• Publications
  • Influence
Board Characteristics, Accounting Report Integrity, and the Cost of Debt
Creditor reliance on accounting-based debt covenants suggests that debtors are potentially concerned with board of director characteristics that influence the integrity of financial accountingExpand
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Founding Family Ownership and the Agency Cost of Debt
We investigate the impact of founding family ownership structure on the agency cost of debt. We find that founding family ownership is common in large, publicly traded firms and is related, bothExpand
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  • 111
  • PDF
Corporate governance and firm cash holdings in the US
Using governance metrics based on antitakeover provisions and inside ownership, we find that firms with weaker corporate governance structures actually have smaller cash reserves. When distributingExpand
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Does Auditor Quality and Tenure Matter to Investors? Evidence from the Bond Market
We examine the relation between auditor characteristics (quality and tenure) and the cost of debt financing. Consistent with the hypothesis that audit characteristics are important to the capitalExpand
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Does Corporate Governance Matter to Bondholders
We examine the relation between the cost of debt financing and a governance index that contains various antitakeover and shareholder protection provisions. Using firm-level data from the InvestorsExpand
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Corporate Diversification: What Gets Discounted?
Prior literature finds that diversified firms sell at a discount relative to the sum of the imputed values of their business segments. We explore this documented discount and argue that it stems fromExpand
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Corporate Governance and Firm Cash Holdings
We examine the relation between the management of cash holdings and corporate governance. We find that firms with weaker corporate governance have smaller cash reserves. Further tests suggest thatExpand
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Does Corporate Governance Matter to Bondholders?
We examine the relation between the cost of debt financing and a governance index that contains various antitakeover and shareholder protection provisions. Using firm-level data from the InvestorsExpand
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  • PDF
Firm Internationalization and the Cost of Debt Financing: Evidence from Non-Provisional Publicly Traded Debt
Recent research suggests that firm internationalization is associated with greater exchange rate risk and a higher cost of equity capital. However, there is no research on the relation between theExpand
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Founding Family Ownership and the Agency Cost of Debt
We investigate the impact of founding family ownership structure on the agency cost of debt. We find that founding family ownership is common in large, publicly traded firms and is related, bothExpand
  • 462
  • 6