• Publications
  • Influence
Corporate Governance and Liquidity
We investigate the empirical relation between corporate governance and stock market liquidity. We find that firms with better corporate governance have narrower spreads, higher market quality index,Expand
  • 375
  • 29
Dividend Payouts and Corporate Governance Quality: An Empirical Investigation
Motivated by agency theory, we investigate how a firm's overall quality of corporate governance affects its dividend policy. Using a large sample of firms with governance data from The InstitutionalExpand
  • 136
  • 9
Capital Structure and Corporate Governance Quality: Evidence from the Institutional Shareholder Services (ISS)
Grounded in agency theory, this study explores how capital structure is influenced by aggregate corporate governance quality. We measure governance quality using broad-based comprehensive governanceExpand
  • 88
  • 8
  • PDF
A comparison of volatility and bid–ask spread for NASDAQ and NYSE after decimalization
We compare volatility and transaction costs for National Association of Securities Dealers Automated Quotations (NASDAQ) and New York Stock Exchange (NYSE) firms after decimalization. Using the dataExpand
  • 16
  • 5
The Sarbanes-Oxley Act of 2002 and Market Liquidity
Investors rely heavily on the trustworthiness and accuracy of corporate information to provide liquidity to the capital markets. We find that the rash of financial scandals caused a severeExpand
  • 87
  • 2
Trends and Determinants of Market Liquidity in the Pre- and Post-Sarbanes-Oxley Act Periods
Investors and market makers rely heavily on the trustworthiness and accuracy of corporate information to provide liquidity and vibrancy to the capital markets. A rash of financial scandals during theExpand
  • 28
  • 2
Liquidity, analysts, and institutional ownership
In this paper, we investigate the empirical relationship between institutional ownership, number of analysts following and stock market liquidity. We find that firms with larger number of financialExpand
  • 25
  • 2
Information Asymmetry and Corporate Cash Holdings
This study analyzes the effect of information asymmetry on corporate cash holdings. Using various measures of information asymmetry, this study shows that companies that operate in environments withExpand
  • 20
  • 2
  • PDF
Empirical Analysis of the Impact of 2003 Blackout on Security Values of U.S. Utilities and Electrical Equipment Manufacturing Firms
On August 14, 2003, the U.S. faced the largest blackout in history, which left over 50 million people without electricity in eight U.S. states and part of Canada. This paper investigates the effectsExpand
  • 37
  • 1
TRADING COSTS OF NON‐U.S. STOCKS ON THE NEW YORK STOCK EXCHANGE: THE EFFECT OF INSTITUTIONAL OWNERSHIP, ANALYST FOLLOWING, AND MARKET REGULATION
We investigate the differences in market microstructure between U.S. and non-U.S. stocks cross-listed on the New York Stock Exchange using a sample of 316 pairs of matched stocks. We find thatExpand
  • 29
  • 1