Details about Sheridan Titman

Workplace:

Department of Finance, McCombs School of Business, University of Texas-Austin, (more information at EDIRC)

Access statistics for papers by Sheridan Titman.

Last updated 2023-02-24. Update your information in the RePEc Author Service.

Short-id: pti51

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Working Papers

2023

1. ESG Spillovers
   NBER Working Papers, National Bureau of Economic Research, Inc

2021

2. Corporate Actions and the Manipulation of Retail Investors in China: An Analysis of Stock Splits
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
3. Momentum, Reversals, and Investor Clientele
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)

2020

4. ESG Preference, Institutional Trading, and Stock Return Patterns
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)

2019

5. A Dynamic Model of Characteristic-Based Return Predictability
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)

2014

6. The Dynamics of Housing Prices
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
7. The Geography of Financial Misconduct
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
8. Urban Vibrancy and Corporate Growth
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)

2013

9. Financial Market Shocks and the Macroeconomy
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)

2011

10. Are Corporate Default Probabilities Consistent with the Static Tradeoff Theory?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
11. Individual Investor Trading and Return Patterns around Earnings Announcements
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)

2010

12. An International Comparison of Capital Structure and Debt Maturity Choices
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (26)

2009

13. Predicting Systematic Risk: Implications from Growth Options
    CIRANO Working Papers, CIRANO

2007

14. Financial Structure, Liquidity, and Firm Locations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
15. Firms' Stakeholders and the Costs of Transparency
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    See also Journal Article Firms' Stakeholders and the Costs of Transparency, Journal of Economics & Management Strategy, Wiley Blackwell (2009) View citations (7) (2009)
    Chapter Firms' Stakeholders and the Costs of Transparency, NBER Chapters, National Bureau of Economic Research, Inc (2007) View citations (3) (2007)

2006

16. Equilibrium Exhaustible Resource Price Dynamics
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    See also Journal Article Equilibrium Exhaustible Resource Price Dynamics, Journal of Finance, American Finance Association (2007) View citations (35) (2007)
17. Why do firms hold so much cash? A tax-based explanation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
    See also Journal Article Why do firms hold so much cash? A tax-based explanation, Journal of Financial Economics, Elsevier (2007) View citations (296) (2007)

2004

18. A Dynamic Model of Optimal Capital Structure
    2004 Meeting Papers, Society for Economic Dynamics View citations (5)
    Also in 2004 Meeting Papers, Society for Economic Dynamics (2004) View citations (5)
    See also Journal Article A Dynamic Model of Optimal Capital Structure, Review of Finance, European Finance Association (2007) View citations (103) (2007)
19. Feedback and the Success of Irrational Investors
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (2)
    See also Journal Article Feedback and the success of irrational investors, Journal of Financial Economics, Elsevier (2006) View citations (53) (2006)
20. Firms' Histories and Their Capital Structures
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
    See also Journal Article Firms' histories and their capital structures, Journal of Financial Economics, Elsevier (2007) View citations (199) (2007)
21. Stakeholders, Transparency and Capital Structure
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (8)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (1)

2003

22. Capital Investments and Stock Returns
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (32)
    See also Journal Article Capital Investments and Stock Returns, Journal of Financial and Quantitative Analysis, Cambridge University Press (2004) View citations (459) (2004)
23. Corporate Investment with Financial Constraints: Sensitivity of Investment to Funds from Voluntary Asset Sales
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    See also Journal Article Corporate Investment with Financial Constraints: Sensitivity of Investment to Funds from Voluntary Asset Sales, Journal of Money, Credit and Banking, Blackwell Publishing (2006) View citations (79) (2006)
24. Firm Location and the Creation and Utilization of Human Capital
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
25. Market Reactions to Tangible and Intangible Information
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
    See also Journal Article Market Reactions to Tangible and Intangible Information, Journal of Finance, American Finance Association (2006) View citations (319) (2006)

2001

26. The Modigliani and Miller Theorem and Market Efficiency
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)

2000

27. Building the IPO Order Book: Underpricing and Participation Limits With Costly Information
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    See also Journal Article Building the IPO order book: underpricing and participation limits with costly information, Journal of Financial Economics, Elsevier (2002) View citations (133) (2002)
28. Market Efficiency in an Irrational World
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)

1999

29. Explaining the Cross-Section of Stock Returns in Japan: Factors or Characteristics?
    NBER Working Papers, National Bureau of Economic Research, Inc
30. Profitability of Momentum Strategies: An Evaluation of Alternative Explanations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)

