Financial Management

2006 - 2025

Continuation of Financial Management.

Current editor(s): William G. Christie

From Financial Management Association International
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Volume 40, issue 4, 2011

Financial Distress in the Great Depression pp. 821-844

John R. Graham, Sonali Hazarika and Krishnamoorthy Narasimhan

When Do Vertical Mergers Create Value? pp. 845-877

Simi Kedia, S. Abraham Ravid and Vicente Pons

Does the Management's Forecast of Merger Synergies Explain the Premium Paid, the Method of Payment, and Merger Motives? pp. 879-910

Ahmad Ismail

Buy Smart, Time Smart: Are Takeovers Driven by Growth Opportunities or Mispricing? pp. 911-940

Sjoerd Van Bekkum, Han Smit and Enrico Pennings

An Empirical Examination of the Stated Purposes of Issuer Tender Offers to Purchase Common Stock pp. 941-972

Jessica Kay Dunn, Alex Fayman and Jamie John McNutt

Corporate Repurchase Decisions Following Mutual Fund Sales pp. 973-999

Evan Dudley and Ani Manakyan

Information Discovery in Share Lockups: Evidence from the Split‐Share Structure Reform in China pp. 1001-1027

Li Liao, Bibo Liu and Hao Wang

VC Fund Financial Performance: The Relative Importance of IPO and M&A Exits and Exercise of Abandonment Options pp. 1029-1065

Richard Smith, Roberto Pedace and Vijay Sathe

Characterizing the Risk of IPO Long‐Run Returns: The Impact of Momentum, Liquidity, Skewness, and Investment pp. 1067-1086

Richard B. Carter, Frederick H. Dark, Ioannis V. Floros and Travis R. A. Sapp

Innovate to Survive: The Effect of Technology Competition on Corporate Bankruptcy pp. 1087-1117

Assaf Eisdorfer and Po-Hsuan Hsu

Volume 40, issue 3, 2011

Does Fair Value Reporting Affect Risk Management? International Survey Evidence pp. 525-551

Karl Lins, Henri Servaes and Ane Tamayo

Determinants of Profit Reinvestment by Small Businesses in Emerging Economies pp. 553-590

Sugato Chakravarty and Meifang Xiang

Earnings Management and the Post‐earnings Announcement Drift pp. 591-621

Henock Louis and Amy X. Sun

Information Leakage Prior to Company Issued Guidance pp. 623-646

Anna Agapova and Jeff Madura

Corporate Disclosure, Market Valuation, and Firm Performance pp. 647-676

Yawen Jiao

Self‐Expropriation versus Self‐Interest in Dual‐Class Voting: The Pirelli Case Study pp. 677-699

Marco Bigelli and Stefano Mengoli

Payout Policy with Legal Restrictions pp. 701-732

Sattar A. Mansi and John K. Wald

Clawbacks and Cronyism: Evidence from China pp. 733-756

Linda Allen and Guangzhong Li

Sell‐Side Analyst Bias When Investment Banks Have Privileged Access to the Board pp. 757-784

Maria Carapeto and Miles B. Gietzmann

The Effects of Advertising on Mutual Fund Flows: Results from a New Database pp. 785-809

Murat Aydogdu and Jay W. Wellman

Volume 40, issue 2, 2011

Deregulation and Risk pp. 295-329

Elias Semaan and Pamela Peterson Drake

Resolving the Presidential Puzzle pp. 331-355

Oumar Sy and Ashraf Al Zaman

Understanding Investor Sentiment: The Case of Soccer pp. 357-380

Gennaro Bernile and Evgeny Lyandres

Value versus Growth: Time‐Varying Expected Stock Returns pp. 381-407

Huseyin Gulen, Yuhang Xing and Lu Zhang

Fear and the Fama‐French Factors pp. 409-426

Robert B. Durand, Dominic Lim and J. Kenton Zumwalt

Why Larger Lenders Obtain Higher Returns: Evidence from Sovereign Syndicated Loans pp. 427-453

Issam Hallak and Paul Schure

Market Segmentation and the Cost of Capital in a Domestic Market: Evidence from Municipal Bonds pp. 455-481

Christo A. Pirinsky and Qinghai Wang

Job Market Signaling: What Drives the Productivity of Finance Ph.D.s? pp. 483-513

Donald Flagg, Otis W. Gilley and Jung Chul Park

Volume 40, issue 1, 2011

Letter from the Editor pp. 1-4

William G. Christie

The Economics of Director Heterogeneity pp. 5-38

Ronald C. Anderson, David Reeb, Arun Upadhyay and Wanli Zhao

Deviations from Expected Stakeholder Management, Firm Value, and Corporate Governance pp. 39-81

Bradley W. Benson, Wallace N. Davidson, Hongxia Wang and Dan L. Worrell

Corporate Governance and Dividend Payout Policy: A Test Using Antitakeover Legislation pp. 83-112

Bill B. Francis, Iftekhar Hasan, Kose John and Liang Song

Does Corporate Headquarters Location Matter for Firm Capital Structure? pp. 113-138

