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Alexander W. Butler

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Working papers

  1. Alexander W. Butler & Bruce I. Carlin & Alan D. Crane & Boyang Liu & James P. Weston, 2020. "The Value of Social Status," NBER Working Papers 27979, National Bureau of Economic Research, Inc.

    Cited by:

    1. Alexander Persaud, 2023. "A (paid) passage to India: Migration and revealed willingness to pay for upper‐caste status," Economic Inquiry, Western Economic Association International, vol. 61(3), pages 652-674, July.

  2. Mitchell Berlin & Alexander W. Butler, 2002. "Collateral and competition," Working Papers 02-22, Federal Reserve Bank of Philadelphia.

    Cited by:

    1. Luis Araujo & Raoul Minetti, 2012. "Credit Crunches, Asset Prices and Technological Change," Working Papers CASMEF 1204, Dipartimento di Economia e Finanza, LUISS Guido Carli.
    2. Hainz, Christa & Weill, Laurent & Godlewski, Christophe J., 2008. "Bank competition and collateral: theory and evidence," Bank of Finland Research Discussion Papers 27/2008, Bank of Finland.
    3. Hainz, Christa, 2007. "The Effect of Bank Competition on the Bank's Incentive to Collateralize," Discussion Papers in Economics 2007, University of Munich, Department of Economics.
    4. Hainz, Christa, 2008. "Bank Competition - When is it Good?," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 244, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    5. Dias Duarte, Fábio & Matias Gama, Ana Paula & Paulo Esperança, José, 2017. "Collateral-based in SME lending: The role of business collateral and personal collateral in less-developed countries," Research in International Business and Finance, Elsevier, vol. 39(PA), pages 406-422.
    6. Degryse, Hans & Ongena, Steven, 2007. "The impact of competition on bank orientation," Journal of Financial Intermediation, Elsevier, vol. 16(3), pages 399-424, July.
    7. Yaldız Hanedar, Elmas & Broccardo, Eleonora & Bazzana, Flavio, 2014. "Collateral requirements of SMEs: The evidence from less-developed countries," Journal of Banking & Finance, Elsevier, vol. 38(C), pages 106-121.
    8. Giovanni Dell'Ariccia & Robert Marquez, 2006. "Lending Booms and Lending Standards," Journal of Finance, American Finance Association, vol. 61(5), pages 2511-2546, October.
    9. Ravn, Søren Hove, 2016. "Endogenous credit standards and aggregate fluctuations," Journal of Economic Dynamics and Control, Elsevier, vol. 69(C), pages 89-111.

  3. Mitchell Berlin & Alexander W. Butler, 1996. "Public versus private debt: confidentiality, control, and product markets," Working Papers 96-17, Federal Reserve Bank of Philadelphia.

    Cited by:

    1. Jean-Daniel Guigou & Laurent Vilanova, 1999. "Les vertus du financement bancaire: fondements et limites," Revue Finance Contrôle Stratégie, revues.org, vol. 2(2), pages 97-133, June.

Articles

  1. Butler, Alexander W. & Yi, Hanyi, 2022. "Aging and public financing costs: Evidence from U.S. municipal bond markets," Journal of Public Economics, Elsevier, vol. 211(C).

    Cited by:

    1. Farrell, Michael & Murphy, Dermot & Painter, Marcus & Zhang, Guangli, 2023. "The complexity yield puzzle: A textual analysis of municipal bond disclosures," Working Papers 338, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
    2. Cheng, Stephanie F. & De Franco, Gus & Lin, Pengkai, 2023. "Marijuana liberalization and public finance: A capital market perspective on the passage of medical use laws," Journal of Accounting and Economics, Elsevier, vol. 75(1).
    3. Lu, Runjing & Ye, Zihan, 2023. "Roe v. Rates: Reproductive Healthcare and Public Financing Costs," SocArXiv 7t5jz, Center for Open Science.

  2. Butler, Alexander W. & Carlin, Bruce I. & Crane, Alan D. & Liu, Boyang & Weston, James P., 2021. "The value of social status," Economics Letters, Elsevier, vol. 206(C).
    See citations under working paper version above.
  3. Berger, Elizabeth A. & Butler, Alexander W. & Hu, Edwin & Zekhnini, Morad, 2021. "Financial integration and credit democratization: Linking banking deregulation to economic growth," Journal of Financial Intermediation, Elsevier, vol. 45(C).

    Cited by:

    1. Hasan, Iftekhar & Krause, Thomas & Manfredonia, Stefano & Noth, Felix, 2022. "Banking market deregulation and mortality inequality," Bank of Finland Research Discussion Papers 14/2022, Bank of Finland.
    2. Hazwan Haini & Lutfi Abdul Razak & Pang Wei Loon & Sufrizul Husseini, 2023. "Re-examining the finance–institutions–growth nexus: does financial integration matter?," Economic Change and Restructuring, Springer, vol. 56(3), pages 1895-1924, June.
    3. Lucas Avezum, 2021. "Assessment of the effectiveness of the macroprudential measures implemented in the context of the Covid-19 pandemic," Working Papers w202107, Banco de Portugal, Economics and Research Department.
    4. Milsom, Luke & Pažitka, Vladimír & Roland, Isabelle & Wójcik, Dariusz, 2023. "The gravity of syndication ties in international equity underwriting," Bank of England working papers 1021, Bank of England.
    5. Hasman, Augusto & Samartín, Margarita, 2023. "Government intervention, linkages and financial fragility," Economic Modelling, Elsevier, vol. 126(C).
    6. Rudkin, Wanling & Cai, Charlie X., 2023. "Information content of sustainability index recomposition: A synthetic portfolio approach," International Review of Financial Analysis, Elsevier, vol. 88(C).

  4. Butler, Alexander W. & Fauver, Larry & Spyridopoulos, Ioannis, 2019. "Local Economic Spillover Effects of Stock Market Listings," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 54(3), pages 1025-1050, June.

    Cited by:

    1. Dimitrios Gounopoulos & Georgios Loukopoulos & Panagiotis Loukopoulos, 2021. "CEO education and the ability to raise capital," Corporate Governance: An International Review, Wiley Blackwell, vol. 29(1), pages 67-99, January.
    2. Sorenson, Olav & Kwon, Doris, 2019. "The Silicon Valley Syndrome," SocArXiv zug2s, Center for Open Science.
    3. Agoraki, Maria-Eleni K. & Gounopoulos, Dimitrios & Kouretas, Georgios P., 2022. "U.S. banks’ IPOs and political money contributions," Journal of Financial Stability, Elsevier, vol. 63(C).
    4. Barney Hartman‐Glaser & Mark Thibodeau & Jiro Yoshida, 2023. "Cash to spend: IPO wealth and house prices," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(1), pages 68-102, January.
    5. Brian Asquith, 2019. "Do Rent Increases Reduce the Housing Supply Under Rent Control? Evidence from Evictions in San Francisco," Upjohn Working Papers 19-296, W.E. Upjohn Institute for Employment Research.

  5. Butler, Alexander W. & Keefe, Michael O'Connor & Kieschnick, Robert, 2014. "Robust determinants of IPO underpricing and their implications for IPO research," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 367-383.

    Cited by:

    1. James, Kevin R. & Valenzuela, Marcela, 2020. "The efficient IPO market hypothesis: theory and evidence," LSE Research Online Documents on Economics 104020, London School of Economics and Political Science, LSE Library.
    2. Takahashi, Hidenori & Yamakawa, Yasuhiro & Mathew, Prem G., 2018. "Board members' influence on resource investments to start-ups and IPO outcomes: Does prior affiliation matter?," Pacific-Basin Finance Journal, Elsevier, vol. 49(C), pages 30-42.
    3. Lehmann, Timo & Weber, Matthias, 2021. "IPO Underpricing and Aftermarket Price Accuracy: Auctions vs. Bookbuilding in Japan," SocArXiv sa385, Center for Open Science.
    4. Cumming, Douglas & Köchling, Gerrit & Neukirchen, Daniel & Posch, Peter, 2022. "Does Corporate Culture Influence IPO Pricing?," VfS Annual Conference 2022 (Basel): Big Data in Economics 264105, Verein für Socialpolitik / German Economic Association.
    5. Fouad Jamaani & Manal Alidarous, 2023. "Does the appointment of the three musketeers reduce IPO underpricing? global evidence," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 13(4), pages 887-929, December.
    6. Colak, Gonul & Gounopoulos, Dimitrios & Loukopoulos, Panagiotis & Loukopoulos, Georgios, 2021. "Tournament incentives and IPO failure risk," Journal of Banking & Finance, Elsevier, vol. 130(C).
    7. Karel Doubravský & Alena Kocmanová & Mirko Dohnal, 2018. "Analysis of Sustainability Decision Trees Generated by Qualitative Models Based on Equationless Heuristics," Sustainability, MDPI, vol. 10(7), pages 1-18, July.
    8. Hanafi, Mamduh M., 2021. "Fixed price and book building methods in an exogenous environment: Evidence from Indonesia stock market," Research in International Business and Finance, Elsevier, vol. 58(C).
    9. Yoshiaki Ogura, 2017. "The Certification Role Of Pre-IPO Banking Relationships: Evidence From IPO Underpricing in Japan," The Japanese Economic Review, Japanese Economic Association, vol. 68(2), pages 257-278, June.
    10. Gori, Leonella & Teti, Emanuele & Loi, Andrea & Dallocchio, Maurizio, 2020. "Seasonal darkness and IPO," Journal of Economic Behavior & Organization, Elsevier, vol. 178(C), pages 494-508.
    11. Samdani, Taufique, 2019. "Anchor-backed IPOs, reported earnings, and heterogeneous investors' beliefs," Journal of Corporate Finance, Elsevier, vol. 59(C), pages 72-87.
    12. Óscar Afonso & Carlos Pinto & Paulo Beleza Vasconcelos, 2021. "Intra-Industry Trade: Economies of Scale Revisited," Notas Económicas, Faculty of Economics, University of Coimbra, issue 52, pages 53-73, July.
    13. Vismara, Silvio & Signori, Andrea & Paleari, Stefano, 2015. "Changes in underwriters' selection of comparable firms pre- and post-IPO: Same bank, same company, different peers," Journal of Corporate Finance, Elsevier, vol. 34(C), pages 235-250.
    14. Wei-Bin Zhang, 2021. "Global Knowledge and Wealth with National Human Capital and Free Trade," Notas Económicas, Faculty of Economics, University of Coimbra, issue 52, pages 75-98, july.
    15. James, Kevin R. & Valenzuela, Marcela, 2019. "The efficient IPO market hypothesis: theory and evidence," LSE Research Online Documents on Economics 118934, London School of Economics and Political Science, LSE Library.
    16. Nuno Silva & Hélder Sebastião & Diogo Henriques, 2020. "IPO patterns in Euronext after the global financial crisis of 2007-2008," CeBER Working Papers 2020-15, Centre for Business and Economics Research (CeBER), University of Coimbra.
    17. Baxamusa, Mufaddal & Jalal, Abu, 2018. "Industry networks and IPO waves," Journal of Banking & Finance, Elsevier, vol. 88(C), pages 129-146.
    18. Jamaani, Fouad & Ahmed, Abdullahi D., 2020. "Simultaneous effects of clustering and endogeneity on the underpricing difference of IPO firms: A global evidence," Research in International Business and Finance, Elsevier, vol. 54(C).
    19. Ranganathan, Kavitha & Saraogi, Aayush, 2021. "What explains voluntary premarket underpricing and aftermarket mispricing in Indian IPOs?," Journal of Behavioral and Experimental Finance, Elsevier, vol. 32(C).
    20. Katsafados, Apostolos G. & Androutsopoulos, Ion & Chalkidis, Ilias & Fergadiotis, Manos & Leledakis, George N. & Pyrgiotakis, Emmanouil G., 2020. "Textual Information and IPO Underpricing: A Machine Learning Approach," MPRA Paper 103813, University Library of Munich, Germany.
    21. Chourou, Lamia & Saadi, Samir & Zhu, Hui, 2018. "How does national culture influence IPO underpricing?," Pacific-Basin Finance Journal, Elsevier, vol. 51(C), pages 318-341.
    22. Nino Fonseca, 2021. "Tourism Resources, Tourism Specialization and Economic Growth," Notas Económicas, Faculty of Economics, University of Coimbra, issue 52, pages 113-135, july.
    23. Panos N. Patatoukas & Richard G. Sloan & Annika Yu Wang, 2022. "Valuation Uncertainty and Short-Sales Constraints: Evidence from the IPO Aftermarket," Management Science, INFORMS, vol. 68(1), pages 608-634, January.
    24. Nguyen Van Tan & Ninh Thi Trang, 2023. "The long-run performance of initial public offerings: evidence from a transition economy," Afro-Asian Journal of Finance and Accounting, Inderscience Enterprises Ltd, vol. 13(5), pages 574-591.
    25. Naudé, Wim & Cameron, Martin, 2020. "Export-Led Growth after COVID-19: The Case of Portugal," IZA Discussion Papers 13875, Institute of Labor Economics (IZA).
    26. Daniel Murta, 2021. "Autonomous Vehicles and Public Transportation," Notas Económicas, Faculty of Economics, University of Coimbra, issue 53, pages 103-121, December.
    27. Colak, Gonul & Gounopoulos, Dimitrios & Loukopoulos, Panagiotis & Loukopoulos, Georgios, 2021. "Political power, local policy uncertainty and IPO pricing," Journal of Corporate Finance, Elsevier, vol. 67(C).
    28. He, Liyu & Hsin-han Shen, Carl & Shiu, Cheng-Yi, 2022. "Is fair value information fairly priced? Evidence from IPOs in global capital markets✰," Journal of Banking & Finance, Elsevier, vol. 135(C).
    29. Clarke, Jonathan & Khurshed, Arif & Pande, Alok & Singh, Ajai K., 2016. "Sentiment traders & IPO initial returns: The Indian evidence," Journal of Corporate Finance, Elsevier, vol. 37(C), pages 24-37.
    30. Boulton, Thomas J. & Campbell, T. Colin, 2016. "Managerial confidence and initial public offerings," Journal of Corporate Finance, Elsevier, vol. 37(C), pages 375-392.
    31. Aleksandar Zdravkov Vasilev, 2021. "How Quantitatively Important are the Shocks to the Time Endowment for Business Cycle Fluctuations? Lessons Learnt From Bulgaria (1999-2018)," Notas Económicas, Faculty of Economics, University of Coimbra, issue 52, pages 99-112, july.
    32. Mauer, David C. & Wang, Song & Wang, Xiao & Zhang, Yilei, 2015. "Global diversification and IPO returns," Journal of Banking & Finance, Elsevier, vol. 58(C), pages 436-456.
    33. Wang, Yanyu & You, Qinghua & Qiao, Yuanbo, 2022. "Political genes drive innovation: Political endorsements and low-quality innovation," Structural Change and Economic Dynamics, Elsevier, vol. 60(C), pages 407-417.
    34. Rathnayake, Dilesha Nawadali & Louembé, Pierre Axel & Kassi, Diby François & Sun, Gang & Ning, Ding, 2019. "Are IPOs underpriced or overpriced? Evidence from an emerging market," Research in International Business and Finance, Elsevier, vol. 50(C), pages 171-190.
    35. Nugroho Sasikirono & Sumiati Sumiati & Nur Khusniyah Indrawati, 2018. "Underpricing and long-term market performance of initial public offerings in Indonesia: A quantile regression approach," Business and Economic Horizons (BEH), Prague Development Center, vol. 14(1), pages 152-167, January.

