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Content
March 2021, Volume 33, Issue 1
- 2-3 A Message from the Editor
by Don Chew - 8-21 Risk Capital: Theory and Applications
by Isil Erel & Stewart C. Myers & James A. Read - 22-35 Strategic Financial Management: Lessons from Seasoned Equity Offerings
by Fangjian Fu & Clifford W. Smith - 36-47 American Enterprise Institute Roundtable: Was Milton Friedman Right about Shareholder Capitalism?
by Clifford Asness & Glenn Hubbard & Martin Lipton & Michael R. Strain - 48-57 Should Shareholders Have a Say on Acquisitions?
by Marco Becht & Andrea Polo & Stefano Rossi - 58-67 Value‐Added Per Share (VAPS): A Value‐Relevant Corporate Performance Metric
by Shivaram Rajgopal & Alfred Rappaport - 68-84 The Relationship between Shareholder Return and CEO Pay over a CEO's Full Period of Service
by Ron Schmidt - 85-97 Implications of Short Selling for Corporate Finance
by Sanjay Deshmukh & Keith M. Howe & Keith Jacks Gamble - 98-110 The Pragmatic Theory of the Firm
by Bartley J. Madden - 111-120 A Practitioners’ Guide to Leverage through Downturns
by Joshua Ruben - 121-133 Making Economics More Useful: How Technological Eclecticism Could Help
by Amar Bhidé
December 2020, Volume 32, Issue 4
- 2-3 A Message from the Editor
by Don Chew - 8-16 Rethinking Macro Measurement
by James Sweeney - 17-33 The First Modern Financial Crises: The South Sea and Mississippi Bubbles in Historical Perspective
by Robert F. Bruner & Scott C. Miller - 34-43 Convergence and Reversion: China's Banking System at 70
by Carl Walter - 44-48 Apocalypse Averted: The COVID‐Caused Liquidity Trap, Dodd‐Frank, and the Fed
by Craig Pirrong - 49-67 The Poverty of Monetarism
by Patrick Bolton - 68-81 COLUMBIA BUSINESS SCHOOL ROUNDTABLE ON Broken Models of Public Finance
by Jared Bernstein & Paul B. Kazarian & Shiva Rajgopal - 82-89 COLUMBIA BUSINESS SCHOOL ROUNDTABLE ON: The Fed's Response to the Global Financial Crisis—and Now the Pandemic
by Frederic Mishkin & Patricia Mosser & Kate Davidson & Pierre Yared - 90-104 The Euro @ 20: How Economic and Financial “Asymmetries” Marred the Promise of the Single Currency
by George Alogoskoufis & Laurent Jacque - 105-116 The Benefits of Buying Distressed Assets
by Jean‐Marie Meier & Henri Servaes - 117-126 Using ESG to Enhance Fixed‐Income Returns: The Case of Inherent Group
by Nikhil Mirchandani & Chelsea Rossetti - 127-130 The Economic (Not Literary) Offenses of Michael Lewis: The Case of The Big Short and the Global Financial Crisis
by Don Chew
September 2020, Volume 32, Issue 3
- 2-3 A Message from the Editor
by Don Chew - 8-20 Private Equity: Accomplishments and Challenges
by Greg Brown & Bob Harris & Tim Jenkinson & Steve Kaplan & David Robinson - 21-42 Private Equity and Portfolio Companies: Lessons from the Global Financial Crisis
by Shai Bernstein & Josh Lerner & Filippo Mezzanotti - 43-51 Board 3.0: What the Private‐Equity Governance Model Can Offer Public Companies
by Ronald J. Gilson & Jeffrey N. Gordon - 52-72 The Growing Blessing of Unicorns: The Changing Nature of the Market for Privately Funded Companies
by Keith C. Brown & Kenneth W. Wiles - 73-86 EQT: Private Equity with a Purpose
by Robert G. Eccles & Therése Lennehag & Nina Nornholm - 87-91 Private Equity and the COVID‐19 Economic Downturn: Opportunity for Expansion?
