Are there monitoring benefits to institutional ownership? Evidence from seasoned equity offerings
Tài liệu tham khảo
Aggarwal, 2011, Does governance travel around the world? Evidence from institutional investors, J. Financ. Econ., 100, 154, 10.1016/j.jfineco.2010.10.018
Allen, 2000, A theory of dividends based on tax clienteles, J. Financ., 55, 2499, 10.1111/0022-1082.00298
Barber, 2007, Monitoring the monitor: evaluating CalPERS' shareholder activism, J. Invest., 16, 66, 10.3905/joi.2007.698965
Barber, 1996, Detecting abnormal operating performance: the empirical power and specification of test statistics, J. Financ Econ., 41, 359, 10.1016/0304-405X(96)84701-5
Barber, 1997, Detecting long-run abnormal stock returns: the empirical power and specification of test statistics, J. Financ. Econ., 43, 341, 10.1016/S0304-405X(96)00890-2
Bayless, 1996, Is there a window of opportunity for seasoned equity issuance?, J. Financ., 51, 253, 10.1111/j.1540-6261.1996.tb05209.x
Berger, 1999, Causes and effects of corporate refocusing programs, Rev. Financ. Stud., 12, 311, 10.1093/rfs/12.2.311
Black, 1992, Institutional investors and corporate governance: the case for institutional voice, J. Appl. Corp. Financ., 5, 19, 10.1111/j.1745-6622.1992.tb00223.x
Blanchard, 1994, What do firms do with cash windfalls, J. Financ. Econ., 36, 337, 10.1016/0304-405X(94)90009-4
Brav, 1997, Myth or reality? The long-run underperformance of IPOs: evidence from venture and non-venture capital-backed companies, J. Financ., 52, 1791, 10.1111/j.1540-6261.1997.tb02742.x
Brav, 2008, Hedge fund activism, corporate governance, and firm performance, J. Financ., 63, 1729, 10.1111/j.1540-6261.2008.01373.x
Burns, 2010, Institutional ownership and monitoring: evidence from financial misreporting, J. Corp. Financ., 16, 443, 10.1016/j.jcorpfin.2010.06.001
Bushee, 1998, The influence of institutional investors on myopic R&D investment behavior, Account. Rev., 73, 305
Bushee, 2001, Do institutional investors prefer near-term earning over long-run value?, Contemp. Account. Res., 18, 207, 10.1506/J4GU-BHWH-8HME-LE0X
Carhart, 1997, On persistence in mutual fund performance, J. Financ., 52, 57, 10.1111/j.1540-6261.1997.tb03808.x
Carleton, 1998, The influence of institutions on corporate governance through private negotiations: evidence from TIAA-CREF, J. Financ., 53, 1335, 10.1111/0022-1082.00055
Chemmanur, 2009, The role of institutional investors in seasoned equity offerings, J. Financ. Econ., 94, 384, 10.1016/j.jfineco.2008.12.011
Chen, 2007, Monitoring: which institutions matter?, J. Financ. Econ., 86, 279, 10.1016/j.jfineco.2006.09.005
Choe, 1993, Common stock offerings across the business cycle: theory and evidence, J. Empir. Financ., 1, 3, 10.1016/0927-5398(93)90003-A
Clark, 2001, The long-run performance of secondary equity issues: a direct test of the windows of opportunity hypothesis, J. Financ. Quant. Anal., 36, 415
Coffee, 1991, Liquidity versus control: the institutional investors voice, Columbia Law Rev., 91, 1277, 10.2307/1123064
Dierkens, 1991, Information asymmetry and equity issues, J. Financ. Quant. Anal., 26, 181, 10.2307/2331264
Fama, 1998, Market efficiency, long-term returns, and behavioral finance, J. Financ. Econ., 49, 283, 10.1016/S0304-405X(98)00026-9
Fama, 1993, Common risk factors in the returns of stocks and bonds, J. Financ. Econ., 33, 3, 10.1016/0304-405X(93)90023-5
Ferreira, 2010, Corporate boards and SEOs: the effect of certification and monitoring
Field, 2009, Institutional versus individual investment in IPOs: the importance of firm fundamentals, J. Financ. Quant. Anal., 44, 489, 10.1017/S0022109009990032
Gibson, 2004, Smart investments by smart money: evidence from seasoned equity offerings, J. Financ. Econ., 72, 581, 10.1016/j.jfineco.2003.05.001
