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Capital Structure, Staggered Boards, and Firm Value
16 references·16 citing·33 second hopsampled
Capital Structure, Staggered Boards, and Firm Value (2008)Capital Structure, Staggered Boards, and …Corporate Governance and Equity Prices (2003)Corporate Governance and Equi…The Non-Correlation Between Board Independence and Long-Term Firm Performance (2002)The Non-Correlation Between B…Corporate governance, chief executive officer compensation, and firm performance (1999)Corporate governance, chief e…Agency Problems and Dividend Policies Around the World (1998)Agency Problems and Dividend …Managerial Entrenchment and Capital Structure Decisions (1997)Managerial Entrenchment and C…The journal of financial economics (1993)The journal of financial econ…The Effects of Board Composition and Direct Incentives on Firm Performance (1991)The Effects of Board Composit…The Determinants of Capital Structure Choice (1988)The Determinants of Capital S…Managerial control of voting rights (1988)Managerial control of voting …Management ownership and market valuation (1988)Management ownership and mark…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 PuzzleThe Capital Structure Puzzle (1984)The Capital Structure PuzzleRisk Reduction as a Managerial Motive for Conglomerate Mergers (1981)Risk Reduction as a Manageria…Agency Problems and the Theory of the Firm (1980)Agency Problems and the Theor…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…ESG controversies, corporate governance, and the market for corporate control (2024)ESG controversies, corporate …The Effect of Capital Structure on Firm Value: A Study of Companies Listed on the Vietnamese Stock Market (2023)The Effect of Capital Structu…Carbon Emissions, Corporate Governance, and Staggered Boards (2022)Carbon Emissions, Corporate G…Impact of financial leverage on sustainable growth, market performance, and profitability (2021)Impact of financial leverage …Leverage and performance: do size and crisis matter? (2020)Leverage and performance: do …Does social capital influence corporate risk-taking? (2020)Does social capital influence…Application of capital structure theories: a systematic review (2020)Application of capital struct…PENGARUH TATA KELOLA PERUSAHAAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN SEKTOR KEUANGAN YANG TERDAFTAR DI BEI (2016)PENGARUH TATA KELOLA PERUSAHA…Ownership Structure and Capital Structure: A Study of Vietnamese Listed Firms (2016)Ownership Structure and Capit…Corporate Governance and Capital Structure: A Spanish Study (2016)Corporate Governance and Capi…How Do Powerful CEOs Affect Analyst Coverage? (2012)How Do Powerful CEOs Affect A…Exploring the Agency Cost of Debt: Evidence from the ISS Governance Standards (2012)Exploring the Agency Cost of …Classified boards, the cost of debt, and firm performance (2012)Classified boards, the cost o…Liquidity and capital structure: The case of Thailand (2010)Liquidity and capital structu…CEO Turnover in Private Equity Sponsored Leveraged Buyouts (2010)CEO Turnover in Private Equit…Staggered Boards, Managerial Entrenchment, and Dividend Policy (2009)Staggered Boards, Managerial …The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Corporate financing and investment decisions when firms have information that investors do not have (1984)What Do We Know about Capital Structure? Some Evidence from International Data (1995)The theory and practice of corporate finance: evidence from the field (2001)Separation of Ownership and Control (1983)Corporate Ownership Around the World (1999)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Higher market valuation of companies with a small board of directors (1996)Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature (2001)On the use of instrumental variables in accounting research (2009)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)Significance tests and goodness of fit in the analysis of covariance structures. (1980)Firms, Contracts, and Financial Structure (1995)The Nature of the Firm (1937)Mergers and the Market for Corporate Control (1965)Dynamic capabilities and strategic management (1997)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)The Theory of Capital Structure (1991)A Survey of Corporate Governance (1997)Law and Finance (1998)Investor protection and corporate governance (2000)Investor Protection and Corporate Valuation (2002)The Economic Consequences of Legal Origins (2008)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)How do family ownership, control and management affect firm value? (2005)How does financial reporting quality relate to investment efficiency? (2009)The Impact of Corporate Sustainability on Organizational Processes and Performance (2014)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)
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References

  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1980Agency Problems and the Theory of the Firm10,540 cited
  • 1984The Capital Structure Puzzle7,520 cited
  • 1988Management ownership and market valuation6,910 cited
  • 2003Corporate Governance and Equity Prices6,115 cited
  • 1988The Determinants of Capital Structure Choice6,108 cited
  • 1999Corporate governance, chief executive officer compensation, and firm performance4,334 cited
  • 1998Agency Problems and Dividend Policies Around the World3,179 cited
  • 1984The Capital Structure Puzzle3,151 cited
  • 1981Risk Reduction as a Managerial Motive for Conglomerate Mergers2,775 cited
  • 1993The journal of financial economics2,544 cited
  • 1988Managerial control of voting rights2,441 cited
  • 1991The Effects of Board Composition and Direct Incentives on Firm Performance2,312 cited
  • 1997Managerial Entrenchment and Capital Structure Decisions1,538 cited
  • 2002The Non-Correlation Between Board Independence and Long-Term Firm Performance

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  • 2023The Effect of Capital Structure on Firm Value: A Study of Companies Listed on the Vietnamese Stock Market86 cited
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  • 2021Impact of financial leverage on sustainable growth, market performance, and profitability83 cited
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  • 2020Application of capital structure theories: a systematic review64 cited
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  • 2020Leverage and performance: do size and crisis matter?53 cited
  • 2024ESG controversies, corporate governance, and the market for corporate control49 cited
  • 2016Corporate Governance and Capital Structure: A Spanish Study42 cited
  • 2012Exploring the Agency Cost of Debt: Evidence from the ISS Governance Standards36 cited
  • 2010CEO Turnover in Private Equity Sponsored Leveraged Buyouts35 cited
  • 2016Ownership Structure and Capital Structure: A Study of Vietnamese Listed Firms33 cited
  • 2020Does social capital influence corporate risk-taking?30 cited