  6. Alexander W. Butler & Umit G. Gurun, 2012. "Educational Networks, Mutual Fund Voting Patterns, and CEO Compensation," The Review of Financial Studies, Society for Financial Studies, vol. 25(8), pages 2533-2562.

    Cited by:

    1. Yin, Meiqun & Zhang, Jidong & Han, Jing, 2020. "Impact of CEO-board social ties on accounting conservatism: Internal control quality as a mediator," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).
    2. Fuchs, Florian & Fuess, Roland & Jenkinson, Tim & Morkoetter, Stefan, 2017. "Winning a Deal in Private Equity: Do Educational Networks Matter?," Working Papers on Finance 17155, University of St. Gallen, School of Finance.
    3. Calluzzo, Paul & Dong, Gang Nathan, 2014. "Fund governance contagion: New evidence on the mutual fund governance paradox," Journal of Corporate Finance, Elsevier, vol. 28(C), pages 83-101.
    4. Togan Egrican, Aslı, 2021. "Overlapping board connections with banker directors and corporate loan terms: Evidence from syndicated loans," Global Finance Journal, Elsevier, vol. 50(C).
    5. Junho Park, 2022. "We are advertis’d by our loving friends: CEO‐connected directors," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(3), pages 3189-3238, September.
    6. Fuchs, Florian & Füss, Roland & Jenkinson, Tim & Morkoetter, Stefan, 2021. "Winning a deal in private equity: Do educational ties matter?," Journal of Corporate Finance, Elsevier, vol. 66(C).
    7. Duan, Ying & Jiao, Yawen & Tam, Kinsun, 2021. "Conflict of interest and proxy voting by institutional investors," Journal of Corporate Finance, Elsevier, vol. 70(C).
    8. Jiekun Huang, 2023. "Thy Neighbor’s Vote: Peer Effects in Proxy Voting," Management Science, INFORMS, vol. 69(7), pages 4169-4189, July.
    9. Jing, Wei & Zhang, Xueyong, 2021. "Online social networks and corporate investment similarity," Journal of Corporate Finance, Elsevier, vol. 68(C).
    10. Li, Xuan, 2023. "Home bias in shareholder voting," Discussion Papers 2023/21, Norwegian School of Economics, Department of Business and Management Science.
    11. Bolton, Patrick & Li, Tao & Ravina, Enrichetta & Rosenthal, Howard, 2020. "Investor ideology," Journal of Financial Economics, Elsevier, vol. 137(2), pages 320-352.
    12. Stephen G. Dimmock & William C. Gerken & Zoran Ivković & Scott J. Weisbenner, 2014. "Capital Gains Lock-In and Governance Choices," NBER Working Papers 20176, National Bureau of Economic Research, Inc.
    13. Calluzzo, Paul & Kedia, Simi, 2019. "Mutual fund board connections and proxy voting," Journal of Financial Economics, Elsevier, vol. 134(3), pages 669-688.
    14. Muhammad Ali Jibran Qamar & Faisal Khalil & Waheed Akhtar, 2016. "Corporate Governance Culture Transmission in Mutual Funds: Directors as Vector of Transmission," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 6(2), pages 175-183, April.
    15. Wenqing Wu & Kexin Yu & Chien-Chi Chu & Jie Zhou & Hong Xu & Sang-Bing Tsai, 2018. "Diffusion of Corporate Philanthropy in Social and Political Network Environments: Evidence from China," Sustainability, MDPI, vol. 10(6), pages 1-17, June.
    16. Fang, Yiwei & Francis, Bill & Hasan, Iftekhar, 2012. "More than connectedness: Heterogeneity of CEO social network and firm value," Bank of Finland Research Discussion Papers 26/2012, Bank of Finland.
    17. Milosevic, Miona, 2018. "Skills or networks? Success and fundraising determinants in a low performing venture capital market," Research Policy, Elsevier, vol. 47(1), pages 49-60.
    18. Crane, Alan D. & Koch, Andrew & Michenaud, Sébastien, 2019. "Institutional investor cliques and governance," Journal of Financial Economics, Elsevier, vol. 133(1), pages 175-197.
    19. Wang, Xianjue, 2022. "Disloyal managers and proxy voting," Finance Research Letters, Elsevier, vol. 44(C).
    20. Wang, Xiaoxiao, 2023. "Bank affiliation and mutual funds’ trading strategy distinctiveness," International Review of Financial Analysis, Elsevier, vol. 88(C).
    21. Inderjit Kaur, 2017. "Performance of Equity Mutual Fund and Educational Credentials of Fund Manager," Vision, , vol. 21(1), pages 23-34, March.
    22. Chen, Jean J. & Cheng, Xinsheng & Gong, Stephen X. & Tan, Youchao, 2014. "Do higher value firms voluntarily disclose more information? Evidence from China," The British Accounting Review, Elsevier, vol. 46(1), pages 18-32.
    23. Lépine, Andrea & Estevan, Fernanda, 2021. "Do ability peer effects matter for academic and labor market outcomes?," Labour Economics, Elsevier, vol. 71(C).
    24. Ding, Haoyuan & Hu, Yichuan & Kim, Kenneth A. & Xie, Mi, 2023. "Relationship-based debt financing of Chinese private sector firms: The role of social connections to banks versus political connections," Journal of Corporate Finance, Elsevier, vol. 78(C).
    25. Cerqueti, Roy & Ciciretti, Rocco & Dalò, Ambrogio & Nicolosi, Marco, 2022. "A new measure of the resilience for networks of funds with applications to socially responsible investments," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 593(C).
    26. Florian Fuchs & Roland Füss & Tim Jenkisnon & Stefan Morkoetter, 2018. "Should Investors Care Where Private Equity Managers Went To School?," Working Papers on Finance 1806, University of St. Gallen, School of Finance.
    27. Sitthipongpanich, Thitima & Polsiri, Piruna, 2015. "Do CEO and board characteristics matter? A study of Thai family firms," Journal of Family Business Strategy, Elsevier, vol. 6(2), pages 119-129.
    28. Kuang, Yu Flora & Lee, Gladys, 2017. "Corporate fraud and external social connectedness of independent directors," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 401-427.
    29. Faia, Ester & Mayer, Maximilian & Pezone, Vincenzo, 2020. "The Value of Firm Networks: A Natural Experiment on Board Connections," CEPR Discussion Papers 14591, C.E.P.R. Discussion Papers.
    30. Bodnaruk, Andriy & O'Brien, William & Simonov, Andrei, 2016. "Captive finance and firm's competitiveness," Journal of Corporate Finance, Elsevier, vol. 37(C), pages 210-228.
    31. Xu, Qiuhua & Deng, Li & Li, Sen & Huang, Wen, 2021. "Do hometown connections affect corporate governance? Evidence from Chinese Listed Companies," International Review of Economics & Finance, Elsevier, vol. 73(C), pages 290-302.
    32. Lu Li & Yang Li & Xueding Wang & Tusheng Xiao, 2020. "Structural holes and hedge fund return comovement: evidence from network‐connected stock hedge funds in China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(3), pages 2811-2841, September.
    33. Genc, Egemen & Shirley, Sara E. & Stark, Jeffrey R. & Tran, Hai, 2023. "Finding information in obvious places: Work connections and mutual fund investment ideas," Journal of Financial Markets, Elsevier, vol. 63(C).

  7. Umit G. Gurun & Alexander W. Butler, 2012. "Don't Believe the Hype: Local Media Slant, Local Advertising, and Firm Value," Journal of Finance, American Finance Association, vol. 67(2), pages 561-598, April.

    Cited by:

    1. Priyesh Valiya Purayil & Jijo Lukose P. J., 2022. "Does cross‐border acquisition reduce earnings management of emerging market acquirers? Evidence from India," International Review of Finance, International Review of Finance Ltd., vol. 22(1), pages 143-168, March.
    2. Sihai Li & Yi Quan & Gary Gang Tian & Kun Tracy Wang & Stella Huiying Wu, 2022. "Academy fellow independent directors and innovation," Asia Pacific Journal of Management, Springer, vol. 39(1), pages 103-148, March.
    3. J. Daniel Aromi, 2014. "El mercado cambiario y los contenidos en la prensa: un analisis empírico," Estudios Economicos, Universidad Nacional del Sur, Departamento de Economia, vol. 31(63), pages 3-23, july-dece.
    4. Cahan, Steven F. & Chen, Chen & Chen, Li & Nguyen, Nhut H., 2015. "Corporate social responsibility and media coverage," Journal of Banking & Finance, Elsevier, vol. 59(C), pages 409-422.
    5. Blau, Benjamin M. & DeLisle, Jared R. & Price, S. McKay, 2015. "Do sophisticated investors interpret earnings conference call tone differently than investors at large? Evidence from short sales," Journal of Corporate Finance, Elsevier, vol. 31(C), pages 203-219.
    6. Rong Gong, 2023. "How firms respond to external valuation: Evidence from the monitoring role of media," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(4), pages 4657-4681, December.
    7. Ryohei Hisano & Didier Sornette & Takayuki Mizuno & Takaaki Ohnishi & Tsutomu Watanabe, 2012. "High quality topic extraction from business news explains abnormal financial market volatility," CARF F-Series CARF-F-299, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    8. Lixiang Wang & Wendi Hou & Yupei Liu, 2023. "How do co‐shareholding networks affect negative media coverage? Evidence from China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(4), pages 4221-4249, December.
    9. Jason V. Chen & Itay Kama & Reuven Lehavy, 2019. "A contextual analysis of the impact of managerial expectations on asymmetric cost behavior," Review of Accounting Studies, Springer, vol. 24(2), pages 665-693, June.
    10. Smith, Kecia Williams, 2023. "Tell Me More: A content analysis of expanded auditor reporting in the United Kingdom," Accounting, Organizations and Society, Elsevier, vol. 108(C).
    11. Graham Beattie & Ruben Durante & Brian Knight & Ananya Sen, 2017. "Advertising Spending and Media Bias: Evidence from News Coverage of Car Safety Recalls," NBER Working Papers 23940, National Bureau of Economic Research, Inc.
    12. Umit G. Gurun & Gregor Matvos & Amit Seru, 2016. "Advertising Expensive Mortgages," Journal of Finance, American Finance Association, vol. 71(5), pages 2371-2416, October.
    13. Byun, Seong K. & Oh, Jong-Min, 2018. "Local corporate social responsibility, media coverage, and shareholder value," Journal of Banking & Finance, Elsevier, vol. 87(C), pages 68-86.
    14. Bannigidadmath, Deepa & Narayan, Paresh Kumar, 2021. "Economic news and the cross-section of commodity futures returns," Journal of Behavioral and Experimental Finance, Elsevier, vol. 31(C).
    15. Koulikidou, Kleopatra & Chantziaras, Antonios & Dedoulis, Emmanouil & Leventis, Stergios, 2023. "Regulatory enforcement, foreignness, and language negativity: Evidence from SEC comment letters," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 51(C).
    16. Vera Brenčič, 2016. "The impact of Craigslist’s entry on competing employment websites," IZA Journal of Labor Economics, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 5(1), pages 1-15, December.
    17. Jin, Zhi & Yang, Yinan & Zhang, Liguang, 2021. "Geographic proximity and cross-region merger and acquisitions: Evidence from the opening of high-speed rail in China," Pacific-Basin Finance Journal, Elsevier, vol. 68(C).
    18. Narayan, Paresh Kumar & Bannigidadmath, Deepa, 2021. "Financial news and CDS spreads," Journal of Behavioral and Experimental Finance, Elsevier, vol. 29(C).
    19. Lesage , Cédric & Stolowy , Hervé & Cohen , Jeffrey & Ding , Yuan, 2015. "Media Bias and the Persistence of the Expectation Gap: An Analysis of Press Articles on Corporate Fraud," HEC Research Papers Series 1105, HEC Paris.
    20. Yi Li & Dehua Shen & Pengfei Wang & Wei Zhang, 2021. "Investor reactions to local and overseas news: Evidence from A‐ and H‐shares in China," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 4190-4225, July.
    21. Hao, Yamin & Li, Shuo, 2021. "Does firm visibility matter to debtholders? Evidence from credit ratings," Advances in accounting, Elsevier, vol. 52(C).
    22. Gambaro, Marco & Puglisi, Riccardo, 2015. "What do ads buy? Daily coverage of listed companies on the Italian press," European Journal of Political Economy, Elsevier, vol. 39(C), pages 41-57.
    23. Huixiang Zeng & Tao Zhang & Zhifang Zhou & Yang Zhao & Xiaohong Chen, 2020. "Water disclosure and firm risk: Empirical evidence from highly water‐sensitive industries in China," Business Strategy and the Environment, Wiley Blackwell, vol. 29(1), pages 17-38, January.
    24. Liang, Ting & Zhang, Yue-Jun & Qiang, Wei, 2022. "Does technological innovation benefit energy firms’ environmental performance? The moderating effect of government subsidies and media coverage," Technological Forecasting and Social Change, Elsevier, vol. 180(C).
    25. Marco GAMBARO & Riccardo PUGLISI, 2009. "What do ads buy? Daily coverage of listed companies on the Italian press," Departmental Working Papers 2009-36, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    26. Xie, Xin & Zhang, Wenjie, 2023. "Impacts of CSR on the efficiency of Chinese enterprises' Outward FDI," Finance Research Letters, Elsevier, vol. 57(C).
    27. Narayan, Paresh Kumar, 2019. "Can stale oil price news predict stock returns?," Energy Economics, Elsevier, vol. 83(C), pages 430-444.
    28. Jiexiang Huang & Helen Roberts & Eric K. M. Tan, 2022. "The media and CEO dominance," International Review of Finance, International Review of Finance Ltd., vol. 22(1), pages 5-35, March.
    29. Gregory S. Miller & Douglas J. Skinner, 2015. "The Evolving Disclosure Landscape: How Changes in Technology, the Media, and Capital Markets Are Affecting Disclosure," Journal of Accounting Research, Wiley Blackwell, vol. 53(2), pages 221-239, May.
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    1. James R. Brown & J Anthony Cookson & Rawley Heimer, 2017. "Growing Up without Finance," Working Papers (Old Series) 1704, Federal Reserve Bank of Cleveland.
    2. Nuri Ersahin, 2018. "Creditor Rights, Technology Adoption, and Productivity: Plant-Level Evidence," Working Papers 18-20, Center for Economic Studies, U.S. Census Bureau.
    3. Florentina Melnic & Daniel Juravle, 2020. "Governance And Access To Finance," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 25, pages 151-168, June.
    4. Bircan, Cagatay & de Haas, R., 2015. "The Limits of Lending : Banks and Technology Adoption Across Russia," Discussion Paper 2015-011, Tilburg University, Center for Economic Research.
    5. Oliver Levine & Missaka Warusawitharana, 2014. "Finance and Productivity Growth: Firm-level Evidence," Finance and Economics Discussion Series 2014-17, Board of Governors of the Federal Reserve System (U.S.).
    6. Jeremiah Harris & William O'Brien, 2022. "Do U.S. firms disguise acquisitions to avoid taxes?," The Financial Review, Eastern Finance Association, vol. 57(1), pages 95-127, February.
    7. Wang, Wei & Wang, Hua & Wu, Ji (George), 2021. "Mixed ownership reform and corporate tax avoidance: Evidence of Chinese listed firms," Pacific-Basin Finance Journal, Elsevier, vol. 69(C).
    8. Fiaz Ahmad Sulehri & Muhammad Zahid Naeem, 2018. "The Role of Commercial Banks in Determining the Industrial Productivity in Pakistan:A Time Series Analysis," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 7(4), pages 185-196, December.
    9. Sotirios Kokas & Dmitri Vinogradov & Marios Zachariadis, 2018. "Which Banks Smooth and at What Price?," Working Papers 2018_03, Business School - Economics, University of Glasgow.
    10. Minjia Chen & Alessandra Guariglia, 2011. "Financial constraints and firm productivity in China: do liquidity and export behavior make a difference?," Discussion Papers 11/09, University of Nottingham, GEP.
    11. Jérémie BERTRAND & Laurent WEILL, 2022. "Too Sunny to Borrow: Sunshine and Borrower Discouragement," Working Papers of LaRGE Research Center 2022-05, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
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    30. Mohammed Alyakoob & Mohammad S. Rahman & Zaiyan Wei, 2021. "Where You Live Matters: Local Bank Competition, Online Marketplace Lending, and Disparity in Borrower Benefits," Information Systems Research, INFORMS, vol. 32(4), pages 1390-1411, December.
    31. Francis OSEI-TUTU & Laurent WEILL, 2020. "Does Access to Credit Come with Access to Voting? Democracy and Firm Financing Constraints," Working Papers of LaRGE Research Center 2020-04, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    32. Senay Agca & Pablo Slutzky & Stefan Zeume, 2021. "Anti-Money Laundering Enforcement, Banks, and the Real Economy," Working Papers 2021-20, The George Washington University, Institute for International Economic Policy.
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    34. Osei-Tutu, Francis & Weill, Laurent, 2022. "Bank efficiency and access to credit: International evidence," Economic Systems, Elsevier, vol. 46(3).
    35. Lin William Cong & Sabrina T. Howell, 2021. "Policy Uncertainty and Innovation: Evidence from Initial Public Offering Interventions in China," Management Science, INFORMS, vol. 67(11), pages 7238-7261, November.
    36. Chen, Minjia & Guariglia, Alessandra, 2013. "Internal financial constraints and firm productivity in China: Do liquidity and export behavior make a difference?," Journal of Comparative Economics, Elsevier, vol. 41(4), pages 1123-1140.
    37. Florian Léon & Laurent Weill, 2021. "Elections Hinder Firms' Access to Credit," Working Papers hal-03462407, HAL.
    38. Giammario Impullitti & Richard Kneller & Danny McGowan, 2017. "Demand-driven technical change and productivity growth: Evidence from the US Energy Policy Act," Discussion Papers 2017-07, University of Nottingham, GEP.
    39. Ahamed, M. Mostak & Mallick, Sushanta K., 2019. "Is financial inclusion good for bank stability? International evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 157(C), pages 403-427.
    40. Mai Huong Giang & Bui Huy Trung & Yuichiro Yoshida & Tran Dang Xuan & Mai Thanh Que, 2019. "The Causal Effect of Access to Finance on Productivity of Small and Medium Enterprises in Vietnam," Sustainability, MDPI, vol. 11(19), pages 1-19, October.
    41. Fujun Lai & Sha Zhu & Qingxiang Feng & Yi Yao, 2021. "Effects of Financial Market Information on Firms’ Productivity Under Operating Pressure and Financial Constraints: Evidence From the Chinese Stock Market," SAGE Open, , vol. 11(4), pages 21582440211, November.
    42. Francesco Manaresi & Nicola Pierri, 2018. "Credit supply and productivity growth," Temi di discussione (Economic working papers) 1168, Bank of Italy, Economic Research and International Relations Area.
    43. Shangmei Zhao & Jiang He & Haijun Yang, 2018. "Population Ageing, Financial Deepening and Economic Growth: Evidence from China," Sustainability, MDPI, vol. 10(12), pages 1-15, December.
    44. Ferrando, Annalisa & Rossi, Stefania P. S. & Bonanno, Graziella, 2020. "Determinants of firms’ efficiency: do innovations and finance constraints matter? The case of European SMEs," Working Paper Series 2419, European Central Bank.
    45. Nuri Ersahin, 2017. "Creditor Rights, Technology Adoption, and Productivity: Plant-Level Evidence," Working Papers 17-36, Center for Economic Studies, U.S. Census Bureau.
    46. Ma, Lina & Iqbal, Najaf & Bouri, Elie & Zhang, Yang, 2023. "How good is green finance for green innovation? Evidence from the Chinese high-carbon sector," Resources Policy, Elsevier, vol. 85(PB).
    47. Cornaggia, Jess, 2013. "Does risk management matter? Evidence from the U.S. agricultural industry," Journal of Financial Economics, Elsevier, vol. 109(2), pages 419-440.
    48. Abderazak Bakhouche, 2022. "Assessing the Innovation-finance Nexus for SMEs: Evidence from the Arab Region (MENA)," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(3), pages 1875-1895, September.
    49. Dominik Gutt & Philipp Herrmann & Mohammad S. Rahman, 2019. "Crowd-Driven Competitive Intelligence: Understanding the Relationship Between Local Market Competition and Online Rating Distributions," Information Systems Research, INFORMS, vol. 30(3), pages 980-994, September.
    50. Gustafson, Matthew T. & Iliev, Peter, 2017. "The effects of removing barriers to equity issuance," Journal of Financial Economics, Elsevier, vol. 124(3), pages 580-598.
    51. Krishnan Dandapani & Edward R. Lawrence & Jodonnis Rodriguez, 2018. "Determinants of Transactional Internet Banking," Journal of Financial Services Research, Springer;Western Finance Association, vol. 54(2), pages 243-267, October.
    52. Lin Tian & Liang Han & Biao Mi, 2020. "Bank competition, information specialization and innovation," Review of Quantitative Finance and Accounting, Springer, vol. 54(3), pages 1011-1035, April.
    53. Xinghe Liu & Enxian Wang & Danting Cai, 2018. "Environmental Regulation and Corporate Financing—Quasi-Natural Experiment Evidence from China," Sustainability, MDPI, vol. 10(11), pages 1-22, November.
    54. Cornaggia, Jess & Mao, Yifei & Tian, Xuan & Wolfe, Brian, 2015. "Does banking competition affect innovation?," Journal of Financial Economics, Elsevier, vol. 115(1), pages 189-209.
    55. Junxiu Sun & Feng Wang & Haitao Yin & Rui Zhao, 2022. "Death or rebirth? How small‐ and medium‐sized enterprises respond to responsible investment," Business Strategy and the Environment, Wiley Blackwell, vol. 31(4), pages 1749-1762, May.
    56. Francesco Manaresi & Nicola Pierri, 2018. "Credit supply and productivity growth," BIS Working Papers 711, Bank for International Settlements.
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    58. Dominik Gutt & Philipp Herrmann & Mohammad S. Rahman, 2018. "Crowd-Driven Competitive Intelligence: Understanding the Relationship Between Local Market Competition and Online Rating Distributions," Working Papers Dissertations 41, Paderborn University, Faculty of Business Administration and Economics.
    59. Graziella Bonanno & Annalisa Ferrando & Stefania Patrizia Sonia Rossi, 2023. "Do innovation and financial constraints affect the profit efficiency of European enterprises?," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 13(1), pages 57-86, March.
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  9. Butler, Alexander W. & Cornaggia, Jess & Grullon, Gustavo & Weston, James P., 2011. "Corporate financing decisions, managerial market timing, and real investment," Journal of Financial Economics, Elsevier, vol. 101(3), pages 666-683, September.

    Cited by:

    1. Hafezali Iqbal Hussain, 2014. "Do Firms Time the Equity Market in a Non-Linear Manner? Evidence from the UK," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 8(4), pages 63-74.
    2. Ting Wang & Rujun Wang & Hua Zhang, 2022. "Does Industrial Policy Reduce Corporate Investment Efficiency? Evidence from China," Sustainability, MDPI, vol. 15(1), pages 1-23, December.
    3. Dong, Ming & Hirshleifer, David & Teoh, Siew Hong, 2012. "Overvalued equity and financing decisions," MPRA Paper 40221, University Library of Munich, Germany.
    4. Lu Zhang, 2017. "The Investment CAPM," NBER Working Papers 23226, National Bureau of Economic Research, Inc.
    5. Tetiana Davydiuk & Scott Richard & Ivan Shaliastovich & Amir Yaron, 2023. "How Risky Are U.S. Corporate Assets?," Journal of Finance, American Finance Association, vol. 78(1), pages 141-208, February.
    6. Konan Chan & Nandkumar Nayar & Ajai K. Singh & Wen Yu, 2018. "Information Content of Offer Date Revelations: A Fresh Look at Seasoned Equity Offerings," Financial Management, Financial Management Association International, vol. 47(3), pages 519-552, September.
    7. Fischer, Mario, 2017. "The source of financing in mergers and acquisitions," The Quarterly Review of Economics and Finance, Elsevier, vol. 65(C), pages 227-239.
    8. Pengjie Gao & Dong Lou, "undated". "Cross-Market Timing in Security Issuance," FMG Discussion Papers dp718, Financial Markets Group.
    9. Kisser, Michael & Rapushi, Loreta, 2022. "Equity issues, creditor control and market timing patterns: Evidence from leverage decreasing recapitalizations," Journal of Empirical Finance, Elsevier, vol. 67(C), pages 196-216.
    10. Adachi-Sato, Meg & Vithessonthi, Chaiporn, 2019. "Corporate debt maturity and future firm performance volatility," International Review of Economics & Finance, Elsevier, vol. 60(C), pages 216-237.
    11. Gustafson, Matthew T. & Iliev, Peter, 2017. "The effects of removing barriers to equity issuance," Journal of Financial Economics, Elsevier, vol. 124(3), pages 580-598.
    12. Ulrike Malmendier, 2018. "Behavioral Corporate Finance," NBER Working Papers 25162, National Bureau of Economic Research, Inc.
    13. Huang, Yuan & Lam, F.Y. Eric C. & Wei, K.C. John, 2014. "The q-theory explanation for the external financing effect: New evidence," Journal of Banking & Finance, Elsevier, vol. 49(C), pages 69-81.
    14. Jiyoon Lee, 2021. "Information Asymmetry, Mispricing, and Security Issuance," Journal of Finance, American Finance Association, vol. 76(6), pages 3401-3446, December.
    15. Nguyen, Justin Hung & Phan, Hieu V., 2020. "Carbon risk and corporate capital structure," Journal of Corporate Finance, Elsevier, vol. 64(C).
    16. Lewis, Craig M. & Tan, Yongxian, 2016. "Debt-equity choices, R&D investment and market timing," Journal of Financial Economics, Elsevier, vol. 119(3), pages 599-610.
    17. Azi Ben-Rephael & Jacob Oded & Avi Wohl, 2014. "Do Firms Buy Their Stock at Bargain Prices? Evidence from Actual Stock Repurchase Disclosures," Review of Finance, European Finance Association, vol. 18(4), pages 1299-1340.
    18. Li, Shengfeng & Hoque, Hafiz & Liu, Jia, 2023. "Investor sentiment and firm capital structure," Journal of Corporate Finance, Elsevier, vol. 80(C).
    19. Li, Shengfeng & Hoque, Hafiz & Thijssen, Jacco, 2021. "Firm financial behaviour dynamics and interactions: A structural vector autoregression approach," Journal of Corporate Finance, Elsevier, vol. 69(C).

  10. Alexander W. Butler & Hong Wan, 2010. "Stock Market Liquidity and the Long-run Stock Performance of Debt Issuers," The Review of Financial Studies, Society for Financial Studies, vol. 23(11), pages 3966-3995, November.

    Cited by:

    1. Bradley, Daniel & Pantzalis, Christos & Yuan, Xiaojing, 2016. "Policy risk, corporate political strategies, and the cost of debt," Journal of Corporate Finance, Elsevier, vol. 40(C), pages 254-275.
    2. He, Qing & Li, Dongxu & Lu, Liping & Chong, Terence Tai Leung, 2017. "Institutional Ownership and Private Equity Placements: Evidence from Chinese Listed Firms," MPRA Paper 92035, University Library of Munich, Germany.
    3. Bill Francis & Iftekhar Hasan & Suresh Babu Mani & An Yan, 2016. "Externality of Stock Liquidity to the Cost of Borrowing," BAFFI CAREFIN Working Papers 1642, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    4. Panayides, Photis M. & Lambertides, Neophytos & Cullinane, Kevin, 2013. "Liquidity risk premium and asset pricing in US water transportation," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 52(C), pages 3-15.
    5. Bessembinder, Hendrik & Zhang, Feng, 2013. "Firm characteristics and long-run stock returns after corporate events," Journal of Financial Economics, Elsevier, vol. 109(1), pages 83-102.
    6. Chen, Jiayuan & Gong, Di & Muckley, Cal, 2020. "Stock market illiquidity, bargaining power and the cost of borrowing," Journal of Empirical Finance, Elsevier, vol. 58(C), pages 181-206.
    7. Kalak, Izidin El & Azevedo, Alcino & Hudson, Robert & Karim, Mohamad Abd, 2017. "Stock liquidity and SMEs’ likelihood of bankruptcy: Evidence from the US market," Research in International Business and Finance, Elsevier, vol. 42(C), pages 1383-1393.
    8. Lin, Ji-Chai & Wu, YiLin, 2013. "SEO timing and liquidity risk," Journal of Corporate Finance, Elsevier, vol. 19(C), pages 95-118.
    9. Tang, Dragon Yongjun & Zhang, Yupu, 2020. "Do shareholders benefit from green bonds?," Journal of Corporate Finance, Elsevier, vol. 61(C).
    10. Alexander W. Butler & Xiang Gao & Cihan Uzmanoglu, 2021. "Financial Innovation and Financial Intermediation: Evidence from Credit Default Swaps," Management Science, INFORMS, vol. 67(5), pages 3150-3173, May.

