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Large controlling shareholders and stock price synchronicity
16 references·16 citing·26 second hopsampled
Large controlling shareholders and stock price synchronicity (2013)Large controlling shareholders and stock …Corporate Governance and Equity Prices (2003)Corporate Governance and Equi…The ultimate ownership of Western European corporations (2002)The ultimate ownership of Wes…Illiquidity and stock returns: cross-section and time-series effects (2002)Illiquidity and stock returns…Disentangling the Incentive and Entrenchment Effects of Large Shareholdings (2002)Disentangling the Incentive a…The separation of ownership and control in East Asian Corporations (2000)The separation of ownership a…The information content of stock markets: why do emerging markets have synchronous stock price movements? (2000)The information content of st…Corporate Ownership Around the World (1999)Corporate Ownership Around th…Industry costs of equity (1997)Industry costs of equityA Survey of Corporate Governance (1997)A Survey of Corporate Governa…Large Shareholders and Corporate Control (1986)Large Shareholders and Corpor…On the Impossibility of Informationally Efficient Markets (1980)On the Impossibility of Infor…On the Impossibility of Informationally Efficient Markets (1980)On the Impossibility of Infor…Agency Problems and the Theory of the Firm (1980)Agency Problems and the Theor…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…The Modern Corporation and Private Property (1933)The Modern Corporation and Pr…Public data access and stock price synchronicity: Evidence from China (2023)Public data access and stock …Crash risk and ESG disclosure (2022)Crash risk and ESG disclosureStakeholders and the stock price crash risk: What matters in corporate social performance? (2021)Stakeholders and the stock pr…Does stock market liberalization reduce stock price synchronicity? —Evidence from the Shanghai-Hong Kong Stock Connect (2021)Does stock market liberalizat…Controlling shareholder share pledging and stock price crash risk: Evidence from China (2021)Controlling shareholder share…How Do Corporate Social Responsibility and Corporate Governance Affect Stock Price Crash Risk? (2020)How Do Corporate Social Respo…CEO power and stock price crash risk in China: Do female directors' critical mass and ownership structure matter? (2020)CEO power and stock price cra…Multiple large shareholders and corporate social responsibility reporting (2019)Multiple large shareholders a…Media coverage and stock price synchronicity (2019)Media coverage and stock pric…Does gender diversity on boards influence stock market liquidity? Empirical evidence from the French market (2019)Does gender diversity on boar…Aggregate investor sentiment and stock return synchronicity (2019)Aggregate investor sentiment …Corporate debt maturity and stock price crash risk (2017)Corporate debt maturity and s…Do political connections affect stock price crash risk? Firm-level evidence from China (2016)Do political connections affe…Governance Quality and Information Asymmetry (2015)Governance Quality and Inform…State Ownership, Political Institutions, and Stock Price Informativeness: Evidence from Privatization (2014)State Ownership, Political In…Control–ownership wedge, board of directors, and the value of excess cash (2014)Control–ownership wedge, boar…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)Multifactor Explanations of Asset Pricing Anomalies (1996)Measuring Mutual Fund Performance with Characteristic‐Based Benchmarks (1997)Conditional Skewness in Asset Pricing Tests (2000)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)Mergers and the Market for Corporate Control (1965)Takeover Bids, The Free-Rider Problem, and the Theory of the Corporation (1980)The Nature of the Firm (1937)Dynamic capabilities and strategic management (1997)The Pricing of Options and Corporate Liabilities (1973)Corporate financing and investment decisions when firms have information that investors do not have (1984)Editor's Choice Digesting Anomalies: An Investment ApproachOn Persistence in Mutual Fund Performance (1997)Liquidity Risk and Expected Stock Returns (2003)Asset pricing with liquidity risk (2005)Separation of Ownership and Control (1983)Legal Determinants of External Finance (1997)Investor protection and corporate governance (2000)Law and Finance (1998)Earnings management and investor protection: an international comparison (2003)How do family ownership, control and management affect firm value? (2005)How does financial reporting quality relate to investment efficiency? (2009)The Impact of Corporate Sustainability on Organizational Processes and Performance (2014)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1997A Survey of Corporate Governance16,237 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1999Corporate Ownership Around the World10,565 cited
  • 1980Agency Problems and the Theory of the Firm10,540 cited
  • 2002Illiquidity and stock returns: cross-section and time-series effects10,008 cited
  • 1986Large Shareholders and Corporate Control8,403 cited
  • 1933The Modern Corporation and Private Property7,361 cited
  • 2003Corporate Governance and Equity Prices6,115 cited
  • 1997Industry costs of equity5,793 cited
  • 2000The separation of ownership and control in East Asian Corporations5,753 cited
  • 1980On the Impossibility of Informationally Efficient Markets5,122 cited
  • 2002Disentangling the Incentive and Entrenchment Effects of Large Shareholdings3,845 cited
  • 2002The ultimate ownership of Western European corporations3,798 cited
  • 1980On the Impossibility of Informationally Efficient Markets3,640 cited
  • 2000The information content of stock markets: why do emerging markets have synchronous stock price movements?

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Cited by

  • 2020CEO power and stock price crash risk in China: Do female directors' critical mass and ownership structure matter?169 cited
  • 2021Stakeholders and the stock price crash risk: What matters in corporate social performance?138 cited
  • 2019Media coverage and stock price synchronicity135 cited
  • 2016Do political connections affect stock price crash risk? Firm-level evidence from China130 cited
  • 2021Controlling shareholder share pledging and stock price crash risk: Evidence from China120 cited
  • 2017Corporate debt maturity and stock price crash risk109 cited
  • 2014State Ownership, Political Institutions, and Stock Price Informativeness: Evidence from Privatization105 cited
  • 2019Aggregate investor sentiment and stock return synchronicity93 cited
  • 2020How Do Corporate Social Responsibility and Corporate Governance Affect Stock Price Crash Risk?82 cited
  • 2022Crash risk and ESG disclosure77 cited
  • 2021Does stock market liberalization reduce stock price synchronicity? —Evidence from the Shanghai-Hong Kong Stock Connect76 cited
  • 2015Governance Quality and Information Asymmetry75 cited
  • 2019Does gender diversity on boards influence stock market liquidity? Empirical evidence from the French market68 cited
  • 2014Control–ownership wedge, board of directors, and the value of excess cash67 cited
  • 2019Multiple large shareholders and corporate social responsibility reporting65 cited
  • 2023Public data access and stock price synchronicity: Evidence from China62 cited