1997

31. Debt and Corporate Performance: Evidence from Unsuccessful Takeovers
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)

1996

32. Evidence on the Characteristics of Cross Sectional Variation in Stock Returns
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    See also Journal Article Evidence on the Characteristics of Cross Sectional Variation in Stock Returns, Journal of Finance, American Finance Association (1997) View citations (685) (1997)
33. Pricing Strategy and Financial Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    See also Journal Article Pricing Strategy and Financial Policy, The Review of Financial Studies, Society for Financial Studies (1998) View citations (53) (1998)

1994

34. The Debt-Equity Choice: An Empirical Analysis
    Corporate Finance & Organizations, Ohio State University View citations (2)

Undated

35. Adverse Risk Incentives and the Design of Performance-Based Contracts
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (17)
36. Mutual Fund Performance: An Analysis of Quarterly Portfolio Holdings
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (4)
    See also Journal Article Mutual Fund Performance: An Analysis of Quarterly Portfolio Holdings, The Journal of Business, University of Chicago Press (1989) View citations (387) (1989)
37. Portfolio Performance Evaluation: Old Issues and New Insights
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (36)

Journal Articles

2011

1. Do the Best Hedge Funds Hedge?
   The Review of Financial Studies, 2011, 24, (1), 123-168 View citations (91)

2010

2. Alternative Benchmarks for Evaluating Mutual Fund Performance
   Real Estate Economics, 2010, 38, (1), 121-154 View citations (16)
3. Financial Structure, Acquisition Opportunities, and Firm Locations
   Journal of Finance, 2010, 65, (2), 529-563 View citations (66)
4. Individualism and Momentum around the World
   Journal of Finance, 2010, 65, (1), 361-392 View citations (510)
5. Originator Performance, CMBS Structures, and the Risk of Commercial Mortgages
   The Review of Financial Studies, 2010, 23, (9), 3558-3594 View citations (34)
6. The leverage of hedge funds
   Finance Research Letters, 2010, 7, (1), 2-7 View citations (1)

2009

7. Capital Investments and Stock Returns in Japan*
   International Review of Finance, 2009, 9, (1‐2), 111-131 View citations (12)
8. Firms' Stakeholders and the Costs of Transparency
   Journal of Economics & Management Strategy, 2009, 18, (3), 871-900 View citations (7)
   See also Chapter Firms' Stakeholders and the Costs of Transparency, NBER Chapters, 2007 (2007) View citations (3) (2007)
   Working Paper Firms' Stakeholders and the Costs of Transparency, NBER Working Papers (2007) View citations (5) (2007)

2008

9. Individual Investor Trading and Stock Returns
   Journal of Finance, 2008, 63, (1), 273-310 View citations (309)
10. Single vs. Multiple Discount Rates: How to Limit “Influence Costs” in the Capital Allocation Process*
    Journal of Applied Corporate Finance, 2008, 20, (2), 79-83 View citations (1)

2007

11. A Dynamic Model of Optimal Capital Structure
    Review of Finance, 2007, 11, (3), 401-451 View citations (103)
    See also Working Paper A Dynamic Model of Optimal Capital Structure, 2004 Meeting Papers (2004) View citations (5) (2004)
12. Equilibrium Exhaustible Resource Price Dynamics
    Journal of Finance, 2007, 62, (4), 1663-1703 View citations (35)
    See also Working Paper Equilibrium Exhaustible Resource Price Dynamics, NBER Working Papers (2006) View citations (4) (2006)
13. Financial Constraints, Competition, and Hedging in Industry Equilibrium
    Journal of Finance, 2007, 62, (5), 2445-2473 View citations (57)
14. Firms' histories and their capital structures
    Journal of Financial Economics, 2007, 83, (1), 1-32 View citations (199)
    See also Working Paper Firms' Histories and Their Capital Structures, NBER Working Papers (2004) View citations (10) (2004)
15. Why do firms hold so much cash? A tax-based explanation
    Journal of Financial Economics, 2007, 86, (3), 579-607 View citations (296)
    See also Working Paper Why do firms hold so much cash? A tax-based explanation, NBER Working Papers (2006) View citations (13) (2006)

