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Citations for "What do firms do with cash windfalls?"

by Blanchard, Olivier Jean & Lopez-de-Silanes, Florencio & Shleifer, Andrei

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  1. Eric Molay, 2013. "La Sous-Valorisation Des Actifs A Court Terme," Post-Print halshs-00853449, HAL.
  2. Islam, Saiyid S. & Mozumdar, Abon, 2007. "Financial market development and the importance of internal cash: Evidence from international data," Journal of Banking & Finance, Elsevier, vol. 31(3), pages 641-658, March.
  3. Core, John E. & Guay, Wayne R. & Verdi, Rodrigo S., 2006. "Agency problems of excess endowment holdings in not-for-profit firms," Journal of Accounting and Economics, Elsevier, vol. 41(3), pages 307-333, September.
  4. Steven N. Kaplan & Luigi Zingales, 1995. "Do Financing Constraints Explain Why Investment is Correlated with Cash Flow?," NBER Working Papers 5267, National Bureau of Economic Research, Inc.
  5. Franzoni, Francesco, 2009. "Underinvestment vs. overinvestment: Evidence from price reactions to pension contributions," Journal of Financial Economics, Elsevier, vol. 92(3), pages 491-518, June.
  6. Fritz Foley, C. & Hartzell, Jay C. & Titman, Sheridan & Twite, Garry, 2007. "Why do firms hold so much cash? A tax-based explanation," Journal of Financial Economics, Elsevier, vol. 86(3), pages 579-607, December.
  7. An, Yunbi & Cheung, Keith, 2010. "Project financing: Deal or no deal," Review of Financial Economics, Elsevier, vol. 19(2), pages 72-77, April.
  8. James Dow & Gary Gorton & Arvind Krishnamurthy, 2005. "Equilibrium Investment and Asset Prices under Imperfect Corporate Control," American Economic Review, American Economic Association, vol. 95(3), pages 659-681, June.
  9. Marianne Bertrand & Paras Mehta & Sendhil Mullainathan, 2000. "Ferreting Out Tunneling: An Application to Indian Business Groups," NBER Working Papers 7952, National Bureau of Economic Research, Inc.
  10. Cumming, Douglas J., 2005. "Agency costs, institutions, learning, and taxation in venture capital contracting," Journal of Business Venturing, Elsevier, vol. 20(5), pages 573-622, September.
  11. R. Glenn Hubbard, 1997. "Capital-Market Imperfections and Investment," NBER Working Papers 5996, National Bureau of Economic Research, Inc.
  12. Severin Borenstein & Joseph Farrell, 1999. "Do Investors Forecast Fat Firms? Evidence from the Gold Mining Industry," NBER Working Papers 7075, National Bureau of Economic Research, Inc.
  13. Dittmar, Amy & Mahrt-Smith, Jan & Servaes, Henri, 2002. "Corporate Liquidity," CEPR Discussion Papers 3499, C.E.P.R. Discussion Papers.
  14. Jaud, Melise & Kukenova, Madina & Strieborny, Martin, 2012. "Finance, comparative advantage, and resource allocation," Policy Research Working Paper Series 6111, The World Bank.
  15. Albuquerque, Rui & Wang, Neng, 2005. "Agency Conflicts, Investment and Asset Pricing," CEPR Discussion Papers 4955, C.E.P.R. Discussion Papers.
  16. Aaron Tornell & Philip Lane, 1994. "Are Windfalls a Curse? A Non-Representative Agent Model of the Current Account and Fiscal Policy," NBER Working Papers 4839, National Bureau of Economic Research, Inc.
  17. Markus K. Brunnermeier & Thomas M. Eisenbach & Yuliy Sannikov, 2012. "Macroeconomics with Financial Frictions: A Survey," NBER Working Papers 18102, National Bureau of Economic Research, Inc.
  18. Heitor Almeida & Murillo Campello & Michael S. Weisbach, 2002. "Corporate Demand for Liquidity," NBER Working Papers 9253, National Bureau of Economic Research, Inc.
  19. Jae Sim & Simon Gilchrist, 2007. "Investment during the Korean financial crisis: A structural econometric approach," 2007 Meeting Papers 53, Society for Economic Dynamics.
