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Corporate Cash Holdings and Tax‐induced Debt Financing
16 references·2 citing·33 second hop
Corporate Cash Holdings and Tax‐induced Debt Financing (2008)Corporate Cash Holdings and Tax‐induced D…The cost of capital, corporation finance and the theory of investment (2008)The cost of capital, corporat…The theory and practice of corporate finance: evidence from the field (2001)The theory and practice of co…Agency costs of free cash flow, corporate finance, and takeovers (1996)Agency costs of free cash flo…The Determinants of Capital Structure Choice (1988)The Determinants of Capital S…Management ownership and market valuation (1988)Management ownership and mark…Financing Constraints and Corporate Investment (1988)Financing Constraints and Cor…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…The Capital Structure Puzzle (1984)The Capital Structure PuzzleFinancial Intermediation and Delegated Monitoring (1984)Financial Intermediation and …Corporate financing and investment decisions when firms have information that investors do not have (1984)Corporate financing and inves…Agency Problems and the Theory of the Firm (1980)Agency Problems and the Theor…Determinants of corporate borrowing (1977)Determinants of corporate bor…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Cost of Capital, Corporat…The General Theory of Employment (1937)The General Theory of Employm…How do Chinese firms adjust their financial leverage: an empirical investigation using multiple GMM models (2017)How do Chinese firms adjust t…Cash Holdings and Firm Characteristics: Evidence from UK Market (2015)Cash Holdings and Firm Charac…Dividend Policy, Growth, and the Valuation of Shares (1961)A Survey of Corporate Governance (1997)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)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)The arbitrage theory of capital asset pricing (1976)Moral Hazard and Observability (1979)Bank Runs, Deposit Insurance, and Liquidity (1983)The Benefits of Lending Relationships: Evidence from Small Business Data (1994)Financial intermediation and growth: Causality and causes (2000)The General Theory of Employment, Interest and Money, by John Maynard Keynes (1936)The Theory of Investment Value, by John Burr Williams (1939)DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)Law and Finance (1998)The Nature of the Firm (1937)Mergers and the Market for Corporate Control (1965)Separation of Ownership and Control (1983)Dynamic capabilities and strategic management (1997)GROWTH, BETA AND AGENCY COSTS AS DETERMINANTS OF DIVIDEND PAYOUT RATIOS (1982)Two Agency-Cost Explanations of Dividends (1984)Corporate performance and managerial remuneration (1985)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)What Do We Know about Capital Structure? Some Evidence from International Data (1995)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)The Pricing of Options and Corporate Liabilities (1973)An Integrative Model Of Organizational Trust (1995)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1984Corporate financing and investment decisions when firms have information that investors do not have18,936 cited
  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1958The Cost of Capital, Corporation Finance and the Theory of Investment14,575 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1977Determinants of corporate borrowing13,160 cited
  • 1980Agency Problems and the Theory of the Firm10,540 cited
  • 1996Agency costs of free cash flow, corporate finance, and takeovers9,308 cited
  • 2008The cost of capital, corporation finance and the theory of investment8,614 cited
  • 1984Financial Intermediation and Delegated Monitoring8,489 cited
  • 1984The Capital Structure Puzzle7,520 cited
  • 1988Management ownership and market valuation6,910 cited
  • 1988The Determinants of Capital Structure Choice6,108 cited
  • 2001The theory and practice of corporate finance: evidence from the field5,947 cited
  • 1988Financing Constraints and Corporate Investment5,566 cited

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  • 1937The General Theory of Employment5,253 cited
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    • 2015Cash Holdings and Firm Characteristics: Evidence from UK Market13 cited
    • 2017How do Chinese firms adjust their financial leverage: an empirical investigation using multiple GMM models12 cited