• Publications
  • Influence
A Simple Approximation of Tobin's Q
This paper develops a simple formula for approximating Tobin's q. The formula requires only basic financial and accounting information. Results of a series of regressions comparing our approximate qExpand
  • 2,002
  • 138
The relationship between major-league sports’ official sponsorship announcements and the stock prices of sponsoring firms
This study presents analysis of the impact of “official product” sports sponsorships with the National Football League (NFL), Major League Baseball (MLB), the National Hockey League (NHL), theExpand
  • 136
  • 17
Corporate Stadium Sponsorships, Signalling Theory, Agency Conflicts and Shareholder Wealth
ABSTRACT Contrary to the plethora of critical articles recently appearing in both the popular and business press, this carefully controlled investigation of 49 stadium-and arena-naming-rightsExpand
  • 147
  • 15
The Interactions between the Investment, Financing, and Dividend Decisions of Major U.S. Firms
This paper uses 114 responses to a June 1988 mail questionnaire survey of the financial managers of the 1,000 largest U.S. firms to examine Modigliani and Miller's "separation principle." TheExpand
  • 212
  • 13
Executive ownership, corporate value, and executive compensation: A unifying framework
This study presents an integrated investigation into the factors affecting executive ownership, the market value of the finn, and executive compensation by explicitly incorporating the simultaneityExpand
  • 190
  • 12
  • PDF
The Value of Winning in Motorsports: Sponsorship-linked Marketing
ABSTRACT Corporate sponsorship of events, especially sports, has become a commonplace marketing communications tool. Still at question in sponsorship-linked marketing programs is the economic valueExpand
  • 143
  • 10
The impact of title event sponsorship announcements on shareholder wealth
Title sponsorships are often considered the crown jewels of sports sponsorship programs. Garnering top media coverage, title sponsorships are prized for both generating brand/product awareness andExpand
  • 105
  • 10
Institutional Ownership and Changes in the S&P 500
Several recent articles have provided new evidence for the existence of price pressures by examining the price and volume effects associated with changes in the S&P 500. The present study extendsExpand
  • 142
  • 10
The NASCAR Phenomenon: Auto Racing Sponsorships and Shareholder Wealth
ABSTRACT This study presents the first analysis of the impact of NASCAR sponsorship announcements on the stock prices of sponsoring firms. The primary finding of the study--that NASCAR sponsorshipExpand
  • 109
  • 8
The Impact of Product Recalls on the Wealth of Sellers: A Reexamination
In a recent article in this Journal, Jarrell and Peltzman (1985) opened an important new area to event study research when they analyzed the effect of automobile and drug product recalls on theExpand
  • 170
  • 6