  20. Andrade, Gregor & Stafford, Erik, 2004. "Investigating the economic role of mergers," Journal of Corporate Finance, Elsevier, vol. 10(1), pages 1-36, January.
  21. Owen Lamont, 1996. "Cash Flow and Investment: Evidence from Internal Capital Markets," NBER Working Papers 5499, National Bureau of Economic Research, Inc.
  22. Markus Glaser & Florencio Lopez-De-Silanes & Zacharias Sautner, 2013. "Opening the Black Box: Internal Capital Markets and Managerial Power," Journal of Finance, American Finance Association, vol. 68(4), pages 1577-1631, 08.
  23. Ralph P. Heinrich, 1999. "Complementarities in Corporate Governance. A Survey of the Literature with Special Emphasis on Japan," Kiel Working Papers 947, Kiel Institute for the World Economy.
  24. Jed DeVaro & Jin-Hyuk Kim & Nick Vikander, 2014. "Pay-for-(Persistent)-Luck: CEO Bonuses Under Relational and Formal Contracting," Discussion Papers 14-13, University of Copenhagen. Department of Economics.
  25. Mihir A. Desai & C. Fritz Foley & James R. Hines, 2004. "A Multinational Perspective on Capital Structure Choice and Internal Capital Markets," Journal of Finance, American Finance Association, vol. 59(6), pages 2451-2487, December.
  26. Oswald, Dennis & Young, Steven, 2008. "Share reacquisitions, surplus cash, and agency problems," Journal of Banking & Finance, Elsevier, vol. 32(5), pages 795-806, May.
  27. Begley, Joy & Feltham, Gerald A., 1999. "An empirical examination of the relation between debt contracts and management incentives," Journal of Accounting and Economics, Elsevier, vol. 27(2), pages 229-259, April.
  28. Simon Gilchrist & Jae W. Sim, 2007. "Investment during the Korean Financial Crisis: A Structural Econometric Analysis," NBER Working Papers 13315, National Bureau of Economic Research, Inc.
  29. Lamont, Owen A. & Polk, Christopher, 2002. "Does diversification destroy value? Evidence from the industry shocks," Journal of Financial Economics, Elsevier, vol. 63(1), pages 51-77, January.
  30. Owyong, David T., 2001. "Inflationary finance, capital mobility, and monetary coordination," International Review of Economics & Finance, Elsevier, vol. 10(4), pages 369-382, December.
  31. Andreas Behr, 2005. "Investment, Q und Liquidity, Evidence for Germany Using Firm Level Balance Sheet Data," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 225(1), pages 2-21, January.
  32. Jeremy C. Stein, 2001. "Agency, Information and Corporate Investment," NBER Working Papers 8342, National Bureau of Economic Research, Inc.
  33. Mussie Teclezion, 2012. "The impact of international and industrial diversification strategies on the cash flow sensitivity of cash," Managerial Finance, Emerald Group Publishing, vol. 38(10), pages 977-992, October.
  34. Murillo Campello & John Graham & Campbell R. Harvey, 2009. "The Real Effects of Financial Constraints: Evidence from a Financial Crisis," NBER Working Papers 15552, National Bureau of Economic Research, Inc.
  35. Malcolm Baker & Richard S. Ruback & Jeffrey Wurgler, 2004. "Behavioral Corporate Finance: A Survey," NBER Working Papers 10863, National Bureau of Economic Research, Inc.
  36. Christopher F. Baum & Atreya Chakraborty & Liyan Han & Boyan Liu, 2009. "The Effects of Uncertainty and Corporate Governance on Firms' Demand for Liquidity," Boston College Working Papers in Economics 726, Boston College Department of Economics.
  37. Ozkan, Aydin & Ozkan, Neslihan, 2004. "Corporate cash holdings: An empirical investigation of UK companies," Journal of Banking & Finance, Elsevier, vol. 28(9), pages 2103-2134, September.
  38. Gueorgui I. Kolev & Robin Hogarth, 2008. "Illusory correlation in the remuneration of chief executive officers: It pays to play golf, and well," Economics Working Papers 1132, Department of Economics and Business, Universitat Pompeu Fabra.
