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Corporate Policies with Permanent and Transitory Shocks
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Corporate Policies with Permanent and Transitory Shocks (2016)Corporate Policies with Permanent and Tra…Consumption Inequality and Partial Insurance (2008)Consumption Inequality and Pa…Do Tests of Capital Structure Theory Mean What They Say? (2007)Do Tests of Capital Structure…Bank Lines of Credit in Corporate Finance: An Empirical Analysis (2007)Bank Lines of Credit in Corpo…Consumption and Portfolio Choice over the Life Cycle (2005)Consumption and Portfolio Cho…The Cash Flow Sensitivity of Cash (2004)The Cash Flow Sensitivity of …Short-Term Variations and Long-Term Dynamics in Commodity Prices (2000)Short-Term Variations and Lon…The determinants and implications of corporate cash holdings (1999)The determinants and implicat…Agency Costs, Risk Management, and Capital Structure (1998)Agency Costs, Risk Management…Who Manages Risk? An Empirical Examination of Risk Management Practices in the Gold Mining Industry (1996)Who Manages Risk? An Empirica…Market microstructure and asset pricing: On the compensation for illiquidity in stock returns (1996)Market microstructure and ass…Investment Under Uncertainty. (1994)Investment Under Uncertainty.Investment under Uncertainty (1994)Investment under UncertaintyA Unified Model of Investment Under Uncertainty (1993)A Unified Model of Investment…Estimating the components of the bid/ask spread (1988)Estimating the components of …The Value of Waiting to Invest (1982)The Value of Waiting to InvestA new approach to decomposition of economic time series into permanent and transitory components with particular attention to measurement of the ‘business cycle’ (1981)A new approach to decompositi…Self-Harming Trade Policy? Protectionism and Production Networks (2023)Self-Harming Trade Policy? Pr…Effectiveness of monitoring, managerial entrenchment, and corporate cash holdings (2022)Effectiveness of monitoring, …Optimal Short-Termism (2021)Optimal Short-TermismForeign investment of US multinationals: The effect of tax policy and agency conflicts. (2021)Foreign investment of US mult…Does economic growth affect the relationship between banks' capital, liquidity and profitability: empirical evidence from emerging economies (2021)Does economic growth affect t…Dynamic Banking and the Value of Deposits (2020)Dynamic Banking and the Value…Corporate Debt Maturity and Investment Over the Business Cycle (2020)Corporate Debt Maturity and I…Payout policy, financial flexibility, and agency costs of free cash flow (2019)Payout policy, financial flex…Investment under uncertainty with financial constraints (2019)Investment under uncertainty …Agency conflicts and short- versus long-termism in corporate policies (2019)Agency conflicts and short- v…Interest Rate Risk Management in Uncertain Times (2018)Interest Rate Risk Management…Real options in finance (2017)Real options in financeInvestment under Uncertainty with Financial Constraints (2014)Investment under Uncertainty …Payout Policy, Financial Flexibility, and Agency Costs of Free Cash Flow (2008)Payout Policy, Financial Flex…A Theory of the Consumption Function (1960)Optimal Properties of Exponentially Weighted Forecasts (1960)Time Series Analysis: Forecasting and Control (1977)Trends and random walks in macroeconmic time series (1982)A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle (1989)A Simple Estimator of Cointegrating Vectors in Higher Order Integrated Systems (1993)Capital Theory and Investment Behavior (1963)Option pricing when underlying stock returns are discontinuous (1976)Irreversibility, Uncertainty, and Cyclical Investment (1980)Conditional Heteroskedasticity in Asset Returns: A New Approach (1991)Joint Ventures and the Option to Expand and Acquire (1991)Operating Flexibility, Global Manufacturing, and the Option Value of a Multinational Network (1994)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Bid, ask and transaction prices in a specialist market with heterogeneously informed traders (1985)Continuous Auctions and Insider Trading (1985)Alternative factor specifications, security characteristics, and the cross-section of expected stock returns1We are especially grateful to Eugene Fama (a referee), an anonymous referee and Bill Schwert (the editor) for