Market Discounts and Shareholder Gains for Placing Equity Privately

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

1976 • 62,465 citations

A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity

1980 • 25,774 citations

Separation of Ownership and Control

1983 • 18,225 citations

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

1984 • 18,167 citations

Large Shareholders and Corporate Control

1986 • 8,353 citations

Management ownership and market valuation

1988 • 7,109 citations

The Structure of Corporate Ownership: Causes and Consequences

1985 • 6,489 citations

INFORMATIONAL ASYMMETRIES, FINANCIAL STRUCTURE, AND FINANCIAL INTERMEDIATION

1977 • 4,200 citations

Informational Asymmetries, Financial Structure, and Financial Intermediation

1977 • 3,499 citations

Dividend Policy under Asymmetric Information

1985 • 3,145 citations

Estimating betas from nonsynchronous data

1977 • 2,887 citations

Managerial control of voting rights

1988 • 2,602 citations

Private benefits from control of public corporations

1989 • 1,210 citations

Investment banking and the capital acquisition process

1986 • 1,024 citations

On corporate governance

1983 • 993 citations

Equity ownership concentration and firm value

1989 • 899 citations

Information Asymmetries, Financial Structure, and Financial Intermediation

1977 • 828 citations

Equity Issues and Stock Price Dynamics

1990 • 695 citations

Information Production, Market Signalling, and the Theory of Financial Intermediation

1980 • 524 citations

Discounts on Restricted Stock: The Impact of Illiquidity on Stock Prices

1991 • 319 citations

Borrowing relationships, intermediation, and the cost of issuing public securities

1990 • 291 citations

Information Production, Market Signalling, and the Theory of Financial Intermediation

1980 • 175 citations

The wealth effects of targeted share repurchases

1983 • 163 citations

A Theory of Negotiated Equity Financing

1988 • 67 citations

Premiums paid in block transactions

1991 • 64 citations

The Valuation Effects of Private Placements of Convertible Debt

1991 • 57 citations

THE PRIVATE BENEFITS OF CONTROL OF PUBLIC CORPORATIONS

1988 • 55 citations