Does corporate governance affect the timing of large investment projects? Hazard model estimates suggest strong shareholder governance may deter managers from pursuing large investments. Controlling for investment opportunities, firms with good governance experience longer spells between large...

We document a capital supply channel in the connections between firms' and their peers' SEOs. Financially constrained firms are more likely to do an SEO (have higher SEO hazards) when more of their peers conducted an SEO within the prior six months. Positive exogenous shocks to indexer equity...

Does corporate governance affect the timing of large investment projects? Hazard model estimates suggest strong shareholder governance may deter managers from pursuing large investments. Controlling for investment opportunities, firms with good governance experience longer spells between large...

Firm investment-stock price sensitivity declines in S&P500 index membership, consistent with indexing undermining the “feedback” channel. To address endogeneity, we show that non-indexed focal firm investment is less sensitive to stock prices of peer firms in the index. Results are...

Unlike equity offerings or public debt offerings, bank loan financing elicits a significantly positive announcement return, which has led financial economists to characterize bank loans as quot;specialquot; or somehow different from other types of external finance. Here, we find that firms...