insightful and constructive suggestions. We also thank Wayne Ferson, Ken French, Will Goetzmann, Craig Holden, Ravi Jagannathan, Bob Jennings, Bruce Lehmann, Josef Lakonishok, Richard Roll, participants at the 1997 Meetings of the Western Finance Association, the 1997 UCLA/USC/UC Irvine conference, the November 1997 Asset Pricing Meeting of the National Bureau of Economic Research, the Atlanta Forum, and seminars at Columbia, Indiana, Florida, New York, Tulane, and Yale Universities; Eugene Fama and Ken French for providing part of the data used in this study; and Christoph Schenzler for excellent programming assistance. The second author acknowledges support from the Dean's Fund for Research and the Financial Markets Research Center at Vanderbilt University. We are responsible for remaining errors. This paper was formerly titled `A Re-Examination of Security Return Anomalies'.1 (1998)Liquidity and stock returns: An alternative test (1998)Saving and Liquidity Constraints (1991)Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis (1997)Consumption Over the Life Cycle (2002)Portfolio Choice in the Presence of Housing (2004)Cognitive Ability and Portfolio Choice (2010)Financial Literacy, Retirement Planning and Household Wealth (2012)Risk, Return, and Equilibrium: Empirical Tests (1973)Common risk factors in the returns on stocks and bonds (1993)Liquidity, Information, and Infrequently Traded Stocks (1996)Commonality in liquidity (2000)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Pricing of Options and Corporate Liabilities (1973)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Term Structures of Credit Spreads with Incomplete Accounting Information (2001)Capital Structure and Stock Returns (2004)Environmental risk management and the cost of capital (2008)The General Theory of Employment, Interest and Money. (1936)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)The theory and practice of corporate finance: evidence from the field (2001)Why Do U.S. Firms Hold So Much More Cash than They Used To? (2009)New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)Corporate social responsibility and access to finance (2013)Corporate financing and investment decisions when firms have information that investors do not have (1984)The Stochastic Behavior of Commodity Prices: Implications for Valuation and Hedging (1997)The Value Premium (2005)Policy Uncertainty and Corporate Investment (2015)Capital markets research in accounting (2001)
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References

  • 1994Investment Under Uncertainty.9,497 cited
  • 1994Investment under Uncertainty9,016 cited
  • 1999The determinants and implications of corporate cash holdings3,910 cited
  • 1982The Value of Waiting to Invest3,606 cited
  • 2004The Cash Flow Sensitivity of Cash3,523 cited
  • 1981A new approach to decomposition of economic time series into permanent and transitory components with particular attention to measurement of the ‘business cycle’2,308 cited
  • 1988Estimating the components of the bid/ask spread1,612 cited
  • 1996Market microstructure and asset pricing: On the compensation for illiquidity in stock returns1,555 cited
  • 2005Consumption and Portfolio Choice over the Life Cycle1,544 cited
  • 1998Agency Costs, Risk Management, and Capital Structure1,495 cited
  • 1996Who Manages Risk? An Empirical Examination of Risk Management Practices in the Gold Mining Industry1,432 cited
  • 2000Short-Term Variations and Long-Term Dynamics in Commodity Prices1,098 cited
  • 2008Consumption Inequality and Partial Insurance983 cited
  • 1993A Unified Model of Investment Under Uncertainty970 cited
  • 2007Do Tests of Capital Structure Theory Mean What They Say?965 cited

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  • 2007Bank Lines of Credit in Corporate Finance: An Empirical Analysis961 cited
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    • 2014Investment under Uncertainty with Financial Constraints38 cited
    • 2021Does economic growth affect the relationship between banks' capital, liquidity and profitability: empirical evidence from emerging economies35 cited
    • 2020Dynamic Banking and the Value of Deposits29 cited
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    • 2022Effectiveness of monitoring, managerial entrenchment, and corporate cash holdings19 cited