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Corporate Governance and Equity Prices
15 references·16 citing·36 second hopsampled
Corporate Governance and Equity Prices (2001)Corporate Governance and Equity PricesInvestor Protection and Corporate Valuation (2002)Investor Protection and Corpo…Corporate Governance and Merger Activity in the United States: Making Sense of the 1980s and 1990s (2001)Corporate Governance and Merg…Glamour, value and the post-acquisition performance of acquiring firms (1998)Glamour, value and the post-a…Do Long-Term Shareholders Benefit From Corporate Acquisitions? (1997)Do Long-Term Shareholders Ben…Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)Do Investment-Cash Flow Sensi…Higher market valuation of companies with a small board of directors (1996)Higher market valuation of co…Agency costs of free cash flow, corporate finance, and takeovers (1996)Agency costs of free cash flo…Diversification's effect on firm value (1995)Diversification's effect on f…Tobin's q, Corporate Diversification, and Firm Performance (1994)Tobin's q, Corporate Diversif…The Effects of Board Composition and Direct Incentives on Firm Performance (1991)The Effects of Board Composit…A test of the free cash flow hypothesis (1991)A test of the free cash flow …Management ownership and market valuation (1988)Management ownership and mark…Corporate Governance and the Board of Directors: Performance Effects of Changes in Board Composition (1985)Corporate Governance and the …The market for corporate control (1983)The market for corporate cont…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Investmentless Growth: An Empirical Investigation (2017)Investmentless Growth: An Emp…Investment-less Growth: An Empirical Investigation (2016)Investment-less Growth: An Em…Do Managers Do Good with Other People's Money? (2013)Do Managers Do Good with Othe…The Impact of Corporate Sustainability on Organizational Processes and Performance (2012)The Impact of Corporate Susta…Behavioral Corporate Finance: An Updated Survey (2011)Behavioral Corporate Finance:…Stronger Risk Controls, Lower Risk: Evidence from U.S. Bank Holding Companies (2010)Stronger Risk Controls, Lower…Corporate‐Governance Ratings and Company Performance: A Cross‐European Study (2010)Corporate‐Governance Ratings …Superstar CEOs * (2009)Superstar CEOs *Earnings Management, Corporate Tax Shelters, and Book-Tax Alignment (2009)Earnings Management, Corporat…The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey (2008)The Role of Boards of Directo…Why Has CEO Pay Increased So Much? (2006)Why Has CEO Pay Increased So …Inside the Family Firm: The Role of Families in Succession Decisions and Performance (2006)Inside the Family Firm: The R…How has CEO Turnover Changed? Increasingly Performance Sensitive Boards and Increasingly Uneasy CEOs (2006)How has CEO Turnover Changed?…Corporate Governance and Development (2006)Corporate Governance and Deve…Corporate Governance and Control (2002)Corporate Governance and Cont…Corporate Governance and Control (2002)Corporate Governance and Cont…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Agency Problems and the Theory of the Firm (1980)Separation of Ownership and Control (1983)Corporate Ownership Around the World (1999)Specification Tests in Econometrics (1978)Audit committee, board of director characteristics, and earnings management (2002)Corporate Governance and Equity Prices (2003)Determinants of corporate borrowing (1977)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Digital Business Strategy: Toward a Next Generation of Insights (2013)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)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)Corporate financing and investment decisions when firms have information that investors do not have (1984)The Financial Accelerator in a Quantitative Business Cycle Framework (1998)Managing with Style: The Effect of Managers on Firm Policies (2003)New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)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)Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Agency Theory: An Assessment and Review (1989)The Nature of the Firm (1937)Financing Constraints and Corporate Investment (1987)The Cross-Section of Expected Stock Returns (1992)Enjoying the Quiet Life? Corporate Governance and Managerial Preferences (2003)A Survey of Corporate Governance (1997)Law and Finance (1998)Disentangling the Incentive and Entrenchment Effects of Large Shareholdings (2002)The ultimate ownership of Western European corporations (2002)Law, finance, and economic growth in China (2005)Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500 (2003)
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References

  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1996Agency costs of free cash flow, corporate finance, and takeovers9,308 cited
  • 1988Management ownership and market valuation6,910 cited
  • 1997Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?6,790 cited
  • 1996Higher market valuation of companies with a small board of directors6,614 cited
  • 1983The market for corporate control4,145 cited
  • 2002Investor Protection and Corporate Valuation4,055 cited
  • 1995Diversification's effect on firm value3,069 cited
  • 1994Tobin's q, Corporate Diversification, and Firm Performance2,437 cited
  • 1991The Effects of Board Composition and Direct Incentives on Firm Performance2,312 cited
  • 1985Corporate Governance and the Board of Directors: Performance Effects of Changes in Board Composition1,742 cited
  • 1991A test of the free cash flow hypothesis1,068 cited
  • 1998Glamour, value and the post-acquisition performance of acquiring firms1,067 cited
  • 1997Do Long-Term Shareholders Benefit From Corporate Acquisitions?875 cited
  • 2001Corporate Governance and Merger Activity in the United States: Making Sense of the 1980s and 1990s

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  • 2009Superstar CEOs *715 cited
  • 2012The Impact of Corporate Sustainability on Organizational Processes and Performance651 cited
  • 2006Corporate Governance and Development299 cited
  • 2016Investment-less Growth: An Empirical Investigation286 cited
  • 2006Why Has CEO Pay Increased So Much?276 cited
  • 2010Corporate‐Governance Ratings and Company Performance: A Cross‐European Study273 cited
  • 2009Earnings Management, Corporate Tax Shelters, and Book-Tax Alignment256 cited
  • 2002Corporate Governance and Control252 cited
  • 2006How has CEO Turnover Changed? Increasingly Performance Sensitive Boards and Increasingly Uneasy CEOs232 cited
  • 2013Do Managers Do Good with Other People's Money?227 cited
  • 2010Stronger Risk Controls, Lower Risk: Evidence from U.S. Bank Holding Companies205 cited
  • 2008The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey204 cited
  • 2002Corporate Governance and Control198 cited
  • 2017Investmentless Growth: An Empirical Investigation191 cited
  • 2011Behavioral Corporate Finance: An Updated Survey187 cited