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Cross-Listing, Investment Sensitivity to Stock Price, and the Learning Hypothesis
16 references·16 citing·39 second hopsampled
Cross-Listing, Investment Sensitivity to Stock Price, and the Learning Hypothesis (2012)Cross-Listing, Investment Sensitivity to …New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)New Evidence on Measuring Fin…Does governance travel around the world? Evidence from institutional investors (2010)Does governance travel around…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…Financial Constraints Risk (2006)Financial Constraints RiskR2 around the world: New theory and new tests☆ (2005)R2 around the world: New theo…Why are foreign firms listed in the U.S. worth more? (2003)Why are foreign firms listed …Market Timing and Capital Structure (2002)Market Timing and Capital Str…The investment behavior and performance of various investor types: a study of Finland's unique data set (2000)The investment behavior and p…Financial markets and the allocation of capital (2000)Financial markets and the all…Legal Determinants of External Finance (1997)Legal Determinants of Externa…Legal Determinants of External Finance (1997)Legal Determinants of Externa…Financial Dependence and Growth (1996)Financial Dependence and Grow…Financing Constraints and Corporate Investment (1988)Financing Constraints and Cor…Financing Constraints and Corporate Investment (1987)Financing Constraints and Cor…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…The Real Effects of Modern Information Technologies: Evidence from the EDGAR Implementation (2023)The Real Effects of Modern In…Information in Financial Markets and Its Real Effects (2022)Information in Financial Mark…Capital market opening and green innovation——Evidence from Shanghai-Hong Kong stock connect and the Shenzhen-Hong Kong stock connect (2022)Capital market opening and gr…The Effect of Tick Size on Managerial Learning from Stock Prices (2020)The Effect of Tick Size on Ma…Should I Stay or Should I Grow? Using Voluntary Disclosure to Elicit Market Feedback (2019)Should I Stay or Should I Gro…Does the stock market make firms more productive? (2019)Does the stock market make fi…CEO-director ties and labor investment efficiency (2019)CEO-director ties and labor i…The Economic Impact of Index Investing (2018)The Economic Impact of Index …Learning from directors' foreign board experiences (2018)Learning from directors' fore…Is Silence Golden? Real Effects of Mandatory Disclosure (2018)Is Silence Golden? Real Effec…The source of information in prices and investment-price sensitivity (2017)The source of information in …The real effects of capital controls: Firm-level evidence from a policy experiment (2017)The real effects of capital c…The informational feedback effect of stock prices on management forecasts (2016)The informational feedback ef…Does stock price informativeness affect labor investment efficiency? (2016)Does stock price informativen…Corporate governance, agency problems and international cross-listings: A defense of the bonding hypothesis (2012)Corporate governance, agency …Cash Savings and Stock Price Informativeness (2011)Cash Savings and Stock Price …What Do We Know about Capital Structure? Some Evidence from International Data (1995)A Survey of Corporate Governance (1997)Corporate Ownership Around the World (1999)Investor protection and corporate governance (2000)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)The determinants and implications of corporate cash holdings (1999)Corporate social responsibility and access to finance (2013)The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research (2016)Demand for green finance: Resolving financing constraints on green innovation in China (2021)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Credit Rationing in Markets with Imperfect Information (1981)A Contribution to the Empirics of Economic Growth (1992)Financial intermediation and growth: Causality and causes (2000)Finance and Growth: Theory and Evidence (2004)Law, finance, and economic growth in China (2005)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)On Persistence in Mutual Fund Performance (1997)Agency costs of free cash flow, corporate finance, and takeovers (1996)The Financial Accelerator in a Quantitative Business Cycle Framework (1998)Common risk factors in the returns on stocks and bonds (1993)… and the Cross-Section of Expected Returns (2015)Policy Uncertainty and Corporate Investment (2015)Corporate financing and investment decisions when firms have information that investors do not have (1984)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Capital Structure Decisions: Which Factors Are Reliably Important? (2007)Does Corporate Social Responsibility Affect the Cost of Capital? (2010)Law and Finance (1998)The Economic Consequences of Legal Origins (2008)Women on Boards and Firm Financial Performance: A Meta-Analysis (2014)Do institutional investors drive corporate social responsibility? International evidence (2018)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)The Benefits of Lending Relationships: Evidence from Small Business Data (1994)Threshold effects in non-dynamic panels: Estimation, testing, and inference (1999)
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References

  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 2008Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches10,793 cited
  • 1997Legal Determinants of External Finance9,776 cited
  • 1996Financial Dependence and Growth8,055 cited
  • 2010New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index5,574 cited
  • 1988Financing Constraints and Corporate Investment5,566 cited
  • 1987Financing Constraints and Corporate Investment4,354 cited
  • 2002Market Timing and Capital Structure3,804 cited
  • 2006Financial Constraints Risk3,702 cited
  • 2008The law and economics of self-dealing3,514 cited
  • 2005R2 around the world: New theory and new tests☆2,833 cited
  • 1997Legal Determinants of External Finance2,032 cited
  • 2000Financial markets and the allocation of capital1,972 cited
  • 2010Does governance travel around the world? Evidence from institutional investors1,642 cited
  • 2000The investment behavior and performance of various investor types: a study of Finland's unique data set1,639 cited
  • 2003Why are foreign firms listed in the U.S. worth more?

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