Capital Reallocation and Liquidity

By Andrea L. Eisfeldt, Adriano A. Rampini. 2006

478 citations recorded by the source corpus.

Subfields: Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/13e70d924ece594bc31571ce2e8980375b20a848

Citations in the corpus

• To what extent does corporate liquidity affect M&A decisions, method of payment and performance? Evidence from China (2017, unknown): “Similarly, Eisfeldt and Rampini (2006) observe that procyclical capital liquidity goes hand in hand with capital reallocation among firms, suggesting that liquidity is a critical factor for industry shocks to generate merger waves.”
• Corporate Real Estate Holdings and the Cross-Section of Stock Returns (2010, unknown): “Investment (and resale) prices are high during economic booms, and they are depressed during recessions, consistent with the conclusion of Eisfeldt and Rampini (2006), who find that costs of reallocation are substantially countercyclical.”
• Organization Capital and the Cross-Section of Expected Returns (2013, unknown): “We consider two proxies for x: the turnover rate in Property, Plant and Equipment (PPE) series constructed in Eisfeldt and Rampini (2006), and the number of new IPOs, from Ibbotson, Sindelar and Ritter (1994), excluding penny stocks, units and closed end funds.”
• The Role of Trading Frictions in Real Asset Markets (2011, unknown): “max {VB (z) , WB (z)} dF (z) r + λ (21)”
• Executive Compensation and the Role for Corporate Governance Regulation (2012, unknown): “This could be tested across industries, countries, or time.18 Eisfeldt and Rampini(2006) find that dispersion of productivity is countercyclical using census data; the variance of productivity is higher in recessions than in booms.”
• Endogenous Liquidity and the Business Cycle (2015, unknown): “Several recent studies, for example Gertler and Karadi [2009], Curdia and Woodford [2009], Gertler and Kiyotaki [2010] or del Negro et al.”
• Private and Public Merger Waves (2012, unknown): “(2001) and Harford (2005), among others. Maksimovic and Phillips (2001) point out the procyclicality of the market for acquisitions.”
• Leasing and Secondary Markets: Theory and Evidence from Commercial Aircraft (2011, unknown): “Similarly, we can rearrange equations (19) and (20) to obtain:”
• Entry, Exit, Firm Dynamics, and Aggregate Fluctuations (2016, unknown): “7 Evans (1987) and Hall (1987) found evidence that firm growth declines with size even when we condition on age, and viceversa. Hopenhayn (1992) is consistent with these facts, with the exception of the conditional correlation between growth and age.”
• Leasing, Ability to Repossess, and Debt Capacity (2009, unknown): “Eisfeldt and Rampini (2006a) document the importance of capital reallocation and Gavazza (2006a) studies aircraft leasing and finds evidence consistent with the hypothesis that lessors have a transaction cost advantage in redeploying capital and hence are capital reallocation intermediaries. Related”