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CONVEXITY, MAGNIFICATION, AND TRANSLATION: THE EFFECT OF MANAGERIAL OPTION‐BASED COMPENSATION ON CORPORATE CASH HOLDINGS
16 references·0 citing·39 second hop
CONVEXITY, MAGNIFICATION, AND TRANSLATION: THE EFFECT OF MANAGERIAL OPTION‐BASED COMPENSATION ON CORPORATE CASH HOLDINGS (2014)CONVEXITY, MAGNIFICATION, AND TRANSLATION…Managerial incentives and risk-taking☆ (2005)Managerial incentives and ris…Corporate cash holdings: An empirical investigation of UK companies (2003)Corporate cash holdings: An e…Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature (2001)Boards of Directors as an End…The sensitivity of CEO wealth to equity risk: an analysis of the magnitude and determinants (1999)The sensitivity of CEO wealth…The determinants and implications of corporate cash holdings (1999)The determinants and implicat…NUMBER OF DIRECTORS AND FINANCIAL PERFORMANCE: A META-ANALYSIS. (1999)NUMBER OF DIRECTORS AND FINAN…The Determinants of Corporate Liquidity: Theory and Evidence (1998)The Determinants of Corporate…Initial conditions and moment restrictions in dynamic panel data models (1998)Initial conditions and moment…Higher market valuation of companies with a small board of directors (1996)Higher market valuation of co…Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders (1996)Firm Performance and Mechanis…Initial conditions and moment restrictions in dynamic panel data models (1995)Initial conditions and moment…Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations (1991)Some Tests of Specification f…Outside directors and CEO turnover (1988)Outside directors and CEO tur…The Determinants of Firms' Hedging Policies (1985)The Determinants of Firms' He…Agency Problems and Residual Claims (1983)Agency Problems and Residual …Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY (1968)The Pricing of Options and Corporate Liabilities (1973)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Boards: Does one size fit all☆ (2007)Are Overconfident CEOs Better Innovators? (2012)Corporate Immunity to the COVID-19 Pandemic (2020)Specification Tests in Econometrics (1978)Econometric Analysis of Cross Section and Panel Data (2001)Determinants of corporate borrowing (1977)Management ownership and market valuation (1988)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Audit committee, board of director characteristics, and earnings management (2002)Corporate Governance and Equity Prices (2003)Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500 (2003)Agency Problems and the Theory of the Firm (1980)Separation of Ownership and Control (1983)A Survey of Corporate Governance (1997)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)On financial contracting (1979)Optimal capital structure under corporate and personal taxation (1980)The investment opportunity set and corporate financing, dividend, and compensation policies (1992)The relationship between corporate social responsibility and shareholder value: an empirical test of the risk management hypothesis (2008)Biases in Dynamic Models with Fixed Effects (1981)Another look at the instrumental variable estimation of error-components models (1995)A finite sample correction for the variance of linear efficient two-step GMM estimators (2004)How to do Xtabond2: An Introduction to Difference and System GMM in Stata (2009)Risk, Return, and Equilibrium: Empirical Tests (1973)Corporate financing and investment decisions when firms have information that investors do not have (1984)The theory and practice of corporate finance: evidence from the field (2001)The Cash Flow Sensitivity of Cash (2004)New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)Theory of Value (1959)Auditor size and audit quality (1981)Strategic assets and organizational rent (1993)Does Corporate Social Responsibility Affect the Cost of Capital? (2010)On the measurement of inequality (1970)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 arbitrage theory of capital asset pricing (1976)
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References

  • 1991Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations33,089 cited
  • 1998Initial conditions and moment restrictions in dynamic panel data models22,547 cited
  • 1995Initial conditions and moment restrictions in dynamic panel data models14,749 cited
  • 1996Higher market valuation of companies with a small board of directors6,614 cited
  • 1964Risk Aversion in the Small and in the Large4,964 cited
  • 1983Agency Problems and Residual Claims4,877 cited
  • 1988Outside directors and CEO turnover4,251 cited
  • 1999The determinants and implications of corporate cash holdings3,910 cited
  • 1985The Determinants of Firms' Hedging Policies3,270 cited
  • 2005Managerial incentives and risk-taking☆2,924 cited
  • 1996Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders2,809 cited
  • 2001Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature2,499 cited
  • 1999NUMBER OF DIRECTORS AND FINANCIAL PERFORMANCE: A META-ANALYSIS.1,768 cited
  • 1999The sensitivity of CEO wealth to equity risk: an analysis of the magnitude and determinants1,391 cited
  • 1998The Determinants of Corporate Liquidity: Theory and Evidence

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1,243 cited
  • 2003Corporate cash holdings: An empirical investigation of UK companies1,178 cited
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