Wenlian Gao, Lilian Ng and Qinghai Wang

Corporate Governance, Valuation, and Performance: Evidence from a Voluntary Market Reform in Brazil pp. 139-157

Marcus V. Braga‐Alves and Kuldeep Shastri

Does Corporate Governance Predict Future Performance? Evidence from Hong Kong pp. 159-197

Yan‐Leung Cheung, J. Thomas Connelly, Ping Jiang and Piman Limpaphayom

Co‐managers, Information, and the Secondary Market Liquidity of Initial Public Offerings pp. 199-218

Marius Popescu and Zhaojin Xu

Underwriter Quality and Long‐Run IPO Performance pp. 219-251

Ming Dong, Jean‐Sébastien Michel and J. Ari Pandes

The Performance of Private Equity‐Backed IPOs pp. 253-277

Mario Levis

Volume 39, issue 4, 2010

Conglomerate Structure and Capital Market Timing pp. 1307-1338

Xin Chang, Gilles Hilary, Chia Mei Shih and Lewis Tam

Financial Flexibility, Investment Ability, and Firm Value: Evidence from Firms with Spare Debt Capacity pp. 1339-1365

Maria‐Teresa Marchica and Roberto Mura

What Matters in Venture Capital? Evidence from Entrepreneurs’ Stated Preferences pp. 1367-1401

Ola Bengtsson and Frederick Wang

Are Initial Returns and Underwriting Spreads in Equity Issues Complements or Substitutes? pp. 1403-1423

Dongcheol Kim, Darius Palia and Anthony Saunders

The Certification Role of Large Customers in the New Issues Market pp. 1425-1474

William C. Johnson, Jun‐Koo Kang and Sangho Yi

Retail Trading and IPO Returns in the Aftermarket pp. 1475-1495

Yue‐Cheong Chan

The Effects of Ambiguous Information on Initial and Subsequent IPO Returns pp. 1497-1519

Tom Arnold, Raymond P.H. Fishe and David North

Acquisition Activity and IPO Underpricing pp. 1521-1546

Thomas J. Boulton, Scott B. Smart and Chad J. Zutter

Merger‐Motivated IPOs pp. 1547-1573

Armen Hovakimian and Irena Hutton

Seasoned Equity Offers: The Effect of Insider Ownership and Float pp. 1575-1599

Vincent J. Intintoli and Kathleen M. Kahle

Management Quality and Equity Issue Characteristics: A Comparison of SEOs and IPOs pp. 1601-1642

Thomas Chemmanur, Imants Paeglis and Karen Simonyan

Executive Stock Option Exercise and Seasoned Equity Offerings pp. 1643-1670

Brandon N. Cline and Xudong Fu

Gains from Mergers and Acquisitions Around the World: New Evidence pp. 1671-1695

G. Alexandridis, Dimitris Petmezas and N.G. Travlos

A Competing Risks Analysis of Corporate Survival pp. 1697-1718

Qing He, Terence Tai Leung Chong, Li Li and Jun Zhang

Emerging from Chapter 11 Bankruptcy: Is It Good News or Bad News for Industry Competitors? pp. 1719-1742

Gaiyan Zhang

Volume 39, issue 3, 2010

Family Control of Firms and Industries pp. 863-904

Belén Villalonga and Raphael Amit

Differences between Politically Connected and Nonconnected Firms: A Cross‐Country Analysis pp. 905-928

Mara Faccio

The Relation between Stakeholder Management, Firm Value, and CEO Compensation: A Test of Enlightened Value Maximization pp. 929-964

Bradley W. Benson and Wallace N. Davidson

Hedging Affecting Firm Value via Financing and Investment: Evidence from Property Insurance Use pp. 965-996

Hong Zou

A Law and Finance Analysis of Hedge Funds pp. 997-1026

Douglas Cumming and Na Dai

What Drives the Issuance of Putable Convertibles: Risk‐Shifting, Asymmetric Information, or Taxes? pp. 1027-1068

Thomas Chemmanur and Karen Simonyan

Locked Up by a Lockup: Valuing Liquidity as a Real Option pp. 1069-1096

Andrew Ang and Nicolas P.B. Bollen

Exercises of Executive Stock Options on the Vesting Date pp. 1097-1126

Xudong Fu and James A. Ligon

Can Operating Leverage Be the Cause of the Value Premium? pp. 1127-1154

Luis García‐Feijóo and Randy D. Jorgensen

Momentum and the Disposition Effect: The Role of Individual Investors pp. 1155-1176

Jungshik Hur, Mahesh Pritamani and Vivek Sharma

Around‐the‐Clock Performance of Closed‐End Funds pp. 1177-1196

Ben Branch, Aixin Ma and Jill Sawyer

Excess Cash and Stock Returns pp. 1197-1222

Mikhail Simutin

Investor Inattention and the Underreaction to Stock Recommendations pp. 1223-1252

