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Investment, Idiosyncratic Risk, and Ownership
16 references·0 citing·44 second hop
Investment, Idiosyncratic Risk, and Ownership (2011)Investment, Idiosyncratic Risk, and Owner…The Impact of Uncertainty Shocks (2009)The Impact of Uncertainty Sho…Financial Constraints Risk (2006)Financial Constraints RiskCEO Overconfidence and Corporate Investment (2005)CEO Overconfidence and Corpor…Managing with Style: The Effect of Managers on Firm Policies (2003)Managing with Style: The Effe…Institutional Investors and Executive Compensation (2003)Institutional Investors and E…Estimating the Value of Employee Stock Option Portfolios and Their Sensitivities to Price and Volatility (2002)Estimating the Value of Emplo…Corporate governance proposals and shareholder activism: the role of institutional investors (2000)Corporate governance proposal…Industry costs of equity (1997)Industry costs of equityCommon risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…Liquidation Values and Debt Capacity: A Market Equilibrium Approach (1992)Liquidation Values and Debt C…Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations (1991)Some Tests of Specification f…Financing Constraints and Corporate Investment (1988)Financing Constraints and Cor…Moral Hazard and Observability (1979)Moral Hazard and ObservabilityDeterminants of corporate borrowing (1977)Determinants of corporate bor…Theory of Rational Option Pricing (1973)Theory of Rational Option Pri…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Essays in the Theory of Risk-Bearing. (1972)The Economic Theory of Agency: The Principal's Problem. (1973)Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Moral Hazard in Teams (1982)Financial Intermediation and Delegated Monitoring (1984)Agency Costs, Net Worth, And Business Fluctuations (1988)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)The theory and practice of corporate finance: evidence from the field (2001)Women in the boardroom and their impact on governance and performance☆ (2009)What Determines Productivity? (2011)American Economic Review (2019)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 Cost of Capital, Corporation Finance and the Theory of Investment (1958)Dividend Policy, Growth, and the Valuation of Shares (1961)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)The Capital Structure Puzzle (1984)A Survey of Corporate Governance (1997)Specification Tests in Econometrics (1978)Formulation and estimation of dynamic models using panel data (1982)Estimating Vector Autoregressions with Panel Data (1988)Another look at the instrumental variable estimation of error-components models (1995)Initial conditions and moment restrictions in dynamic panel data models (1998)Econometric Analysis of Cross Section and Panel Data (2001)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)Irreversibility, Uncertainty, and Cyclical Investment (1980)Investment Under Uncertainty. (1994)Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy (2005)Measuring Uncertainty (2015)Measuring Economic Policy Uncertainty* (2016)Multifactor Explanations of Asset Pricing Anomalies (1996)How do family ownership, control and management affect firm value? (2005)Measuring Geopolitical Risk (2022)The Benefits of Lending Relationships: Evidence from Small Business Data (1994)Threshold effects in non-dynamic panels: Estimation, testing, and inference (1999)New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)Option pricing: A simplified approach (1979)A Closed-Form Solution for Options with Stochastic Volatility with Applications to Bond and Currency Options (1993)
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References

  • 1991Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations33,662 cited
  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1977Determinants of corporate borrowing13,160 cited
  • 1979Moral Hazard and Observability8,358 cited
  • 1973Theory of Rational Option Pricing8,084 cited
  • 2009The Impact of Uncertainty Shocks5,941 cited
  • 1997Industry costs of equity5,793 cited
  • 1988Financing Constraints and Corporate Investment5,566 cited
  • 2003Managing with Style: The Effect of Managers on Firm Policies3,921 cited
  • 2006Financial Constraints Risk3,702 cited
  • 2005CEO Overconfidence and Corporate Investment3,686 cited
  • 1992Liquidation Values and Debt Capacity: A Market Equilibrium Approach2,901 cited
  • 2003Institutional Investors and Executive Compensation2,012 cited
  • 2000Corporate governance proposals and shareholder activism: the role of institutional investors1,776 cited
  • 2002Estimating the Value of Employee Stock Option Portfolios and Their Sensitivities to Price and Volatility

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