• Publications
  • Influence
Who Blinks in Volatile Markets, Individuals or Institutions?
We investigate the relationship between the ownership structure and returns of firms on days when the absolute value of the market's return is two percent or more. We find that a firm's abnormalExpand
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Do Non-U.S. Firms Issue Equity on U.S. Stock Exchanges to Relax Capital Constraints?
The positive market reaction associated with an ADR listing is frequently attributed to a reduction in market segmentation costs that improves access to capital. If so, the benefit should be greatestExpand
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Studying Wind Energy/Bird Interactions: A Guidance Document
This guidance document is a product of the Avian Subcommittee of the National Wind Coordinating Committee (NWCC). The NWCC was formed to better understand and promote responsible, credible, andExpand
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A requiem for the USA Is small shareholder monitoring effective
Abstract From 1986 to 1993, the United Shareholders Association (USA) provided a conduit through which small shareholders could unite and attempt to influence the governance of large US corporations.Expand
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Does Shareholder Composition Matter? Evidence from the Market Reaction to Corporate Earnings Announcements
We examine whether institutional ownership composition is related to parameters of the market reaction to negative earnings announcements. When firms report earnings below analysts' expectations, theExpand
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Endocytosis of urokinase-plasminogen activator inhibitor type 1 complexes bound to a chimeric transmembrane urokinase receptor.
  • H. Li, A. Kuo, +4 authors D. Cines
  • Chemistry, Medicine
  • The Journal of biological chemistry
  • 18 March 1994
The urokinase receptor (uPAR) is linked to plasma membranes through a glycosylphosphatidylinositol (GPI) anchor. It has been posited that the GPI anchor facilitates clearance of uPAR-bound complexesExpand
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The Effect of Stock Splits on Liquidity: Evidence from Shareholder Ownership Composition
The traditional view of stock splits as cosmetic transactions that simply divide the same pie into more slices is inconsistent with the significant wealth effect associated with the announcement of aExpand
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The Effect Of Stock Splits On Liquidity And Excess Returns: Evidence From Shareholder Ownership Composition
We examine the influence of firm ownership composition on both the abnormal returns at the announcement of a stock split and liquidity changes following a stock split. We find three results. First,Expand
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Determinants of Institutional Ownership: Implications for Dividend Clienteles
This paper investigates whether the tax disadvantage of dividends results in a relation between institutional portfolio allocations and dividend yield. I analyze the holdings of tax-exempt andExpand
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Toeholds as an M&A strategy?
“Toeholds” are a merger-and-acquisition (M&A) strategy, where a company buys a limited number of shares in a target firm prior to initiating M&A discussions with the target firm. Toeholds can lowerExpand
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