Schwartz
Patents and R&D as Real Options

w10101 Andres Almazan
Javier Suarez
Sheridan Titman

Stakeholder, Transparency and Capital Structure

w10097 Steven N. Kaplan
Frederic Martel
Per Stromberg

How Do Legal Differences and Learning Affect Financial Contracts?

w10041 Jason C. Hsu
Eduardo S. Schwartz

A Model of R&D Valuation and the Design of Research Incentives

w9995 Malcolm Baker
Jeffrey Wurgler

Appearing and Disappearing Dividends: The Link to Catering Incentives

w9951 Sheridan Titman
K.C. John Wei
Feixue Xie

Capital Investments and Stock Returns

w9949 Eric Friedman
Simon Johnson
Todd Mitton

Propping and Tunneling

w9930 Michael Faulkender
Mitchell A. Petersen

Does the Source of Capital Affect Capital Structure?

w9813 Lucian Arye Bebchuk
Jesse M. Fried

Executive Compensation as an Agency Problem

w9763 Walter Novaes
Luigi Zingales

Bureaucracy as a Mechanism to Generate Information

w9758 James Dow
Gary Gorton
Arvind Krishnamurthy

Equilibrium Asset Prices Under Imperfect Corporate Control

w9722 Patrick Bolton
Jose Scheinkman
Wei Xiong

Executive Compensation and Short-termist Behavior in Speculative Markets

w9715 Mihir A. Desai
C. Fritz Foley
James R. Hines
Jr.

A Multinational Perspective on Capital Structure Choice and Internal Capital Markets

w9657 Alon Brav
John R. Graham
Campbell R. Harvey
Roni Michaely

Payout Policy in the 21st Century

w9651 Randall Morck
Why Some Double Taxation Might Make Sense: The Special Case of Inter-corporate Dividends

w9644 Patrick McGuire
Bank Ties and Bond Market Access: Evidence on Investment-Cash Flow Sensitivity in Japan

w9620 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Bank Supervision and Corporate Finance

w9613 Bengt Holmstrom
Steven N. Kaplan

The State of U.S. Corporate Governance: What's Right and What's Wrong?

w9575 Youngjae Lim
Sources of Corporate Financing and Economic Crisis in Korea: A Micro-evidence

w9574 Chen-Chien Hsun
Shih Hui-Tzu

Initial Public Offering and Corporate Governance in China's Transitional Economy

w9542 Malcolm Baker
Jeffrey Wurgler

A Catering Theory of Dividends

w9527 Bruce Blonigen
Rossitza B. Wooster

CEO Turnover and Foreign Market Participation

w9523 Sara B. Moeller
Frederik P. Schlingemann
Rene M. Stulz

Do shareholders of acquiring firms gain from acquisitions?

w9469 William N. Goetzmann
Matthew Spiegel
Andrey Ukhov

Modeling and Measuring Russian Corporate Governance: The Case of Russian Preferred and Common Shares

w9432 Gayane Hovakimian
Sheridan Titman

Corporate Investment with Financial Constraints: Sensitivity of Investment to Funds from Voluntary Asset Sales


2002
w9386 Yishay Yafeh
An International Perspective of Japan's Corporate Groups and their Prospects

w9385 Takero Doi
Takeo Hoshi

Paying for the FILP

w9380 Lucian Bebchuk
Alma Cohen
Allen Ferrell

Does the Evidence Favor State Competition in Corporate Law?

w9371 Patrick Bolton
Marco Becht
Alisa Röell

Corporate Governance and Control

w9327 Nengjiu Ju
Robert Parrino
Allen M. Poteshman
Michael S. Weisbach

Horses and Rabbits? Optimal Dynamic Capital Structure from Shareholder and Manager Perspectives

w9323 James R. Barth
Gerard Caprio
Jr.
Ross Levine

Bank Regulation and Supervision: What Works Best?

