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Leverage, debt maturity, and social capital
16 references·16 citing·31 second hopsampled
Leverage, debt maturity, and social capital (2018)Leverage, debt maturity, and social capit…Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)Estimating Standard Errors in…The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors (2002)The Quality of Accruals and E…Illiquidity and stock returns: cross-section and time-series effects (2002)Illiquidity and stock returns…Bowling alone: the collapse and revival of American community (2000)Bowling alone: the collapse a…Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)Do Investment-Cash Flow Sensi…Detecting Earnings Management. (1995)Detecting Earnings Management.Management ownership and market valuation (1988)Management ownership and mark…Large Shareholders and Corporate Control (1986)Large Shareholders and Corpor…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…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 Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)The Market for "Lemons": Qual…The role of environmental, social, and governance rating on corporate debt structure (2023)The role of environmental, so…Shaping corporate ESG performance: role of social trust in China's capital market (2023)Shaping corporate ESG perform…Corporate carbon performance and cost of debt: Evidence from Asia-Pacific countries (2023)Corporate carbon performance …Stakeholder preference and strategic corporate social responsibility (2022)Stakeholder preference and st…Social trust and firm innovation: Evidence from China (2022)Social trust and firm innovat…Environmental reputation and bank liquidity: Evidence from climate transition (2022)Environmental reputation and …Determinants and consequences of debt maturity structure: A systematic review of the international literature (2022)Determinants and consequences…Consequences of local social norms: A review of the literature in accounting, finance, and corporate governance (2022)Consequences of local social …Societal trust and corporate risk-taking: International evidence (2021)Societal trust and corporate …Oil price uncertainty and corporate debt maturity structure (2021)Oil price uncertainty and cor…Leverage, competition and financial distress hazard: Implications for capital structure in the presence of agency costs (2021)Leverage, competition and fin…Effective innovation via better management of firms: The role of leverage in times of crisis (2021)Effective innovation via bett…The impact of social capital on economic attitudes and outcomes (2020)The impact of social capital …Does geopolitical uncertainty affect corporate financing? Evidence from MIDAS regression (2020)Does geopolitical uncertainty…Do innovation-intensive firms mitigate their valuation uncertainty during bad times? (2020)Do innovation-intensive firms…Co-opted Boards, Social Capital, and Risk-taking (2020)Co-opted Boards, Social Capit…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)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)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)The Nature of the Firm (1937)The Pricing of Options and Corporate Liabilities (1973)Separation of Ownership and Control (1983)Editor's Choice Digesting Anomalies: An Investment ApproachThe 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)Liquidity Risk and Expected Stock Returns (2003)Asset pricing with liquidity risk (2005)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)Social Capital: Prospects for a New Concept (2002)Social Relationships and Mortality Risk: A Meta-analytic Review (2010)The weirdest people in the world? (2010)The Evolution of Cooperation (1981)The Resource-Based Theory of Competitive Advantage: Implications for Strategy Formulation (1991)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 2000Bowling alone: the collapse and revival of American community28,790 cited
  • 1970The Market for "Lemons": Quality Uncertainty and the Market Mechanism22,977 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
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1977Determinants of corporate borrowing13,160 cited
  • 2008Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches10,793 cited
  • 2002Illiquidity and stock returns: cross-section and time-series effects10,008 cited
  • 1986Large Shareholders and Corporate Control8,403 cited
  • 1984Financial Intermediation and Delegated Monitoring8,393 cited
  • 1984The Capital Structure Puzzle7,520 cited
  • 1988Management ownership and market valuation6,910 cited
  • 1997Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?6,790 cited
  • 1995Detecting Earnings Management.6,532 cited

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  • 2002The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors5,163 cited
  • Cited by

    • 2023The role of environmental, social, and governance rating on corporate debt structure123 cited
    • 2021Effective innovation via better management of firms: The role of leverage in times of crisis85 cited
    • 2020Does geopolitical uncertainty affect corporate financing? Evidence from MIDAS regression84 cited
    • 2020Do innovation-intensive firms mitigate their valuation uncertainty during bad times?77 cited
    • 2023Shaping corporate ESG performance: role of social trust in China's capital market73 cited
    • 2021Oil price uncertainty and corporate debt maturity structure57 cited
    • 2021Leverage, competition and financial distress hazard: Implications for capital structure in the presence of agency costs53 cited
    • 2020The impact of social capital on economic attitudes and outcomes49 cited
    • 2022Determinants and consequences of debt maturity structure: A systematic review of the international literature45 cited
    • 2023Corporate carbon performance and cost of debt: Evidence from Asia-Pacific countries42 cited
    • 2022Stakeholder preference and strategic corporate social responsibility40 cited
    • 2022Environmental reputation and bank liquidity: Evidence from climate transition35 cited
    • 2022Social trust and firm innovation: Evidence from China34 cited
    • 2022Consequences of local social norms: A review of the literature in accounting, finance, and corporate governance34 cited
    • 2021Societal trust and corporate risk-taking: International evidence33 cited
    • 2020Co-opted Boards, Social Capital, and Risk-taking28 cited