Number of Shareholders and Stock Prices: Evidence from Japan

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

1976 • 62,465 citations

Continuous Auctions and Insider Trading

1985 • 9,651 citations

A Simple Model of Capital Market Equilibrium with Incomplete Information

1987 • 5,293 citations

Asset pricing and the bid-ask spread

1986 • 5,250 citations

Market Liquidity and Performance Monitoring

1993 • 1,759 citations

Noise

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The hidden costs of stock market liquidity

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Liquidity versus Control: The Institutional Investor as Corporate Monitor

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The Only Game in Town

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Blocks, Liquidity, and Corporate Control

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Market microstructure and securities values: Evidence from the Tel Aviv Stock Exchange

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Determinants of bid-asked spreads in the over-the-counter market

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Stock Prices and the Supply of Information

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Ownership dispersion, costly information, and IPO underpricing

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Equilibrium in an Imperfect Market: A Constraint on the Number of Securities in the Portfolio

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Organizational forms and investment decisions

1985 • 483 citations

The Effect of Market Segmentation and Illiquidity on Asset Prices: Evidence from Exchange Listings

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The Market Reaction to Stock Splits

1987 • 367 citations

Liquidity and Asset Prices: Financial Management Implications

1988 • 361 citations

Stock splits, stock prices, and transaction costs

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Liquidity Changes Following Stock Splits

1979 • 304 citations

Volatility increases subsequent to stock splits: An empirical aberration

1985 • 267 citations

Management's View of Stock Splits

1980 • 229 citations

Stock splits: Signaling or liquidity? The case of ADR ‘solo-splits’

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Market Making and the Changing Structure of the Securities Industry

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The effect of stock splits on the ownership structure of firms

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