JFE Hall of Fame

The Journal of Financial Economics, Hall of Fame, Volumes 1-111, 1974-2012*
Title V N Date PB PE Authors Citations/
Year
Risk and return: The case of merging firms 1 4 Dec-74 303 336 G. Mandelker 7.5
Price performance of common stock new issues 2 3 Sep-75 235 272 R.G. Ibbotson 6.2
Theory of the firm: Managerial behavior, agency costs and ownership structure 3 4 Oct-76 305 360 M.C. Jensen, W.H. Meckling 182.4
Option pricing when underlying stock returns are discontinuous 3 1 Jan-76 125 144 R.C. Merton 23.1
The valuation of options for alternative stochastic processes 3 1 Jan-76 145 166 J.C. Cox, S.A. Ross 17.8
The pricing of commodity contracts 3 1 Jan-76 167 179 F. Black 16.3
A critique of the asset pricing theory's tests: Part I: On past and potential testability of the theory 4 2 Mar-77 129 176 R. Roll 18.7
Determinants of corporate borrowing 5 2 Nov-77 147 176 S.C. Myers 41.8
An equilibrium characterization of the term structure 5 2 Nov-77 177 188 O.A. Vasicek 28.3
Estimating betas from nonsynchronous data 5 3 Dec-77 309 328 M.S. Scholes, J. Williams 20.9
Asset returns and inflation 5 2 Nov-77 115 146 E.F. Fama, G.W. Schwert 14.5
Some anomalous evidence regarding market efficiency 6 2 Jun-78 95 102 M.C. Jensen 5.5
Option pricing: A simplified approach 7 3 Sep-79 229 264 J.C. Cox, S.A. Ross, M. Rubinstein 26.6
On financial contracting: An analysis of bond covenants 7 2 Jun-79 117 162 C.W. Smith, J.B. Warner 19.7
An intertemporal asset pricing model with stochastic consumption and investment opportunities 7 3 Sep-79 265 296 D.T. Breeden 18.0
Risk measurement when shares are subject to infrequent trading 7 2 Jun-79 197 226 E. Dimson 12.6
Measuring security price performance 8 3 Sep-80 205 258 S.J. Brown, J.B. Warner 18.7
On estimating the expected return on the market: An exploratory investigation 8 4 Dec-80 323 362 R.C. Merton 16.5
Optimal capital structure under corporate and personal taxation 8 1 Mar-80 3 30 H. DeAngelo, R.W. Masulis 12.4
The relationship between return and market value of common stocks 9 1 Mar-81 3 18 R.W. Banz 21.4
The stochastic behavior of common stock variances: Value, leverage and interest rate effects 10 4 Dec-82 407 432 A.A. Christie 11.8
The market for corporate control: The scientific evidence 11 1 Mar-83 5 50 M.C. Jensen, R.S. Ruback 29.1
On corporate governance: A study of proxy contests 11 1 Mar-83 401 438 P. Dodd, J.B. Warner 10.3
Size-related anomalies and stock return seasonality: Further empirical evidence 12 1 Jun-83 13 32 D.B. Keim 12.8
Corporate financing and investment decisions when firms have information that investors do not have 13 2 Jun-84 187 222 S.C. Myers, S. Majluf 69.9
Using daily stock returns: The case of event studies 14 1 Mar-85 3 32 S.J. Brown, J.B. Warner 36.3
Bid, ask and transaction prices in a specialist market with heterogeneously informed traders 14 1 Mar-85 71 100 L.R. Glosten, P.R. Milgrom 31.6
Why new issues are underpriced 15 1 Jan-86 187 212 K. Rock 16.6
Investment banking, reputation, and the underpricing of initial public offerings 15 1 Jan-86 213 232 R.P. Beatty, J.R. Ritter 14.1
Equity issues and offering dilution 15 1 Jan-86 61 90 P. Asquith, D.W. Mullins 12.8
Valuation effects of security offerings and the issuance process 15 1 Jan-86 31 60 W.H. Mikkelson, M.M. Partch 11.0
Investment banking and the capital acquisition process 15 1 Jan-86 3 30 C.W. Smith 10.8
A transaction data study of weekly and intradaily patterns in stock returns 16 1 May-86 99 118 L.E. Harris 7.5
Asset pricing and the bid-ask spread 17 2 Dec-86 223 250 Y. Amihud, H. Mendelson 23.3
Stock return variances: The arrival of information and the reaction of traders 17 1 Sep-86 5 26 K.R. French, R. Roll 15.1
