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Evidence on the Impact of Exchange Offers on Security Prices: The Case of Income Bonds
16 references·5 citing·31 second hop
Evidence on the Impact of Exchange Offers on Security Prices: The Case of Income Bonds (1981)Evidence on the Impact of Exchange Offers…The Adjustment of Stock Prices to New Information (2003)The Adjustment of Stock Price…The effects of capital structure change on security prices (1980)The effects of capital struct…Measuring security price performance (1980)Measuring security price perf…A MEAN‐VARIANCE THEORY OF OPTIMAL CAPITAL STRUCTURE AND CORPORATE DEBT CAPACITY (1978)A MEAN‐VARIANCE THEORY OF OPT…The Determination of Financial Structure: The Incentive-Signalling Approach (1977)The Determination of Financia…Foundations of Finance. (1977)Foundations of Finance.Determinants of corporate borrowing (1977)Determinants of corporate bor…DEBT AND TAXES* (1977)DEBT AND TAXES*Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…A Theory of Optimal Capital Structure (1976)A Theory of Optimal Capital S…Special Information and Insider Trading (1974)Special Information and Insid…Risk and return: The case of merging firms (1974)Risk and return: The case of …Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…A STATE‐PREFERENCE MODEL OF OPTIMAL FINANCIAL LEVERAGE (1973)A STATE‐PREFERENCE MODEL OF O…Capital Market Equilibrium with Restricted Borrowing (1972)Capital Market Equilibrium wi…CORPORATE INCOME TAXES AND THE COST OF CAPITAL: A CORRECTION (1963)CORPORATE INCOME TAXES AND TH…Taxes, Capital Structure Choices, and Equity Value (2018)Taxes, Capital Structure Choi…The Free Cash Flow Theory of Takeovers: A Financial Perspective on Mergers and Acquisitions and the Economy (2003)The Free Cash Flow Theory of …Stock market reaction to sale and leaseback announcements in the UK (1996)Stock market reaction to sale…The Leverage Changing Consequences of Convertible Debt Financing (1987)The Leverage Changing Consequ…Equity for Debt Exchanges and Stockholder Wealth (1985)Equity for Debt Exchanges and…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Dividend Policy, Growth, and the Valuation of Shares (1961)Corporate financing and investment decisions when firms have information that investors do not have (1984)The Capital Structure Puzzle (1984)A Survey of Corporate Governance (1997)An Empirical Evaluation of Accounting Income Numbers (1968)The Adjustment of Stock Prices to New Information (1969)Using daily stock returns (1985)Event Studies in Economics and Finance (1997)Introductory Econometrics for Finance (2008)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)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)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure (1979)The Determinants of Firms' Hedging Policies (1985)The cost of capital, corporation finance and the theory of investment (2008)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)The Nature of the Firm (1937)The Pricing of Options and Corporate Liabilities (1973)Separation of Ownership and Control (1983)Law and Finance (1998)The theory and practice of corporate finance: evidence from the field (2001)The arbitrage theory of capital asset pricing (1976)The Cross-Section of Expected Stock Returns (1992)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Efficient Capital Markets: II (1991)Asset pricing and the bid-ask spread (1986)Theory of Financial Decision Making. (1988)The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States (2013)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1977Determinants of corporate borrowing13,160 cited
  • 1963CORPORATE INCOME TAXES AND THE COST OF CAPITAL: A CORRECTION5,951 cited
  • 1977The Determination of Financial Structure: The Incentive-Signalling Approach4,163 cited
  • 1980Measuring security price performance3,330 cited
  • 1972Capital Market Equilibrium with Restricted Borrowing3,097 cited
  • 2003The Adjustment of Stock Prices to New Information3,063 cited
  • 1977DEBT AND TAXES*2,896 cited
  • 1973A STATE‐PREFERENCE MODEL OF OPTIMAL FINANCIAL LEVERAGE2,598 cited
  • 1974Special Information and Insider Trading1,236 cited
  • 1977Foundations of Finance.1,128 cited
  • 1974Risk and return: The case of merging firms869 cited
  • 1976A Theory of Optimal Capital Structure666 cited
  • 1978A MEAN‐VARIANCE THEORY OF OPTIMAL CAPITAL STRUCTURE AND CORPORATE DEBT CAPACITY564 cited
  • 1980The effects of capital structure change on security prices

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Cited by

  • 2003The Free Cash Flow Theory of Takeovers: A Financial Perspective on Mergers and Acquisitions and the Economy29 cited
  • 1987The Leverage Changing Consequences of Convertible Debt Financing27 cited
  • 1985Equity for Debt Exchanges and Stockholder Wealth21 cited
  • 2018Taxes, Capital Structure Choices, and Equity Value18 cited
  • 1996Stock market reaction to sale and leaseback announcements in the UK18 cited