w9309 Alexander Dyck
Luigi Zingales

The Corporate Governance Role of the Media

w9253 Heitor Almeida
Murillo Campello
Michael S. Weisbach

Corporate Demand for Liquidity

w9250 Olivia S. Mitchell
Stephen P. Utkus

The Role of Company Stock in Defined Contribution Plans

w9214 Patric H. Hendershott
Charles W.R. Ward

Valuing and Pricing Retail Leases with Renewal and Overage Options

w9156 Oren Bar-Gill
Michal Barzuza
Lucian Bebchuk

The Market for Corporate Law

w9146 Josh Lerner
Antoinetter Schoar

The Illiquidity Puzzle: Theory and Evidence from Private Equity

w9126 Roberta Romano
Does Confidential Proxy Voting Matter?

w9107 Lucian Bebchuk
Alma Cohen

Firms' Decisions Where to Incorporate

w9078 Lucian Arye Bebchuk
The Case Against Board Veto in Corporate Takeovers

w9070 Reena Aggarwal
Nagpurnanand R. Prabhala
Manju Puri

Institutional Allocation In Initial Public Offerings: Empirical Evidence

w9068 Lucian Arye Bebchuk
Jesse M. Fried
David I. Walker

Managerial Power and Rent Extraction in the Design of Executive Compensation

w9059 Brian J. Hall
Thomas A. Knox

Managing Option Fragility

w9049 Owen A. Lamont
Evaluating Value Weighting: Corporate Events and Market Timing

w9032 Peter MacKay
Gordon M. Phillips

Is There an Optimal Industry Financial Structure?

w9009 Boyan Jovanovic
Serguey Braguinsky

Bidder Discounts and Target Premia in Takeovers

w9001 Denis Gromb
David Scharfstein

Entrepreneurship in Equilibrium

w8989 Henry Hansmann
Daniel Kessler
Mark McClellan

Ownership Form and Trapped Capital in the Hospital Industry

w8974 Lucian Arye Bebchuk
John C. Coates IV
Guhan Subramanian

The Powerful Antitakeover Force of Staggered Boards: Theory, Evidence and Policy

w8954 Michael R. Darby
Lynne G. Zucker

Going Public When You Can in Biotechnology

w8921 Edward L. Glaeser
The Governance of Not-For-Profit Firms

w8877 Mark J. Garmaise
Tobias J. Moskowitz

Confronting Information Asymmetries: Evidence from Real Estate Markets

w8874 Mark J. Garmaise
Tobias J. Moskowitz

Informal Financial Networks: Theory and Evidence

w8866 Mihir A. Desai
The Corporate Profit Base, Tax Sheltering Activity, and the Changing Nature of Employee Compensation

w8848 Rafael La Porta
Florencio Lopez-de-Silane
Guillermo Zamarripa

Related Lending

w8776 Mike Burkart
Fausto Panunzi
Andrei Shleifer

Family Firms

w8773 Bronwyn H. Hall
The Financing of Research and Development

w8764 Steven N. Kaplan
Per Stromberg

Characteristics, Contracts, and Actions: Evidence from Venture Capitalist Analyses

w8763 Robert Parrino
Allen M. Poteshman
Michael S. Weisbach

Measuring Investment Distortions when Risk-Averse Managers Decide Whether to Undertake Risky Projects

w8750 Malcolm Baker
Jeremy C. Stein
Jeffrey Wurgler

When Does the Market Matter? Stock Prices and the Investment of Equity-Dependent Firms

w8719 Ravi Jagannathan
Iwan Meier

Do We Need CAPM for Capital Budgeting?

w8711 Alexander Dyck
Luigi Zingales

Private Benefits of Control: An International Comparison

w8703 Lucian Arye Bebchuk
Assaf Hamdani

Optimal Defaults for Corporate Law Evolution

w8698 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Dividend Policy inside the Firm


2001
w8694 Randall S. Kroszner
Philip E. Strahan

Throwing Good Money After Bad? Board Connections and Conflicts in Bank Lending

w8678 John R. Graham
Campbell R. Harvey

Expectations of Equity Risk Premia, Volatility and Asymmetry from a Corporate Finance Perspective

w8661 Lucian Arye Bebchuk
Jesse M. Fried
David I. Walker

Executive Compensation in America: Optimal Contracting or Extraction of Rents?