by David Haarmeyer - 92-99 University of Texas Roundtable on LP Perspectives on the State of Private Equity
by Ken Wiles & Tom Tull & Chris Halaska & Shelby Wanstrath & Russell Valdez - 100-107 Columbia Law School Roundtable on Public Aspects of Private Equity
by Emily Mendell & Donna Hitscherich & Chris Cozzone & Aamir A. Rehman - 108-117 A CEO's Playbook for Creating Long‐Term Value: Ten Essential Resource Allocation Practices
by Harry M. Kraemer & Michael J. Mauboussin & Alfred Rappaport - 118-127 A Tale of Leadership in Value Creation
by Greg Milano - 128-136 What Public Companies Can Learn from Private Equity Pay Plans
by Stephen F. O'Byrne
June 2020, Volume 32, Issue 2
- 2-3 A Message from the Editor
by Don Chew - 10-23 China's Economy Is Not Overtaking America's
by Michael Beckley - 24-30 An Honorable Harvest: Universal Owners Must Take Responsibility for Their Portfolios
by Frederick Alexander - 31-41 Global Public‐Private Investment Partnerships: A Financing Innovation with Positive Social Impact
by Patrick Bolton & Xavier Musca & Frédéric Samama - 42-63 Columbia Law School Roundtable on The Future Of Capitalism
by Paul Collier & Colin Mayer & Alan Schwartz & Kristin Bresnahan & Steve Pearlstein - 64-71 Sustainability at Walmart: Success over the Long Haul
by Katherine Neebe - 72-77 How One Company Drives Ownership Behavior to Innovate and Create Shareholder Value: The Case of Varian Medical Systems
by J. Michael Bruff & Marwaan Karame - 78-84 Attracting Long‐Term Shareholders
by Sarah Keohane Williamson & Ariel Babcock - 85-99 Embedding Sustainability Performance and Long‐Term Strategy in the Earnings Call
by Kevin Eckerle & Tensie Whelan & Brian Tomlinson - 100-107 Using the Return on Sustainability Investment (ROSI) Framework to Value Accelerated Decarbonization
by Kevin Eckerle & Tensie Whelan & Bryan DeNeve & Sameer Bhojani & John Platko & Rebecca Wisniewski - 108-116 “Non‐Financial” Is a Misnomer, but Doesn't Have to Be a Missed Opportunity
by Gail Glazerman & Jeff Cohen - 117-125 A Preliminary Analysis of SASB Reporting: Disclosure Topics, Financial Relevance, and the Financial Intensity of ESG Materiality
by Cristiano Busco & Costanza Consolandi & Robert G. Eccles & Elena Sofra
March 2020, Volume 32, Issue 1
- 2-3 A Message from the Editor
by Don Chew - 8-13 Economics and Ethics: The Case of Salomon Brothers
by Clifford Smith - 14-35 UNIVERSITY OF GEORGIA ROUNDTABLE ON: Enterprise‐Wide Risk Management
by James Verbrugge & Greg Niehaus & Walter Coleman & Keith Lawder & Cliff Smith & Christie Briscoe & Sailesh Ramamurtie & Don Chew - 36-47 Risk and Regulation in Derivatives (or Why Derivatives Are a Blessing, Not a Curse)
by Ludger Hentschel & Clifford Smith - 48-57 Corporate Insurance Strategy: The Case of British Petroleum
by Neil A. Doherty & Clifford Smith - 58-79 UNIVERSITY OF ROCHESTER ROUNDTABLE ON Bankruptcy vs. Bailouts: The Case of General Motors and the U.S. Auto Industry
by Thomas Jackson & James Brickley & Clifford Smith & Charlie Hughes & Joel Tabas & Mark Zupan - 80-91 The Capital Structure Puzzle: Another Look at the Evidence
