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Access to Equity Markets, Corporate Investments and Stock Returns: International Evidence
16 references·1 citing·28 second hop
Access to Equity Markets, Corporate Investments and Stock Returns: International Evidence (2010)Access to Equity Markets, Corporate Inves…The law and economics of self-dealing (2008)The law and economics of self…Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)Estimating Standard Errors in…What Works in Securities Laws? (2006)What Works in Securities Laws?CEO Overconfidence and Corporate Investment (2005)CEO Overconfidence and Corpor…Investor Protection and Corporate Valuation (2002)Investor Protection and Corpo…Culture's Consequences: Comparing Values, Behaviors, Institutions, and Organizations across Nations (2002)Culture's Consequences: Compa…Corporate Ownership Around the World (1999)Corporate Ownership Around th…Law and Finance (1998)Law and FinanceInvestor Psychology and Security Market Under‐ and Overreactions (1998)Investor Psychology and Secur…Measuring Mutual Fund Performance with Characteristic‐Based Benchmarks (1997)Measuring Mutual Fund Perform…Legal Determinants of External Finance (1997)Legal Determinants of Externa…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…The Cross-Section of Expected Stock Returns (1992)The Cross-Section of Expected…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…Culture's Consequences: International Differences in Work-Related Values. (1983)Culture's Consequences: Inter…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Accounting Accruals and Stock Returns: Evidence from European Equity Markets (2013)Accounting Accruals and Stock…What Do We Know about Capital Structure? Some Evidence from International Data (1995)A Survey of Corporate Governance (1997)Investor protection and corporate governance (2000)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)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)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)The Colonial Origins of Comparative Development: An Empirical Investigation (2001)Specification Tests in Econometrics (1978)Econometric Analysis of Cross Section and Panel Data (2001)Robust Standard Errors for Panel Regressions with Cross-Sectional Dependence (2007)Robust Inference With Multiway Clustering (2011)Policy Uncertainty and Corporate Investment (2015)Upper Echelons Theory: An Update (2007)The weirdest people in the world? (2010)Dimensionalizing Cultures: The Hofstede Model in Context (2011)Culture and the Self: Implications for Cognition, Emotion, and Motivation (1991)Universals in the Content and Structure of Values: Theoretical Advances and Empirical Tests in 20 Countries (1992)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)The separation of ownership and control in East Asian Corporations (2000)Earnings management and investor protection: an international comparison (2003)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 2002Culture's Consequences: Comparing Values, Behaviors, Institutions, and Organizations across Nations21,666 cited
  • 1998Law and Finance17,902 cited
  • 1992The Cross-Section of Expected Stock Returns17,251 cited
  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1983Culture's Consequences: International Differences in Work-Related Values.15,062 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 2008Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches10,793 cited
  • 1999Corporate Ownership Around the World10,565 cited
  • 1997Legal Determinants of External Finance9,776 cited
  • 1998Investor Psychology and Security Market Under‐ and Overreactions5,711 cited
  • 2002Investor Protection and Corporate Valuation4,055 cited
  • 2005CEO Overconfidence and Corporate Investment3,686 cited
  • 2008The law and economics of self-dealing3,514 cited
  • 1997Measuring Mutual Fund Performance with Characteristic‐Based Benchmarks2,844 cited
  • 2006

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What Works in Securities Laws?
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  • 2013Accounting Accruals and Stock Returns: Evidence from European Equity Markets24 cited