w8652 Arturo Bris
Ivo Welch

The Optimal Concentration of Creditors

w8633 Lucian Bebchuk
Oliver Hart

Takeover bids vs. Proxy Fights in Contests for Corporate Control

w8586 Michelle Lowry
G. William Schwert

Biases in the IPO Pricing Process

w8538 Craig Doidge
G. Andrew Karolyi
Rene M. Stulz

Why are Foreign Firms Listed in the U.S. Worth More?

w8507 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Repatriation Taxes and Dividend Distortions

w8486 William M. Gentry
Deen Kemsley
Christopher J. Mayer

Dividend Taxes and Share Prices: Evidence from Real Estate Investment Trusts

w8452 Campbell R. Harvey
Karl V. Lins
Andrew H. Roper

The Effect of Capital Structure When Expected Agency Costs are Extreme

w8449 Paul A. Gompers
Joy L. Ishii
Andrew Metrick

Corporate Governance and Equity Prices

w8439 Andrei Shleifer
Robert W. Vishny

Stock Market Driven Acquisitions

w8438 Ann E. Harrison
Margaret S. McMillan

Does Direct Foreign Investment Affect Domestic Firms' Credit Constraints?

w8399 Edward J. Kane
Using Deferred Compensation to Strengthen the Ethicsof Financial Regulation

w8388 Lucian Arye Bebchuk
Ex Ante Costs of Violating Absolute Priority in Bankruptcy

w8367 Luis Garicano
Tano Santos

Referrals

w8286 Oliver Hart
Norms and the Theory of the Firm

w8285 Oliver Hart
Financial Contracting

w8276 Lucian Arye Bebchuk
Jesse M. Fried

A New Approach to Valuing Secured Claims in Bankruptcy

w8222 Rene M. Stulz
Rohan Williamson

Culture, Openness, and Finance

w8220 Bengt Holmstrom
Steven N. Kaplan

Corporate Governance and Merger Activity in the U.S.: Making Sense of the 1980s and 1990s

w8203 Alan J. Auerbach
Taxation and Corporate Financial Policy

w8202 Steven N. Kaplan
Per Stromberg

Venture Capitalists As Principals: Contracting, Screening, and Monitoring

w8201 Leslie Eldenburg
Benjamin E. Hermalin
Michael S. Weisbach
Marta Wosinska

Hospital Governance, Performance Objectives, and Organizational Form

w8178 Raghuram G. Rajan
Luigi Zingales

The Great Reversals: The Politics of Financial Development in the 20th Century

w8177 Raghuram G. Rajan
Luigi Zingales

The Influence of the Financial Revolution on the Nature of Firms

w8164 William A. Reese
Jr.
Michael S. Weisbach

Protection of Minority Shareholder Interests, Cross-listings in the United States, and Subsequent Equity Offerings

w8161 Benjamin E. Hermalin
Michael S. Weisbach

Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature

w8148 Lucian Arye Bebchuk
Allen Ferrell

A New Approach to Takeover Law and Regulatory Competition

w8093 Artyom Durnev
Randall Morck
Bernard Yeung

Does Firm-specific Information in Stock Prices Guide Capital Allocation?

w8089 Lucian Arye Bebchuk
David I. Walker

The Overlooked Corporate Finance Problems of a Microsoft Breakup


2000
w7974 Andrei Shleifer
Daniel Wolfenson

Investor Protection and Equity Markets

w7958 Raghuram G. Rajan
Luigi Zingales

The Governance of the New Enterprise

w7952 Marianne Bertrand
Paras Mehta
Sendhil Mullainathan

Ferreting Out Tunneling: An Application to Indian Business Groups

w7945 Gary Gorton
Frank Schmid

Class Struggle Inside the Firm: A Study of German Codetermination

w7935 Michelle Lowry
G. William Schwert

IPO Market Cycles: Bubbles or Sequential Learning?

