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Share repurchases and firm performance: new evidence on the agency costs of free cash flow
16 references·16 citing·43 second hopsampled
Share repurchases and firm performance: new evidence on the agency costs of free cash flow (1998)Share repurchases and firm performance: n…Detecting abnormal operating performance: The empirical power and specification of test statistics (1996)Detecting abnormal operating …The Effect of Lender Identity on a Borrowing Firm's Equity Return (1995)The Effect of Lender Identity…Changes in corporate performance associated with bank acquisitions (1992)Changes in corporate performa…Tobin's Q and the Gains from Takeovers (1991)Tobin's Q and the Gains from …The Relative Signalling Power of Dutch-Auction and Fixed-Price Self-Tender Offers and Open-Market Share Repurchases (1991)The Relative Signalling Power…Event-study methodology under conditions of event-induced variance (1991)Event-study methodology under…Does Corporate Performance Improve After Mergers? (1990)Does Corporate Performance Im…Free Cash Flow and Stockholder Gains in Going Private Transactions (1989)Free Cash Flow and Stockholde…Dividend announcements (1989)Dividend announcementsManagement ownership and market valuation (1988)Management ownership and mark…Expected stock returns and volatility (1987)Expected stock returns and vo…A Theory of Stock Price Responses to Alternative Corporate Cash Disbursement Methods: Stock Repurchases and Dividends (1987)A Theory of Stock Price Respo…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…Two Agency-Cost Explanations of Dividends (1984)Two Agency-Cost Explanations …Common stock repurchases (1981)Common stock repurchasesCommon stock repurchases and market signalling (1981)Common stock repurchases and …Acquisitions driven by stock overvaluation: Are they good deals? (2013)Acquisitions driven by stock …Payout Policy Choices and Shareholder Investment Horizons (2012)Payout Policy Choices and Sha…Side-by-Side Management of Hedge Funds and Mutual Funds (2010)Side-by-Side Management of He…Information asymmetry and the value of cash (2010)Information asymmetry and the…Share Repurchases and Pay‐Performance Sensitivity of Employee Compensation Contracts (2009)Share Repurchases and Pay‐Per…Operating performance following open market share repurchase announcements (2005)Operating performance followi…Cash and Corporate Control (2004)Cash and Corporate ControlWhy companies use open-market repurchases: A managerial perspective (2003)Why companies use open-market…The Underinvestment and Overinvestment Hypotheses: an Analysis Using Panel Data (2003)The Underinvestment and Overi…STRATEGIC SATISFICING? A BEHAVIORAL--AGENCY THEORY PERSPECTIVE ON STOCK REPURCHASE PROGRAM ANNOUNCEMENTS. (2003)STRATEGIC SATISFICING? A BEHA…Revisiting the dividend puzzle (2002)Revisiting the dividend puzzleRegulation, Taxes, and Share Repurchases in the United Kingdom (2002)Regulation, Taxes, and Share …Debt vs. Equity and Asymmetric Information: A Review (2002)Debt vs. Equity and Asymmetri…WHAT DO WE KNOW ABOUT STOCK REPURCHASES? (2000)WHAT DO WE KNOW ABOUT STOCK R…Equity Undervaluation and Decisions Related to Repurchase Tender Offers: An Empirical Investigation (2000)Equity Undervaluation and Dec…Corporate Share Repurchases in the 1990s: What Role Do Stock Options Play? (2000)Corporate Share Repurchases i…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Job Market Signaling (1973)Efficient Capital Markets: II (1991)Market underreaction to open market share repurchases (1995)Market Efficiency, Long-Term Returns, and Behavioral Finance (1997)The cost of capital, corporation finance and the theory of investment (2008)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)Specification Tests in Econometrics (1978)Autoregressive Conditional Heteroscedasticity with Estimates of the Variance of United Kingdom Inflation (1982)Generalized autoregressive conditional heteroskedasticity (1986)Conditional Heteroskedasticity in Asset Returns: A New Approach (1991)On the Relation between the Expected Value and the Volatility of the Nominal Excess Return on Stocks (1993)Illiquidity and stock returns: cross-section and time-series effects (2002)A test of the free cash flow hypothesis (1991)Interorganizational Imitation: The Impact of Interlocks on Corporate Acquisition Activity (1993)Agency costs of free cash flow, corporate finance, and takeovers (1996)Corporate Social Responsibility as a Conflict Between Shareholders (2010)Synergistic gains from corporate acquisitions and their division between the stockholders of target and acquiring firms (1988)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders (1996)New Evidence and Perspectives on Mergers (2001)Measuring security price performance (1980)Using daily stock returns (1985)The Event Study Methodology Since 1969 (1998)The Adjustment of Stock Prices to New Information (2003)Event Study Testing with Cross-sectional Correlation of Abnormal Returns (2010)Testing Asymmetric-Information Asset Pricing Models (2012)The effects of management buyouts on operating performance and value (1989)Size and Book-to-Market Factors in Earnings and Returns (1995)Measuring long-horizon security price performance (1997)An Examination of Long‐Term Abnormal Stock Returns and Operating Performance Following R&D Increases (2004)Dumb money: Mutual fund flows and the cross-section of stock returns (2008)The market for corporate control (1983)Do Managerial Objectives Drive Bad Acquisitions? (1990)The Success of Acquisitions: Evidence from Divestitures (1992)Does Investor Misvaluation Drive the Takeover Market? (2006)Taking Stock of What We Know About Mergers and Acquisitions: A Review and Research Agenda (2009)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)
this work references cited by second hop· second hop is a sample of the most-cited connections

