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Legal Determinants of the Return on Equity
16 references·16 citing·30 second hopsampled
Legal Determinants of the Return on Equity (2000)Legal Determinants of the Return on EquityInvestor Protection and Corporate Valuation (2002)Investor Protection and Corpo…Financial Development and Economic Growth: Views and Agenda (1999)Financial Development and Eco…Law, Finance, and Firm Growth (1998)Law, Finance, and Firm GrowthLaw and Finance (1998)Law and FinanceAgency Problems and Dividend Policies Around the World (1998)Agency Problems and Dividend …Legal Determinants of External Finance (1997)Legal Determinants of Externa…Legal Determinants of External Finance (1997)Legal Determinants of Externa…Financial Dependence and Growth (1996)Financial Dependence and Grow…Time‐Varying World Market Integration (1995)Time‐Varying World Market Int…Firms, Contracts, and Financial Structure (1995)Firms, Contracts, and Financi…Financial markets and growth (1993)Financial markets and growthCommon risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…Institutions, Institutional Change and Economic Performance (1991)Institutions, Institutional C…Institutions, Institutional Change and Economic Performance (1990)Institutions, Institutional C…A Simple Model of Capital Market Equilibrium with Incomplete Information (1987)A Simple Model of Capital Mar…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Corporate governance, firm value and risk: Past, present, and future (2015)Corporate governance, firm va…Corporate governance, value and performance of firms: new empirical results on convergence from a large international database (2013)Corporate governance, value a…How informative is the Thai corporate governance index? A financial approach (2011)How informative is the Thai c…Governance and stock market performance (2009)Governance and stock market p…What Drives Stock Market Development in the Middle East and Central Asia--Institutions, Remittances, or Natural Resources? (2007)What Drives Stock Market Deve…The impact of reported corporate governance disclosure on the financial performance of companies listed on the JSE (2007)The impact of reported corpor…Relationship between Corporate Governance Indicators and Firm Value: A Case Study of Karachi Stock Exchange (2007)Relationship between Corporat…Corporate Governance and Shareholder Value Maximization: An African Perspective (2007)Corporate Governance and Shar…The Anglo‐Saxon Approach to Corporate Governance and its Applicability to Emerging Markets (2006)The Anglo‐Saxon Approach to C…Privatization and stock market liquidity (2006)Privatization and stock marke…Corporate Governance and Economic Performance (2006)Corporate Governance and Econ…Corruption, Firm Governance, and the Cost of Capital (2005)Corruption, Firm Governance, …Transparency, Financial Accounting Information, and Corporate Governance. (Part 1: A Review of the Literature on Corporate Governance) (2003)Transparency, Financial Accou…Corporate Governance and Expected Stock Returns: Evidence from Germany (2003)Corporate Governance and Expe…Why Do Governments Privatize Abroad? (2002)Why Do Governments Privatize …The Costs, Wealth Effects, and Determinants of International Capital Raising: Evidence from Public Yankee Bonds (2002)The Costs, Wealth Effects, an…The Problem of Social Cost (1960)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Corporate financing and investment decisions when firms have information that investors do not have (1984)Investor protection and corporate governance (2000)What Do We Know about Capital Structure? Some Evidence from International Data (1995)A Survey of Corporate Governance (1997)Corporate Ownership Around the World (1999)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Cross-Section of Expected Stock Returns (1992)On Persistence in Mutual Fund Performance (1997)Illiquidity and stock returns: cross-section and time-series effects (2002)A five-factor asset pricing model (2014)The Framing of Decisions and the Psychology of Choice (1981)The Limits of Arbitrage (1995)The Cross‐Section of Volatility and Expected Returns (2006)Credit Rationing in Markets with Imperfect Information (1981)A Contribution to the Empirics of Economic Growth (1992)Financial intermediation and growth: Causality and causes (2000)Finance and Growth: Theory and Evidence (2004)Law, finance, and economic growth in China (2005)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Colonial Origins of Comparative Development: An Empirical Investigation (2001)Corruption and Growth (1995)Social Capital, Intellectual Capital, and the Organizational Advantage (1998)The Relational View: Cooperative Strategy and Sources of Interorganizational Competitive Advantage (1998)Disentangling the Incentive and Entrenchment Effects of Large Shareholdings (2002)The ultimate ownership of Western European corporations (2002)Not So Different After All: A Cross-Discipline View Of Trust (1998)
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References

  • 1990Institutions, Institutional Change and Economic Performance32,644 cited
  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1991Institutions, Institutional Change and Economic Performance24,871 cited
  • 1998Law and Finance17,902 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1997Legal Determinants of External Finance9,776 cited
  • 1996Financial Dependence and Growth8,055 cited
  • 1987A Simple Model of Capital Market Equilibrium with Incomplete Information5,808 cited
  • 1995Firms, Contracts, and Financial Structure4,671 cited
  • 2002Investor Protection and Corporate Valuation4,055 cited
  • 1998Agency Problems and Dividend Policies Around the World3,179 cited
  • 1999Financial Development and Economic Growth: Views and Agenda2,978 cited
  • 1998Law, Finance, and Firm Growth2,452 cited
  • 1995Time‐Varying World Market Integration2,152 cited
  • 1997Legal Determinants of External Finance2,032 cited
  • 1993Financial markets and growth1,559 cited

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Cited by

  • 2002The Costs, Wealth Effects, and Determinants of International Capital Raising: Evidence from Public Yankee Bonds102 cited
  • 2006Privatization and stock market liquidity91 cited
  • 2009Governance and stock market performance87 cited
  • 2003Corporate Governance and Expected Stock Returns: Evidence from Germany83 cited
  • 2015Corporate governance, firm value and risk: Past, present, and future79 cited
  • 2007Corporate Governance and Shareholder Value Maximization: An African Perspective79 cited
  • 2005Corruption, Firm Governance, and the Cost of Capital75 cited
  • 2007Relationship between Corporate Governance Indicators and Firm Value: A Case Study of Karachi Stock Exchange64 cited
  • 2006The Anglo‐Saxon Approach to Corporate Governance and its Applicability to Emerging Markets63 cited
  • 2011How informative is the Thai corporate governance index? A financial approach62 cited
  • 2007The impact of reported corporate governance disclosure on the financial performance of companies listed on the JSE62 cited
  • 2013Corporate governance, value and performance of firms: new empirical results on convergence from a large international database61 cited
  • 2002Why Do Governments Privatize Abroad?56 cited
  • 2003Transparency, Financial Accounting Information, and Corporate Governance. (Part 1: A Review of the Literature on Corporate Governance)52 cited
  • 2007What Drives Stock Market Development in the Middle East and Central Asia--Institutions, Remittances, or Natural Resources?51 cited
  • 2006Corporate Governance and Economic Performance51 cited