  39. Ayyagari, Meghana & Demirguc-Kunt, Asli & Maksimovic, Vojislav, 2012. "Financing of firms in developing countries : lessons from research," Policy Research Working Paper Series 6036, The World Bank.
  40. Cline, Brandon N. & Garner, Jacqueline L. & Yore, Adam S., 2014. "Exploitation of the internal capital market and the avoidance of outside monitoring," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 234-250.
  41. Martijn Cremers & Rocco Huang & Zacharias Sautner, 2008. "Internal Capital Markets and Corporate Politics in a Banking Group," Yale School of Management Working Papers amz2464, Yale School of Management, revised 01 Oct 2009.
  42. Erickson, Timothy & Whited, Toni M., 2005. "Proxy-quality thresholds: Theory and applications," Finance Research Letters, Elsevier, vol. 2(3), pages 131-151, September.
  43. Lins, Karl V. & Servaes, Henri & Tufano, Peter, 2010. "What drives corporate liquidity? An international survey of cash holdings and lines of credit," Journal of Financial Economics, Elsevier, vol. 98(1), pages 160-176, October.
  44. Brown, Jason L. & Fisher, Joseph G. & Sooy, Matthew & Sprinkle, Geoffrey B., 2014. "The effect of rankings on honesty in budget reporting," Accounting, Organizations and Society, Elsevier, vol. 39(4), pages 237-246.
  45. Alexander Plekhanov & Sergei Guriev & Konstantin Sonin, 2009. "Development based on commodity revenues," Working Papers 108, European Bank for Reconstruction and Development, Office of the Chief Economist.
  46. Steve Thompson, 1999. "Increasingly Marginal Utilities: Diversification and Free Cash Flow in Newly Privatized UK Utilities," Review of Industrial Organization, Springer, vol. 15(1), pages 25-42, August.
  47. Owen Lamont & Christopher Polk, 2000. "Does Diversification Destroy Value? Evidence From Industry Shocks," NBER Working Papers 7803, National Bureau of Economic Research, Inc.
  48. Alessandro Tampieri, 2011. "Why Do Superstars Exist? Talent, Fame and Power," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 1, March.
  49. Alex Coad, 2008. "Distance to Frontier and Appropriate Business Strategy," LEM Papers Series 2008/13, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  50. Chen, Shimin & Sun, Zheng & Tang, Song & Wu, Donghui, 2011. "Government intervention and investment efficiency: Evidence from China," Journal of Corporate Finance, Elsevier, vol. 17(2), pages 259-271, April.
  51. Lambie, N. Ross, 2009. "The role of real options analysis in the design of a greenhouse gas emissions trading scheme," 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia 47626, Australian Agricultural and Resource Economics Society.
  52. Marco Mazzoli, 2004. "Investments, financial structure and insiders' control of the cash-flow: an intertemporal discrete-time framework and a qualitative analysis," Money Macro and Finance (MMF) Research Group Conference 2003 61, Money Macro and Finance Research Group.
  53. Borja Larrain, 2004. "Financial development, financial constraints, and the volatility of industrial output," Public Policy Discussion Paper 04-6, Federal Reserve Bank of Boston.
  54. Uchino, Taisuke, 2013. "Bank dependence and financial constraints on investment: Evidence from the corporate bond market paralysis in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 29(C), pages 74-97.
  55. Tobias Schmidt & Michael J. Dowling & Christian Lechner, 2006. "The Impact of Initial Public Offerings on the External Growth Strategies of Entrepreneurial Firms," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 11(2), pages 95-110, Summer.
  56. Marco Mazzoli, 2005. "Investments, financial structure and imperfect financial markets: An intertemporal discrete-time framework," The European Journal of Finance, Taylor & Francis Journals, vol. 11(3), pages 247-258.
  57. Alderson, Michael J. & Betker, Brian L., 2009. "Were internal capital markets affected by the 'perfect' pension storm?," Journal of Corporate Finance, Elsevier, vol. 15(2), pages 257-271, April.
