2013

Adoptive expectations: Rising sons in Japanese family firms, 2013, Vikas Mehrotra; Randall Morck; Jungwook Shim; Yupana Wiwattanakantang

Alliances and corporate governance, 2013, Andriy Bodnaruk; Massimo Massa; Andrei Simonov

Allocation of decision rights and the investment strategy of mutual funds, 2013, Nishant Dass; Vikram Nanda; Qinghai Wang

Anomalies and financial distress, 2013, Doron Avramov; Tarun Chordia; Gergana Jostova; Alexander Philipov

Are busy boards detrimental?, 2013, Laura Field; Michelle Lowry; Anahit Mkrtchyan

Are mutual funds sitting ducks?, 2013, Sophie Shive; Hayong Yun

Are small firms less vulnerable to overpriced stock offers?, 2013, Anand M. Vijh; Ke Yang

Are there too many safe securities? Securitization and the incentives for information production, 2013, Samuel G. Hanson; Adi Sunderam

Asset management and investment banking, 2013, Janis Berzins; Crocker H. Liu; Charles Trzcinka

Banking deregulation and innovation, 2013, Sudheer Chava; Alexander Oettl; Ajay Subramanian; Krishnamurthy V. Subramanian

Boards, CEO entrenchment, and the cost of capital, 2013, James Dow

Brand perception, cash flow stability, and financial policy, 2013, Yelena Larkin

CEO compensation contagion: Evidence from an exogenous shock, 2013, Frederick L. Bereskin; David C. Cicero

CEO contract design: How do strong principals do it?, 2013, Henrik Cronqvist; Rüdiger Fahlenbrach

CEO turnover in a competitive assignment framework, 2013, Andrea L. Eisfeldt; Camelia M. Kuhnen

CEO wage dynamics: Estimates from a learning model, 2013, Lucian A. Taylor

Can hedge funds time market liquidity?, 2013, Charles Cao; Yong Chen; Bing Liang; Andrew W. Lo

Capacity constraints, investor information, and hedge fund returns, 2013, Tarun Ramadorai

Changes to the ownership and control of East Asian corporations between 1996 and 2008: The primacy of politics, 2013, Richard W. Carney; Travers Barclay Child

Collateral and capital structure, 2013, Adriano A. Rampini; S. Viswanathan

Company name fluency, investor recognition, and firm value, 2013, T. Clifton Green; Russell Jame

Connecting two markets: An equilibrium framework for shorts, longs, and stock loans, 2013, Jesse Blocher; Adam V. Reed; Edward D. Van Wesep

Contagion of a liquidity crisis between two firms, 2013, Frederick Dongchuhl Oh

Contracting under asymmetric information: Evidence from lockup agreements in seasoned equity offerings, 2013, Jonathan M. Karpoff; Gemma Lee; Ronald W. Masulis

Controlling shareholders and market timing in share issuance, 2013, Francisco Urzúa I.; Borja Larrain

Corporate ownership structure and the choice between bank debt and public debt, 2013, Chen Lin; Yue Ma; Paul Malatesta; Yuhai Xuan

Corporate social responsibility and stakeholder value maximization: Evidence from mergers, 2013, Xin Deng; Jun-Koo Kang; Buen Sin Low

Credit supply and corporate innovation, 2013, Mario Daniele Amore; Cédric Schneider; Alminas Žaldokas

Cross section of option returns and idiosyncratic stock volatility, 2013, Jie Cao; Bing Han

Delegated asset management, investment mandates, and capital immobility, 2013, Zhiguo He; Wei Xiong

Determinants of corporate cash policy: Insights from private firms, 2013, Huasheng Gao; Jarrad Harford; Kai Li

Diagnosing affine models of options pricing: Evidence from VIX, 2013, Gang Li; Chu Zhang

Directors' and officers' liability insurance and loan spreads, 2013, Chen Lin; Micah S. Officer; Rui Wang; Hong Zou

