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Financially Constrained Stock Returns
16 references·4 citing·37 second hopsampled
Financially Constrained Stock Returns (2006)Financially Constrained Stock ReturnsFinancial Constraints Risk (2006)Financial Constraints RiskRisks for the Long Run: A Potential Resolution of Asset Pricing Puzzles (2000)Risks for the Long Run: A Pot…The Financial Accelerator in a Quantitative Business Cycle Framework (1998)The Financial Accelerator in …Numerical Methods in Economics (1998)Numerical Methods in EconomicsDo Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)Do Investment-Cash Flow Sensi…What Do We Know about Capital Structure? Some Evidence from International Data (1995)What Do We Know about Capital…Size and Book-to-Market Factors in Earnings and Returns (1995)Size and Book-to-Market Facto…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…The investment opportunity set and corporate financing, dividend, and compensation policies (1992)The investment opportunity se…The Cross-Section of Expected Stock Returns (1992)The Cross-Section of Expected…Liquidation Values and Debt Capacity: A Market Equilibrium Approach (1992)Liquidation Values and Debt C…The Determinants of Capital Structure Choice (1988)The Determinants of Capital S…Agency Costs, Net Worth, And Business Fluctuations (1988)Agency Costs, Net Worth, And …Financing Constraints and Corporate Investment (1987)Financing Constraints and Cor…Time to Build and Aggregate Fluctuations (1982)Time to Build and Aggregate F…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Mathematical Modeling for Financial Analysis of an Enterprise: Motivating of Not Open Innovation (2021)Mathematical Modeling for Fin…Options, equity risks, and the value of capital structure adjustments (2016)Options, equity risks, and th…Financial Leverage, Corporate Investment and Stock Returns (2010)Financial Leverage, Corporate…Book-to-Market Equity, Financial Leverage and the Cross-Section of Stock Returns (2010)Book-to-Market Equity, Financ…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)The Science of Monetary Policy: A New Keynesian Perspective (1999)An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area (2003)Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach (2007)Moral Hazard and Observability (1979)Optimal contracts and competitive markets with costly state verification (1979)Theory ahead of business-cycle measurement (1986)Market Liquidity and Funding Liquidity (2008)Deciphering the Liquidity and Credit Crunch 2007–2008 (2009)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)On Persistence in Mutual Fund Performance (1997)Illiquidity and stock returns: cross-section and time-series effects (2002)A five-factor asset pricing model (2014)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)Significance tests and goodness of fit in the analysis of covariance structures. (1980)Corporate financing and investment decisions when firms have information that investors do not have (1984)Firms, Contracts, and Financial Structure (1995)A Survey of Corporate Governance (1997)The theory and practice of corporate finance: evidence from the field (2001)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Managing with Style: The Effect of Managers on Firm Policies (2003)New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)Aggregate Dynamics and Staggered Contracts (1980)Macroeconomics and Reality (1980)Tobin's Marginal q and Average q: A Neoclassical Interpretation (1982)The equity premium: A puzzle (1985)Production, growth and business cycles (1988)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Credit Rationing in Markets with Imperfect Information (1981)Agency costs of free cash flow, corporate finance, and takeovers (1996)Threshold effects in non-dynamic panels: Estimation, testing, and inference (1999)Law and Finance (1998)Corporate Ownership Around the World (1999)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1992The Cross-Section of Expected Stock Returns17,251 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1997Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?6,790 cited
  • 1995What Do We Know about Capital Structure? Some Evidence from International Data6,527 cited
  • 1988The Determinants of Capital Structure Choice6,108 cited
  • 1982Time to Build and Aggregate Fluctuations5,933 cited
  • 1998The Financial Accelerator in a Quantitative Business Cycle Framework4,624 cited
  • 1988Agency Costs, Net Worth, And Business Fluctuations4,382 cited
  • 1987Financing Constraints and Corporate Investment4,354 cited
  • 2000Risks for the Long Run: A Potential Resolution of Asset Pricing Puzzles4,249 cited
  • 2006Financial Constraints Risk3,702 cited
  • 1992The investment opportunity set and corporate financing, dividend, and compensation policies3,591 cited
  • 1995Size and Book-to-Market Factors in Earnings and Returns3,456 cited
  • 1992Liquidation Values and Debt Capacity: A Market Equilibrium Approach2,901 cited

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  • 1998Numerical Methods in Economics2,587 cited
  • Cited by

    • 2010Financial Leverage, Corporate Investment and Stock Returns31 cited
    • 2021Mathematical Modeling for Financial Analysis of an Enterprise: Motivating of Not Open Innovation27 cited
    • 2010Book-to-Market Equity, Financial Leverage and the Cross-Section of Stock Returns22 cited
    • 2016Options, equity risks, and the value of capital structure adjustments15 cited