  11. Alexander W. Butler & Larry Fauver & Sandra Mortal, 2009. "Corruption, Political Connections, and Municipal Finance," The Review of Financial Studies, Society for Financial Studies, vol. 22(7), pages 2673-2705, July.

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    1. Hsien-Yi Chen & Sheng-Syan Chen, 2023. "Can credit default swaps exert an enduring monitoring influence on political integrity?," Review of Quantitative Finance and Accounting, Springer, vol. 60(2), pages 445-469, February.
    2. Dougal, Casey & Gao, Pengjie & Mayew, William J. & Parsons, Christopher A., 2019. "What’s in a (school) name? Racial discrimination in higher education bond markets," Journal of Financial Economics, Elsevier, vol. 134(3), pages 570-590.
    3. Ali Nejadmalayeri & Sheri Faircloth & Jeanne Wendel & Surya Chelikani, 2017. "GASB mandatory disclosure rules and municipal bond yield spreads," Review of Quantitative Finance and Accounting, Springer, vol. 49(2), pages 379-405, August.
    4. Andreas Hoepner & Lisa Schopohl, 2015. "Red versus Blue: Do Political Dimensions Influence the Investment Preferences of State Pension Funds?," ICMA Centre Discussion Papers in Finance icma-dp2015-06, Henley Business School, University of Reading.
    5. Hinh Khieu & Nam H. Nguyen & Hieu V. Phan & Jon A. Fulkerson, 2023. "Political Corruption and Corporate Risk-Taking," Journal of Business Ethics, Springer, vol. 184(1), pages 93-113, April.
    6. Gunther Capelle-Blancard & Patricia Crifo & Marc-Arthur Diaye & Rim Oueghlissi & Bert Scholtens, 2017. "Environmental, Social and Governance (ESG) performance and sovereign bond spreads: an empirical analysis of OECD countries," Working Papers hal-04141666, HAL.
    7. Chen, Donghua & Guan, Yuyan & Zhang, Tianyu & Zhao, Gang, 2017. "Political connection of financial intermediaries: Evidence from China's IPO market," Journal of Banking & Finance, Elsevier, vol. 76(C), pages 15-31.
    8. Butler, Alexander W. & Yi, Hanyi, 2022. "Aging and public financing costs: Evidence from U.S. municipal bond markets," Journal of Public Economics, Elsevier, vol. 211(C).
    9. Choi, Jaehyuk & Lu, Lei & Park, Heungju & Sohn, Sungbin, 2022. "The financial value of the within-government political network: Evidence from Chinese municipal corporate bonds," Finance Research Letters, Elsevier, vol. 47(PA).
    10. Serkan Karadas & Nilufer Ozdemir, 2023. "Does Public Corruption Affect Bank Failures? Evidence from the United States," JRFM, MDPI, vol. 16(10), pages 1-20, October.
    11. Stefano Colonnello & Matthias Efing & Francesca Zucchi, 2016. "Empty Creditors and Strong Shareholders: The Real Effects of Credit Risk Trading," Swiss Finance Institute Research Paper Series 16-17, Swiss Finance Institute, revised Jun 2016.
    12. Ivan T. Ivanov & Tom Zimmermann, 2023. "The “Privatization” of Municipal Debt," Working Paper Series WP 2023-30, Federal Reserve Bank of Chicago.
    13. Chen, Hsuan-Chi & Hao, (Grace) Qing, 2011. "Insider trading law enforcement and gross spreads of ADR IPOs," Journal of Banking & Finance, Elsevier, vol. 35(8), pages 1907-1917, August.
    14. Jackowicz, Krzysztof & Kozłowski, Łukasz & Podgórski, Błażej & Winkler-Drews, Tadeusz, 2020. "Do political connections shield from negative shocks? Evidence from rating changes in advanced emerging economies," Journal of Financial Stability, Elsevier, vol. 51(C).
    15. Ivan T. Ivanov & Tom Zimmermann & Nathan Heinrich, 2022. "Limits of Disclosure Regulation in the Municipal Bond Market," ECONtribute Discussion Papers Series 186, University of Bonn and University of Cologne, Germany.
    16. Chen, Xia & Jiang, Xuejun & Lu, Louise Yi & Yu, Yangxin, 2021. "Local political corruption and Firm's non-GAAP reporting," Journal of Corporate Finance, Elsevier, vol. 70(C).
    17. Nguyen, Nam H. & Phan, Hieu V. & Simpson, Thuy, 2020. "Political corruption and mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 65(C).
    18. Chen, Zhiwei & Li, Zhaoyuan & Liu, Sibo, 2022. "The price of political polarization: Evidence from municipal issuers during the coronavirus pandemic," Finance Research Letters, Elsevier, vol. 47(PB).
    19. Shailer, Greg & Wang, Kun, 2015. "Government ownership and the cost of debt for Chinese listed corporations," Emerging Markets Review, Elsevier, vol. 22(C), pages 1-17.
    20. Kim, Chansog (Francis) & Pantzalis, Christos & Chul Park, Jung, 2012. "Political geography and stock returns: The value and risk implications of proximity to political power," Journal of Financial Economics, Elsevier, vol. 106(1), pages 196-228.
    21. Cheng, Stephanie F. & De Franco, Gus & Lin, Pengkai, 2023. "Marijuana liberalization and public finance: A capital market perspective on the passage of medical use laws," Journal of Accounting and Economics, Elsevier, vol. 75(1).
    22. Nerissa C. Brown & Jared D. Smith & Roger M. White & Chad J. Zutter, 2021. "Political Corruption and Firm Value in the U.S.: Do Rents and Monitoring Matter?," Journal of Business Ethics, Springer, vol. 168(2), pages 335-351, January.
    23. Wu, Jiamei & Chen, Zhibin & Guo, Chong, 2022. "How does anti-corruption affect green innovation? Evidence from China," Economic Analysis and Policy, Elsevier, vol. 73(C), pages 405-424.
    24. Guo, Jing & Wang, Yanan & Yang, Wei, 2021. "China's anti-corruption shock and resource reallocation in the energy industry," Energy Economics, Elsevier, vol. 96(C).
    25. Ahsan Habib & Mabel D' Costa & Ahmed Khamis Al‐Hadi, 2023. "Consequences of local social norms: A review of the literature in accounting, finance, and corporate governance," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(1), pages 3-45, March.
    26. Hossain, Ashrafee Tanvir & Hossain, Takdir & Kryzanowski, Lawrence, 2021. "Political corruption and corporate payouts," Journal of Banking & Finance, Elsevier, vol. 123(C).
    27. Du, Qingjie & Heo, Yuna, 2022. "Political corruption, Dodd–Frank whistleblowing, and corporate investment," Journal of Corporate Finance, Elsevier, vol. 73(C).
    28. Ashrafee Tanvir Hossain & Lawrence Kryzanowski, 2021. "Political corruption shielding and corporate acquisitions," The Financial Review, Eastern Finance Association, vol. 56(1), pages 55-83, February.
    29. Smimou, K., 2014. "International portfolio choice and political instability risk: A multi-objective approach," European Journal of Operational Research, Elsevier, vol. 234(2), pages 546-560.
    30. Apergis, Emmanuel & Apergis, Nicholas, 2017. "US political corruption: Identifying the channels of bribes for firms' financial policies," International Review of Financial Analysis, Elsevier, vol. 54(C), pages 87-94.
    31. Joel F. Houston & Liangliang Jiang & Chen Lin & Yue Ma, 2014. "Political Connections and the Cost of Bank Loans," Journal of Accounting Research, Wiley Blackwell, vol. 52(1), pages 193-243, March.
    32. Alex Annan Abakah, 2020. "Local religious beliefs and municipal bond market outcomes," Financial Management, Financial Management Association International, vol. 49(2), pages 447-471, June.
    33. Huang, Chia-Wei & Lin, Chih-Yen & Lin, Wen-Chun & Tsai, Yun-Ching, 2022. "Corruption transfer and acquisition performance," Journal of Banking & Finance, Elsevier, vol. 135(C).
    34. El Ghoul, Sadok & Guedhami, Omrane & Wei, Zuobao & Zhu, Yicheng, 2023. "Does public corruption affect analyst forecast quality?," Journal of Banking & Finance, Elsevier, vol. 154(C).
    35. Hossain, Ashrafee Tanvir & Kryzanowski, Lawrence, 2021. "Political corruption and Corporate Social Responsibility (CSR)," Journal of Behavioral and Experimental Finance, Elsevier, vol. 31(C).
    36. Liu, Chun & Chen, Yang & Li, Shanmin & Sun, Liang & Yang, Mengjie, 2021. "Local political corruption and M&As," China Economic Review, Elsevier, vol. 69(C).
    37. Park, SeHyun, 2023. "Profitability of politically corrupt firms: Evidence from Romania," Emerging Markets Review, Elsevier, vol. 54(C).
    38. Hongkang Xu & Mai Dao & Jia Wu, 2019. "The effect of local political corruption on earnings quality," Review of Quantitative Finance and Accounting, Springer, vol. 53(2), pages 551-574, August.
    39. Wu, Yanling & Tian, Gary Gang, 2021. "Public relations expenditure, media tone, and regulatory decisions," Journal of Corporate Finance, Elsevier, vol. 66(C).
    40. Fang Yao & Kai Zhao & Xiaoyu Xu & Wenfei Liu, 2022. "Can Corruption Facilitate Industrial Structure Upgrade in China? The Moderating Role of Government-Business Relationships," SAGE Open, , vol. 12(3), pages 21582440221, September.
    41. Mohamed Lamine MBENGUE, 2013. "Does Corruption Increase the risk Premium on the West African Economic Monetary Union (WAEMU) Bond Market?," Information Management and Business Review, AMH International, vol. 5(3), pages 129-135.
    42. Robin Chen & Chia‐Wei Huang & Chih‐Yung Lin, 2022. "Board corruption and loan contracts," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(9-10), pages 1929-1956, October.
    43. Sinha, Avik & Gupta, Monika & Shahbaz, Muhammad & Sengupta, Tuhin, 2019. "Impact of Corruption in Public Sector on Environmental Quality: Implications for Sustainability in BRICS and Next 11 Countries," MPRA Paper 94357, University Library of Munich, Germany, revised 05 Jun 2019.
    44. Colonnello, Stefano & Efing, Matthias & Zucchi, Francesca, 2019. "Shareholder bargaining power and the emergence of empty creditors," Journal of Financial Economics, Elsevier, vol. 134(2), pages 297-317.
    45. Smith, Jared D., 2016. "US political corruption and firm financial policies," Journal of Financial Economics, Elsevier, vol. 121(2), pages 350-367.
    46. Nishant Dass & Vikram Nanda & Steven Chong Xiao, 2021. "Geographic Clustering of Corruption in the United States," Journal of Business Ethics, Springer, vol. 173(3), pages 577-597, October.
    47. Gao, Pengjie & Lee, Chang & Murphy, Dermot, 2019. "Municipal borrowing costs and state policies for distressed municipalities," Journal of Financial Economics, Elsevier, vol. 132(2), pages 404-426.
    48. Kang, Jun-Koo & Luo, Juan & Na, Hyun Seung, 2018. "Are institutional investors with multiple blockholdings effective monitors?," Journal of Financial Economics, Elsevier, vol. 128(3), pages 576-602.
    49. Ambrocio, Gene & Gu, Xian & Hasan, Iftekhar & Politsidis, Panagiotis, 2020. "The Diplomacy Discount in Global Syndicated Loans," MPRA Paper 103608, University Library of Munich, Germany.
    50. Sunghoon Joo & Dong H. Kim & Jung Chul Park, 2020. "Does local political support influence financial markets? A study on the impact of job approval ratings of political representatives on local stock returns," The Financial Review, Eastern Finance Association, vol. 55(2), pages 247-276, May.
    51. Yang, Hao & Zhang, Qiusheng & Zhao, Xiaofang & Wang, Zhongchao, 2022. "Does political corruption affect mergers and acquisitions decisions? Evidence from China," International Review of Economics & Finance, Elsevier, vol. 78(C), pages 248-266.
    52. Lijun Ma & Xin Wang & Che Zhang, 2021. "Does Religion Shape Corporate Cost Behavior?," Journal of Business Ethics, Springer, vol. 170(4), pages 835-855, May.
    53. Ashrafee Tanvir Hossain & Lawrence Kryzanowski & Xiao Bing Ma, 2020. "U.S. Political Corruption And Loan Pricing," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 43(3), pages 459-489, August.
    54. Duyvesteyn, Johan & Martens, Martin & Verwijmeren, Patrick, 2016. "Political risk and expected government bond returns," Journal of Empirical Finance, Elsevier, vol. 38(PA), pages 498-512.
    55. Chantziaras, Antonios & Dedoulis, Emmanouil & Grougiou, Vassiliki & Leventis, Stergios, 2020. "The impact of religiosity and corruption on CSR reporting: The case of U.S. banks," Journal of Business Research, Elsevier, vol. 109(C), pages 362-374.
    56. Hongxian Zhang & Liang Guo & Maggie Hao, 2018. "Corruption, governance, and public pension funds," Review of Quantitative Finance and Accounting, Springer, vol. 51(4), pages 883-919, November.
    57. Gao, Pengjie & Lee, Chang & Murphy, Dermot, 2020. "Financing dies in darkness? The impact of newspaper closures on public finance," Journal of Financial Economics, Elsevier, vol. 135(2), pages 445-467.
    58. Tran, Nhu & Uzmanoglu, Cihan, 2023. "Reprint of: COVID-19, lockdowns, and the municipal bond market," Journal of Banking & Finance, Elsevier, vol. 147(C).
    59. Peisen Liu & Shoujun Huang & Houjian Li, 2018. "Bank Concentration and Firms' Debt Structure: Evidence from China," Annals of Economics and Finance, Society for AEF, vol. 19(1), pages 213-227, May.
    60. Xuejun Jiang & Louise Lu, 2021. "How do US investors perceive the risk of local political corruption? Evidence from acquisition announcement," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(1), pages 885-912, March.
    61. Viral V. Acharya & Cecilia Parlatore & Suresh Sundaresan, 2022. "Financing Infrastructure in the Shadow of Expropriation," NBER Working Papers 30131, National Bureau of Economic Research, Inc.
    62. Ucar, Erdem & Staer, Arsenio, 2020. "Local corruption and corporate social responsibility," Journal of Business Research, Elsevier, vol. 116(C), pages 266-282.
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    64. Ambrocio, Gene & Gu, Xian & Hasan, Iftekhar, 2022. "Political ties and raising capital in global markets: Evidence from Yankee bonds," Journal of Corporate Finance, Elsevier, vol. 74(C).
    65. Li, Guangzi & Chan, Kam C., 2021. "Anti-corruption intensity and loan contracting: Evidence from non-state owned firms in China," Emerging Markets Review, Elsevier, vol. 49(C).
    66. Neiva de Figueiredo, João, 2013. "Are corruption levels accurately identified? The case of U.S. states," Journal of Policy Modeling, Elsevier, vol. 35(1), pages 134-149.
    67. Zhaohua Li & Xiaofei Pan, 2023. "Relationship investment and local corruption environment: Evidence from China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(4), pages 4597-4628, December.
    68. Tima T. Moldogaziev & Sharon N. Kioko & W. Bartley Hildreth, 2017. "Impact of Bankruptcy Eligibility Requirements and Statutory Liens on Borrowing Costs," Public Budgeting & Finance, Wiley Blackwell, vol. 37(4), pages 47-73, December.
    69. Tran, Nhu & Uzmanoglu, Cihan, 2022. "COVID-19, lockdowns, and the municipal bond market," Journal of Banking & Finance, Elsevier, vol. 143(C).
    70. Pei Li & Leo Tang & Bikki Jaggi, 2018. "Social Capital and the Municipal Bond Market," Journal of Business Ethics, Springer, vol. 153(2), pages 479-501, December.
    71. Le, Anh-Tuan & Doan, Anh-Tuan, 2020. "Corruption and financial fragility of small and medium enterprises: International evidence," Journal of Multinational Financial Management, Elsevier, vol. 57.
    72. Huai Zhang & Jin Zhang, 2023. "Political corruption and accounting choices," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 50(3-4), pages 443-481, March.
    73. Capelle-Blancard, Gunther & Crifo, Patricia & Diaye, Marc-Arthur & Oueghlissi, Rim & Scholtens, Bert, 2019. "Sovereign bond yield spreads and sustainability: An empirical analysis of OECD countries," Journal of Banking & Finance, Elsevier, vol. 98(C), pages 156-169.
    74. Peisen LIU & Houjian LI & Shoujun HUANG, 2018. "Does Bank Concentration Affect Debt Maturity?," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 73-87, September.
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    76. John K. Wald & Hongxian Zhang, 2013. "Corruption, Governance, and Public Pension Funds," Working Papers 0168fin, College of Business, University of Texas at San Antonio.
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    79. Wei Jiang & Daokang Luo & Liwen W.L. Wang & Kevin Zheng Zhou, 2024. "Foreign ownership and bribery in Chinese listed firms: An institutional perspective," Post-Print hal-04432029, HAL.
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    82. Nishant Dass & Vikram Nanda & Steven Chong Xiao, 2016. "Public Corruption in the United States: Implications for Local Firms," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 5(1), pages 102-138.
    83. Qian, Ningyu, 2018. "Anti-corruption effects on the credit risk of local financing vehicles and the pricing of Chengtou bonds: Evidence from a quasi-natural experiment in China," Finance Research Letters, Elsevier, vol. 26(C), pages 162-168.

