Timing, investment opportunities, managerial discretion, and the security issue decision

Theory of the firm: Managerial behavior, agency costs and ownership structure

1976 • 62,465 citations

Corporate financing and investment decisions when firms have information that investors do not have

1984 • 18,167 citations

Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers

1986 • 17,982 citations

Determinants of corporate borrowing

1977 • 13,054 citations

The Capital Structure Puzzle

1984 • 7,683 citations

The Determinants of Capital Structure Choice

1988 • 5,494 citations

The Theory of Capital Structure

1991 • 3,949 citations

The investment opportunity set and corporate financing, dividend, and compensation policies

1992 • 3,817 citations

Managerial discretion and optimal financing policies

1990 • 3,683 citations

The New Issues Puzzle

1995 • 3,411 citations

The Capital Structure Puzzle

1984 • 2,824 citations

Managerial control of voting rights

1988 • 2,602 citations

Equity issues and offering dilution

1986 • 1,479 citations

Leverage, investment, and firm growth

1996 • 1,289 citations

Valuation effects of security offerings and the issuance process

1986 • 1,281 citations

Do Taxes Affect Corporate Financing Decisions?

1990 • 1,180 citations

Underperformance in long-run stock returns following seasoned equity offerings

1995 • 1,079 citations

Seasoned equity offerings

1986 • 943 citations

The Choice Between Equity and Debt: An Empirical Study

1982 • 717 citations

Equity Issues and Stock Price Dynamics

1990 • 695 citations

Common stock offerings across the business cycle

1993 • 659 citations

Capital Structure Puzzle

1984 • 628 citations

Rational Capital Budgeting In An Irrational World

1996 • 584 citations

Dynamic Capital Structure Under Managerial Entrenchment

1995 • 516 citations

Valuation effects of corporate debt offerings

1986 • 490 citations

Efficient Financing under Asymmetric Information

1987 • 441 citations

The Effect of Information Releases on the Pricing and Timing of Equity Issues

1991 • 431 citations

Announcement effects of new equity issues and the use of intraday price data

1988 • 310 citations

Capital Structure and Dividend Irrelevance with Asymmetric Information

1991 • 267 citations

Investment Opportunities and the Market Reaction to Equity Offerings

1994 • 220 citations

Capital Structure and Signaling Game Equilibria

1988 • 212 citations

The Investment Oppotunity set and Corporate Financing, Dividend and Compensation Policies

1992 • 205 citations

The Choice Between Public and Private Debt: An Analysis of Post-Deregulation Corporate Financing in Japan

1993 • 199 citations

The Financial Accelerator and the Flight to Quality

1994 • 175 citations

Positive information from equity issue announcements

1993 • 161 citations

Growth Opportunities and the Stock Price Response to New Financing

1992 • 158 citations

Expectations of security type and the information content of debt and equity offers

1991 • 147 citations

Measuring Long-Horizon Security Price Performance

1995 • 139 citations

The Debt-Equity Choice

1988 • 131 citations

Corporate Choice Among Long-Term Financing Instruments

1970 • 125 citations

Strategic Considerations, the Pecking Order Hypothesis, and Market Reactions to Equity Financing

1993 • 90 citations