Abstract Theory suggests that shareholders who own blocks of stock have a stronger incentive
to invest in voting on corporate issues than nonblockholders. Our evidence indicates that …

The authors wish to express their appreciation to the National Bureau of Economic Research,
the Investment Company Institute, the Purdue Research Foundation, and to the brokerage …

IN ITS ROLE as the final arbiter for the allocation of our scarce capital resources, the American
securities market has been the object of continuing close scrutiny by both the scholarly …

This paper tests the hypothesis that the future distribution of payoffs provided by a common
stock depends upon whether ownership of the stock also conveys control over the firm's …

In recent years, a substantial amount of attention has been directed in the literature of
economics and finance to the question of the investment behavior and portfolio performance of …

This study examines the stock price reaction around the announcement of proposed changes
in long-term managerial compensation packages. The evidence indicates that on average …

The purpose of this book is to review the theory and empirical evidence regarding the
impact of dividend policy on shareholder wealth. It cuts to the quick of such long-standing …

We provide comprehensive data on the attributes and outcomes of the restructuring process
for a sample of 49 financially distressed firms that restructured by means a prepackaged …

Arecurring TOPIC in the literature of finance is that of the impact of a firm's dividend policy
on the valuation of its shares. From the time of the early arguments of Graham and Dodd [17] …

We investigate the importance of bid‐ask spread‐induced biases on event date returns as
exemplified by seasoned equity offerings by NYSE listed firms. We document significant …