by Michael J. Barclay & Clifford Smith - 92-107 MORGAN STANLEY ROUNDTABLE ON Capital Structure and Payout Policy
by Clifford Smith & David Ikenberry & Arun Nayar & Jon Anda & Henry McVey & Bennett Stewart - 108-119 The Economics of Organizational Architecture
by James Brickley & Clifford Smith & Jerold Zimmerman - 120-127 Transfer Pricing and the Control of Internal Corporate Transactions
by James Brickley & Clifford Smith & Jerold Zimmerman - 128-137 Using Organizational Architecture to Lead Change
by James Brickley & Clifford Smith & Jerold Zimmerman & Janice Willett
December 2019, Volume 31, Issue 4
- 2-3 A Message from the Editor
by Don Chew - 10-15 Hamilton and the U.S. Financial Revolution
by Richard Sylla & David J. Cowen - 16-20 A Limited Central Bank
by Charles I. Plosser - 21-42 How to Promote Fed Independence: Perspectives from Political Economy and History
by Charles W. Calomiris - 43-58 The Great Crash of 1929: A Look Back After 90 Years
by Robert F. Bruner & Scott C. Miller - 59-67 The Strange and Futile World of Trade Wars
by Steve H. Hanke & Edward Li - 68-76 Monetary Policy Implementation: Making Better and More Consistent Use of the Federal Reserve's Balance Sheet
by Peter N. Ireland - 77-85 The Fed's Communications: Suggestions for Improvement
by Mickey D. Levy - 86-97 FinTech, BigTech, and the Future of Banks
by René M. Stulz - 98-104 Will Blockchain Be a Big Deal? Reasons for Caution
by Craig Pirrong - 105-117 Two Modes of Investment Banking: Technocrats, Relationship Managers, and Conflict
by Alan D. Morrison & William J. Wilhelm - 118-128 Dividend Consistency: Rewards, Learning, and Expectations
by David Michayluk & Scott Walker & Karyn Neuhauser - 129-136 The Reference‐Driven College Paper (Or Why Your Students Should Read the JACF)
by Joseph W. Trefzger
September 2019, Volume 31, Issue 3
- 2-3 A Message from the Editor
by Don Chew - 10-25 Session I: Corporate Purpose and Governance
by Ira Millstein & Jeff Gordon & Ron Gilson & Colin Mayer & Kristin Bresnahan & Marty Lipton - 26-31 Session Ii: Capitalism and Social Insurance
by Merritt Fox & Jeff Gordon - 32-43 Session III: Securities Law in Twenty‐First Century America: A Conversation with SEC Commissioner Robert Jackson
by Robert J. Jackson & John C. Coffee - 44-63 Session IV: The Law, Corporate Governance, and Economic Justice
by Leo Strine & Eric Talley & Mark Roe & Jill Fisch & Bruce Kogut - 64-73 Session V: Macro Perspectives: Bigger Problems than Corporate Governance
by Bruce Greenwald & Joshua Mitts & Edmund Phelps - 74-80 Is Managerial Myopia a Persistent Governance Problem?
by David J. Denis - 81-89 The Case for Maximizing Long‐Run Shareholder Value
by Diane Denis - 90-94 A Tribute to Joel Stern
by Bennett Stewart - 95-102 A Look Back at the Beginnings of EVA and Value‐Based Management
by Joel M. Stern & Joseph T. Willett - 103-115 EVA, not EBITDA: A New Financial Paradigm for Private Equity Firms
by Bennett Stewart - 116-125 Beyond EVA
by Greg Milano - 126-130 Are Performance Shares Shareholder Friendly?
