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Limited attention, share repurchases, and takeover risk
16 references·2 citing·35 second hopsampled
Limited attention, share repurchases, and takeover risk (2014)Limited attention, share repurchases, and…Why Do U.S. Firms Hold So Much More Cash than They Used To? (2009)Why Do U.S. Firms Hold So Muc…What Matters in Corporate Governance? (2008)What Matters in Corporate Gov…Dissecting Anomalies (2007)Dissecting AnomaliesPayout policy in the 21st century (2005)Payout policy in the 21st cen…Information and the Cost of Capital (2004)Information and the Cost of C…Liquidity Risk and Expected Stock Returns (2003)Liquidity Risk and Expected S…On Adjusting the Hodrick-Prescott Filter for the Frequency of Observations (2002)On Adjusting the Hodrick-Pres…Managerial Decisions and Long‐Term Stock Price Performance (2000)Managerial Decisions and Long…Corporate Cash Reserves and Acquisitions (1999)Corporate Cash Reserves and A…Postwar U.S. Business Cycles: An Empirical Investigation (1997)Postwar U.S. Business Cycles:…On Persistence in Mutual Fund Performance (1997)On Persistence in Mutual Fund…Industry costs of equity (1997)Industry costs of equityEvidence on the Characteristics of Cross Sectional Variation in Stock Returns (1997)Evidence on the Characteristi…Market underreaction to open market share repurchases (1995)Market underreaction to open …Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Capital structure and corporate reaction to negative stock return shocks (2017)Capital structure and corpora…Takeover vulnerability and the credibility of signaling: The case of open-market share repurchases (2015)Takeover vulnerability and th…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)The General Theory of Employment, Interest and Money, by John Maynard Keynes (1936)The General Theory of Employment, Interest and Money. (1936)Macroeconomics and Reality (1980)The Band Pass Filter (1999)Measuring Uncertainty (2015)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)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency costs of free cash flow, corporate finance, and takeovers (1996)Corporate Governance and Equity Prices (2003)Costly external finance, corporate investment, and the subprime mortgage credit crisis (2010)Product Market Threats, Payouts, and Financial Flexibility (2012)Feverish Stock Price Reactions to COVID-19* (2020)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Dividend Policy, Growth, and the Valuation of Shares (1961)The Economic Implications of Corporate Financial Reporting (2004)The economic implications of corporate financial reporting (2005)Corporate governance and firm cash holdings in the US (2007)Continuous Auctions and Insider Trading (1985)Information Uncertainty and Stock Returns (2006)Liquidity and Asset Prices (2006)High idiosyncratic volatility and low returns: International and further U.S. evidence (2008)Law and Finance (1998)Does Corporate Social Responsibility Affect the Cost of Capital? (2010)Does governance travel around the world? Evidence from institutional investors (2010)Social Capital, Trust, and Firm Performance: The Value of Corporate Social Responsibility during the Financial Crisis (2017)Multifactor Explanations of Asset Pricing Anomalies (1996)Measuring Mutual Fund Performance with Characteristic‐Based Benchmarks (1997)Conditional Skewness in Asset Pricing Tests (2000)
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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
  • 1997Postwar U.S. Business Cycles: An Empirical Investigation7,358 cited
  • 1997Industry costs of equity5,793 cited
  • 2003Liquidity Risk and Expected Stock Returns5,362 cited
  • 2004Information and the Cost of Capital3,057 cited
  • 2008What Matters in Corporate Governance?2,903 cited
  • 2009Why Do U.S. Firms Hold So Much More Cash than They Used To?2,896 cited
  • 2005Payout policy in the 21st century2,268 cited
  • 1999Corporate Cash Reserves and Acquisitions2,066 cited
  • 2002On Adjusting the Hodrick-Prescott Filter for the Frequency of Observations1,986 cited
  • 1995Market underreaction to open market share repurchases1,739 cited
  • 1997Evidence on the Characteristics of Cross Sectional Variation in Stock Returns1,665 cited
  • 2000Managerial Decisions and Long‐Term Stock Price Performance1,573 cited
  • 2007Dissecting Anomalies

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  • 2015Takeover vulnerability and the credibility of signaling: The case of open-market share repurchases18 cited
  • 2017Capital structure and corporate reaction to negative stock return shocks17 cited