Do jumps contribute to the dynamics of the equity premium?, 2013, John M. Maheu; Thomas H. Mccurdy; Xiaofei Zhao

Do personal taxes affect capital structure? Evidence from the 2003 tax cut, 2013, Mark J. Flannery; Leming Lin

Do stock prices influence corporate decisions? Evidence from the technology bubble, 2013, Murillo Campello; John R. Graham

Does risk management matter? Evidence from the U.S. agricultural industry, 2013, Jess Cornaggia

Does shareholder coordination matter? Evidence from private placements, 2013, Indraneel Chakraborty; Nickolay Gantchev

Does the director labor market offer ex post settling-up for CEOs? The case of acquisitions, 2013, Jarrad Harford; Robert J. Schonlau

Equity yields, 2013, Jules Van Binsbergen; Wouter Hueskes; Ralph Koijen; Evert Vrugt

Exploring the role Delaware plays as a domestic tax haven, 2013, Scott D. Dyreng; Bradley P. Lindsey; Jacob R. Thornock

Exploring uncharted territories of the hedge fund Industry: Empirical characteristics of mega hedge fund firms, 2013, Daniel Edelman; William Fung; David A. Hsieh

Externalities of public firm presence: Evidence from private firms' investment decisions, 2013, Brad Badertscher; Nemit Shroff; Hal D. White

Feedback effects of credit ratings, 2013, Gustavo Manso

Firm characteristics and long-run stock returns after corporate events, 2013, Hendrik Bessembinder; Feng Zhang

Firms as liquidity providers: Evidence from the 2007–2008 financial crisis, 2013, Emilia Garcia-Appendini; Judit Montoriol-Garriga

Flow and stock effects of large-scale treasury purchases: Evidence on the importance of local supply, 2013, Stefania D’Amico; Thomas B. King

Gender and corporate finance: Are male executives overconfident relative to female executives?, 2013, Jiekun Huang; Darren J. Kisgen

General equilibrium pricing of currency and currency options, 2013, Du Du

General equilibrium with heterogeneous participants and discrete consumption times, 2013, Oldrich Alfons Vasicek

Generalists versus specialists: Lifetime work experience and chief executive officer pay, 2013, Cláudia Custódio; Miguel A. Ferreira; Pedro Matos

Government spending, political cycles, and the cross section of stock returns, 2013, Frederico Belo; Vito D. Gala; Jun Li

Growth options, macroeconomic conditions, and the cross section of credit risk, 2013, Marc Arnold; Alexander F. Wagner; Ramona Westermann

Growth to value: Option exercise and the cross section of equity returns, 2013, Hengjie Ai; Dana Kiku

How do staggered boards affect shareholder value? Evidence from a natural experiment, 2013, Alma Cohen; Charles C.Y. Wang

How does capital affect bank performance during financial crises?, 2013, Allen N. Berger; Christa H.S. Bouwman

Human capital, capital structure, and employee pay: An empirical analysis, 2013, Thomas J. Chemmanur; Yingmei Cheng; Tianming Zhang

IPO first-day returns, offer price revisions, volatility, and form S-1 language, 2013, Tim Loughran; Bill Mcdonald

Inequality, stock market participation, and the equity premium, 2013, Jack Favilukis

Innovative efficiency and stock returns, 2013, David Hirshleifer; Po-Hsuan Hsu; Dongmei Li

Institutional trading and stock resiliency: Evidence from the 2007–2009 financial crisis, 2013, Amber Anand; Paul Irvine; Andy Puckett; Kumar Venkataraman

Inventory investment and the cost of capital, 2013, Christopher S. Jones; Selale Tuzel

Investment cycles and startup innovation, 2013, Ramana Nanda; Matthew Rhodes-Kropf

Investment shocks and the commodity basis spread, 2013, Fan Yang

Is there price discovery in equity options?, 2013, John Paul Broussard; Dmitriy Muravyev; Neil D. Pearson

Labor unemployment risk and corporate financing decisions, 2013, Ashwini K. Agrawal; David A. Matsa