w7921 Oliver Hart
Different Approaches to Bankruptcy

w7873 Frederik P. Schlingemann
Rene M. Stulz
Ralph A. Walkling

Asset Liquidity and Segment Divestitures

w7842 Nancy L. Rose
Catherine Wolfram

Regulating Executive Pay: Using the Tax Code to Influence CEO Compensation

w7821 Alan J. Auerbach
Kevin A. Hassett

On the Marginal Source of Investment Funds

w7808 Hyun-Han Shin
Rene M. Stulz

Firm Value, Risk, and Growth Opportunities

w7803 Owen Lamont
Christopher Polk

Does Diversification Destroy Value? Evidence From Industry Shocks

w7794 John DiNardo
Kevin F. Hallock

When Unions "Mattered": Assessing the Impact of Strikes on Financial Markets: 1925-1937

w5462 Steven M. Fazzari
R. Glenn Hubbard
Bruce C. Petersen

Financing Constraints and Corporate Investment: Response to Kaplan and Zingales

w7232 Lucian Arye Bebchuk
Allen Ferrell

Federalism and Takeover Law: The Race to Protect Managers from Takeovers

w7720 Ricardo J. Caballero
Mohamad L. Hammour

Institutions, Restructuring, and Macroeconomic Performance

w7706 Luigi Zingales
In Search of New Foundations

w7705 Jeremy C. Stein
Information Production and Capital Allocation: Decentralized vs. Hierarchical Firms

w7660 Steven N. Kaplan
Per Stromberg

Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts

w6919 Lucian Arye Bebchuk
Christine Jolls

Managerial Value Diversion and Shareholder Wealth

w7614 Lucian Arye Bebchuk
Using Options to Divide Value in Corporate Bankruptcy

w7604 Marianne Bertrand
Sendhil Mullainathan

Do CEOs Set Their Own Pay? The Ones Without Principals Do

w7596 Brian J. Hall
Jeffrey B. Liebman

The Taxation of Executive Compensation

w7587 Eitan Goldman
Gary Gorton

The Visible Hand, the Invisible Hand and Efficiency

w6521 Lucian Arye Bebchuk
Andrew T. Guzman

An Economic Analysis of Transnational Bankruptcies

w7523 Simon Johnson
Rafael La Porta
Florencio Lopez-de-Silanes
Andrei Shleifer

Tunnelling

w7209 Charles P. Himmelberg
R. Glenn Hubbard
Darius Palia

Understanding the Determinants of Managerial Ownership and the Link Between Ownership and Performance


1999
w7403 Rafael La Porta
Florencio Lopez-deSilanes
Andrei Shleifer
Robert W. Vishny

Investor Protection and Corporate Valuation

w7396 Owen Lamont
Christopher Polk

The Diversification Discount: Cash Flows vs. Returns

w7335 Rajesh K. Aggarwal
Andrew A. Samwick

Empire-Builders and Shirkers: Investment, Firm Performance, and Managerial Incentives

w7334 Rajesh K. Aggarwal
Andrew A. Samwick

Performance Incentives Within Firms: The Effect of Managerial Responsibility

w7325 David Ikenberry
Josef Lakonishok
Theo Vermaelen

Stock Repurchases in Canada: Performance and Strategic Trading

w7208 Krishna B. Kumar
Raghuram G. Rajan
Luigi Zingales

What Determines Firm Size?

w7203 Lucian Arye Bebchuk
A Rent-Protection Theory of Corporate Ownership and Control

w7151 Stephen G. Cecchetti
Legal Structure, Financial Structure, and the Monetary Policy Transmission Mechanism

w7124 John M. Abowd
David S. Kaplan

Executive Compensation: Six Questions that Need Answering

w7123 Gary Gorton
Matthias Kahl

Blockholder Identity, Equity Ownership Structures, and Hostile Takeovers

w7085 G. William Schwert
Hostility in Takeovers: In the Eyes of the Beholder?

