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Results 1 - 10
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2,735
How Do Institutional Investors Trade When Firms Buy Back Their Shares?
, 2012
"... How do institutional investors trade when firms are buying back shares? ..."
The Determinants of Credit Spread Changes.
- Journal of Finance
, 2001
"... ABSTRACT Using dealer's quotes and transactions prices on straight industrial bonds, we investigate the determinants of credit spread changes. Variables that should in theory determine credit spread changes have rather limited explanatory power. Further, the residuals from this regression are ..."
Abstract
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Cited by 422 (2 self)
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at both the individual firm level (see, for example, Kwan (1996)) and portfolio level (see, for example, Blume, Keim and Patel (1991), and Cornell and Green (1991)). These studies focus on corporate bond returns, or yield changes. The main conclusions of these papers are: (1) high-grade bonds behave
Venture Capital and the Professionalization of Start-up Firms: Empirical Evidence
- Journal of Finance
, 2002
"... This paper examines the impact venture capital can have on the development of new firms. Using a hand-collected data set on Silicon Valley start-ups, we find that venture capital is related to a variety of professionalization measures, such as human resource policies, the adoption of stock option pl ..."
Abstract
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Cited by 354 (26 self)
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This paper examines the impact venture capital can have on the development of new firms. Using a hand-collected data set on Silicon Valley start-ups, we find that venture capital is related to a variety of professionalization measures, such as human resource policies, the adoption of stock option
Market underreaction to open market share repurchases
- JOURNAL OF FINANCIAL ECONOMICS
, 1995
"... We examine long-run firm performance following open market share repurchase announcements, 1980-1990. We find that the average abnormal four-year buy-and-hold return measured after the initial announcement is 12.1%. For ‘value ’ stocks, companies more likely to be repurchasing shares because of unde ..."
Abstract
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Cited by 355 (13 self)
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We examine long-run firm performance following open market share repurchase announcements, 1980-1990. We find that the average abnormal four-year buy-and-hold return measured after the initial announcement is 12.1%. For ‘value ’ stocks, companies more likely to be repurchasing shares because
Bad news travels slowly: Size, analyst coverage, and the profitability of momentum strategies
- Journal of Finance
, 2000
"... Various theories have been proposed to explain momentum in stock returns. We test the gradual-information-diffusion model of Hong and Stein (1999) and establish three key results. First, once one moves past the very smallest stocks, the profitability of momentum strategies declines sharply with firm ..."
Abstract
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Cited by 339 (25 self)
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with firm size. Second, holding size fixed, momentum strategies work better among stocks with low analyst coverage. Finally, the effect of analyst coverage is greater for stocks that are past losers than for past winners. These findings are consistent with the hypothesis that firm-specific information
An Anatomy of International Trade: Evidence from French Firms
"... We look beneath bilateral trade data by examining the exports and imports of in French manufacturing firms. One striking finding is that variation in trade dividual across sources and destinations is much more the consequence of variation volumes the number of firms participating than in how much ea ..."
Abstract
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Cited by 276 (7 self)
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each one buys or sells. At the in time, the variation in trade volumes across firms is much more the consequence same variation in amounts sold to or bought from a given number of trading partners of of firms account for most trade. If they trade at all most firms export to or fraction from only one
Managerial decisions and long-term stock price performance
- Journal of Business
, 2000
"... A rapidly growing literature claims to reject the efficient market hypothesis by producing large estimates of long-term abnormal returns following major corporate events. The preferred methodology in this literature is to calculate average multi-year buy-and-hold abnormal returns and conduct inferen ..."
Abstract
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Cited by 299 (4 self)
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A rapidly growing literature claims to reject the efficient market hypothesis by producing large estimates of long-term abnormal returns following major corporate events. The preferred methodology in this literature is to calculate average multi-year buy-and-hold abnormal returns and conduct
PLANT- AND FIRM-LEVEL EVIDENCE ON “NEW” TRADE THEORIES
, 2001
"... By relaxing the assumption of perfect competition, the “new” trade theory has generated a rich body of predictions concerning the effects of commercial policy on price-cost mark-ups, firm sizes, exports, productivity and profitability among domestic producers. This paper critically assesses the plan ..."
Abstract
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Cited by 256 (3 self)
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-competing firms cut back their production levels when foreign competition intensifies, at least in the short run. This suggests that sunk entry or exit costs are important in most sectors. Third, trade rationalizes production in the sense that markets for the most efficient plants are expanded, but large import
MANAGING WITH STYLE: THE EFFECT OF MANAGERS ON FIRM POLICIES
, 2003
"... This paper investigates whether and how individual managers affect corporate behavior and performance. We construct a manager-firm matched panel data set which enables us to track the top managers across different firms over time. We find that manager fixed effects matter for a wide range of corpora ..."
Abstract
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Cited by 251 (7 self)
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managers. Moreover, we show that management style is significantly related to manager fixed effects in performance and that managers with higher performance fixed effects receive higher compensation and are more likely to be found in better governed firms. In a final step, we tie back these findings
Implementation of Buy-Back Programs Implementation of Buy-Back Programs
"... Abstract This paper documents how Swedish firms implemented and executed open-market share repurchases over the period 2000 to 2007 by using a unique hand-collected data set with detailed information of each repurchase transaction. I find that my sample firms have a higher repurchase fraction in th ..."
Abstract
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for firms with multiple programs. Implementation of Buy-Back Programs Abstract This paper documents how Swedish firms implemented and executed open-market share repurchases over the period 2000 to 2007 by using a unique hand-collected data set with detailed information of each repurchase transaction. I
Results 1 - 10
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2,735
