Journal: The Journal of Finance

Found 93 papers in total
Motivating Innovation
Motivating Innovation
2011,
Motivating innovation is important in many incentive problems. This paper shows that...
The Real and Financial Implications of Corporate Hedging
The Real and Financial Implications of Corporate Hedging
2011,
We study the implications of hedging for corporate financing and investment. We do so...
Are Incentive Contracts Rigged by Powerful CEOs?
Are Incentive Contracts Rigged by Powerful CEOs?
2011,
We argue that some powerful CEOs induce boards to shift the weight on performance...
Nonbinding Voting for Shareholder Proposals
Nonbinding Voting for Shareholder Proposals
2011,
Shareholder proposals are a common form of shareholder activism. Voting for...
Overconfidence, Compensation Contracts, and Capital Budgeting
Overconfidence, Compensation Contracts, and Capital Budgeting
2011,
A risk‐averse manager’s overconfidence makes him less conservative. As a...
In Search of Attention
In Search of Attention
2011,
We propose a new and direct measure of investor attention using search frequency in...
Favoritism in Mutual Fund Families? Evidence on Strategic Cross-Fund Subsidization
Favoritism in Mutual Fund Families? Evidence on Strategic Cross-Fund Subsidization
2006,
We investigate whether mutual fund families strategically transfer performance across...
Finance as a Barrier to Entry: Bank Competition and Industry Structure in Local U.S. Markets
Finance as a Barrier to Entry: Bank Competition and Industry Structure in Local U.S. Markets
2006,
This paper tests how competition in local U.S. banking markets affects the market...
The Price Impact and Survival of Irrational Traders
The Price Impact and Survival of Irrational Traders
2006,
Milton Friedman argued that irrational traders will consistently lose money, will not...
Unspanned Stochastic Volatility: Evidence from Hedging Interest Rate Derivatives
Unspanned Stochastic Volatility: Evidence from Hedging Interest Rate Derivatives
2006,
Most existing dynamic term structure models assume that interest rate derivatives are...
Initial Public Offerings: An Analysis of Theory and Practice
Initial Public Offerings: An Analysis of Theory and Practice
2006,
We survey 336 chief financial officers (CFOs) to compare practice to theory in the...
Empirical Evidence on Capital Investment, Growth Options, and Security Returns
Empirical Evidence on Capital Investment, Growth Options, and Security Returns
2006,
Growth in capital expenditures conditions subsequent classification of firms to...
Competing for Securities Underwriting Mandates: Banking Relationships and Analyst Recommendations
Competing for Securities Underwriting Mandates: Banking Relationships and Analyst Recommendations
2006,
We investigate whether analyst behavior influenced banks' likelihood of winning...
Asset Pricing Implications of Nonconvex Adjustment Costs and Irreversibility of Investment
Asset Pricing Implications of Nonconvex Adjustment Costs and Irreversibility of Investment
2006,
This paper derives a real options model that accounts for the value premium. If real...
The Cross-Section of Volatility and Expected Returns
The Cross-Section of Volatility and Expected Returns
2006,
We examine the pricing of aggregate volatility risk in the cross-section of stock...
Investment and Financing Constraints: Evidence from the Funding of Corporate Pension Plans
Investment and Financing Constraints: Evidence from the Funding of Corporate Pension Plans
2006,
I exploit sharply nonlinear funding rules for defined benefit pension plans in order...
Information Uncertainty and Stock Returns
Information Uncertainty and Stock Returns
2006,
There is substantial evidence of short-term stock price continuation, which the prior...
Investor Tax Heterogeneity and Ex-Dividend Day Trading Volume
Investor Tax Heterogeneity and Ex-Dividend Day Trading Volume
2006,
We propose that ex-dividend day excess volume is motivated by tax heterogeneity among...
The Limits of Investor Behavior
The Limits of Investor Behavior
2006,
Many models use noise trader risk and corresponding violations of the Law of One Price...
Wealth and Executive Compensation
Wealth and Executive Compensation
2006,
Using new data on the wealth of Swedish CEOs, I show that higher wealth CEOs receive...
IQ and Stock Market Participation
IQ and Stock Market Participation
2011,
Stock market participation is monotonically related to IQ, controlling for wealth,...
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