Gillan, 2000, Corporate governance proposals and shareholder activism: the role of institutional investors, J. Financ. Econ., 57, 275, 10.1016/S0304-405X(00)00058-1
Gillan, 2007, Trade-offs in corporate governance: evidence from board structures and charter provisions
Gompers, 2003, Corporate governance and equity prices, Q. J. Econ., 118, 107, 10.1162/00335530360535162
Healy, 1997, Which takeovers are profitable? Strategic or financial?, Sloan Manage. Rev., 38, 45
Jegadeesh, 1993, An empirical investigation of IPO returns and subsequent equity offerings, J. Financ. Econ., 34, 153, 10.1016/0304-405X(93)90016-5
Jensen, 1986, Agency costs of free cash flow, corporate finance and takeovers, Am. Econ. Rev., 76, 323
Jung, 1996, Timing, investment opportunities, managerial discretion, and the security issue decision, J. Financ. Econ., 42, 159, 10.1016/0304-405X(96)00881-1
Kaplan, 1989, The effect of management buyouts on operating performance and value, J. Financ. Econ., 24, 217, 10.1016/0304-405X(89)90047-0
Kim, 2009, Corporate governance and investor confidence in seasoned equity offerings
Krishnaswami, 1999, Information asymmetry, valuation, and the corporate spin-off decision, J. Financ. Econ., 53, 73, 10.1016/S0304-405X(99)00017-3
Lang, 1995, Asset sales, firm performance, and the agency costs of managerial discretion, J. Financ. Econ., 37, 3, 10.1016/0304-405X(94)00791-X
Lee, 1997, Do firms knowingly sell overvalued equity?, J. Financ., 52, 1439, 10.1111/j.1540-6261.1997.tb01116.x
Loughran, 1995, The new issues puzzle, J. Financ., 50, 23, 10.1111/j.1540-6261.1995.tb05166.x
Loughran, 1997, The operating performance of firms conducting seasoned equity offerings, J. Financ., 52, 1823, 10.1111/j.1540-6261.1997.tb02743.x
Lyon, 1999, Improved methods for tests of long-run abnormal stock returns, J. Financ., 54, 165, 10.1111/0022-1082.00101
McCahery, 2010, Behind the scenes: the corporate governance preferences of institutional investors
McConnell, 1990, Additional evidence on equity ownership and corporate value, J. Financ. Econ., 27, 595, 10.1016/0304-405X(90)90069-C
McLaughlin, 1996, The operating performance of seasoned equity issuers: free cash flow and post-issue performance, Financ. Manag., 25, 41, 10.2307/3665588
Mikkelson, 1985, An empirical analysis of the inter-firm equity investment process, J. Financ. Econ., 14, 523, 10.1016/0304-405X(85)90025-X
Mitchell, 2000, Managerial decisions and long-term stock price performance, J. Bus., 73, 287, 10.1086/209645
O'Brien, 1990, Analyst following and institutional ownership, J. Account. Res., 28, 55, 10.2307/2491247
Opler, 1998, Does coordinated institutional shareholders activism work?
Parrino, 2003, Voting with their feet: institutional ownership changes around forced CEO turnover, J. Financ. Econ., 68, 3, 10.1016/S0304-405X(02)00247-7
Sias, 1997, Institutions and individuals at the turn-of-the-year, J. Financ., 52, 1543, 10.1111/j.1540-6261.1997.tb01120.x
Smith, 1996, Shareholder activism by institutional investors: evidence from CALPERS, J. Financ., 51, 227, 10.1111/j.1540-6261.1996.tb05208.x
Spiess, 1995, Underperformance in long-run stock returns following seasoned equity offerings, J. Financ. Econ., 38, 243, 10.1016/0304-405X(94)00817-K
Strickland, 1996, A requiem for the USA: is small shareholder monitoring effective?, J. Financ. Econ., 40, 319, 10.1016/0304-405X(95)00849-A
Teoh, 1998, Earnings management and the post-issue under-performance of seasoned equity offerings, J. Financ. Econ., 50, 63, 10.1016/S0304-405X(98)00032-4
Wahal, 1996, Pension fund activism and firm performance, J. Financ. Quant. Anal., 31, 1, 10.2307/2331384
Wahal, 2000, Do institutional investors exacerbate managerial myopia?, J. Corp. Financ., 6, 307, 10.1016/S0929-1199(00)00005-5