2006

16. Corporate Investment with Financial Constraints: Sensitivity of Investment to Funds from Voluntary Asset Sales
    Journal of Money, Credit and Banking, 2006, 38, (2), 357-374 View citations (79)
    See also Working Paper Corporate Investment with Financial Constraints: Sensitivity of Investment to Funds from Voluntary Asset Sales, NBER Working Papers (2003) View citations (8) (2003)
17. Feedback and the success of irrational investors
    Journal of Financial Economics, 2006, 81, (2), 311-338 View citations (53)
    See also Working Paper Feedback and the Success of Irrational Investors, Working Paper Series (2004) View citations (2) (2004)
18. Market Reactions to Tangible and Intangible Information
    Journal of Finance, 2006, 61, (4), 1605-1643 View citations (319)
    See also Working Paper Market Reactions to Tangible and Intangible Information, NBER Working Papers (2003) View citations (16) (2003)

2004

19. Capital Investments and Stock Returns
    Journal of Financial and Quantitative Analysis, 2004, 39, (4), 677-700 View citations (459)
    See also Working Paper Capital Investments and Stock Returns, NBER Working Papers (2003) View citations (32) (2003)

2003

20. Intra-industry momentum: the case of REITs
    Journal of Financial Markets, 2003, 6, (3), 363-387 View citations (51)
21. The Cross Section of Expected REIT Returns
    Real Estate Economics, 2003, 31, (3), 451-479 View citations (33)

2002

22. Building the IPO order book: underpricing and participation limits with costly information
    Journal of Financial Economics, 2002, 65, (1), 3-29 View citations (133)
    See also Working Paper Building the IPO Order Book: Underpricing and Participation Limits With Costly Information, NBER Working Papers (2000) View citations (7) (2000)
23. Discussion of "Underreaction to Self-Selected News Events"
    The Review of Financial Studies, 2002, 15, (2), 527-532 View citations (4)
24. THE CAPITAL STRUCTURE CHOICE: NEW EVIDENCE FOR A DYNAMIC TRADEOFF MODEL
    Journal of Applied Corporate Finance, 2002, 15, (1), 24-30 View citations (6)
25. The Modigliani and Miller Theorem and the Integration of Financial Markets
    Financial Management, 2002, 31, (1) View citations (30)

2001

26. The Debt-Equity Choice
    Journal of Financial and Quantitative Analysis, 2001, 36, (1), 1-24 View citations (503)
27. Why real interest rates, cost of capital and price/earnings ratios vary across countries
    Journal of International Money and Finance, 2001, 20, (2), 165-189 View citations (1)

2000

28. Editorial
    International Review of Finance, 2000, 1, (1), 1-1
29. Tax-Motivated Trading and Price Pressure: An Analysis of Mutual Fund Holdings
    Journal of Financial and Quantitative Analysis, 2000, 35, (3), 369-386 View citations (30)

1999

30. Do Real Estate Prices and Stock Prices Move Together? An International Analysis
    Real Estate Economics, 1999, 27, (2), 183-207 View citations (111)
31. Leverage and Corporate Performance: Evidence from Unsuccessful Takeovers
    Journal of Finance, 1999, 54, (2), 547-580 View citations (69)
32. The Going‐Public Decision and the Development of Financial Markets
    Journal of Finance, 1999, 54, (3), 1045-1082 View citations (222)
33. Understanding stock market volatility: The case of Korea and Taiwan
    Pacific-Basin Finance Journal, 1999, 7, (1), 41-66 View citations (15)

1998

34. Pricing Strategy and Financial Policy
    The Review of Financial Studies, 1998, 11, (4), 705-37 View citations (53)
    See also Working Paper Pricing Strategy and Financial Policy, NBER Working Papers (1996) View citations (8) (1996)

1997

35. DESIGNING CAPITAL STRUCTURE TO CREATE SHAREHOLDER VALUE
    Journal of Applied Corporate Finance, 1997, 10, (1), 21-32 View citations (5)
36. Evidence on the Characteristics of Cross Sectional Variation in Stock Returns
    Journal of Finance, 1997, 52, (1), 1-33 View citations (685)
    See also Working Paper Evidence on the Characteristics of Cross Sectional Variation in Stock Returns, NBER Working Papers (1996) View citations (3) (1996)

1995

37. Momentum Investment Strategies, Portfolio Performance, and Herding: A Study of Mutual Fund Behavior
    American Economic Review, 1995, 85, (5), 1088-1105 View citations (718)
38. Overreaction, Delayed Reaction, and Contrarian Profits
    The Review of Financial Studies, 1995, 8, (4), 973-93 View citations (165)
39. Short-Horizon Return Reversals and the Bid-Ask Spread
    Journal of Financial Intermediation, 1995, 4, (2), 116-132 View citations (66)