w6951 Lucian Bebchuk
Reinier Kraakman
George Triantis

Stock Pyramids, Cross-Ownership, and the Dual Class Equity: The Creation and Agency Costs of Seperating Control from Cash Flow Rights

w6947 Tor Jakob Klette
Jarle Møen
Zvi Griliches

Do Subsidies to Commercial R&D Reduce Market Failures? Microeconomic Evaluation Studies

w6938 Lucian Arye Bebchuk
Marcel Kahan

The 'Lemons Effect' in Corporate Freeze-Outs

w6882 Iain Cockburn
Rebecca Henderson
Scott Stern

Balancing Incentives: The Tension Between Basic and Applied Research


1998
w6823 Edward J. Kane
Kimberly DeTrask

Covering Up Trading Losses: Opportunity-Cost Accounting as an Internal Control Mechanism

w6745 Jonathan B. Berk
Richard C. Green
Vasant Naik

Valuation and Return Dynamics of New Ventures

w6678 Jonathan B. Berk
A Simple Approach for Deciding When to Invest

w6649 Charles W. Calormiris
Berry Wilson

Bank Capital and Portfolio Management: The 1930's Capital Crunch and Scramble to Shed Risk

w6634 Rajesh Aggarwal
Andrew A. Samwick

The Other Side of the Tradeoff: The Impact of Risk on Executive Compensation

w6625 Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer

Corporate Ownership Around the World

w6615 James R. Hines Jr.
Investment Ramifications of Distortionary Tax Subsidies

w6561 Stewart C. Myers
Outside Equity Financing

w6550 Clifford G. Holderness
Randall S. Kroszner
Dennis P. Sheehan

Were the Good Old Days That Good? Changes in Managerial Stock Ownership Since the Great Depression

w6539 R. Glenn Hubbard
Darius Palia

A Re-Examination of the Conglomerate Merger Wave in the 1960s: An Internal Capital Markets View

w6490 Lubos Pastor
Robert F. Stambaugh

Costs of Equity Capital and Model Mispricing

w6472 Lucian Arye Bebchuk
Jesse Fried

The Uneasy Case for the Priority of Secured Claims in Bankruptcy: Further Thoughts and a Reply to Critics

w6467 Christine Jolls
Stock Repurchases and Incentive Compensation

w6421 Oliver Hart
John Moore

Cooperatives vs. Outside Ownership

w6368 Raghuram Rajan
Henri Servaes
Luigi Zingales

The Cost of Diversity: The Diversification Discount and Inefficient Investment

w6352 David S. Scharfstein
The Dark Side of Internal Capital Markets II: Evidence from Diversified Conglomerates


1997
w6309 Luigi Zingales
Corporate Governance

w6278 Oliver Hart
Rafael La Porta Drago
Florencio Lopez-de-Silane
John Moore

A New Bankruptcy Procedure that Uses Multiple Auctions

w6224 Gordon M. Bodnar
Charles Tang
Joseph Weintrop

Both Sides of Corporate Diversification: The Value Impacts of Geographic and Industrial Diversification

w6210 Owen Lamont
Christopher Polk
Jesus Saa-Requejo

Financial Constraints and Stock Returns

w6172 Fumio Hayashi
The Main Bank System and Corporate Investment: An Empirical Reassessment

w6068 Assem Safieddine
Sheridan Titman

Debt and Corporate Performance: Evidence from Unsuccessful Takeovers

w5996 R. Glenn Hubbard
Capital-Market Imperfections and Investment

w5961 Owen Lamont
Jeremy C. Stein

Leverage and House-Price Dynamics in U.S. Cities

w5907 Oliver Hart
John Moore

Default and Renegotiation: A Dynamic Model of Debt

w5902 David F. Bradford
Kyle D. Logue

The Influence of Income Tax Rules on Insurance Reserves


1996
w5779 Gary Gorton
Bruce D. Grundy

Executive Compensation and the Optimality of Managerial Entrenchment

w5682 B. Douglas Bernheim
Lee Redding

Optimal Money Burning: Theory and Application to Corporate Dividend Policy

w5648 Rajesh Aggarwal
Andrew A. Samwick

Executive Compensation, Strategic Competition, and Relative Performance Evaluation: Theory and Evidence