Labor unions and tax aggressiveness, 2013, James A. Chyz; Winnie Siu Ching Leung; Oliver Zhen Li; Oliver Meng Rui

Laying off credit risk: Loan sales versus credit default swaps, 2013, Christine A. Parlour; Andrew Winton

Learning and the disappearing association between governance and returns, 2013, Lucian A. Bebchuk; Alma Cohen; Charles C.Y. Wang

Learning from repetitive acquisitions: Evidence from the time between deals, 2013, Nihat Aktas; Eric De Bodt; Richard Roll

Legislating stock prices, 2013, Lauren Cohen; Karl Diether; Christopher Malloy

Limits to arbitrage and hedging: Evidence from commodity markets, 2013, Viral V. Acharya; Lars A. Lochstoer; Tarun Ramadorai

Liquidity risk of corporate bond returns: conditional approach, 2013, Viral V. Acharya; Yakov Amihud; Sreedhar T. Bharath

Managerial attitudes and corporate actions, 2013, John R. Graham; Campbell R. Harvey; Manju Puri

Market skewness risk and the cross section of stock returns, 2013, Bo Young Chang; Peter Christoffersen; Kris Jacobs

Market timing, investment, and risk management, 2013, Patrick Bolton; Hui Chen; Neng Wang

Monitoring and corporate disclosure: Evidence from a natural experiment, 2013, Rustom M. Irani; David Oesch

Mutual fund risk and market share-adjusted fund flows, 2013, Matthew Spiegel; Hong Zhang

Mutual fund skill and the performance of corporate acquirers, 2013, Amrita Nain; Tong Yao

New evidence on the first financial bubble, 2013, Rik G.P. Frehen; William N. Goetzmann; K. Geert Rouwenhorst

Nonlinear incentives and mortgage officers’ decisions, 2013, Matthew Gee; Konstantinos Tzioumis

Optimal incentives and securitization of defaultable assets, 2013, Semyon Malamud; Huaxia Rui; Andrew Whinston

Payout taxes and the allocation of investment, 2013, Bo Becker; Marcus Jacob; Martin Jacob

Peer choice in CEO compensation, 2013, Ana M. Albuquerque; Gus De Franco; Rodrigo S. Verdi

Political activism, information costs, and stock market participation, 2013, Yosef Bonaparte; Alok Kumar

Political uncertainty and risk premia, 2013, Ľuboš Pástor; Pietro Veronesi

Predictability of currency carry trades and asset pricing implications, 2013, Gurdip Bakshi; George Panayotov

Predicting market returns using aggregate implied cost of capital, 2013, Yan Li; David T. Ng; Bhaskaran Swaminathan

Pricing the term structure with linear regressions, 2013, Tobias Adrian; Richard K. Crump; Emanuel Moench

Probability weighting functions implied in options prices, 2013, Valery Polkovnichenko; Feng Zhao

Productivity, restructuring, and the gains from takeovers, 2013, Xiaoyang Li

Prospect theory, the disposition effect, and asset prices, 2013, Yan Li; Liyan Yang

Pyramidal ownership and the creation of new firms, 2013, Jan Bena; Hernán Ortiz-Molina

Quiet bubbles, 2013, Harrison Hong; David Sraer

Rating agencies in the face of regulation, 2013, Milton Harris; Christian C. Opp; Marcus M. Opp

Ratings quality over the business cycle, 2013, Heski Bar-Isaac; Joel Shapiro

Real effects of stock underpricing, 2013, Harald Hau; Sandy Lai

Realizing smiles: Options pricing with realized volatility, 2013, Fulvio Corsi; Nicola Fusari; Davide La Vecchia

Reputational contagion and optimal regulatory forbearance, 2013, Alan D. Morrison; Lucy White

Riding the merger wave: Uncertainty, reduced monitoring, and bad acquisitions, 2013, Ran Duchin; Breno Schmidt

