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- Publications
- Influence
Financing Constraints and Corporate Investment
- Steven M. Fazzari, Bruce C. Petersen, R. Glenn Hubbard
- 1 September 1987
Most empirical models of investment rely on the assumption that firms are able to respond to prices set in centralized securities markets (through the "cost of capital" or "q"). An alternative… Expand
Market Structure and Cyclical Fluctuations in U.S. Manufacturing
- Ian Domowitz, Bruce C. Petersen, R. Glenn Hubbard
- Economics
- 1 December 1986
The relevance of imperfect competition for models of aggregate economic fluctuations has received increased attention from researchers in both macroeconomics and industrial organization. Measuring… Expand
Investment, Financing Decisions, and Tax Policy
- Steven M. Fazzari, Bruce C. Petersen, R. Glenn Hubbard
- Economics
- 1 May 1989
Studies of tax policy and corporate investment have been prominent in public finance and macroeconomic research. By integrating corporate income tax rates, investment tax credits, and the value of… Expand
Financing Constraints and Corporate Investment: Response to Kaplan and Zingales
- Bruce C. Petersen, R. Glenn Hubbard, Steven M. Fazzari
- Economics
- 1 January 1996
Kaplan and Zingales (1995, hereafter KZ) criticize Fazzari, Hubbard and Petersen (1988, hereafter FHP) and much ensuing research that uses cross-sectional differences in firm behavior to test for… Expand
Investor Protection, Ownership, and the Cost of Capital
- Charles P. Himmelberg, R. Glenn Hubbard, I. Love
- 1 April 2004
Himmelberg, Hubbard, and Love combine the agency theory of the firm with risk diversification incentives for insiders. Principal-agent problems between insiders and outsiders force insiders to retain… Expand
Coming Home to America: Dividend Repatriations by U.S. Multinationals
- James R. Hines Jr., R. Glenn Hubbard
- Business
- 1 April 1989
This paper analyzes the financial flows from foreign subsidiaries of American multinational corporations to their parent corporations in the U.S. These repatriations are important not only to U.S.… Expand
The Effect of Medicare Coverage for the Disabled on the Market for Private Insurance
- John F. Cogan, Daniel P. Kessler, R. Glenn Hubbard
- Business, Medicine
- Journal of health economics
- 1 September 2008
We investigate whether the removal of high-cost individuals from private insurance markets leads to greater coverage for individuals who are similar but not as high cost. Using data on insurance… Expand
Business Cycles and Oligopoly Supergames: Some Empirical Evidence on Prices and Margins
- Ian Domowitz, Bruce C. Petersen, R. Glenn Hubbard
- Economics
- 1 October 1986
There has been a significant interest on a theoretical level in the application of supergames to oligopoly behavior. Implications for pricing behavior in trigger-strategy models in response to… Expand
The Response of Deferred Executive Compensation to Changes in Tax Rates
- Aspen Gorry, K. Hassett, R. Glenn Hubbard, A. Mathur
- Economics
- 1 September 2015
Given the increasing use of stock options in executive compensation, we examine how taxes influence the choice of compensation and document that income deferral is an important margin of adjustment… Expand
Should the Modern Corporation Maximize Shareholder Value?
- S. Bhagat, R. Glenn Hubbard
- Business
- 3 March 2020
Milton Friedman’s admonition 50 years ago that the modern corporation should maximize shareholder value remains controversial. We argue that under certain broad assumptions, the admonition remains a… Expand