Investment banking and the capital acquisition process

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

The Cost of Capital, Corporation Finance and the Theory of Investment

1958 • 15,488 citations

Determinants of corporate borrowing

1977 • 13,054 citations

Agency Problems and the Theory of the Firm

1980 • 10,487 citations

The Capital Structure Puzzle

1984 • 7,683 citations

CORPORATE INCOME TAXES AND THE COST OF CAPITAL: A CORRECTION

1963 • 5,822 citations

The market for corporate control

1983 • 4,278 citations

Dividend Policy under Asymmetric Information

1985 • 3,145 citations

Two Agency-Cost Explanations of Dividends

1984 • 3,128 citations

DEBT AND TAXES*

1977 • 3,086 citations

On financial contracting

1979 • 3,013 citations

The Capital Structure Puzzle

1984 • 2,824 citations

Why new issues are underpriced

1986 • 2,752 citations

Optimal capital structure under corporate and personal taxation

1980 • 2,681 citations

Investment banking, reputation, and the underpricing of initial public offerings

1986 • 2,555 citations

A STATE‐PREFERENCE MODEL OF OPTIMAL FINANCIAL LEVERAGE

1973 • 1,819 citations

Auditor independence, ‘low balling’, and disclosure regulation

1981 • 1,687 citations

GROWTH, BETA AND AGENCY COSTS AS DETERMINANTS OF DIVIDEND PAYOUT RATIOS

1982 • 1,678 citations

The "Hot Issue" Market of 1980

1984 • 1,658 citations

Equity issues and offering dilution

1986 • 1,479 citations

Price performance of common stock new issues

1975 • 1,377 citations

Valuation effects of security offerings and the issuance process

1986 • 1,281 citations

Quarterly Dividend and Earnings Announcements and Stockholders' Returns: An Empirical Analysis

1980 • 1,082 citations

Common stock repurchases and market signalling

1981 • 1,054 citations

On corporate governance

1983 • 993 citations

Merger bids, uncertainty, and stockholder returns

1983 • 979 citations

Horizontal mergers, collusion, and stockholder wealth

1983 • 946 citations

The Market for Securities: Substitution Versus Price Pressure and the Effects of Information on Share Prices

1972 • 944 citations

Seasoned equity offerings

1986 • 943 citations

A Model of the Demand for Investment Banking Advising and Distribution Services for New Issues

1982 • 916 citations

Corporate capital expenditure decisions and the market value of the firm

1985 • 874 citations

The Impact of Initiating Dividend Payments on Shareholders' Wealth

1983 • 835 citations

A State-Preference Model of Optimal Financial Leverage

1973 • 764 citations

Dividend Policy under Asymmetric Information

1985 • 747 citations

Common stock repurchases

1981 • 737 citations

The Choice Between Equity and Debt: An Empirical Study

1982 • 717 citations

Capital raising, underwriting and the certification hypothesis

1986 • 700 citations

An analysis of secured debt

1985 • 685 citations

Merger proposals, management discretion and stockholder wealth

1980 • 677 citations

The rationale behind interfirm tender offers

1983 • 646 citations

On the Corporate Demand for Insurance

1982 • 623 citations

Corporate Financial Statements, A Product of the Market and Political Processes

1977 • 612 citations

“HOT ISSUE” MARKETS

1975 • 607 citations

On the Corporate Demand for Insurance

1982 • 592 citations

Debt and Taxes

1977 • 589 citations

Alternative methods for raising capital

1977 • 586 citations

Tender offers and stockholder returns

1977 • 504 citations

Valuation effects of corporate debt offerings

1986 • 490 citations

Organizational forms and investment decisions

1985 • 483 citations

Security price reactions around corporate spin-off announcements

1983 • 481 citations

Corporate Income Taxes, Valuation, and the Problem of Optimal Capital Structure

1978 • 466 citations

Why New Issues are Underpriced

1986 • 451 citations

Going Private: Minority Freezeouts and Stockholder Wealth

1984 • 444 citations

Dividend information, stock returns and market efficiency-II

1978 • 435 citations

Effects of recontracting on shareholder wealth

1983 • 411 citations

Convertible debt issuance, capital structure change and financing-related information

1984 • 410 citations

A comparison of equity carve-outs and seasoned equity offerings

1986 • 392 citations

Incentive and Tax Effects of Executive Compensation Plans

1982 • 382 citations

The Impact of Capital Structure Change on Firm Value: Some Estimates

1983 • 375 citations

Corporate Combinations and Common Stock Returns: The Case of Joint Ventures

1985 • 364 citations

Shareholder wealth, information signaling and the specially designated dividend

1983 • 352 citations

Raiders or saviors? The evidence on six controversial investors

1985 • 319 citations

The Effect of Voluntary Sell‐off Announcements on Shareholder Wealth

1985 • 315 citations

The Mechanisms of Market Efficiency

1984 • 309 citations

The Effects of a Firm's Investment and Financing Decisions on the Welfare of its Security Holders

2007 • 303 citations

Stock price effects and costs of secondary distributions

1985 • 296 citations

The Investment Banking Contract For New Issues Under Asymmetric Information: Delegation And The Incentive Problem