Roger K. Loh

Information Asymmetry Determinants of Sarbanes‐Oxley Wealth Effects pp. 1253-1272

Aigbe Akhigbe, Anna D. Martin and Melinda L. Newman

The Impact of Regulation FD on Institutional Investor Informativeness pp. 1273-1294

Douglas O. Cook and Tian Tang

Volume 39, issue 2, 2010

Stockholder and Bondholder Wealth Effects of CEO Incentive Grants pp. 463-487

Matthew T. Billett, David C. Mauer and Yilei Zhang

The Notching Rule for Subordinated Debt and the Information Content of Debt Rating pp. 489-513

Kose John, S. Abraham Ravid and Natalia Reisel

Split Bond Ratings and Information Opacity Premiums pp. 515-532

Miles Livingston and Lei Zhou

Ratings Changes, Ratings Levels, and the Predictive Value of Analysts’ Recommendations pp. 533-553

Brad Barber, Reuven Lehavy and Brett Trueman

The First Analyst Coverage of Neglected Stocks pp. 555-584

Cem Demiroglu and Michael Ryngaert

The Quality and Price of Investment Banks’ Service: Evidence from the PIPE Market pp. 585-612

Na Dai, Hoje Jo and John D. Schatzberg

Callable Bonds Revisited pp. 613-641

John C. Banko and Lei Zhou

Speed of Issuance, Lender Specialization, and the Rise of the 144A Debt Market pp. 643-673

Rongbing Huang and Gabriel Ramirez

An Empirical Comparison of Convertible Bond Valuation Models pp. 675-706

Yuriy Zabolotnyuk, Robert Jones and Chris Veld

Default Risk in Corporate Yield Spreads pp. 707-731

Georges Dionne, Geneviève Gauthier, Khemais Hammami, Mathieu Maurice and Jean‐Guy Simonato

The Impact of Financing Surpluses and Large Financing Deficits on Tests of the Pecking Order Theory pp. 733-756

Abe De Jong, Marno Verbeek and Patrick Verwijmeren

How Do Firm Characteristics Influence the Relationship between R&D and Firm Value? pp. 757-782

Julio Pindado, Valdoceu De Queiroz and Chabela De La Torre

Net Operating Working Capital Behavior: A First Look pp. 783-805

Matthew D. Hill, G. Wayne Kelly and Michael J. Highfield

Peer Effects in the Trading Decisions of Individual Investors pp. 807-831

Lilian Ng and Fei Wu

Market Misvaluation, Managerial Horizon, and Acquisitions pp. 833-850

Huasheng Gao

Volume 39, issue 1, 2010

Letter from the Editor pp. 1-3

Bill Christie

Shareholder Value: Principles, Declarations, and Actions pp. 5-32

Claudio Loderer, Lukas Roth, Urs Waelchli and Petra Joerg

Protecting Minority Shareholders: Listed versus Unlisted Firms pp. 33-57

Claudio Loderer and Urs Waelchli

Are Member Firms of Corporate Groups Less Risky? pp. 59-82

Carl R. Chen, Weiyu Guo and Nicholas S.P. Tay

Takeover Immunity, Takeovers, and the Market for Nonexecutive Directors pp. 83-127

Rasha Ashraf, Rajesh Chakrabarti, Richard Fu and Narayanan Jayaraman

Do Corporate Venture Capitalists Add Value to Start‐Up Firms? Evidence from IPOs and Acquisitions of VC‐Backed Companies pp. 129-152

Vladimir I. Ivanov and Fei Xie

Do Privatization IPOs Outperform in the Long Run? pp. 153-185

Seung‐Doo Choi, Inmoo Lee and William Megginson

Managing News Coverage around Initial Public Offerings pp. 187-225

Chia‐Cheng Ho, Chi‐Ling Huang, Chien‐Ting Lin and George Y.C. Lin

The Long‐Run Performance of Sponsored and Conventional Spin‐Offs pp. 227-247

April Klein and James Rosenfeld

Overinvestment and the Operating Performance of SEO Firms pp. 249-272

Fangjian Fu

Do Lead Banks Exploit Syndicate Participants? Evidence from Ex Post Risk pp. 273-299

Kamphol Panyagometh and Gordon S. Roberts

Insider Trading after Repurchase Tender Offer Announcements: Timing versus Informed Trading pp. 301-322

Henock Louis, Amy X. Sun and Hal White

Intraday Behavior of Stock Prices and Trades around Insider Trading pp. 323-363

A. Can Inci, Biao Lu and H. Nejat Seyhun

Mutual Fund Incentive Fees: Determinants and Effects pp. 365-392

Danilo Drago, Valter Lazzari and Marco Navone

How the Legal System Affects the Equity Mix in Executive Compensation pp. 393-418

Stephen Bryan, Robert Nash and Ajay Patel

Do Tax Law Changes Influence Ex‐Dividend Stock Price Behavior? Evidence from 1926 to 2005 pp. 419-445

Jeff Whitworth and Ramesh Rao