Predicting returns in the stock and bond markets 17 2 Dec-86 357 390 D.B. Keim, R.F. Stambaugh 14.0
Stock returns and the term structure 18 2 Jun-87 373 400 J.Y. Campbell 16.7
The choice of organizational form: The case of franchising 18 2 Jun-87 401 420 J.A. Brickley, F.H. Dark 11.2
Expected stock returns and volatility 19 1 Sep-87 3 30 K.R. French, G.W. Schwert, R.F. Stambaugh 24.6
Price, trade size, and information in securities markets 19 1 Sep-87 69 90 D. Easley, M. O'Hara 14.7
Some evidence on the uniqueness of bank loans 19 2 Dec-87 217 236 C.M. James 13.4
Management ownership and market valuation: An empirical analysis 20 1 Mar-88 293 316 R. Morck, A. Shleifer, R.W. Vishny 41.6
Outside directors and CEO turnover 20 1 Mar-88 431 460 M.S. Weisbach 27.3
Managerial control of voting rights: Financing policies and the market for corporate control 20 1 Mar-88 25 54 R.M. Stulz 18.0
Stock prices and top management changes 20 1 Mar-88 461 492 J.B. Warner, R.L. Watts, K.H. Wruck 14.7
Ownership structure and voting on antitakeover amendments 20 1 Mar-88 267 292 J.A. Brickley, R.C. Lease, C.W. Smith 11.7
Synergistic gains from corporate acquisitions and their division between the stockholders of target and acquiring firms 21 1 May-88 3 40 M. Bradley, A. Desai, E.H. Kim 13.2
Estimating the components of the bid/ask spread 21 1 May-88 123 142 L.R. Glosten, L.E. Harris 11.2
Dividend yields and expected stock returns 22 1 Oct-88 3 26 E.F. Fama, K.R. French 21.3
Mean reversion in stock prices: Evidence and implications 22 1 Oct-88 27 60 J.M. Poterba, L.H. Summers 19.3
Signaling by underpricing in the IPO market 23 2 Aug-89 303 324 F. Allen, G.R. Faulhaber 9.6
How investment bankers determine the offer price and allocation of new issues 24 2 Oct-89 343 362 L.M. Benveniste, P.A. Spindt 12.0
The effects of management buyouts on operating performance and value 24 2 Oct-89 217 254 S.N. Kaplan 11.0
Business conditions and expected returns on stocks and bonds 25 1 Nov-89 23 50 E.F. Fama, K.R. French 25.3
Management entrenchment: The case of manager-specific investments 25 1 Nov-89 123 140 A. Shleifer, R.W. Vishny 11.0
Managerial discretion and optimal financing policies 26 1 Jul-90 3 27 R.M. Stulz 18.9
Outside directors, board independence, and shareholder wealth 26 2 Aug-90 175 191 S. Rosenstein, J.G. Wyatt 11.1
Additional evidence on equity ownership and corporate value 27 2 Oct-90 595 612 J.J. McConnell, H. Servaes 25.8
The structure and governance of venture-capital organizations 27 2 Oct-90 473 521 W.A. Sahlman 16.7
Bankruptcy, boards, banks, and blockholders: Evidence on changes in corporate ownership and control when firms default 27 2 Oct-90 355 387 S.C. Gilson 10.6
Troubled debt restructurings: An empirical study of private reorganization of firms in default 27 2 Oct-90 315 353 S.C. Gilson, K. John, L.H.P. Lang 10.3
The role of banks in reducing the costs of financial distress in Japan 27 1 Sep-90 67 88 T. Hoshi, A. Kashyap, D. Scharfstein 10.0
A comparative analysis of IPO proceeds under alternative regulatory environments 28 1 Nov-90 173 207 L.M. Benveniste, W.J. Wilhelm 3.3
The consumption of stockholders and nonstockholders 29 1 Mar-91 97 112 N.G. Mankiw, S.P. Zeldes 9.0
Event study methodology under conditions of event-induced variance 30 2 Dec-91 253 272 E. Boehmer, J. Musumeci, A.B. Poulsen 8.5
No news is good news: An asymmetric model of changing volatility in stock returns 31 3 Jun-92 281 318 J.Y. Campbell, L. Hentschel 12.7
The investment opportunity set and corporate financing, dividend, and compensation policies 32 3 Dec-92 263 292 C.W. Smith, R.L. Watts 30.0
Do outside directors monitor managers?  Evidence from tender offer bids 32 2 Oct-92 195 221 J.W. Byrd, K.A. Hickman 11.7
