Financing Decisions: Who Issues Stock?

2005

411 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/115a98ad58ebf4ee876bb437350e30477639737d

Citations in the corpus

• Do Lenders Value Corporate Social Responsibility? Evidence from China (2011, neutral): “From 1993 to 2002 debt financing accounted for 72% of the external financing among US-listed firms (Fama and French 2005).”
• Do Stock Prices Influence Corporate Decisions? Evidence from the Technology Bubble (2013, positive): “31Following Baker et al. (2003) and Fama and French (2005), our issuance proxy uses book rather than market values.”
• A Resolution of the Distress Risk and Leverage Puzzles in the Cross Section of Stock Returns (2010, neutral): “(2001), Fama and French (2002), Koraczyk and Levy (2003), Fama and French (2005), Hennessy and Whited (2005), Faulkender and Petersen (2006), Leary and Roberts (2005), Kayhan and Titman (2007)].”
• Seasoned Equity Offerings, Market Timing, and the Corporate Lifecycle (2010, positive): “Fama and French (2005) measure the financing deficit as the one-year change in the book value of total assets minus the change in retained earnings which, through the accounting identity, equals the change in total liabilities (not limited to debt) plus the change in contributed equity capital.”
• Debt Capacity and Tests of Capital Structure Theories (2010, neutral): “, Rajan and Zingales (1995), Frank and Goyal (2003), and Fama and French (2002)). Asset tangibility is measured as the ratio of property, plant, and equipment (PPE) (data item 8) to total assets. Firms with more tangible assets are expected to have lower costs associated with financial distress. The”
• Average Returns, B/M, and Share Issues (2008, positive): “Thus, prior work says that firms that issue stock tend to have large (past and future) investments relative to earnings, while the opposite is true for firms that repurchase (Fama and French (2005)).”
• Investment and Cash Flow: New Evidence (2016, positive): “The means and standard deviations of the variables provide only weak evidence that debt is a more important source of new funds than equity, consistent with Frank and Goyal (2003) and Fama and French (2005).”
• Why has the investment-cash flow sensitivity declined so sharply? Rising R&D and equity market developments (2009, positive): “Beginning with Fazzari et al. (FHP, 1988), the standard approach to measuring the ICF sensitivity has been to estimate a fixed effects regression of physical investment on cash flow and Tobin’s Q (as a control for investment demand). The typical study separates firms into multiple groups based on th”
• Financing Innovation and Growth: Cash Flow, External Equity, and the 1990s R&D Boom (2009, neutral): “Brown (2006), Fama and French (2005) and Frank and Goyal (2003) also present facts on the use of public equity finance.”
• Corporate Investment and Financing Under Asymmetric Information (2011, positive): “The behavior of constrained firms in the separating equilibrium is consistent with the empirical findings in Hall (1987), Evans (1987), and Dune and Hughes (1994) that small (and presumably more financially constrained) firms invest more and grow faster than large firms.”
• Market Timing, Investment, and Risk Management (2012, neutral): “More recent dynamic models of investment with financial constraints include Gomes (2001), Hennessy and Whited (2005, 2007), Riddick and Whited (2009), and BCW, among others. However, all these models assume that financing conditions are timeinvariant. Our work is also related to two other sets of dy”
• Debt Financing and Financial Flexibility Evidence from Proactive Leverage Increases (2012, positive): “Large adjustment costs are also difficult to rationalize in the face of pervasive unused lines of credit (Sufi 2009), access to the commercial paper market (Kahl, Shivdasani & Wang 2008), and low-cost (non-SEO) methods of issuing equity (Fama and French 2005).”