w5602 Mitchell A. Petersen
Raghuram G. Rajan

Trade Credit: Theories and Evidence

w5499 Owen Lamont
Cash Flow and Investment: Evidence from Internal Capital Markets

w5498 Sudipto Dasgupta
Sheridan Titman

Pricing Strategy and Financial Policy


1995
w5233 James Dow
Gary Gorton

Stock Market Efficiency and Economic Efficiency: Is There a Connection?

w5143 Stewart C. Myers
Raghuram G. Rajan

The Paradox of Liquidity

w5079 R. Glenn Hubbard
Darius Palia

Benefits of Control, Managerial Ownership, and the Stock Returns of Acquiring Firms


1994
w4976 Paul L. Joskow
Nancy L. Rose

CEO Pay and Firm Performance: Dynamics, Asymmetries, and Alternative Performance Measures

w4875 Raghuram G. Rajan
Luigi Zingales

What Do We Know About Capital Structure? Some Evidence from International Data

w4723 Nancy L. Rose
Andrea Shepard

Firm Diversification and CEO Compensation: Managerial Ability or Executive Entrenchment?

w4722 Lakshmi Shyam-Sunder
Stewart C. Myers

Testing Static Trade-off Against Pecking Order Models of Capital Structure

w4704 R. Glenn Hubbard
Darius Palia

Executive Pay and Performance: Evidence from the U.S. Banking Industry


1993
w4421 Takeo Hoshi
Anil Kashyap
David Scharfstein

The Choice Between Public and Private Debt: An Analysis of Post-Deregulation Corporate Financing in Japan

w4392 R. Glenn Hubbard
Anil K Kashyap
Toni M. Whited

Internal Finance and Firm Investment

w4316 Robert Comment
G. William Schwert

Poison or Placebo? Evidence on the Deterrent and Wealth Effects of Modern Antitakeover Measures

w4309 Jeffrey I. Bernstein
M. Ishaq Nadiri

Production, Financial Structure and Productivity Growth in U.S. Manufacturing

w4288 Charles W. Calomiris
R. Glenn Hubbard

Internal Finance and Investment: Evidence from the Undistributed Profits Tax of 1936-1937


1992
w4244 B. Douglas Bernheim
Adam Wantz

A Tax-Based Test of the Dividend Signaling Hypothesis

w4175 Robert S. Pindyck
Investments of Uncertain Cost

w4101 David Neumark
Steven A. Sharpe

Hostile Takeovers and Expropriation of Extramarginal Wages: A Test

w4096 Bronwyn H. Hall
Investment and Research and Development at the Firm Level: Does the Source of Financing Matter?

w4092 Frank R. Lichtenberg
George. M Pushner

Ownership Structure and Corporate Performance in Japan

w4084 Kenneth A. Froot
David S. Scharfstein
Jeremy C. Stein

Risk Management: Coordinating Corporate Investment and Financing Policies


1991
w3942 Paul Asquith
Robert Gertner
David Scharfstein

Anatomy of Financial Distress: An Examination of Junk-Bond Issuers

w3906 Oliver Hart
John Moore

A Theory of Debt Based on the Inalienability of Human Capital

w3873 Bruce N. Lehmann
Asset Pricing and Intrinsic Values: A Review Essay

w3798 Francois Degeorge
Richard Zeckhauser

Information Handling and Firm Performance: Evidence from Reverse LBOs

w3794 Bronwyn H. Hall
Corporate Restructuring and Investment Horizons

w3781 Jeffrey K. MacKie-Mason
Roger H. Gordon

How Much Do Taxes Discourage Incorporation.

w3730 James R. Hines Jr.
Dividends and Profits: Some Unsubtle Foreign Influences


Generated Wed Jul 23 00:00:29 2014

 
Publications
Activities
Meetings
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us