  12. Alexander W. Butler, 2008. "Distance Still Matters: Evidence from Municipal Bond Underwriting," The Review of Financial Studies, Society for Financial Studies, vol. 21(2), pages 763-784, April.

    Cited by:

    1. Knyazeva, Anzhela & Knyazeva, Diana, 2012. "Does being your bank’s neighbor matter?," Journal of Banking & Finance, Elsevier, vol. 36(4), pages 1194-1209.
    2. Dougal, Casey & Gao, Pengjie & Mayew, William J. & Parsons, Christopher A., 2019. "What’s in a (school) name? Racial discrimination in higher education bond markets," Journal of Financial Economics, Elsevier, vol. 134(3), pages 570-590.
    3. Miles Livingston & Jie (Diana) Wei & Lei Zhou, 2010. "Moody's and S&P Ratings: Are They Equivalent? Conservative Ratings and Split Rated Bond Yields," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(7), pages 1267-1293, October.
    4. Lei Zheng & Xuemeng Guo & Libin Zhao, 2021. "How Does Transportation Infrastructure Improve Corporate Social Responsibility? Evidence from High-Speed Railway Openings in China," Sustainability, MDPI, vol. 13(11), pages 1-23, June.
    5. Ali Nejadmalayeri & Sheri Faircloth & Jeanne Wendel & Surya Chelikani, 2017. "GASB mandatory disclosure rules and municipal bond yield spreads," Review of Quantitative Finance and Accounting, Springer, vol. 49(2), pages 379-405, August.
    6. Opie, Wei & Tian, Gary Gang & Zhang, Hong Feng, 2019. "Corporate pyramids, geographical distance, and investment efficiency of Chinese state-owned enterprises," Journal of Banking & Finance, Elsevier, vol. 99(C), pages 95-120.
    7. Jennie Bai & Massimo Massa, 2021. "Is Human-Interaction-based Information Substitutable? Evidence from Lockdown," NBER Working Papers 29513, National Bureau of Economic Research, Inc.
    8. Butler, Alexander W. & Yi, Hanyi, 2022. "Aging and public financing costs: Evidence from U.S. municipal bond markets," Journal of Public Economics, Elsevier, vol. 211(C).
    9. Massa, Massimo & Bai, Jennie, 2021. "Is Hard and Soft Information Substitutable? Evidence from the Lockdowns," CEPR Discussion Papers 15744, C.E.P.R. Discussion Papers.
    10. Daniel Garrett & Andrey Ordin & James W Roberts & Juan Carlos Suárez Serrato, 2023. "Tax Advantages and Imperfect Competition in Auctions for Municipal Bonds," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 90(2), pages 815-851.
    11. Gautier, Pieter & Siegmann, Arjen & van Vuuren , Aico, 2017. "Real-Estate Agent Commission Structure and Sales Performance," Working Papers in Economics 692, University of Gothenburg, Department of Economics.
    12. Ivan T. Ivanov & Tom Zimmermann, 2023. "The “Privatization” of Municipal Debt," Working Paper Series WP 2023-30, Federal Reserve Bank of Chicago.
    13. Saka, Orkun, 2018. "Domestic banks as lightning rods? Home bias and information during Eurozone crisis," LSE Research Online Documents on Economics 118921, London School of Economics and Political Science, LSE Library.
    14. Yi Xiang & Ming Jia & Zhe Zhang, 2022. "Hiding in the Crowd: Government Dependence on Firms, Management Costs of Political Legitimacy, and Modest Imitation," Journal of Business Ethics, Springer, vol. 176(4), pages 629-646, April.
    15. Koetter, Michael & Popov, Alexander, 2018. "Politics, banks, and sub-sovereign debt: Unholy trinity or divine coincidence?," Discussion Papers 53/2018, Deutsche Bundesbank.
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    17. Ongena, Steven & Popov, Alexander & Van Horen, Neeltje, 2016. "The invisible hand of the government: “Moral suasion” during the European sovereign debt crisis," Working Paper Series 1937, European Central Bank.
    18. José María Liberti & Mitchell A. Petersen, 2018. "Information: Hard and Soft," NBER Working Papers 25075, National Bureau of Economic Research, Inc.
    19. Kim, Incheol & Miller, Steve & Wan, Hong & Wang, Bin, 2016. "Drivers behind the monitoring effectiveness of global institutional investors: Evidence from earnings management," Journal of Corporate Finance, Elsevier, vol. 40(C), pages 24-46.
    20. Clemens Sialm & Zheng Sun & Lu Zheng, 2020. "Home Bias and Local Contagion: Evidence from Funds of Hedge Funds," The Review of Financial Studies, Society for Financial Studies, vol. 33(10), pages 4771-4810.
    21. Orkun Saka, 2020. "Domestic Banks As Lightning Rods? Home Bias and Information during the Eurozone Crisis," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S1), pages 273-305, October.
    22. Larcker, David F. & Watts, Edward M., 2020. "Where's the greenium?," Journal of Accounting and Economics, Elsevier, vol. 69(2).
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    25. Cornaggia, Jess & Li, Jay Yin, 2019. "The value of access to finance: Evidence from M&As," Journal of Financial Economics, Elsevier, vol. 131(1), pages 232-250.
    26. Bijlsma, Melle & Vermeulen, Robert, 2016. "Insurance companies’ trading behaviour during the European sovereign debt crisis: Flight home or flight to quality?," Journal of Financial Stability, Elsevier, vol. 27(C), pages 137-154.
    27. Sun, Liang, 2021. "Does the location of directors' additional positions matter? A new dimension of board structure," Global Finance Journal, Elsevier, vol. 49(C).
    28. Bourdeau-Brien, Michael & Kryzanowski, Lawrence, 2019. "Municipal financing costs following disasters," Global Finance Journal, Elsevier, vol. 40(C), pages 48-64.
    29. Liu, Lewis & Neupane, Suman & Zhang, Lei, 2022. "Firm location effect on underwriting, subscription, and underpricing: Evidence from IPOs in China," Economic Modelling, Elsevier, vol. 108(C).
    30. Zhu, Qifei, 2021. "Capital supply and corporate bond issuances: Evidence from mutual fund flows," Journal of Financial Economics, Elsevier, vol. 141(2), pages 551-572.
    31. Tykvová, Tereza & Schertler, Andrea, 2011. "Cross-border venture capital flows and local ties: Evidence from developed countries," The Quarterly Review of Economics and Finance, Elsevier, vol. 51(1), pages 36-48, February.
    32. Sumit Agarwal & Brent W. Ambrose & Souphala Chomsisengphet & Chunlin Liu, 2011. "The Role of Soft Information in a Dynamic Contract Setting: Evidence from the Home Equity Credit Market," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(4), pages 633-655, June.
    33. Giannetti, Mariassunta & Laeven, Luc, 2011. "The Flight Home Effect: Evidence from the Syndicated Loan Market During Financial Crises," CEPR Discussion Papers 8337, C.E.P.R. Discussion Papers.
    34. Kadapakkam, Palani-Rajan & Oliveira, Mauro, 2021. "Binding ties in the supply chain and supplier capital structure," Journal of Banking & Finance, Elsevier, vol. 130(C).
    35. Sergey S. Barabanov & Onem Ozocak & Kuntara Pukthuanthong & Thomas J. Walker, 2013. "Underwriters And The Broken Chinese Wall: Institutional Holdings And Post-Ipo Securities Litigation," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 36(4), pages 543-578, December.
    36. Massa, Massimo & Zhang, Lei, 2015. "Bank Credit Tightening, Debt Market Frictions and Corporate Yield Spreads," CEPR Discussion Papers 10537, C.E.P.R. Discussion Papers.
    37. Alex Petkevich & Andrew Prevost, 2018. "Managerial ability, information quality, and the design and pricing of corporate debt," Review of Quantitative Finance and Accounting, Springer, vol. 51(4), pages 1033-1069, November.
    38. Orkun Saka, 2019. "Domestic Banks as Lightning Rods? Home Bias and Information during the Eurozone Crisis," CESifo Working Paper Series 7939, CESifo.
    39. Stephanie F. Cheng & Christine Cuny & Hao Xue, 2023. "Disclosure and Competition for Capital," Management Science, INFORMS, vol. 69(7), pages 4312-4330, July.
    40. Houston, Joel F. & Itzkowitz, Jennifer & Naranjo, Andy, 2017. "Borrowing beyond borders: Foreign assets, lender choice, and loan pricing in the syndicated bank loan market," Journal of Corporate Finance, Elsevier, vol. 42(C), pages 315-334.
    41. Anand, Amber & Gatchev, Vladimir A. & Madureira, Leonardo & Pirinsky, Christo A. & Underwood, Shane, 2011. "Geographic proximity and price discovery: Evidence from NASDAQ," Journal of Financial Markets, Elsevier, vol. 14(2), pages 193-226, May.
    42. George D. Cashman & David M. Harrison & Michael J. Seiler & Hainan Sheng, 2019. "The Impact of Geographic and Cultural Dispersion on Information Opacity," The Journal of Real Estate Finance and Economics, Springer, vol. 59(2), pages 166-208, August.
    43. Jacquelyn R. Gillette & Delphine Samuels & Frank S. Zhou, 2020. "The Effect of Credit Ratings on Disclosure: Evidence from the Recalibration of Moody's Municipal Ratings," Journal of Accounting Research, Wiley Blackwell, vol. 58(3), pages 693-739, June.
    44. Amanda Beck & Collin Gilstrap & Jordan Rippy & Brian Vansant, 2021. "Strategic reporting by nonprofit hospitals: an examination of bad debt and charity care," Review of Accounting Studies, Springer, vol. 26(3), pages 933-970, September.
    45. Bouwman, Christa H. S., 2010. "Corporate Governance Propagation through Overlapping Directors," Working Papers 11-23, University of Pennsylvania, Wharton School, Weiss Center.
    46. Miao, Meng & Niu, Guanjie & Noe, Thomas, 2021. "Contracting without contracting institutions: The trusted assistant loan in 19th century China," Journal of Financial Economics, Elsevier, vol. 140(3), pages 987-1007.
    47. Chuluun, Tuugi & Prevost, Andrew & Upadhyay, Arun, 2017. "Firm network structure and innovation," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 193-214.
    48. Massa, Massimo & Zhang, Lei, 2021. "Bank credit tightening, debt market frictions, and corporate yield spreads," Journal of Financial Markets, Elsevier, vol. 55(C).
    49. Eduard Gaar & David Scherer & Dirk Schiereck, 2022. "The home bias and the local bias: A survey," Management Review Quarterly, Springer, vol. 72(1), pages 21-57, February.
    50. Painter, Marcus, 2020. "An inconvenient cost: The effects of climate change on municipal bonds," Journal of Financial Economics, Elsevier, vol. 135(2), pages 468-482.
    51. Francis, Bill & Hasan, Iftekhar & John, Kose & Waisman, Maya, 2012. "Urban agglomeration and CEO compensation," Bank of Finland Research Discussion Papers 17/2012, Bank of Finland.
    52. José María Liberti & Mitchell A Petersen, 2019. "Information: Hard and Soft," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 8(1), pages 1-41.
    53. Krebbers, Arthur & Marshall, Andrew & McColgan, Patrick & Neupane, Biwesh, 2021. "Bookrunner syndicate geography and the quality of service: The benefits of a local team," Journal of International Money and Finance, Elsevier, vol. 119(C).
    54. Saka, Orkun, 2019. "Domestic banks as lightning rods? Home bias and information during Eurozone crisis," Bank of Finland Research Discussion Papers 3/2019, Bank of Finland.
    55. Prevost, Andrew K. & Wongchoti, Udomsak & Marshall, Ben R., 2016. "Does institutional shareholder activism stimulate corporate information flow?," Journal of Banking & Finance, Elsevier, vol. 70(C), pages 105-117.
    56. Tran, Nhu & Uzmanoglu, Cihan, 2023. "Reprint of: COVID-19, lockdowns, and the municipal bond market," Journal of Banking & Finance, Elsevier, vol. 147(C).
    57. Lyu, Huaili & Wang, Wenming & Xu, Si & Zhou, Jingting, 2022. "Individual investment bankers’ reputation concerns and bond yield spreads: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 140(C).
    58. Galvani, Valentina & Li, Lifang, 2018. "The Momentum Effect for Canadian Corporate Bonds," Working Papers 2018-16, University of Alberta, Department of Economics.
    59. Seo, Bongman, 2011. "Geographies of Finance : Centers, Flows, and Relations," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 52(1), pages 69-86, June.
    60. Tima T. Moldogaziev & Martin J. Luby, 2016. "Too Close for Comfort: Does the Intensity of Municipal Advisor and Underwriter Relationship Impact Borrowing Costs?," Public Budgeting & Finance, Wiley Blackwell, vol. 36(3), pages 69-93, September.
    61. Marco Bade & Martin Walther, 2021. "Local preferences and the allocation of attention in equity-based crowdfunding," Review of Managerial Science, Springer, vol. 15(8), pages 2501-2533, November.
    62. Saiying Deng & David Rakowski, 2016. "Geography and Local (Dis)advantage: Evidence from Muni Bond Funds," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 6(03), pages 1-24, September.
    63. Xun Tang, 2008. "Bounds on Revenue Distributions in Counterfactual Auctions with Reserve Prices," PIER Working Paper Archive 08-042, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    64. Lau, Sie Ting & Yu, Jing, 2010. "Does proximity matter in international bond underwriting?," Journal of Banking & Finance, Elsevier, vol. 34(9), pages 2027-2041, September.
    65. Tuugi Chuluun & Andrew Prevost & John Puthenpurackal, 2014. "Board Ties and the Cost of Corporate Debt," Financial Management, Financial Management Association International, vol. 43(3), pages 533-568, September.
    66. Tran, Nhu & Uzmanoglu, Cihan, 2022. "COVID-19, lockdowns, and the municipal bond market," Journal of Banking & Finance, Elsevier, vol. 143(C).
    67. Orkun Saka, 2017. "Domestic banks as lightning rods? Home bias during the Eurozone crisis," LEQS – LSE 'Europe in Question' Discussion Paper Series 122, European Institute, LSE.
    68. Pei Li & Leo Tang & Bikki Jaggi, 2018. "Social Capital and the Municipal Bond Market," Journal of Business Ethics, Springer, vol. 153(2), pages 479-501, December.
    69. Gaspar, Jose-Miguel & Massa, Massimo, 2007. "Local ownership as private information: Evidence on the monitoring-liquidity trade-off," Journal of Financial Economics, Elsevier, vol. 83(3), pages 751-792, March.
    70. Li, Lu & Duan, Yang & He, Yuqian & Chan, Kam C., 2018. "Linguistic distance and mergers and acquisitions: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 49(C), pages 81-102.
    71. Sadok El Ghoul & Omrane Guedhami & Yang Ni & Jeffrey Pittman & Samir Saadi, 2012. "Does Religion Matter to Equity Pricing?," Journal of Business Ethics, Springer, vol. 111(4), pages 491-518, December.
    72. David C. Ling & Andy Naranjo & Benjamin Scheick, 2021. "There is no place like home: Information asymmetries, local asset concentration, and portfolio returns," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(1), pages 36-74, March.
    73. Hasan, Iftekhar & Minnick, Kristina & Raman, Kartik, 2020. "Credit allocation when borrowers are economically linked: An empirical analysis of bank loans to corporate customers," Journal of Corporate Finance, Elsevier, vol. 62(C).
    74. Chuluun, Tuugi, 2017. "Global portfolio investment network and stock market comovement," Global Finance Journal, Elsevier, vol. 33(C), pages 51-68.
    75. David C. Ling & Chongyu Wang & Tingyu Zhou, 2021. "The Geography of Real Property Information and Investment: Firm Location, Asset Location and Institutional Ownership," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(1), pages 287-331, March.
    76. Christoph Herpfer & Aksel Mjøs & Cornelius Schmidt, 2023. "The Causal Impact of Distance on Bank Lending," Management Science, INFORMS, vol. 69(2), pages 723-740, February.
    77. Lyu, Huaili & Jia, Wanjiao & Tan, Xiulin, 2023. "Individual investment banker human capital and SEO discount: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).
    78. Hollander, Stephan & Verriest, Arnt, 2016. "Bridging the gap: the design of bank loan contracts and distance," Journal of Financial Economics, Elsevier, vol. 119(2), pages 399-419.
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  13. Alexander W. Butler & Gustavo Grullon & James P. Weston, 2006. "Can Managers Successfully Time the Maturity Structure of Their Debt Issues?," Journal of Finance, American Finance Association, vol. 61(4), pages 1731-1758, August.