Risk and return: Long-run relations, fractional cointegration, and return predictability, 2013, Tim Bollerslev; Daniela Osterrieder; Natalia Sizova; George Tauchen

Securitization without risk transfer, 2013, Viral V. Acharya; Philipp Schnabl; Gustavo Suarez

Sharing information in the credit market: Contract-level evidence from U.S. firms, 2013, Antonio Doblas-Madrid; Raoul Minetti

Stock returns and the Miller Modigliani valuation formula: Revisiting the Fama French analysis, 2013, Gil Aharoni; Bruce Grundy; Qi Zeng

Strategic alliances, venture capital, and exit decisions in early stage high-tech firms, 2013, Umit Ozmel; David T. Robinson; Toby E. Stuart

Style investing, comovement and return predictability, 2013, Sunil Wahal; M. Deniz Yavuz

Supply uncertainty of the bond investor base and the leverage of the firm, 2013, Massimo Massa; Ayako Yasuda; Lei Zhang

Systemic risk and the refinancing ratchet effect, 2013, Amir E. Khandani; Andrew W. Lo; Robert C. Merton

The European Union, the Euro, and equity market integration, 2013, Geert Bekaert; Campbell R. Harvey; Christian T. Lundblad; Stephan Siegel

The U.S. left behind? Financial globalization and the rise of IPOs outside the U.S., 2013, Craig Doidge; G. Andrew Karolyi; René M. Stulz

The acquisitiveness of youth: CEO age and acquisition behavior, 2013, Soojin Yim

The asset growth effect: Insights from international equity markets, 2013, Akiko Watanabe; Yan Xu; Tong Yao; Tong Yu

The costs of shareholder activism: Evidence from a sequential decision model, 2013, Nickolay Gantchev

The cross section of conditional mutual fund performance in European stock markets, 2013, Ayelen Banegas; Ben Gillen; Allan Timmermann; Russ Wermers

The dark side of analyst coverage: The case of innovation, 2013, Jie (Jack) He; Xuan Tian

The deep-pocket effect of internal capital markets, 2013, Xavier Boutin; Giacinta Cestone; Chiara Fumagalli; Giovanni Pica; Nicolas Serrano-Velarde

The dividend month premium, 2013, Samuel M. Hartzmark; David H. Solomon

The earnings announcement premium around the globe, 2013, Brad M. Barber; Emmanuel T. De George; Reuven Lehavy; Brett Trueman

The economics of club bidding and value creation, 2013, Robert Marquez; Rajdeep Singh

The economics of hedge funds, 2013, Yingcong Lan; Neng Wang; Jinqiang Yang

The economics of options-implied inflation probability density functions, 2013, Yuriy Kitsul; Jonathan H. Wright

The effects of firm-initiated clawback provisions on bank loan contracting, 2013, Lilian H. Chan; Kevin C.W. Chen; Tai-Yuan Chen

The impact of investor protection law on corporate policy and performance: Evidence from the blue sky laws, 2013, Ashwini K. Agrawal

The impact of securitization on the expansion of subprime credit, 2013, Taylor D. Nadauld; Shane M. Sherlund

The inefficiency of refinancing: Why prepayment penalties are good for risky borrowers, 2013, Chris Mayer; Tomasz Piskorski; Alexei Tchistyi

The leverage effect puzzle: Disentangling sources of bias at high frequency, 2013, Yacine Aït-Sahalia; Jianqing Fan; Yingying Li

The market for borrowing corporate bonds, 2013, Paul Asquith; Andrea S. Au; Thomas Covert; Parag A. Pathak

The mystery of zero-leverage firms, 2013, Ilya A. Strebulaev; Baozhong Yang

The other side of value: The gross profitability premium, 2013, Robert Novy-Marx

The performance of corporate alliances: Evidence from oil and gas drilling in the Gulf of Mexico, 2013, John Beshears

The relation between equity incentives and misreporting: The role of risk-taking incentives, 2013, Christopher S. Armstrong; David F. Larcker; Gaizka Ormazabal; Daniel J. Taylor

