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FCF agency costs, earnings management, and investor monitoring
16 references·7 citing·36 second hop
FCF agency costs, earnings management, and investor monitoring (2005)FCF agency costs, earnings management, an…Corporate Cash Reserves and Acquisitions (1999)Corporate Cash Reserves and A…The Influence of Institutional Investors on Myopic R&D Investment Behavior (1998)The Influence of Institutiona…The Effect of Audit Quality on Earnings Management* (1998)The Effect of Audit Quality o…Large Shareholders as Monitors: Is There a Trade‐Off between Liquidity and Control? (1998)Large Shareholders as Monitor…Earnings Management and the Long‐Run Market Performance of Initial Public Offerings (1998)Earnings Management and the L…Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders (1996)Firm Performance and Mechanis…Agency costs of free cash flow, corporate finance, and takeovers (1996)Agency costs of free cash flo…Detecting Earnings Management. (1995)Detecting Earnings Management.A Simple Approximation of Tobin's q (1994)A Simple Approximation of Tob…The investment opportunity set and corporate financing, dividend, and compensation policies (1992)The investment opportunity se…Earnings Management During Import Relief Investigations (1991)Earnings Management During Im…Managerial discretion and optimal financing policies (1990)Managerial discretion and opt…Additional evidence on equity ownership and corporate value (1990)Additional evidence on equity…Large Shareholders and Corporate Control (1986)Large Shareholders and Corpor…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 impact of cost stickiness on financial reporting: evidence from income smoothing (2022)The impact of cost stickiness…Corporate governance and agency theory: Megacable case (2018)Corporate governance and agen…Pengaruh Investment Opportunity Set dan Free Cash Flow Pada Kebijakan Dividen dan Nilai Perusahaan (2017)Pengaruh Investment Opportuni…The impact of free cash flows and agency costs on firm performance — An empirical analysis of KSE listed companies of Pakistan (2014)The impact of free cash flows…PENGARUH CASH FLOW PADA KINERJA KEUANGAN DAN IMPLIKASINYA PADA NILAI PERUSAHAAN MANUFAKTUR (2014)PENGARUH CASH FLOW PADA KINER…Strategic revelation of differences in segment earnings growth (2011)Strategic revelation of diffe…Determinants of sell‐side financial analysts’ use of non‐financial information (2010)Determinants of sell‐side fin…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Higher market valuation of companies with a small board of directors (1996)A Survey of Corporate Governance (1997)Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500 (2003)Corporate Forecasts of Earnings Per Share and Stock Price Behavior: Empirical Test (1976)The economic implications of corporate financial reporting (2005)Determinants of corporate borrowing (1977)Corporate financing and investment decisions when firms have information that investors do not have (1984)Corporate governance, chief executive officer compensation, and firm performance (1999)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)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)Mergers and the Market for Corporate Control (1965)Takeover Bids, The Free-Rider Problem, and the Theory of the Corporation (1980)Law and Finance (1998)Corporate Ownership Around the World (1999)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)What Do We Know about Capital Structure? Some Evidence from International Data (1995)The Nature of the Firm (1937)The Pricing of Options and Corporate Liabilities (1973)Separation of Ownership and Control (1983)Earnings management and investor protection: an international comparison (2003)Earnings Management through Real Activities Manipulation (2003)Performance matched discretionary accrual measures (2005)Audit committee, board of director characteristics, and earnings management (2002)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)A review of archival auditing research (2014)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Firms, Contracts, and Financial Structure (1995)
this work references cited by second hop

References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1996Agency costs of free cash flow, corporate finance, and takeovers9,308 cited
  • 1986Large Shareholders and Corporate Control8,403 cited
  • 1991Earnings Management During Import Relief Investigations8,369 cited
  • 1995Detecting Earnings Management.6,532 cited
  • 1990Additional evidence on equity ownership and corporate value4,311 cited
  • 1990Managerial discretion and optimal financing policies3,679 cited
  • 1992The investment opportunity set and corporate financing, dividend, and compensation policies3,591 cited
  • 1998The Effect of Audit Quality on Earnings Management*3,243 cited
  • 1998The Influence of Institutional Investors on Myopic R&D Investment Behavior3,013 cited
  • 1996Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders2,809 cited
  • 1994A Simple Approximation of Tobin's q2,458 cited
  • 1998Earnings Management and the Long‐Run Market Performance of Initial Public Offerings2,300 cited
  • 1999Corporate Cash Reserves and Acquisitions2,066 cited

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  • 1998Large Shareholders as Monitors: Is There a Trade‐Off between Liquidity and Control?1,453 cited
  • Cited by

    • 2010Determinants of sell‐side financial analysts’ use of non‐financial information71 cited
    • 2017Pengaruh Investment Opportunity Set dan Free Cash Flow Pada Kebijakan Dividen dan Nilai Perusahaan44 cited
    • 2011Strategic revelation of differences in segment earnings growth40 cited
    • 2018Corporate governance and agency theory: Megacable case30 cited
    • 2022The impact of cost stickiness on financial reporting: evidence from income smoothing29 cited
    • 2014The impact of free cash flows and agency costs on firm performance — An empirical analysis of KSE listed companies of Pakistan27 cited
    • 2014PENGARUH CASH FLOW PADA KINERJA KEUANGAN DAN IMPLIKASINYA PADA NILAI PERUSAHAAN MANUFAKTUR21 cited