by Marc Hodak - 131-138 Why EVA Bonus Plans Failed—and How to Revive Them
by Stephen O'Byrne
June 2019, Volume 31, Issue 2
- 2-3 A Message from the Editor
by Don Chew - 8-14 A Fireside Chat with Raj Gupta: What It Takes to Create Long‐Term Value
by Raj Gupta - 15-21 Aptiv Becoming a More Sustainable Business
by Kevin P. Clark - 22-33 The Economic Significance of Long‐Term Plans
by Sakis Kotsantonis & Christina Rehnberg & George Serafeim & Bronagh Ward & Brian Tomlinson - 34-41 Private Equity 4.0: Using ESG to Create More Value with Less Risk
by Reynir Indahl & Hannah Gunvor Jacobsen - 42-49 ESG as a Value‐Creation Tool for Active Investors: A Profile of Inherent Group
by Tony Davis & Beau Lescott - 50-58 Four Things No One Will Tell You About ESG Data
by Sakis Kotsantonis & George Serafeim - 59-71 Social Capital, Trust, and Corporate Performance: How CSR Helped Companies During the Financial Crisis (and Why It Can Keep Helping Them)
by Karl V. Lins & Henri Servaes & Ane Tamayo - 72-79 Innovation in Stock Exchanges: Driving ESG Disclosure and Performance
by Tania Bizoumi & Socrates Lazaridis & Natassa Stamou - 80-85 How Board Oversight Can Drive Climate and Sustainability Performance
by Veena Ramani & Bronagh Ward - 86-91 Sustainability and Capital Markets—Are We There Yet?
by Chris Pinney & Sophie Lawrence & Stephanie Lau - 92-104 An Investor Perspective on the Black Box of Corporate Social Responsibility
by Chitru S. Fernando & Vahap B. Uysal & Amal P. Abeysekera - 105-117 ESG, Material Credit Events, and Credit Risk
by Witold J. Henisz & James McGlinch - 118-123 Climate Change Scenario Analysis for Public Market Investors
by Casey Clark
March 2019, Volume 31, Issue 1
- 2-3 A Message From The Editor
by Don Chew - 8-22 The Rise of Agency Capitalism and the Role of Shareholder Activists in Making It Work
by Ronald J. Gilson & Jeffrey N. Gordon - 23-41 The Effect of Shareholder Approval of Equity Issuances Around the World
by Clifford G. Holderness - 42-61 Does Mandatory Shareholder Voting Prevent Bad Acquisitions? The Case of the United Kingdom
by Marco Becht & Andrea Polo & Stefano Rossi - 62-80 The Early Returns to International Hedge Fund Activism: 2000–2010
by Marco Becht & Julian Franks & Jeremy Grant & Hannes Wagner - 81-94 How Has Takeover Competition Changed Over Time?
by Tingting Liu & J. Harold Mulherin - 95-112 Do Large Blockholders Reduce Risk?
by David Newton & Imants Paeglis - 113-125 Estimating the Equity Risk Premium and Expected Equity Rates of Return: The Case of Canada
by Laurence Booth - 126-128 Save the Buyback, Save Jobs
by Greg Milano & Michael Chew
December 2018, Volume 30, Issue 4
- 2-3 A Message from the Editor
by Don Chew - 8-18 Are U.S. Companies Too Short‐Term Oriented? Some Thoughts
by Steven N. Kaplan - 19-26 Who Are the Short‐Termists?
by Wei Jiang - 27-35 Corporate Short‐Termism and How It Happens
by Greg Milano - 36-60 The Evolution of Corporate Cash
by John R. Graham & Mark T. Leary - 61-77 Do Staggered Boards Matter for Firm Value?
by Yakov Amihud & Markus Schmid & Steven Davidoff Solomon - 78-88 The Market Price of Managerial Indiscretions
by Brandon N. Cline & Ralph A. Walkling & Adam S. Yore - 89-107 How Have Green Companies Fared in Transactions with Banks? A Stakeholder‐Management Perspective
by Dawei Jin & Liuling Liu & Jun Ma & Haizhi Wang & Desheng Yin
September 2018, Volume 30, Issue 3
- 2-3 A Message from the Editor
by John McCormack - 8-26 The Dynamism of Nations: Toward a Theory of Indigenous Innovation
by Edmund Phelps - 27-35 Management's Key Responsibility
by Bartley J. Madden - 36-46 Funding Strategies in a Rising Interest Rate and a Flattening Yield Curve Environment
by Niso Abuaf - 47-54 Financing Urban Revitalization: A Pro‐Growth Template
by Steve H. Hanke & Stephen J.K. Walters - 55-75 A review of Buffett's commentary on accounting, governance, and investing practices: does he “walk the talk”?