The role of shorting, firm size, and time on market anomalies, 2013, Ronen Israel; Tobias J. Moskowitz

The role of state and foreign owners in corporate risk-taking: Evidence from privatization, 2013, Narjess Boubakri; Jean-Claude Cosset; Walid Saffar

The role of the media in corporate governance: Do the media influence managers' capital allocation decisions?, 2013, Baixiao Liu; John J. Mcconnell

The term structure of interbank risk, 2013, Damir Filipović; Anders B. Trolle

The timing of pay, 2013, Christopher A. Parsons; Edward D. Van Wesep

The value of local political connections in a low-corruption environment, 2013, Mario Daniele Amore; Morten Bennedsen

The “out-of-sample” performance of long run risk models, 2013, Wayne Ferson; Suresh Nallareddy; Biqin Xie

Trading frenzies and their impact on real investment, 2013, Itay Goldstein; Emre Ozdenoren; Kathy Yuan

Undisclosed orders and optimal submission strategies in a limit order market, 2013, Sabrina Buti; Barbara Rindi

Valuation of VIX derivatives, 2013, Javier Mencía; Enrique Sentana

What do boards really do? Evidence from minutes of board meetings☆☆Miriam Schwartz-Ziv is from Harvard University and Northeastern University, e-mail: miriam.schwartz@mail.huji.ac.il. Michael S. Weisbach is from Ohio State University, NBER, and SIFR, e-mail: weisbach@fisher.osu.edu. Miriam Schwartz-Ziv is very grateful to Eugene Kandel and Michael Weisbach, the co-advisors of her Hebrew University doctoral dissertation, upon which this paper is based. We thank the executive and non-executive employees of the Government Companies Authority of Israel who allowed us both formally and practically to conduct this research; the companies studied that kindly provided us with private and sensitive data; and seminar participants at Babson University, Brown University, Northeastern University, Ohio State University, Purdue University, the European Financial Management Association 2011 conference, the Western Economic Association 2012 conference, and the Financial Management Association 2012 conference, as well as the following people who shared their thoughts and advice at different stages of the preparation of this paper: Renée Adams, Amir Barnea, Steven Davidoff, Ada Demb, Dave Denis, Alon Eizenberg, Isil Erel, Rudi Fahlenbrach, Julian Franks, Ann Gillette, Ilan Guttman, Assaf Hamdani, Randal Heron, E. Han Kim, Stephanie Kramer, Saul Lach, Alexander Ljungqvist, Udi Nisan, Nadya Malenko, Avri Ravid, Artur Raviv, Karen Selody, Daniel Schwartz, Schraga Schwartz, Eytan Sheshinski, Léa Stern, Yuhai Xuan, Jun Yang, Scott Yonker, Tammar Zilber, and Clifford Smith, the referee, Miriam Schwartz-Ziv also thanks the Israeli Ministry of Science and Technology and Hebrew University's School of Business Administration for financial support., 2013, Miriam Schwartz-Ziv; Michael S. Weisbach

Why Gaussian macro-finance term structure models are (nearly) unconstrained factor-VARs, 2013, Scott Joslin; Anh Le; Kenneth J. Singleton

Why are US firms using more short-term debt?, 2013, Cláudia Custódio; Miguel A. Ferreira; Luís Laureano

Why does junior put all his eggs in one basket? A potential rational explanation for holding concentrated portfolios, 2013, Hervé Roche; Stathis Tompaidis; Chunyu Yang

Word power: A new approach for content analysis, 2013, Narasimhan Jegadeesh; Di Wu

Worldwide reach of short selling regulations, 2013, Archana Jain; Pankaj K. Jain; Thomas H. Mcinish; Michael Mckenzie

“When the cat's away the mice will play”: Does regulation at home affect bank risk-taking abroad?, 2013, Steven Ongena; Alexander Popov; Gregory F. Udell

Journal of Finance¶

Journal of Financial Economics¶

Review of Financial Studies¶

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