    Cited by:

    1. Frank, Murray Z. & Nezafat, Mahdi, 2019. "Testing the credit-market-timing hypothesis using counterfactual issuing dates," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 187-207.
    2. Robin Greenwood & Samuel G. Hanson, 2013. "Issuer Quality and Corporate Bond Returns," The Review of Financial Studies, Society for Financial Studies, vol. 26(6), pages 1483-1525.
    3. Andrea J. Heuson & Gary Painter, 2011. "The Impact of the Taxpayer Relief Act of 1997 on Housing Turnover in the U.S. Single Family Residential Market," Working Paper 8509, USC Lusk Center for Real Estate.
    4. Robin Greenwood & Samuel Hanson & Jeremy C. Stein, 2008. "A Gap-Filling Theory of Corporate Debt Maturity Choice," NBER Working Papers 14087, National Bureau of Economic Research, Inc.
    5. Butler, Alexander W. & Cornaggia, Jess & Grullon, Gustavo & Weston, James P., 2011. "Corporate financing decisions, managerial market timing, and real investment," Journal of Financial Economics, Elsevier, vol. 101(3), pages 666-683, September.
    6. Chala, Alemu Tulu, 2018. "Refinancing Risk and Debt Maturity Choice during a Financial Crisis," Working Papers 2018:33, Lund University, Department of Economics.
    7. Chang, Xin & Chen, Yunling & Dasgupta, Sudipto, 2019. "Macroeconomic conditions, financial constraints, and firms’ financing decisions," Journal of Banking & Finance, Elsevier, vol. 101(C), pages 242-255.
    8. Malcolm P. Baker & Ryan Taliaferro & Jeffrey Wurgler, 2004. "Pseudo Market Timing and Predictive Regressions," NBER Working Papers 10823, National Bureau of Economic Research, Inc.
    9. Kelly Nianyun Cai & Xiaoquan Jiang & Hei Wai Lee, 2013. "Debt Ipo Waves, Investor Sentiment, Market Conditions, And Issue Quality," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 36(4), pages 435-452, December.
    10. Barry, Christopher B. & Mann, Steven C. & Mihov, Vassil & Rodríguez, Mauricio, 2009. "Interest rate changes and the timing of debt issues," Journal of Banking & Finance, Elsevier, vol. 33(4), pages 600-608, April.
    11. António Afonso, & Manish K. Singh, 2016. "Is the supply of long-term debt independent of the term premia? Evidence from Portugal," Working Papers Department of Economics 2016/11, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    12. Ralph S.J. Koijen & Otto Van Hemert & Stijn Van Nieuwerburgh, 2007. "Mortgage Timing," NBER Working Papers 13361, National Bureau of Economic Research, Inc.
    13. Wang, Yizhong & Wang, Ting & Chen, Lifang, 2021. "Maturity mismatches of Chinese listed firms," Pacific-Basin Finance Journal, Elsevier, vol. 70(C).
    14. Erik Devos & Andrew Spieler & Desmond Tsang, 2014. "Elective Stock Dividends and REITs: Evidence from the Financial Crisis," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 42(1), pages 33-70, March.
    15. Bukalska Elżbieta & Skibińska-Fabrowska Ilona, 2023. "Corporate Investment in Bank-Dependent Companies in Crisis Time," Central European Economic Journal, Sciendo, vol. 10(57), pages 1-22, January.
    16. Pegoraro, Stefano & Montagna, Mattia, 2021. "Issuance and valuation of corporate bonds with quantitative easing," Working Paper Series 2520, European Central Bank.
    17. John A. Doukas & Jie (Michael) Guo & Bilei Zhou, 2011. "‘Hot’ Debt Markets and Capital Structure," European Financial Management, European Financial Management Association, vol. 17(1), pages 46-99, January.
    18. Andrea J. Heuson & Gary Painter, 2014. "The Impact of the Taxpayer Relief Act of 1997 on Housing Turnover in the U.S. Single-Family Residential Market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 42(4), pages 869-899, December.

  14. Alexander W. Butler & Larry Fauver, 2006. "Institutional Environment and Sovereign Credit Ratings," Financial Management, Financial Management Association, vol. 35(3), Autumn.

    Cited by:

    1. Suk‐Joong Kim & Eliza Wu, 2011. "International Bank Flows To Emerging Markets: Influence Of Sovereign Credit Ratings And Their Regional Spillover Effects," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 34(2), pages 331-364, June.
    2. Serhan Cevik & Belma Öztürkkal, 2021. "Contagion of fear: Is the impact of COVID‐19 on sovereign risk really indiscriminate?," International Finance, Wiley Blackwell, vol. 24(2), pages 134-154, August.
    3. Barclay E. James & Paul M. Vaaler, 2018. "Research in management and related fields largely assumes that host-country state (“state”) ownership in investment projects raises risk for private coinvestors. We question that assumption in theoriz," Organization Science, INFORMS, vol. 29(4), pages 653-677, August.
    4. Wüste, Sebastian, 2022. "The logics of sovereign credit ratings in developed and developing countries," Research in International Business and Finance, Elsevier, vol. 62(C).
    5. Davor Kunovac & Rafael Ravnik, 2017. "Are Sovereign Credit Ratings Overrated?," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 59(2), pages 210-242, June.
    6. Azemar, Celine & Desbordes, Rodolphe, 2010. "Short-Run Strategies For Attracting Foreign Direct Investment," SIRE Discussion Papers 2010-26, Scottish Institute for Research in Economics (SIRE).
    7. Luitel, Prabesh & Vanpée, Rosanne & De Moor, Lieven, 2016. "Pernicious effects: How the credit rating agencies disadvantage emerging markets," Research in International Business and Finance, Elsevier, vol. 38(C), pages 286-298.
    8. Cristina Bodea & Raymond Hicks, 2018. "Sovereign credit ratings and central banks: Why do analysts pay attention to institutions?," Economics and Politics, Wiley Blackwell, vol. 30(3), pages 340-365, November.
    9. Philipp Maier & Garima Vasishtha, 2008. "Good Policies or Good Fortune: What Drives the Compression in Emerging Market Spreads?," Staff Working Papers 08-25, Bank of Canada.
    10. Koerniadi, Hardjo & Krishnamurti, Chandrasekhar & Tourani-Rad, Alireza, 2015. "Cross-border mergers and acquisitions and default risk," International Review of Financial Analysis, Elsevier, vol. 42(C), pages 336-348.
    11. Markellos, Raphael N. & Psychoyios, Dimitris & Schneider, Friedrich, 2016. "Sovereign debt markets in light of the shadow economy," European Journal of Operational Research, Elsevier, vol. 252(1), pages 220-231.
    12. Makram El‐Shagi & Gregor von Schweinitz, 2022. "Why they keep missing: An empirical investigation of sovereign bond ratings and their timing," Scottish Journal of Political Economy, Scottish Economic Society, vol. 69(2), pages 186-224, May.
    13. Markus Behn & Rainer Haselmann & Jonas Sobott & Rüdiger Weber & Dorje Wulf, 2013. "Welche Aussagekraft haben Länderratings? Eine empirische Modellierung der Ratingvergabe während der europäischen Staatsschuldenkrise," Schmalenbach Journal of Business Research, Springer, vol. 65(1), pages 2-31, February.
    14. Bart H. L. Overes & Michel Wel, 2023. "Modelling Sovereign Credit Ratings: Evaluating the Accuracy and Driving Factors using Machine Learning Techniques," Computational Economics, Springer;Society for Computational Economics, vol. 61(3), pages 1273-1303, March.
    15. Antonio Afonso & Joao Tovar Jalles, 2019. "Sovereign Ratings and Finance Ministers' Characteristics," Economics Bulletin, AccessEcon, vol. 39(4), pages 2999-3010.
    16. Purificación Parrado-Martínez & Antonio Partal-Ureña & Pilar Gómez Fernández-Aguado, 2016. "Banking Soundness Indicators and Sovereign Risk in Time of Crisis: The Case of the European Union," The World Economy, Wiley Blackwell, vol. 39(8), pages 1172-1193, August.
    17. Jose E. Gomez-Gonzalez & Jorge M. Uribe & Oscar M. Valencia, 2023. "Sovereign Risk and Economic Complexity: Machine Learning Insights on Causality and Prediction," IREA Working Papers 202315, University of Barcelona, Research Institute of Applied Economics, revised Nov 2023.
    18. Afonso, António & Gomes, Pedro & Rother, Philipp, 2007. "What “hides” behind sovereign debt ratings?," Working Paper Series 711, European Central Bank.
    19. Purificacion Parrado-Martinez & Antonio Parta Ureña & Pilar Gomez Fernandez-Aguado, 2014. "Usefulness of Financial Soundness Indicators for risk assessment: The case of EU member countries," Working Papers 14.01, Universidad Pablo de Olavide, Department of Financial Economics and Accounting (former Department of Business Administration).
    20. Dilek Teker & Aynur Pala & Oya Kent, 2013. "Determination of Sovereign Rating: Factor Based Ordered Probit Models for Panel Data Analysis Modelling Framework," International Journal of Economics and Financial Issues, Econjournals, vol. 3(1), pages 122-132.
    21. Aktug, R. Erdem & Nayar, Nandkumar (Nandu) & Vasconcellos, Geraldo M., 2013. "Is sovereign risk related to the banking sector?," Global Finance Journal, Elsevier, vol. 24(3), pages 222-249.
    22. Ambrocio, Gene & Hasan, Iftekhar, 2021. "Quid pro quo? Political ties and sovereign borrowing," Journal of International Economics, Elsevier, vol. 133(C).
    23. Jelena Laušev & Aleksandar Stojanović & Nataša Todorović, 2011. "Determinants Of Debt Rescheduling In Eastern European Countries," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 56(188), pages 7-31, January –.
    24. Saurav Roychoudhury & Robert A. Lawson, 2010. "Economic freedom and sovereign credit ratings and default risk," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 2(2), pages 149-162, June.
    25. Bernal, Oscar & Girard, Alexandre & Gnabo, Jean-Yves, 2016. "The importance of conflicts of interest in attributing sovereign credit ratings," International Review of Law and Economics, Elsevier, vol. 47(C), pages 48-66.
    26. Salvador, Carlos & Pastor, Jose Manuel & Fernández de Guevara, Juan, 2014. "Impact of the subprime crisis on bank ratings: The effect of the hardening of rating policies and worsening of solvency," Journal of Financial Stability, Elsevier, vol. 11(C), pages 13-31.
    27. Owenhouse, John & Atwood, Joseph & Watts, Myles, 2020. "The Effects of Institutional Development Upon Costs of Country Level Borrowing," MSU Staff Papers 307241, Montana State University > Department of Agricultural Economics and Economics.
    28. Wang, Tong & Zhao, Sheng & Zhou, Mengqiu, 2022. "Does soft information in expert ratings curb information asymmetry? Evidence from crowdfunding and early transaction phases of Initial Coin offerings," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 81(C).
    29. Tennant, David F. & Tracey, Marlon R. & King, Damien W., 2020. "Sovereign credit rating: Evidence of bias against poor countries," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).
    30. Chen, Sheng-Syan & Chen, Hsien-Yi & Chang, Chong-Chuo & Yang, Shu-Ling, 2013. "How do sovereign credit rating changes affect private investment?," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 4820-4833.
    31. El-Shagi, Makram & von Schweinitz, Gregor, 2017. "Why they keep missing: An empirical investigation of rational inattention of rating agencies," IWH Discussion Papers 1/2017, Halle Institute for Economic Research (IWH), revised 2017.
    32. Gomez-Gonzalez, Jose E. & Uribe, Jorge M. & Valencia, Oscar, 2024. "Sovereign Risk and Economic Complexity," IDB Publications (Working Papers) 13393, Inter-American Development Bank.
    33. Zamira Oskonbaeva, 2020. "Determinants of credit ratings: evidence from panel discrete model," Economics and Business Letters, Oviedo University Press, vol. 9(3), pages 240-247.
    34. Slapnik, Ursula & Lončarski, Igor, 2021. "On the information content of sovereign credit rating reports: Improving the predictability of rating transitions☆," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 73(C).
    35. Aras, Osman Nuri & Öztürk, Mustafa, 2018. "The Effect of the Macroeconomic Determinants on Sovereign Credit Rating of Turkey," MPRA Paper 86642, University Library of Munich, Germany.
    36. Florian Berg & Paula Margaretic & Sébastien Pouget, 2016. "Sovereign Bond Spreads and Extra-Financial Performance: An Empirical Analysis of Emerging Markets," Working Papers Central Bank of Chile 789, Central Bank of Chile.
    37. Autore, Don M. & Boulton, Thomas J. & Smart, Scott B. & Zutter, Chad J., 2014. "The impact of institutional quality on initial public offerings," Journal of Economics and Business, Elsevier, vol. 73(C), pages 65-96.
    38. De Moor, Lieven & Luitel, Prabesh & Sercu, Piet & Vanpée, Rosanne, 2018. "Subjectivity in sovereign credit ratings," Journal of Banking & Finance, Elsevier, vol. 88(C), pages 366-392.
    39. María Victoria Landaberry & Kenji Nakasone & Johann Pérez & María del Pilar Posada, 2022. "A predictive model of sovereign investment grade using machine learning and natural language processing," Documentos de trabajo 2022005, Banco Central del Uruguay.
    40. Hsieh, Wen-Liang G. & Wu, Wei-Shao & Tu, Anthony H., 2022. "Religiosity and sovereign credit quality," Journal of Empirical Finance, Elsevier, vol. 68(C), pages 84-103.
    41. Emilian C. Miricescu & Lucian Ţâţu & Delia Cornea, 2016. "The Determinants of the Sovereign Debt Rating: Evidence for the European Union Countries," ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, Faculty of Economic Cybernetics, Statistics and Informatics, vol. 50(1), pages 175-188.
    42. Ambrocio, Gene & Hasan, Iftekhar, 2019. "Friends for the benefits: The effects of political ties on sovereign borrowing conditions," Bank of Finland Research Discussion Papers 13/2019, Bank of Finland.
    43. Li, Yulin, 2021. "Investor sentiment and sovereign bonds," Journal of International Money and Finance, Elsevier, vol. 115(C).
    44. Jeanneret, Alexandre, 2018. "Sovereign credit spreads under good/bad governance," Journal of Banking & Finance, Elsevier, vol. 93(C), pages 230-246.
    45. Capelle-Blancard, Gunther & Crifo, Patricia & Diaye, Marc-Arthur & Oueghlissi, Rim & Scholtens, Bert, 2019. "Sovereign bond yield spreads and sustainability: An empirical analysis of OECD countries," Journal of Banking & Finance, Elsevier, vol. 98(C), pages 156-169.
    46. Huong Dang, 2014. "How dimensions of national culture and institutional characteristics influence sovereign rating migration dynamics," ZenTra Working Papers in Transnational Studies 42 / 2014, ZenTra - Center for Transnational Studies.
    47. Margaretic, Paula & Pouget, Sébastien, 2018. "Sovereign bond spreads and extra-financial performance: An empirical analysis of emerging markets," International Review of Economics & Finance, Elsevier, vol. 58(C), pages 340-355.
    48. Choy, Swee Yew & Chit, Myint Moe & Teo, Wing Leong, 2021. "Sovereign credit ratings: Discovering unorthodox factors and variables," Global Finance Journal, Elsevier, vol. 48(C).
    49. Wei Huang & Shu Lin & Jian Yang, 2019. "Institutional quality and sovereign credit default swap spreads," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 39(6), pages 686-703, June.
    50. Emara, Noha, 2012. "Inflation volatility, financial institutions and sovereign debt rating," MPRA Paper 68688, University Library of Munich, Germany.

  15. Altintig, Z. Ayca & Butler, Alexander W., 2005. "Are they still called late? The effect of notice period on calls of convertible bonds," Journal of Corporate Finance, Elsevier, vol. 11(1-2), pages 337-350, March.

    Cited by:

    1. King, Tao-Hsien Dolly & Mauer, David C., 2014. "Determinants of corporate call policy for convertible bonds," Journal of Corporate Finance, Elsevier, vol. 24(C), pages 112-134.
    2. Adoukonou, Olivier & André, Florence & Viviani, Jean-Laurent, 2021. "The determinants of the convertible bonds call policy of Western European companies," International Review of Financial Analysis, Elsevier, vol. 73(C).
    3. Manish Tewari & Pradipkumar Ramanlal, 2022. "Risk Management and Agency Theory: Role of the Put Option in Corporate Bonds," JRFM, MDPI, vol. 15(2), pages 1-28, January.
    4. Min Dai & Yue Kwok, 2005. "Optimal policies of call with notice period requirement," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 12(4), pages 353-373, December.
    5. Grundy, Bruce D. & Veld, Chris & Verwijmeren, Patrick & Zabolotnyuk, Yuriy, 2014. "Why are conversion-forcing call announcements associated with negative wealth effects?," Journal of Corporate Finance, Elsevier, vol. 24(C), pages 149-157.
    6. Bruce D. Grundy & Patrick Verwijmeren, 2012. "Dividend-Protected Convertible Bonds and the Disappearance," Tinbergen Institute Discussion Papers 12-060/2/DSF37, Tinbergen Institute.
    7. Bajo, Emanuele & Barbi, Massimiliano, 2012. "The role of time value in convertible bond call policy," Journal of Banking & Finance, Elsevier, vol. 36(2), pages 550-563.

  16. Tom Arnold & Alexander W. Butler & Timothy Falcon Crack & Yan Zhang, 2005. "The Information Content of Short Interest: A Natural Experiment," The Journal of Business, University of Chicago Press, vol. 78(4), pages 1307-1336, July.

    Cited by:

    1. Blau, Benjamin M. & Wade, Chip, 2012. "Informed or speculative: Short selling analyst recommendations," Journal of Banking & Finance, Elsevier, vol. 36(1), pages 14-25.
    2. Choi, Darwin & Getmansky, Mila & Tookes, Heather, 2009. "Convertible bond arbitrage, liquidity externalities, and stock prices," Journal of Financial Economics, Elsevier, vol. 91(2), pages 227-251, February.
    3. Pedro A.C. Saffi & Carles Vergara‐Alert, 2020. "The Big Short: Short Selling Activity and Predictability in House Prices," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 48(4), pages 1030-1073, December.
    4. Blau, Benjamin M. & Fuller, Kathleen P. & Van Ness, Robert A., 2011. "Short selling around dividend announcements and ex-dividend days," Journal of Corporate Finance, Elsevier, vol. 17(3), pages 628-639, June.
    5. Blau, Benjamin M. & Tew, Philip L., 2014. "Short sales and class-action lawsuits," Journal of Financial Markets, Elsevier, vol. 20(C), pages 79-100.
    6. Shyu, Yih-Wen & Chan, Kam C. & Liang, Hsin-Yu, 2018. "Spillovers of price efficiency and informed trading from short sales to margin purchases in absence of uptick rule," Pacific-Basin Finance Journal, Elsevier, vol. 50(C), pages 163-183.
    7. Chung, Chune Young & Liu, Chang & Wang, Kainan, 2021. "The big picture: The industry effect of short interest," International Review of Financial Analysis, Elsevier, vol. 76(C).
    8. Blau, Benjamin M. & Van Ness, Robert A. & Warr, Richard S., 2012. "Short selling of ADRs and foreign market short-sale constraints," Journal of Banking & Finance, Elsevier, vol. 36(3), pages 886-897.
    9. Blau, Benjamin M. & Pinegar, J. Michael, 2013. "Are short sellers incrementally informed prior to earnings announcements?," Journal of Empirical Finance, Elsevier, vol. 21(C), pages 142-155.
    10. Franzoni, Francesco & Di Maggio, Marco & Massa, Massimo & Tubaldi, Roberto, 2019. "Strategic Trading as a Response to Short Sellers," CEPR Discussion Papers 13812, C.E.P.R. Discussion Papers.
    11. Gibbs, Michael & Hao, (Grace) Qing, 2018. "Short selling around the expiration of IPO share lockups," Journal of Banking & Finance, Elsevier, vol. 88(C), pages 30-43.
    12. Benjamin Blau, 2013. "Informed short sales and option introductions," Annals of Finance, Springer, vol. 9(3), pages 365-382, August.
    13. Chip Wade & Andre Liebenberg & Benjamin M. Blau, 2016. "Information and Insurer Financial Strength Ratings: Do Short Sellers Anticipate Ratings Changes?," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 83(2), pages 475-500, June.
    14. Blau, Benjamin M. & Van Ness, Bonnie F. & Van Ness, Robert A., 2009. "Information and trade sizes: The case of short sales," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(4), pages 1371-1388, November.
    15. Daniel Dupuis & Lawrence Kryzanowski, "undated". "Governance and Short Sales," Finance Working Papers 03-04/2015, School of Business Administration, American University of Sharjah.
    16. Benjamin Blau & Matthew Hill & Hao Wang, 2011. "REIT Short Sales and Return Predictability," The Journal of Real Estate Finance and Economics, Springer, vol. 42(4), pages 481-503, May.
    17. Hackney, John & Henry, Tyler R. & Koski, Jennifer L., 2020. "Arbitrage vs. informed short selling: Evidence from convertible bond issuers," Journal of Corporate Finance, Elsevier, vol. 65(C).
    18. Duan, Ying & Hu, Gang & McLean, R. David, 2010. "Costly arbitrage and idiosyncratic risk: Evidence from short sellers," Journal of Financial Intermediation, Elsevier, vol. 19(4), pages 564-579, October.
    19. Zhu, Zhaobo & Duan, Xinrui & Sun, Licheng & Tu, Jun, 2019. "Momentum and reversal: The role of short selling," Journal of Economic Dynamics and Control, Elsevier, vol. 104(C), pages 95-110.
    20. Dagmar Linnertová, 2016. "Testing of Short Sale Hypotheses on the U.S. Market in the Period from 1990 to 2015," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 64(6), pages 2025-2038.
    21. Hae Mi Choi, 2020. "Short‐sale constraints and informational efficiency to private information: A natural experiment," The Financial Review, Eastern Finance Association, vol. 55(4), pages 625-643, November.
    22. G—mez Mart’nez, Raœl & Paule Vianes, Jessica & Martínez Naval—n, Juan Gabriel, 2018. "Eficacia de las prohibiciones de las ventas en corto en Espa–a || Effectiveness of Short Sales Bans in Spain," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 26(1), pages 250-268, Diciembre.
    23. Ethan Watson & Mary C. Funck, 2012. "A cloudy day in the market: short selling behavioural bias or trading strategy," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 8(3), pages 238-255, June.
    24. Benjamin M. Blau & Bonnie F. Van Ness & Robert A. Van Ness, 2011. "Information in short selling: Comparing Nasdaq and the NYSE," Review of Financial Economics, John Wiley & Sons, vol. 20(1), pages 1-10, January.

  17. Alexander W. Butler & Gustavo Grullon & James P. Weston, 2005. "Can Managers Forecast Aggregate Market Returns?," Journal of Finance, American Finance Association, vol. 60(2), pages 963-986, April.

