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High-speed rail construction and labor investment efficiency: Evidence from an emerging market
16 references·0 citing·42 second hop
High-speed rail construction and labor investment efficiency: Evidence from an emerging market (2022)High-speed rail construction and labor in…The real effects of financial constraints: Evidence from a financial crisis (2010)The real effects of financial…Big Bad Banks? The Winners and Losers from Bank Deregulation in the United States (2010)Big Bad Banks? The Winners an…On the use of instrumental variables in accounting research (2009)On the use of instrumental va…How does financial reporting quality relate to investment efficiency? (2009)How does financial reporting …Politically connected CEOs, corporate governance, and Post-IPO performance of China's newly partially privatized firms☆ (2007)Politically connected CEOs, c…Over-investment of free cash flow (2006)Over-investment of free cash …Financial Constraints Risk (2006)Financial Constraints RiskLaw, Finance, and Economic Growth in China (2003)Law, Finance, and Economic Gr…Home Bias at Home: Local Equity Preference in Domestic Portfolios (1999)Home Bias at Home: Local Equi…Capital-Market Imperfections and Investment (1997)Capital-Market Imperfections …Financing Constraints and Corporate Investment (1988)Financing Constraints and Cor…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…Corporate financing and investment decisions when firms have information that investors do not have (1984)Corporate financing and inves…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…Investment in Human Capital: A Theoretical Analysis (1962)Investment in Human Capital: …Clausulas comparativas do portugues (1975)Clausulas comparativas do portugues (1975)Developments in the Measurement of Subjective Well-Being (2006)Bank Competition and Stability: Cross-Country Heterogeneity (2011)Credit supply and corporate innovation (2013)ESG disclosure and financial performance: Moderating role of ESG investors (2022)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)The Nature of the Firm (1937)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)The Pricing of Options and Corporate Liabilities (1973)Separation of Ownership and Control (1983)An Integrative Model Of Organizational Trust (1995)Common risk factors in the returns on stocks and bonds (1993)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)Corporate social responsibility and access to finance (2013)… and the Cross-Section of Expected Returns (2015)Policy Uncertainty and Corporate Investment (2015)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Determinants of corporate borrowing (1977)The Capital Structure Puzzle (1984)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Law and Finance (1998)Corporate Ownership Around the World (1999)The Colonial Origins of Comparative Development: An Empirical Investigation (2001)Finance and Growth: Theory and Evidence (2004)Chapter 12 Finance and Growth: Theory and Evidence (2005)The Fundamental Institutions of China's Reforms and Development (2011)The Production of Human Capital and the Life Cycle of Earnings (1967)Entry and Exit Decisions under Uncertainty (1989)Migration and Development: A Theoretical Perspective (2010)The Benefits of Lending Relationships: Evidence from Small Business Data (1994)Threshold effects in non-dynamic panels: Estimation, testing, and inference (1999)New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)A Survey of Corporate Governance (1997)A review of tax research (2010)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)Textual Analysis in Accounting and Finance: A Survey (2016)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 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
  • 1962Investment in Human Capital: A Theoretical Analysis8,383 cited
  • 1988Financing Constraints and Corporate Investment5,566 cited
  • 2003Law, Finance, and Economic Growth in China4,502 cited
  • 2006Financial Constraints Risk3,702 cited
  • 2010Big Bad Banks? The Winners and Losers from Bank Deregulation in the United States3,372 cited
  • 2009How does financial reporting quality relate to investment efficiency?3,211 cited
  • 2006Over-investment of free cash flow2,918 cited
  • 1999Home Bias at Home: Local Equity Preference in Domestic Portfolios2,898 cited
  • 2007Politically connected CEOs, corporate governance, and Post-IPO performance of China's newly partially privatized firms☆2,736 cited
  • 1997Capital-Market Imperfections and Investment2,600 cited
  • 2009On the use of instrumental variables in accounting research

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2,416 cited
  • 2010The real effects of financial constraints: Evidence from a financial crisis2,298 cited
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