1994

40. A Study of Monthly Mutual Fund Returns and Performance Evaluation Techniques
    Journal of Financial and Quantitative Analysis, 1994, 29, (3), 419-444 View citations (141)
41. Financial Distress and Corporate Performance
    Journal of Finance, 1994, 49, (3), 1015-40 View citations (445)
42. Security Analysis and Trading Patterns When Some Investors Receive Information before Others
    Journal of Finance, 1994, 49, (5), 1665-98 View citations (293)

1993

43. Performance Measurement without Benchmarks: An Examination of Mutual Fund Returns
    The Journal of Business, 1993, 66, (1), 47-68 View citations (235)
44. Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency
    Journal of Finance, 1993, 48, (1), 65-91 View citations (3637)
45. The Determinants of Leveraged Buyout Activity: Free Cash Flow vs. Financial Distress Costs
    Journal of Finance, 1993, 48, (5), 1985-99 View citations (131)

1992

46. Interest Rate Swaps and Corporate Financing Choices
    Journal of Finance, 1992, 47, (4), 1503-16 View citations (55)
    Also in Proceedings, 1990, (Nov) (1990)
47. The Persistence of Mutual Fund Performance
    Journal of Finance, 1992, 47, (5), 1977-84 View citations (213)

1991

48. Financial Policy and Reputation for Product Quality
    The Review of Financial Studies, 1991, 4, (1), 175-200 View citations (183)
49. The postmerger share-price performance of acquiring firms
    Journal of Financial Economics, 1991, 29, (1), 81-96 View citations (115)

1990

50. Share Tendering Strategies and the Success of Hostile Takeover Bids
    Journal of Political Economy, 1990, 98, (2), 295-324 View citations (116)

1989

51. Mutual Fund Performance: An Analysis of Quarterly Portfolio Holdings
    The Journal of Business, 1989, 62, (3), 393-416 View citations (387)
    See also Working Paper Mutual Fund Performance: An Analysis of Quarterly Portfolio Holdings, Rodney L. White Center for Financial Research Working Papers View citations (4)
52. Stock Returns as Predictors of Interest Rates and Inflation
    Journal of Financial and Quantitative Analysis, 1989, 24, (1), 47-58 View citations (21)

1987

53. The Relation between Mean-Variance Efficiency and Arbitrage Pricing
    The Journal of Business, 1987, 60, (1), 97-112 View citations (35)

1986

54. Information quality and the valuation of new issues
    Journal of Accounting and Economics, 1986, 8, (2), 159-172 View citations (319)
55. Risk and the Performance of Real Estate Investment Trusts: A Multiple Index Approach
    Real Estate Economics, 1986, 14, (3), 414-431 View citations (40)

1985

56. Approximate Factor Structures: Interpretations and Implications for Empirical Tests
    Journal of Finance, 1985, 40, (5), 1367-73 View citations (5)
57. The Effect of Forward Markets on the Debt-Equity Mix of Investor Portfolios and the Optimal Capital Structure of Firms
    Journal of Financial and Quantitative Analysis, 1985, 20, (1), 19-27 View citations (2)
58. Urban Land Prices under Uncertainty
    American Economic Review, 1985, 75, (3), 505-14 View citations (238)

1984

59. The effect of capital structure on a firm's liquidation decision
    Journal of Financial Economics, 1984, 13, (1), 137-151 View citations (303)
60. The valuation effects of stock splits and stock dividends
    Journal of Financial Economics, 1984, 13, (4), 461-490 View citations (176)

1983

61. Factor pricing in a finite economy
    Journal of Financial Economics, 1983, 12, (4), 497-507 View citations (32)

1982

62. The Effects of Anticipated Inflation on Housing Market Equilibrium
    Journal of Finance, 1982, 37, (3), 827-42 View citations (23)

Chapters

2013

1. Debt, Labor Markets, and the Creation and Destruction of Firms
   A chapter in New Perspectives on Corporate Capital Structure, 2013

2007

2. Firms' Stakeholders and the Costs of Transparency
   A chapter in Entrepreneurship: Strategy and Structure, 2007 View citations (3)
   See also Working Paper Firms' Stakeholders and the Costs of Transparency, National Bureau of Economic Research, Inc (2007) View citations (5) (2007)
   Journal Article Firms' Stakeholders and the Costs of Transparency, Wiley Blackwell (2009) View citations (7) (2009)

Editor

1. International Review of Finance
   International Review of Finance Ltd.