by Robert M. Bowen & Shivaram Rajgopal & Mohan Venkatachalam
June 2018, Volume 30, Issue 2
- 8-17 Investors as Stewards of the Commons?
by George Serafeim - 18-21 Rethinking the Purpose of the Corporation
by Edward J. Waitzer - 22-28 The ESG Integration Paradox
by Michael Cappucci - 29-39 Building a Bridge between Marketing and Finance
by Ryan Barker & Greg Milano - 40-44 “Big Data” Analysis: Putting the Data Cart Before the Modelling Horse?
by Graham D. Barr & Theodor J. Stewart & Brian S. Kantor - 45-49 Debt Crisis Looming? Yes, Corporate Debt Expanded but Don't Panic Over the Prospect of BBB Downgrades
by Martin Fridson - 50-64 Buyout Transactions in the German‐speaking Region: Determinants of Abnormal Performance and Unlevered Returns
by Fabian Söffge & Reiner Braun - 65-82 Processes and Accuracy of Cash Flow Forecasting: A Case Study of a Multinational Corporation
by Martin Glaum & Peter Schmidt & Kati Schnürer - 83-91 An Empirical Study of Insurance Performance Measure
by Sai Ranjani Bharathkumar - 92-107 Valuation of Corporate Innovation and the Pricing of Risk in the Biopharmaceutical Industry: The Case of Gilead
by Richard Ebil Ottoo
March 2018, Volume 30, Issue 1
- 8-16 Eclipse of the Public Corporation or Eclipse of the Public Markets?
by Craig Doidge & Kathleen M. Kahle & G. Andrew Karolyi & René M. Stulz - 17-22 Fiduciary Duties of Corporate Directors in Uncertain Times
by Ira M. Millstein & Ellen J. Odoner & Aabha Sharma - 23-29 Financial Flexibility and Opportunity Capture: Bridging the Gap Between Finance and Strategy
by Stephen V. Arbogast & Praveen Kumar - 30-38 Say on Pay: Is It Needed? Does It Work?
by Stephen F. O'Byrne - 39-52 Internal Governance Does Matter to Equity Returns but Much More So During “Flights to Qualityâ€
by Peter G. Brooke & Paul Docherty & Jim Psaros & Michael Seamer - 53-61 Clawbacks, Holdbacks, and CEO Contracting
by Stuart L. Gillan & Nga Q. Nguyen - 62-69 Fundamental Investors Reduce the Distraction on Management from Random Market “Noise†: Evidence from France
by Alexandre Garel & Jean†Florent Rérolle - 70-77 An Improved Method for Valuing Mature Companies and Estimating Terminal Value
by David A. Holland - 78-88 Biomarker of Quality? Venture†backed Biotech IPOs and Insider Participation
by Hans Jeppsson - 89-97 How to Evaluate Risk Management Units in Financial Institutions?