    Cited by:

    1. Hirshleifer, David & Jiang, Danling, 2007. "A Financing-Based Misvaluation Factor and the Cross Section of Expected Returns," MPRA Paper 20636, University Library of Munich, Germany, revised 10 Feb 2010.
    2. Huang, Yong & Uchida, Konari & Zha, Daolin, 2016. "Market timing of seasoned equity offerings with long regulative process," Journal of Corporate Finance, Elsevier, vol. 39(C), pages 278-294.
    3. Robin Greenwood & Samuel G. Hanson, 2013. "Issuer Quality and Corporate Bond Returns," The Review of Financial Studies, Society for Financial Studies, vol. 26(6), pages 1483-1525.
    4. Clark, Todd E. & McCracken, Michael W., 2015. "Nested forecast model comparisons: A new approach to testing equal accuracy," Journal of Econometrics, Elsevier, vol. 186(1), pages 160-177.
    5. Miglo, Anton, 2010. "The Pecking Order, Trade-off, Signaling, and Market-Timing Theories of Capital Structure: a Review," MPRA Paper 46691, University Library of Munich, Germany, revised 2013.
    6. Klein, Dan & Li, Mingsheng, 2009. "Factors affecting secondary share offerings in the IPO process," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(3), pages 1194-1212, August.
    7. Salisu, Afees A. & Adekunle, Wasiu & Alimi, Wasiu A. & Emmanuel, Zachariah, 2019. "Predicting exchange rate with commodity prices: New evidence from Westerlund and Narayan (2015) estimator with structural breaks and asymmetries," Resources Policy, Elsevier, vol. 62(C), pages 33-56.
    8. Chan, Konan & Ikenberry, David L. & Lee, Inmoo, 2007. "Do managers time the market? Evidence from open-market share repurchases," Journal of Banking & Finance, Elsevier, vol. 31(9), pages 2673-2694, September.
    9. Costola, Michele & Hinz, Oliver & Nofer, Michael & Pelizzon, Loriana, 2023. "Machine learning sentiment analysis, COVID-19 news and stock market reactions," Research in International Business and Finance, Elsevier, vol. 64(C).
    10. John Y. Campbell, 2008. "Viewpoint: Estimating the equity premium," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 41(1), pages 1-21, February.
    11. Butler, Alexander W. & Cornaggia, Jess & Grullon, Gustavo & Weston, James P., 2011. "Corporate financing decisions, managerial market timing, and real investment," Journal of Financial Economics, Elsevier, vol. 101(3), pages 666-683, September.
    12. Lo, Keng-Hsin & Wang, Kehluh & Liao, Tsai-Ling, 2006. "Insider transfer trading of banking companies around exchange listing," Journal of Financial Intermediation, Elsevier, vol. 15(2), pages 215-234, April.
    13. Todd E. Clark & Michael W. McCracken, 2010. "Reality checks and nested forecast model comparisons," Working Papers 2010-032, Federal Reserve Bank of St. Louis.
    14. Erik Hillebrand & Tae-Hwy Lee & Marcelo Cunha Medeiros, 2012. "Let´s do it again: bagging equity premium predictors," Textos para discussão 604, Department of Economics PUC-Rio (Brazil).
    15. Davide Pettenuzzo & Allan G. Timmermann & Rossen I. Valkanov, 2008. "Return Predictability under Equilibrium Constraints on the Equity Premium," Working Papers 37, Brandeis University, Department of Economics and International Business School.
    16. Sharma, Susan Sunila, 2016. "Can consumer price index predict gold price returns?," Economic Modelling, Elsevier, vol. 55(C), pages 269-278.
    17. Evgeny Lyandres & Le Sun & Lu Zhang, 2005. "Investment-Based Underperformance Following Seasoned Equity Offerings," NBER Working Papers 11459, National Bureau of Economic Research, Inc.
    18. Peña, Juan Ignacio & Rodríguez, Rosa, 2006. "On the economic link between asset prices and real activity," DEE - Working Papers. Business Economics. WB wb063209, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    19. Feng Li & Venky Nagar, 2013. "Diversity and Performance," Management Science, INFORMS, vol. 59(3), pages 529-544, September.
    20. Wang, Zijun & Qian, Yan & Wang, Shiwen, 2018. "Dynamic trading volume and stock return relation: Does it hold out of sample?," International Review of Financial Analysis, Elsevier, vol. 58(C), pages 195-210.
    21. Malcolm P. Baker & Ryan Taliaferro & Jeffrey Wurgler, 2004. "Pseudo Market Timing and Predictive Regressions," NBER Working Papers 10823, National Bureau of Economic Research, Inc.
    22. Salisu, Afees A. & Swaray, Raymond & Oloko, Tirimisiyu F., 2019. "Improving the predictability of the oil–US stock nexus: The role of macroeconomic variables," Economic Modelling, Elsevier, vol. 76(C), pages 153-171.
    23. Kae‐Yih Tzeng, 2023. "The ability of U.S. macroeconomic variables to predict Asian financial market returns," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(4), pages 3529-3551, October.
    24. Phan, Dinh Hoang Bach & Sharma, Susan Sunila & Narayan, Paresh Kumar, 2015. "Stock return forecasting: Some new evidence," International Review of Financial Analysis, Elsevier, vol. 40(C), pages 38-51.
    25. Trauten, Andreas & Schulz, Roland C., 2006. "IPO investment strategies and pseudo market timing," Working Papers 36, University of Münster, Competence Center Internet Economy and Hybrid Systems, European Research Center for Information Systems (ERCIS).
    26. Jennie Bai, 2010. "Equity premium predictions with adaptive macro indexes," Staff Reports 475, Federal Reserve Bank of New York.
    27. Aktas, Nihat & de Bodt, Eric & Van Oppens, Hervé, 2008. "Legal insider trading and market efficiency," Journal of Banking & Finance, Elsevier, vol. 32(7), pages 1379-1392, July.
    28. Alan Gregory & Cherif Guermat & Fawaz Al‐Shawawreh, 2010. "UK IPOs: Long Run Returns, Behavioural Timing and Pseudo Timing," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 37(5‐6), pages 612-647, June.
    29. Michael Scholz & Jens Perch Nielsen & Stefan Sperlich, 2012. "Nonparametric prediction of stock returns guided by prior knowledge," Graz Economics Papers 2012-02, University of Graz, Department of Economics.
    30. Campbell, John, 2008. "Estimating the Equity Premium," Scholarly Articles 3196339, Harvard University Department of Economics.
    31. Miglo, Anton, 2007. "Debt-equity choice as a signal of earnings profile over time," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(1), pages 69-93, March.
    32. John MacCarthy & Helena Ahulu, 2019. "Does Capital Structure Affects Firms’ Performance in Ghana? Panel Data Analysis," Accounting and Finance Research, Sciedu Press, vol. 8(4), pages 131-131, November.
    33. John Y. Campbell & Samuel B. Thompson, 2005. "Predicting the Equity Premium Out of Sample: Can Anything Beat the Historical Average?," Harvard Institute of Economic Research Working Papers 2084, Harvard - Institute of Economic Research.
    34. Chung, San-Lin & Hung, Chi-Hsiou & Yeh, Chung-Ying, 2012. "When does investor sentiment predict stock returns?," Journal of Empirical Finance, Elsevier, vol. 19(2), pages 217-240.
    35. Ahmed, Ammad & Ali, Searat, 2017. "Boardroom gender diversity and stock liquidity: Evidence from Australia," Journal of Contemporary Accounting and Economics, Elsevier, vol. 13(2), pages 148-165.
    36. Carosi, Andrea, 2016. "Do local causations matter? The effect of firm location on the relations of ROE, R&D, and firm SIZE with MARKET-TO-BOOK," Journal of Corporate Finance, Elsevier, vol. 41(C), pages 388-409.
    37. Bendig, David & Brettel, Malte & Downar, Benedikt, 2018. "Inventory component volatility and its relation to returns," International Journal of Production Economics, Elsevier, vol. 200(C), pages 37-49.
    38. Erik Devos & Andrew Spieler & Desmond Tsang, 2014. "Elective Stock Dividends and REITs: Evidence from the Financial Crisis," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 42(1), pages 33-70, March.
    39. Miglo, Anton & Wu, Congsheng, 2014. "Asymmetric Information and IPO Size," MPRA Paper 56550, University Library of Munich, Germany.
    40. Miglo, Anton, 2012. "Multi-stage investment, long-term asymmetric information and equity issues," MPRA Paper 46692, University Library of Munich, Germany.
    41. Dinh Hoang Bach Phan & Thi Thao Nguyen Nguyen & Dat Thanh Nguyen, 2019. "A Study Of Indonesia’S Stock Market: How Predictable Is It?," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 0(12th BMEB), pages 1-12, January.
    42. Khan, Kanwal Iqbal & Ghafoor, Muhammad Mudassar & Sheeraz, Muhammad & Mahmood, Shahid, 2018. "Pay or not to Pay Dividends: Company Policy and Investor Expectations," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 7(1), pages 137-157.
    43. Malcolm Baker & Richard S. Ruback & Jeffrey Wurgler, 2004. "Behavioral Corporate Finance: A Survey," NBER Working Papers 10863, National Bureau of Economic Research, Inc.
    44. Ulrike Malmendier, 2018. "Behavioral Corporate Finance," NBER Working Papers 25162, National Bureau of Economic Research, Inc.
    45. Ilona Babenko & Yuri Tserlukevich & Pengcheng Wan, 2020. "Is Market Timing Good for Shareholders?," Management Science, INFORMS, vol. 66(8), pages 3542-3560, August.
    46. Salisu, Afees A. & Isah, Kazeem & Akanni, Lateef O., 2019. "Improving the predictability of stock returns with Bitcoin prices," The North American Journal of Economics and Finance, Elsevier, vol. 48(C), pages 857-867.
    47. Jacob Boudoukh & Matthew Richardson & Robert F. Whitelaw, 2008. "The Myth of Long-Horizon Predictability," The Review of Financial Studies, Society for Financial Studies, vol. 21(4), pages 1577-1605, July.
    48. Lewis, Craig M. & Tan, Yongxian, 2016. "Debt-equity choices, R&D investment and market timing," Journal of Financial Economics, Elsevier, vol. 119(3), pages 599-610.
    49. Suk Joon Byun & Bart Frijns & Tai‐Yong Roh, 2018. "A comprehensive look at the return predictability of variance risk premia," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 38(4), pages 425-445, April.
    50. Lan, Yueqin & Huang, Yong & Yan, Chao, 2021. "Investor sentiment and stock price: Empirical evidence from Chinese SEOs," Economic Modelling, Elsevier, vol. 94(C), pages 703-714.
    51. Rapach, David & Zhou, Guofu, 2013. "Forecasting Stock Returns," Handbook of Economic Forecasting, in: G. Elliott & C. Granger & A. Timmermann (ed.), Handbook of Economic Forecasting, edition 1, volume 2, chapter 0, pages 328-383, Elsevier.
    52. Azi Ben-Rephael & Jacob Oded & Avi Wohl, 2014. "Do Firms Buy Their Stock at Bargain Prices? Evidence from Actual Stock Repurchase Disclosures," Review of Finance, European Finance Association, vol. 18(4), pages 1299-1340.
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    Cited by:

    1. Rogers Ondiba Ochenge & Rose Ngugi & Peter Muriu & David McMillan, 2020. "Foreign equity flows and stock market liquidity in Kenya," Cogent Economics & Finance, Taylor & Francis Journals, vol. 8(1), pages 1781503-178, January.
    2. Abdul Rashid & Hira Mehmood, 2017. "Liquidity and Capital Structure: The Case of Pakistani Non-Financial Firms," Economics Bulletin, AccessEcon, vol. 37(2), pages 675-685.
    3. April Knill & Bong Soo Lee, 2014. "The Volatility of Foreign Portfolio Investment and the Access to Finance of Small Listed Firms," Review of Development Economics, Wiley Blackwell, vol. 18(3), pages 524-542, August.
    4. Samarasinghe, Ama & Uylangco, Katherine, 2021. "An examination of the effect of stock market liquidity on bank market power," International Review of Financial Analysis, Elsevier, vol. 77(C).
    5. Chatterjee, Ujjal K., 2015. "Bank liquidity creation and asset market liquidity," Journal of Financial Stability, Elsevier, vol. 18(C), pages 139-153.
    6. Yao, Zhihua, 2021. "The choice of equity financing: Floating-priced warrants versus SEOs," Pacific-Basin Finance Journal, Elsevier, vol. 69(C).
    7. Andres, Christian & Cumming, Douglas & Karabiber, Timur & Schweizer, Denis, 2014. "Do markets anticipate capital structure decisions? — Feedback effects in equity liquidity," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 133-156.
    8. Stamou, Sofia C. & Huang, Winifred & Coakley, Jerry, 2020. "Serial SEOs and capital structure," International Review of Financial Analysis, Elsevier, vol. 71(C).
    9. Lee, Gemma & Masulis, Ronald W., 2009. "Seasoned equity offerings: Quality of accounting information and expected flotation costs," Journal of Financial Economics, Elsevier, vol. 92(3), pages 443-469, June.
    10. Butler, Alexander W. & Yi, Hanyi, 2022. "Aging and public financing costs: Evidence from U.S. municipal bond markets," Journal of Public Economics, Elsevier, vol. 211(C).
    11. Ali, Searat & Liu, Benjamin & Su, Jen Je, 2017. "Corporate governance and stock liquidity dimensions: Panel evidence from pure order-driven Australian market," International Review of Economics & Finance, Elsevier, vol. 50(C), pages 275-304.
    12. Huang, Chia-Wei & Ho, Po-Hsin & Lin, Chih-Yung & Yen, Ju-Fang, 2014. "Firm age, idiosyncratic risk, and long-run SEO underperformance," International Review of Economics & Finance, Elsevier, vol. 34(C), pages 246-266.
    13. Tiwari, Aviral Kumar & Abakah, Emmanuel Joel Aikins & Karikari, Nana Kwasi & Gil-Alana, Luis Alberiko, 2022. "The outbreak of COVID-19 and stock market liquidity: Evidence from emerging and developed equity markets," The North American Journal of Economics and Finance, Elsevier, vol. 62(C).
    14. Hadeel Yaseen & Ghassan Omet & Morad Abdel-Halim, 2015. "The 2008 Global Financial Crisis: The Case of a Market with Consistent Losses Ever Since," Eurasian Journal of Business and Management, Eurasian Publications, vol. 3(1), pages 8-19.
    15. K. Lebedeva, 2015. "An Empirical Analysis of the Russian Financial Markets’ Liquidity and Returns," Review of Business and Economics Studies // Review of Business and Economics Studies, Финансовый Университет // Financial University, vol. 3(3), pages 5-31.
    16. Eduardo K. Kayo & Eduardo Ottoboni Brunaldi & Dante M. Aldrighi, 2018. "Capital Structure Adjustment in Brazilian Family Firms," RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration), ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração, vol. 22(1), pages 92-114.
    17. Bhaumik, Sumon Kumar & Chakrabarty, Manisha & Kutan, Ali M. & Selarka, Ekta, 2018. "How Effective are Stock Market Reforms in Emerging Market Economies? Evidence from a Panel VAR Model of the Indian Stock Market," GLO Discussion Paper Series 290, Global Labor Organization (GLO).
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  19. Butler, Alexander W. & Huang, Pinghsun, 2003. "On the uniformity of investment banking spreads: the seven percent solution is not unique," Journal of Multinational Financial Management, Elsevier, vol. 13(3), pages 265-272, July.

    Cited by:

    1. Hsuan‐Chi Chen & Robert C. W. Fok & Yu‐Jen Wang, 2006. "Why do Underwriters Charge Low Underwriting Fees for Initial Public Offerings in Taiwan?," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 33(7‐8), pages 979-1005, September.
    2. Chen, Hsuan-Chi & Fauver, Larry & Yang, Pei-Ching, 2009. "What do investment banks charge to underwrite American Depositary Receipts?," Journal of Banking & Finance, Elsevier, vol. 33(4), pages 609-618, April.
    3. Yong, Othman, 2007. "A review of IPO research in Asia: What's next?," Pacific-Basin Finance Journal, Elsevier, vol. 15(3), pages 253-275, June.

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