  58. George A. Akerlof, 2007. "The Missing Motivation in Macroeconomics," American Economic Review, American Economic Association, vol. 97(1), pages 5-36, March.
  59. Mark G. Duggan, 2000. "Hospital Ownership And Public Medical Spending," The Quarterly Journal of Economics, MIT Press, vol. 115(4), pages 1343-1373, November.
  60. Freinkman, Lev & Plekhanov, Alexander, 2005. "What determines the extent of fiscal decentralization ? The Russian paradox," Policy Research Working Paper Series 3710, The World Bank.
  61. Biddle, Gary C. & Hilary, Gilles & Verdi, Rodrigo S., 2009. "How does financial reporting quality relate to investment efficiency?," Journal of Accounting and Economics, Elsevier, vol. 48(2-3), pages 112-131, December.
  62. Samuel, Cherian, 1996. "Internal finance and investment : another look," Policy Research Working Paper Series 1663, The World Bank.
  63. Lockhart, G. Brandon, 2014. "Credit lines and leverage adjustments," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 274-288.
  64. Evangelina Dardati & Julio Riutort, 2013. "Financial Constraints and Investment: A Quasi-Experiment in the Electricity Sector," ILADES-Georgetown University Working Papers inv293, Ilades-Georgetown University, Universidad Alberto Hurtado/School of Economics and Bussines.
  65. Freinkman, Lev & Plekhanov, Alexander, 2009. "Fiscal Decentralization in Rentier Regions: Evidence from Russia," World Development, Elsevier, vol. 37(2), pages 503-512, February.
  66. Tornell, Aaron & Lane, Philip R., 1998. "Are windfalls a curse?: A non-representative agent model of the current account," Journal of International Economics, Elsevier, vol. 44(1), pages 83-112, February.
  67. Xu, Pisun (Tracy), 2013. "Managerial incentives and a firm's cash flow sensitivities," International Review of Economics & Finance, Elsevier, vol. 27(C), pages 80-96.
  68. Jain, Bharat A. & Li, Joanne & Shao, Yingying, 2013. "Governance, product market competition and cash management in IPO firms," Journal of Banking & Finance, Elsevier, vol. 37(6), pages 2052-2068.
  69. Joseph Farrell & Severin Borenstein, 2000. "Is Cost-Cutting Evidence of X-Inefficiency?," American Economic Review, American Economic Association, vol. 90(2), pages 224-227, May.
  70. Kusnadi, Yuanto, 2011. "Do corporate governance mechanisms matter for cash holdings and firm value?," Pacific-Basin Finance Journal, Elsevier, vol. 19(5), pages 554-570, November.
  71. Alessandro Fiaschi, 2009. "Managerial discretion and optimal financing policies with cash flow uncertainty," Working Papers 3, Doctoral School of Economics, Sapienza University of Rome.
  72. Dwight M. Jaffee & Thomas Russell, 1996. "Catastrophe Insurance, Capital Markets and Uninsurable Risks," Center for Financial Institutions Working Papers 96-12, Wharton School Center for Financial Institutions, University of Pennsylvania.
  73. Yusuf Mohammed Nulla & Dimitris Nikolaou Koumparoulis, 2013. "CEO Compensation System in Large Canadian Financial Institutions," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 137-155.
  74. Schleicher, Thomas & Tahoun, Ahmed & Walker, Martin, 2010. "IFRS adoption in Europe and investment-cash flow sensitivity: Outsider versus insider economies," The International Journal of Accounting, Elsevier, vol. 45(2), pages 143-168, June.
  75. Lili Qiu, 2004. "Which Institutional Investors Monitor? Evidence from Acquisition Activity," Working Papers 2004-21, Brown University, Department of Economics.
  76. Taillard, Jerome Ph. A., 2008. "Thriving in the Midst of Financial Distress? An Analysis of Firms Exposed to Abestos Litigation," Working Paper Series 2008-12, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
  77. Sandip Dhole & Saleha B Khumawala & Sagarika Mishra & Tharindra Ranasinghe, . "Executive Compensation and Regulation Imposed Corporate Governance: Evidence from the California Non-Profit Integrity Act (2004)," Financial Econometics Series 2012_11, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.