References

  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1988Management ownership and market valuation6,910 cited
  • 1987Expected stock returns and volatility4,147 cited
  • 1984Two Agency-Cost Explanations of Dividends3,109 cited
  • 1991Event-study methodology under conditions of event-induced variance1,777 cited
  • 1990Does Corporate Performance Improve After Mergers?1,662 cited
  • 1996Detecting abnormal operating performance: The empirical power and specification of test statistics1,609 cited
  • 1989Free Cash Flow and Stockholder Gains in Going Private Transactions1,097 cited
  • 1981Common stock repurchases and market signalling1,037 cited
  • 1991Tobin's Q and the Gains from Takeovers915 cited
  • 1989Dividend announcements797 cited
  • 1981Common stock repurchases697 cited
  • 1991The Relative Signalling Power of Dutch-Auction and Fixed-Price Self-Tender Offers and Open-Market Share Repurchases616 cited
  • 1995The Effect of Lender Identity on a Borrowing Firm's Equity Return501 cited
  • 1992Changes in corporate performance associated with bank acquisitions474 cited

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1987
A Theory of Stock Price Responses to Alternative Corporate Cash Disbursement Methods: Stock Repurchases and Dividends
436 cited

Cited by

  • 2000WHAT DO WE KNOW ABOUT STOCK REPURCHASES?302 cited
  • 2010Information asymmetry and the value of cash289 cited
  • 2013Acquisitions driven by stock overvaluation: Are they good deals?286 cited
  • 2005Operating performance following open market share repurchase announcements285 cited
  • 2000Equity Undervaluation and Decisions Related to Repurchase Tender Offers: An Empirical Investigation237 cited
  • 2004Cash and Corporate Control201 cited
  • 2002Regulation, Taxes, and Share Repurchases in the United Kingdom193 cited
  • 2003STRATEGIC SATISFICING? A BEHAVIORAL--AGENCY THEORY PERSPECTIVE ON STOCK REPURCHASE PROGRAM ANNOUNCEMENTS.171 cited
  • 2012Payout Policy Choices and Shareholder Investment Horizons170 cited
  • 2000Corporate Share Repurchases in the 1990s: What Role Do Stock Options Play?128 cited
  • 2009Share Repurchases and Pay‐Performance Sensitivity of Employee Compensation Contracts126 cited
  • 2002Revisiting the dividend puzzle126 cited
  • 2003The Underinvestment and Overinvestment Hypotheses: an Analysis Using Panel Data122 cited
  • 2002Debt vs. Equity and Asymmetric Information: A Review110 cited
  • 2010Side-by-Side Management of Hedge Funds and Mutual Funds108 cited
  • 2003Why companies use open-market repurchases: A managerial perspective104 cited