by Michael Gelman & Doron Greenberg & Mosi Rosenboim - 98-105 Global Trade – Hostage to the Volatile US Dollar
by Brian Kantor - 106-111 Corporate Finance and Sustainability: the Case of the Electric Utility Industry
by Steven Kihm & Peter Cappers & Andrew Satchwell & Elisabeth Graffy
December 2017, Volume 29, Issue 4
- 8-24 Has Financial Regulation Been a Flop? (or How to Reform Dodd†Frank)
by Charles W. Calomiris - 25-29 Statement of the Financial Economists Roundtable: Bank Capital as a Substitute for Prudential Regulation
by Charles W. Calomiris & Larry Harris & Catherine Schrand & Roman L. Weil - 30-44 High†Frequency Trading and the New Stock Market: Sense And Nonsense
by Merritt B. Fox & Lawrence R. Glosten & Gabriel V. Rauterberg - 45-64 Shadow Banking, Risk Transfer, and Financial Stability
by Christopher L. Culp & Andrea M. P. Neves - 65-71 Why European Banks Are Undercapitalized and What Should Be Done About It
by John D. Finnerty & Laura Gonzalez - 86-95 Leverage and Taxes: Evidence from the Real Estate Industry
by Michael J. Barclay & Shane M. Heitzman & Clifford W. Smith - 96-111 Formulaic Transparency: The Hidden Enabler of Exceptional U.S. Securitization
by Amar Bhidé - 112-124 How Investment Opportunities Affect Optimal Capital Structure
by Stanley Myint & Antonio Lupi & Dimitrios P. Tsomocos - 125-133 How to Integrate ESG into Investment Decision†Making: Results of a Global Survey of Institutional Investors
by Robert G. Eccles & Mirtha D. Kastrapeli & Stephanie J. Potter - 134-137 Maximum Withdrawal Rates: A Novel and Useful Tool
by Javier Estrada
September 2017, Volume 29, Issue 3
- 8-17 The Evolving Shareholder Activist Landscape (How Companies Can Prepare for It)
by Ajay Khorana & Anil Shivdasani & Gustav Sigurdsson - 18-29 Improving the Health of Healthcare Companies
by Gregory V. Milano & Marwaan R. Karame & Joseph G. Theriault - 30-41 University of Texas Roundtable on The State of the U.S. Private Equity Market
by Andy Jhawar & Tiffany Kosch & Austin Long & Will Carpenter - 42-53 University of Texas Roundtable on The Role of Private Equity in the Financing and Restructuring of Oil and Gas Companies
by Bryan Sheffield & Bill Montgomery & Jim Hackett & Chris Manning - 54-64 The Keys to Success in Spinoffs
by Craig Emrick & Ajay Khorana & Anil Shivdasani & Peter Ventouras - 65-70 Statement of the Financial Economists Roundtable: Corporate Tax Reform
by Arnoud Boot & Dennis Logue & Chester Spatt - 71-79 Two Different Ways of Treating Corporate Cash in FCF Valuations—and the Importance of Getting the Cost of Capital Right
by Peter D. Easton & Gregory A. Sommers - 80-88 Valuation of a Pharmaceutical Licensing Contract
by John Lynch & Richard Shockley - 89-100 Investor Protection and Governance in the Valuation of Emerging Markets Investments
by Leila Atwi & Assem Safieddine & Sheridan Titman - 101-110 The Empirical Average Cost of Capital: A New Approach to Estimating the Cost of Corporate Funds
by Gerard T. Olson & Michael S. Pagano
June 2017, Volume 29, Issue 2
- 10-15 How We Invest
by Michael Bloomberg & Carl Pope - 16-20 Sustainability and Rewriting the Book on Valuation: An Interview with Tim Koller
by Jonathan Bailey & Tim Koller - 22-31 The SEC and Improving Sustainability Reporting
by Keith Higgins & John White & Alan Beller & Mary Schapiro - 32-43 The Next Wave of ESG Integration: Lessons from Institutional Investors
by Chris Ailman & Michelle Edkins & Kristi Mitchem & Ted Eliopoulos & Janine Guillot - 44-55 Analysts' Roundtable on Integrating ESG into Investment Decision-Making
by Dan Hanson & Tom Lyons & Jennifer Bender & Bruno Bertocci & Bobby Lamy - 56-69 Far Beyond the Quarterly Call: CECP's First CEO-Investor Forum
by Tim Youmans & Brian Tomlinson - 70-75 Evaluating Sustainable Competitive Advantage