1980 • 281 citations

Stock Repurchase by Tender Offer: An Analysis of the Causes of Common Stock Price Changes

1980 • 273 citations

Investigating the Valuation Effects of Announcements of Voluntary Corporate Selloffs

1984 • 254 citations

The Effect of Voluntary Spin-off Announcements on Shareholder Wealth

1983 • 248 citations

Convertible calls and security returns

1981 • 221 citations

Quarterly Dividend and Earnings Announcements and Stockholders' Returns: An Empirical Analysis

1980 • 221 citations

Trading costs for listed options

1980 • 218 citations

Additional Evidence on the Relation Between Divestiture Announcements and Shareholder Wealth

1984 • 214 citations

Trading rules, large blocks and the speed of price adjustment

1977 • 203 citations

A Model of the Demand for Investment Banking Advising and Distribution Services for New Issues

1982 • 195 citations

Ownership structure and control

1986 • 193 citations

"Hot Issue" Markets

1975 • 193 citations

Handbook of Financial Economics.

1980 • 184 citations

Standstill agreements, privately negotiated stock repurchases, and the market for corporate control

1983 • 179 citations

The wealth effects of targeted share repurchases

1983 • 163 citations

Equity Rights Issues and the Efficiency of the UK Stock Market

1979 • 142 citations

Issuing costs to existing shareholders in competitive and negotiated underwritten public utility equity offerings

1986 • 134 citations

Rights Versus Underwritten Offerings: An Asymmetric Information Approach

1986 • 132 citations

Direct Equity Financing: A Resolution of a Paradox

1982 • 108 citations

SEC Rule 415: The Ultimate Competitive Bid

1984 • 93 citations

INVESTMENT BANKING: AN ECONOMIC ANALYSIS OF OPTIMAL UNDERWRITING CONTRACTS

1977 • 87 citations

The Effect of Voluntary Sell-Off Announcements on Shareholder Wealth

1985 • 82 citations

The Impact of Capital Structure Change on Firm Value: Some Estimates

1983 • 82 citations

Corporate Combinations and Common Stock Returns: The Case of Joint Ventures

1985 • 73 citations

Underpricing of seasoned issues

1985 • 71 citations

Equity Rights Issues and the Efficiency of the UK Stock Market

1979 • 70 citations

Do Banks Overbid When Acquiring Failed Banks?

1985 • 70 citations

Stock Repurchase by Tender Offer: An Analysis of the Causes of Common Stock Price Changes

1980 • 63 citations

The effect of pre-emptive right amendments on shareholder wealth

1983 • 61 citations

The incentive problem and the design of investment banking contracts

1979 • 59 citations

THE SEASONING PROCESS OF NEW CORPORATE BOND ISSUES

1978 • 49 citations

The Investment Banking Contract for New Issues Under Asymmetric Information: Delegation and the Incentive Problem

1980 • 47 citations

CHANGES IN CAPITAL STRUCTURE, NEW EQUITY ISSUES, AND SCALE EFFECTS

1985 • 45 citations

Investigating the Valuation Effects of Announcements of Voluntary Corporate Selloffs

1984 • 43 citations

Deregulation in Investment Banking: Shelf Registrations, Structure, and Performance

1985 • 40 citations

Additional Evidence on the Relation Between Divestiture Announcements and Shareholder Wealth

1984 • 40 citations

NEGOTIATED VERSUS COMPETITIVE UNDERWRITINGS OF CORPORATE BONDS

1976 • 37 citations

Impacts of New Equity Sales upon Electric Utility Share Prices

1985 • 36 citations

Evidence on the Impact of Exchange Offers on Security Prices: The Case of Income Bonds

1981 • 34 citations

Investment Banking: An Economic Analysis of Optimal Underwriting Contracts

1977 • 31 citations

OWNERSHIP STRUCTURE AND CONTROL: THE MUTUALIZATION OF STOCK LIFE INSURANCE COMPANIES

1984 • 29 citations

Competitive versus Negotiated Underwriting of Public Utility Debt

1976 • 28 citations

Direct Equity Financing: A Resolution of a Paradox

1982 • 26 citations

Negotiation vs. Competitive Bidding in the Sale of Securities by Public Utilities

1978 • 25 citations

Changes in Ownership Structure; Conversions of Mutual Savings and Loans to Stock Charter

1986 • 20 citations

Repurchase offers : information adjusted premiums and shareholders' response

1982 • 20 citations

Effects of early bond refundings

1984 • 20 citations

The Effect of Management's Choice between Negotiated and Competitive Equity Offerings on Shareholder Wealth

1986 • 19 citations

Direct Equity Financing; A Resolution of a Paradox: A Comment

1984 • 13 citations

Corporate investments in common stock

2011 • 13 citations

The Seasoning Process of New Corporate Bond Issues

1978 • 12 citations

Direct Equity Financing; A Resolution of a Paradox: A Comment

1984 • 5 citations

Negotiated Versus Competitive Underwritings of Corporate Bonds

1976 • 4 citations

Voluntary Liquidation and Stockholder Returns.

1984 • 2 citations

Two essays on voluntary corporate divestitures (agency costs, bondholder, shareholder wealth, asset substitution, management buyouts)

1985 • 1 citations

Deleted Work

1955 • 0 citations