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An Empirical Examination of Mutual Fund Boards
16 references·3 citing·31 second hop
An Empirical Examination of Mutual Fund Boards (2008)An Empirical Examination of Mutual Fund B…Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)Estimating Standard Errors in…Liquidity Risk and Expected Stock Returns (2003)Liquidity Risk and Expected S…Earnings management and corporate governance: the role of the board and the audit committee (2003)Earnings management and corpo…Disentangling the Incentive and Entrenchment Effects of Large Shareholdings (2002)Disentangling the Incentive a…Costly Search and Mutual Fund Flows (1998)Costly Search and Mutual Fund…On Persistence in Mutual Fund Performance (1997)On Persistence in Mutual Fund…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…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…A Modest Proposal for Improved Corporate Governance (1992)A Modest Proposal for Improve…Additional evidence on equity ownership and corporate value (1990)Additional evidence on equity…Outside directors and CEO turnover (1988)Outside directors and CEO tur…Management ownership and market valuation (1988)Management ownership and mark…The Structure of Corporate Ownership: Causes and Consequences (1985)The Structure of Corporate Ow…Agency Problems and Residual Claims (1983)Agency Problems and Residual …Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Differentiating control, monitoring and oversight (2017)Differentiating control, moni…Board governance, monetary interest, and closed-end fund performance (2016)Board governance, monetary in…UNITARY BOARDS AND MUTUAL FUND GOVERNANCE (2008)UNITARY BOARDS AND MUTUAL FUN…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Agency Problems and the Theory of the Firm (1980)Separation of Ownership and Control (1983)A Survey of Corporate Governance (1997)Law and Finance (1998)Corporate Ownership Around the World (1999)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500 (2003)The Modern Corporation and Private Property (1933)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Cross-Section of Expected Stock Returns (1992)A five-factor asset pricing model (2014)Determinants of corporate borrowing (1977)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)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)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Illiquidity and stock returns: cross-section and time-series effects (2002)Market Liquidity and Funding Liquidity (2008)Specification Tests in Econometrics (1978)Econometric Analysis of Cross Section and Panel Data (2001)Robust Standard Errors for Panel Regressions with Cross-Sectional Dependence (2007)Robust Inference With Multiway Clustering (2011)Policy Uncertainty and Corporate Investment (2015)Theory of Value (1959)Auditor size and audit quality (1981)Strategic assets and organizational rent (1993)Multifactor Explanations of Asset Pricing Anomalies (1996)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1997On Persistence in Mutual Fund Performance17,267 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 2008Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches10,793 cited
  • 1988Management ownership and market valuation6,910 cited
  • 1996Higher market valuation of companies with a small board of directors6,614 cited
  • 1985The Structure of Corporate Ownership: Causes and Consequences6,243 cited
  • 2003Liquidity Risk and Expected Stock Returns5,362 cited
  • 1983Agency Problems and Residual Claims4,877 cited
  • 1990Additional evidence on equity ownership and corporate value4,311 cited
  • 1988Outside directors and CEO turnover4,251 cited
  • 2002Disentangling the Incentive and Entrenchment Effects of Large Shareholdings3,845 cited
  • 1998Costly Search and Mutual Fund Flows3,217 cited
  • 1996Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders2,809 cited
  • 2003Earnings management and corporate governance: the role of the board and the audit committee2,787 cited

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  • 1992A Modest Proposal for Improved Corporate Governance2,776 cited
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    • 2008UNITARY BOARDS AND MUTUAL FUND GOVERNANCE35 cited
    • 2016Board governance, monetary interest, and closed-end fund performance26 cited
    • 2017Differentiating control, monitoring and oversight20 cited