Financial Constraints and Stock Returns

By O. Lamont, Christopher Polk, Jesús Saá-Requejo. 2001

1,382 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/98e5c68d8921fcf721fb3b5ae9fffba90daa834f

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

In Finance

In Strategy and Management

Citations in the corpus

Optimal interest rate rules, asset prices, and credit frictions (2005, neutral): “In order to parameterize the degree of price stickiness #, we observe that, by loglinearizing equation (26) we can obtain an elasticity of ination to real marginal cost (normalized by the steady-state level of output)10 that takes the form " 1 # .”
Underinvestment vs. overinvestment: Evidence from price reactions to pension contributions (2009, positive): “A number of studies find evidence of factors related to financial constraints in asset prices (Perez-Quiros and Timmermann (2000), Lamont, Polk, and Saa-Requejo (2001), Gomes, Yaron, and Zhang (2006), and Whited and Wu (2006)).”
Post-innovation CSR Performance and Firm Value (2015, neutral): “…and expands the investor base by attracting financing from socially conscious investors, effectively increasing access to less expensive external financing (Heinkel et al. 2001; McWilliams and Siegel 2001; Lamont et al. 2001; Dhaliwal et al. 2011; El Ghoul et al. 2011; Cheng et al. 2014).”
Post-Merger Restructuring and the Boundaries of the Firm (2011, neutral): “An early contribution is the KZ index derived by Kaplan and Zingales (1997) and developed by Lamont, Polk, and Saa-Requejo (2001).”
Does corporate social responsibility affect the cost of capital (2011, positive): “constraints as implemented by Lamont et al. (2001). based on Compustat data”
Financial Constraints Risk (2006, positive): “It is constructed in a similar fashion to Table 4 of Lamont et al. (2001), except that we use the structural financial constraint index instead of the KZ index and we use quarterly accounting data instead of the annual data.”
Yield Spreads as Alternative Risk Factors for Size and Book-to-Market (2006, positive): “1Some of the recent papers in empirical asset pricing that use the three-factor model of Fama and French (1993) for risk adjustment before examining other potential sources of risk include Ang, Chen, and Xing (2002), Lamont, Polk, and Saá-Requejo (2001), and Pastór and Stambaugh (2003).”