Institution
U.S. Securities and Exchange Commission
Government•Washington D.C., District of Columbia, United States•
About: U.S. Securities and Exchange Commission is a government organization based out in Washington D.C., District of Columbia, United States. It is known for research contribution in the topics: Market liquidity & Corporate governance. The organization has 288 authors who have published 711 publications receiving 32196 citations. The organization is also known as: United States Securities and Exchange Commission & SEC.
Papers published on a yearly basis
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TL;DR: The authors studied the flows of funds into and out of equity mutual funds and found that high performance appears to be most salient for funds that exert higher marketing effort, as measured by higher fees.
Abstract: This paper studies the flows of funds into and out of equity mutual funds. Consumers base their fund purchase decisions on prior performance information, but do so asymmetrically, investing disproportionately more in funds that performed very well the prior period. Search costs seem to be an important determinant of fund flows. High performance appears to be most salient for funds that exert higher marketing effort, as measured by higher fees. Flows are directly related to the size of the fund's complex as well as the current media attention received by the fund, which lower consumers' search costs.
3,105 citations
Posted Content•
TL;DR: In this paper, a model of corporate leverage choice is formulated in which corporate and differential personal taxes exist and supply side adjustments by firms enter into the determination of equilibrium prices of debt and equity.
Abstract: In this paper, a model of corporate leverage choice is formulated in which corporate and differential personal taxes exist and supply side adjustments by firms enter into the determination of equilibrium prices of debt and equity. The presence of corporate tax shield substitutes for debt such as accounting depreciation, depletion allowances, and investment tax credits is shown to imply a market equilibrium in which each firm has a unique interior optimum leverage decision (with or without leverage-related costs). The optimal leverage model yields a number of interesting predictions regarding cross-sectional and time-series properties of firms’ capital structures. Extant evidence bearing on these predictions is examined.
2,569 citations
TL;DR: In this article, a model of corporate leverage choice is formulated in which corporate and differential personal taxes exist and supply side adjustments by firms enter into the determination of equilibrium relative prices of debt and equity.
2,177 citations
TL;DR: In this article, the authors examine voting outcomes and short-term market reactions conditioned on proposal type and sponsor identity and find that proposals sponsored by institutions or coordinated groups appear to act as substitutes gaining substantially more support than those sponsored by individuals.
1,654 citations
TL;DR: The authors found that large focused firms were less likely to be subject to hostile takeover attempts than were other firms, but diversified firms were distinguished in the 1980s mostly by being relatively active participants, as both buyers and sellers, in the market for corporate control.
1,173 citations
Authors
Showing all 292 results
| Name | H-index | Papers | Citations |
|---|---|---|---|
| S.P. Kothari | 68 | 136 | 33914 |
| Ronald W. Masulis | 62 | 147 | 30059 |
| Mark J. Flannery | 56 | 142 | 17443 |
| George Papadakis | 48 | 210 | 7532 |
| Sanjai Bhagat | 44 | 99 | 9100 |
| Peter Tufano | 43 | 151 | 13696 |
| Chester S. Spatt | 39 | 98 | 6584 |
| Hong Yan | 38 | 127 | 5828 |
| Ekkehart Boehmer | 38 | 81 | 8493 |
| Jeffry M. Netter | 35 | 75 | 16638 |
| Annette B. Poulsen | 34 | 52 | 7269 |
| Stuart L. Gillan | 30 | 59 | 7363 |
| Gordon J. Alexander | 29 | 89 | 4783 |
| Kenneth Lehn | 29 | 60 | 12376 |
| Craig M. Lewis | 27 | 61 | 3774 |