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Excess Funds and Agency Problems: An Empirical Study of Incremental Cash Disbursements
16 references·16 citing·33 second hopsampled
Excess Funds and Agency Problems: An Empirical Study of Incremental Cash Disbursements (2000)Excess Funds and Agency Problems: An Empi…The determinants and implications of corporate cash holdings (1999)The determinants and implicat…Detecting long-run abnormal stock returns: The empirical power and specification of test statistics (1997)Detecting long-run abnormal s…Market underreaction to open market share repurchases (1995)Market underreaction to open …Outside directors, board independence, and shareholder wealth (1990)Outside directors, board inde…Additional evidence on equity ownership and corporate value (1990)Additional evidence on equity…Outside directors and CEO turnover (1988)Outside directors and CEO tur…Managerial control of voting rights (1988)Managerial control of voting …Management ownership and market valuation (1988)Management ownership and mark…A Simple Model of Capital Market Equilibrium with Incomplete Information (1987)A Simple Model of Capital Mar…Large Shareholders and Corporate Control (1986)Large Shareholders and Corpor…Asset pricing and the bid-ask spread (1986)Asset pricing and the bid-ask…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…Dividend Policy under Asymmetric Information (1985)Dividend Policy under Asymmet…Two Agency-Cost Explanations of Dividends (1984)Two Agency-Cost Explanations …Imperfect Information, Dividend Policy, and "The Bird in the Hand" Fallacy (1979)Imperfect Information, Divide…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…Does board gender diversity affect corporate cash holdings? (2019)Does board gender diversity a…Share repurchases, catering, and dividend substitution (2013)Share repurchases, catering, …The Credibility of Open Market Share Repurchase Signaling (2012)The Credibility of Open Marke…Earnings quality and corporate cash holdings (2011)Earnings quality and corporat…Stock Repurchases and Executive Compensation Contract Design: The Role of Earnings per Share Performance Conditions (2010)Stock Repurchases and Executi…Overinvestment, corporate governance, and dividend initiations (2010)Overinvestment, corporate gov…Share Repurchases and Pay‐Performance Sensitivity of Employee Compensation Contracts (2009)Share Repurchases and Pay‐Per…Share reacquisitions, surplus cash, and agency problems (2007)Share reacquisitions, surplus…Corporate Payout Policy and Product Market Competition (2007)Corporate Payout Policy and P…Financial Flexibility, Performance, and the Corporate Payout Choice* (2005)Financial Flexibility, Perfor…Dividends, Corporate Monitors and Agency Costs (2005)Dividends, Corporate Monitors…Dividend Taxation and Corporate Governance (2005)Dividend Taxation and Corpora…Corporate Dividend Policy: The Views of British Financial Managers (2005)Corporate Dividend Policy: Th…Operating performance following dividend decreases and omissions (2004)Operating performance followi…Why companies use open-market repurchases: A managerial perspective (2003)Why companies use open-market…Revisiting the dividend puzzle (2002)Revisiting the dividend puzzleAgency 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)Higher market valuation of companies with a small board of directors (1996)Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500 (2003)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Risk, Return, and Equilibrium: Empirical Tests (1973)The Framing of Decisions and the Psychology of Choice (1981)The Limits of Arbitrage (1995)Illiquidity and stock returns: cross-section and time-series effects (2002)The Cross‐Section of Volatility and Expected Returns (2006)The relationship between return and market value of common stocks (1981)The theory and practice of econometrics (1986)Liquidity Risk and Expected Stock Returns (2003)Investor Sentiment and the Cross‐Section of Stock Returns (2006)Mergers and the Market for Corporate Control (1965)Takeover Bids, The Free-Rider Problem, and the Theory of the Corporation (1980)Dividend Policy, Growth, and the Valuation of Shares (1961)Job Market Signaling (1973)Corporate financing and investment decisions when firms have information that investors do not have (1984)Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have (1984)Efficient Capital Markets: II (1991)The Nature of the Firm (1937)The Pricing of Options and Corporate Liabilities (1973)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)The theory and practice of corporate finance: evidence from the field (2001)The Cash Flow Sensitivity of Cash (2004)New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1986Large Shareholders and Corporate Control8,403 cited
  • 1988Management ownership and market valuation6,910 cited
  • 1987A Simple Model of Capital Market Equilibrium with Incomplete Information5,808 cited
  • 1986Asset pricing and the bid-ask spread5,087 cited
  • 1990Additional evidence on equity ownership and corporate value4,311 cited
  • 1988Outside directors and CEO turnover4,251 cited
  • 1999The determinants and implications of corporate cash holdings3,910 cited
  • 1985Dividend Policy under Asymmetric Information3,459 cited
  • 1984Two Agency-Cost Explanations of Dividends3,109 cited
  • 1979Imperfect Information, Dividend Policy, and "The Bird in the Hand" Fallacy2,809 cited
  • 1997Detecting long-run abnormal stock returns: The empirical power and specification of test statistics2,690 cited
  • 1988Managerial control of voting rights2,441 cited
  • 1990Outside directors, board independence, and shareholder wealth1,930 cited

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1995
Market underreaction to open market share repurchases
1,739 cited

Cited by

  • 2019Does board gender diversity affect corporate cash holdings?179 cited
  • 2012The Credibility of Open Market Share Repurchase Signaling146 cited
  • 2010Overinvestment, corporate governance, and dividend initiations140 cited
  • 2005Financial Flexibility, Performance, and the Corporate Payout Choice*134 cited
  • 2005Corporate Dividend Policy: The Views of British Financial Managers129 cited
  • 2009Share Repurchases and Pay‐Performance Sensitivity of Employee Compensation Contracts126 cited
  • 2002Revisiting the dividend puzzle126 cited
  • 2011Earnings quality and corporate cash holdings125 cited
  • 2007Corporate Payout Policy and Product Market Competition115 cited
  • 2005Dividends, Corporate Monitors and Agency Costs106 cited
  • 2005Dividend Taxation and Corporate Governance106 cited
  • 2007Share reacquisitions, surplus cash, and agency problems104 cited
  • 2003Why companies use open-market repurchases: A managerial perspective104 cited
  • 2013Share repurchases, catering, and dividend substitution100 cited
  • 2010Stock Repurchases and Executive Compensation Contract Design: The Role of Earnings per Share Performance Conditions95 cited
  • 2004Operating performance following dividend decreases and omissions91 cited