by Baruch Lev - 76-86 The Purpose of the Firm, Valuation, and the Management of Intangibles
by Bartley J. Madden - 87-99 Investing in the UN Sustainable Development Goals: Opportunities for Companies and Investors
by Willem Schramade - 100-108 Evaluating the Effectiveness of Sustainability Disclosure: Findings from a Recent SASB Study
by Arturo Rodriguez & Henrik Cotran & Levi S. Stewart - 109-114 Lies, Damn Lies, and Statistics: Why a Widely Used Sustainability Metric Fails and How to Improve It
by Jon Bartley & Al Chen & Stephen Harvey & Scott Showalter & Gilroy Zuckerman & Levi Stewart
March 2017, Volume 29, Issue 1
- 10-14 The Case for Activist Directors: A Conversation with Ira M. Millstein
by Ira M. Millstein & Geoff Colvin - 15-21 Crises, Financial Leadership, and the Six Stretches for Financial Education
by Robert F. Bruner - 22-35 The Role of Corporate Boards: A Roundtable Discussion of Where We're Going and Where We've Been
by Jesse Greene & Raj Gupta & Sophie L'Helias & Bill McCracken - 36-49 The Evolution of Executive Pay Policy at General Motors, 1918–2008
by Stephen F. O'Byrne & S. David Young - 50-75 FMA Roundtable on New Developments in European Corporate Governance
by Charles Elson & Tom Berglund & Marc Steffen Rapp & Wolfgang Bessler & Don Chew - 76-85 Columbia Law School Roundtable on A Governance Research Agenda for the Academy
by Martijn Cremers & Vik Khanna & Jeff Gordon - 86-92 Liquefying a Market: The Transition of LNG to a Traded Commodity
by Craig Pirrong - 93-98 Separating Leadership from Pay
by Stephan Hostettler & Raphaël Lambin - 99-114 Corporate Governance and the Investment Efficiency of Diversified Corporate Asset Buyers
by I-Ju Chen & Sheng-Syan Chen - 115-121 IPO or SBO?: The Increasing Importance of Operational Performance for Private Equity Exits Following the Global Financial Crisis of 2007–08
by Emil Plagborg-Møller & Morten Holm
December 2016, Volume 28, Issue 4
- 10-16 A Look Back at Modern Finance: Accomplishments and Limitations
by Eugene F. Fama & Joel M. Stern - 17-28 Proactive Leverage Increases and The Value of Financial Flexibility
by David J. Denis & Stephen B. McKeon - 29-37 The Leveraging of Corporate America: A Long-Run Perspective on Changes in Capital Structure
by John R. Graham & Mark T. Leary & Michael R. Roberts - 38-52 Capital Structure Instability
by Harry DeAngelo & Richard Roll - 53-59 Which Creditors’ Rights Drive Financial Deepening and Economic Development?
by Charles W. Calomiris & Mauricio Larrain & José Liberti & Jason Sturgess - 60-67 The Capital Structure of PE-Funded Companies (and How New Debt Instruments and Investors Are Expanding Their Debt Capacity)
by Joseph V. Rizzi - 68-72 Seniority Differentials in High Yield Bonds: Evolution, Valuation, and Ratings
by Martin Fridson & Yanzhe Yang & Jiajun Wang - 73-85 Do Corporate Managers Know When Their Shares Are Undervalued? New Evidence Based on Actual (and Not Just Announced) Stock Buybacks
by Amy Dittmar & Laura Casares Field - 86-94 A Primer on the Financial Policies of Chinese Firms: A Multi-country Comparison
by Marc Zenner & Peter McInnes & Ram Chivukula & Phu Le - 95-117 Syndication of European Buyouts and its Effects on Target-Firm Performance
by Nancy Huyghebaert & Randy Priem - 118-123 Don't Waste a Free Lunch: Managing the Advance Refunding Option
by Andrew Kalotay & Lori Raineri - 124-128 The Economic Impact of Chapter 11 Bankruptcy versus Out-of-Court Restructuring
by Donald Markwardt & Claude Lopez & Ross DeVol
September 2016, Volume 28, Issue 3
- 8-25 The Achievements and Future of Business Education
by Geoff Garrett & Garth Saloner & Nitin Nohria & Glenn Hubbard - 26-35 Value Creation by Active Investors (and Its Potential for Addressing Social Problems)
by Paul Hilal & Russ Carson & Trevor Harris