The impact of institutional trading on stock prices 32 1 Aug-92 23 43 J. Lakonishok, A. Shleifer, R.W. Vishny 10.2
Common risk factors in the returns on stocks and bonds 33 1 Feb-93 3 56 E.F. Fama, K.R. French 116.8
Stealth trading and volatility: Which trades move prices? 34 3 Dec-93 281 305 M.J. Barclay, J.B. Warner 9.4
Outside directors and the adoption of poison pills 35 3 Jun-94 371 390 J.A. Brickley, J.L. Coles, R.L. Terry 10.5
Appointments of outsiders to Japanese boards: Determinants and implications for managers 36 2 Oct-94 225 258 S.N. Kaplan, B.A. Minton 7.7
Diversification's effect on firm value 37 1 Jan-95 39 65 P.G. Berger, E. Ofek 25.1
Corporate focus and stock returns 37 1 Jan-95 67 87 R. Comment, G.A. Jarrell 11.6
Executive compensation structure, ownership and firm performance 38 2 Jun-95 163 184 H. Mehran 13.0
Market underreaction to open market repurchases 39 2 Oct-95 181 208 D. Ikenberry, J. Lakonishok, T. Vermaelen 15.6
Do corporations award CEO stock options effectively? 39 2 Oct-95 237 269 D. Yermack 11.5
Poison or placebo?  Evidence on the deterrence and wealth effects of modern antitakeover measures 39 1 Sep-95 3 43 R. Comment, G.W. Schwert 10.0
Higher market valuation of companies with a small board of directors 40 2 Feb-96 185 211 D. Yermack 36.7
Detecting abnormal operating performance: The empirical power and specification of test statistics 41 3 Jul-96 359 399 B.M. Barber, J.D. Lyon 18.2
Dealer versus auction markets: A paired comparison of execution costs on NASDAQ and the NYSE 41 3 Jul-96 313 357 R.D. Huang, H.R. Stoll 13.3
Market microstructure and asset pricing: On the compensation for illiquidity in stock returns 41 3 Jul-96 441 464 M.J. Brennan, A. Subrahmanyam 12.2
The impact of industry shocks on takeover and restructuring activity 41 2 Jun-96 193 229 M.L. Mitchell, J.H. Mulherin 11.3
Modeling the conditional distribution of interest rates as a regime-switching process 42 1 Sep-96 27 62 S.F. Gray 17.1
Industry costs of equity 43 2 Feb-97 153 193 E.F. Fama, K.R. French 45.8
Detecting long-run abnormal stock returns: The empirical power and specification of test statistics 43 3 Mar-97 341 372 B.M. Barber, J.D. Lyon 25.2
Emerging equity market volatility 43 1 Jan-97 29 77 G. Bekaert, C.R. Harvey 12.5
Measuring long-horizon security price performance 43 3 Mar-97 301 339 S.P. Kothari, J.B. Warner 10.8
Ownership and operating performance of companies that go public 44 3 Jun-97 281 307 W.H. Mikkelson, M.M. Partch, K. Shah 7.4
Ownership structure and top executive turnover 45 2 Aug-97 193 221 D.J. Denis, D.K. Denis, A. Sarin 6.7
Why is there a home bias? An analysis of foreign portfolio equity ownership in Japan 46 1 Oct-97 3 28 J.K. Kang, R Stulz 13.4
Venture capital and the structure of capital markets: Banks versus stock markets 47 3 Mar-98 243 277 B.S. Black, R.J. Gilson 12.8
Larger board size and decreasing firm value in small firms 48 1 Apr-98 35 54 T. Eisenberg, S. Sundgren, M.T. Wells 11.3
Market efficiency, long-term returns, and behavioral finance 49 3 Sep-98 283 306 E.F. Fama 38.1
A model of investor sentiment 49 3 Sep-98 307 343 N. Barberis, A. Shleifer, R.  Vishny 31.1
Alternative factor specifications, security characteristics, and the cross-section of expected stock returns 49 3 Sep-98 345 373 M.J. Brennan, T. Chordia, A.  Subrahmanyam 11.8
Earnings management and the underperformance of seasoned equity offerings 50 1 Oct-98 63 99 S.W. Teoh, I. Welch, T.J. Wong 17.2
Corporate governance, chief executive officer compensation, and firm performance 51 3 Mar-99 371 406 J.E. Core, R.W. Holthausen, D.F. Larcker 29.4
Testing static tradeoff against pecking order models of capital structure 51 2 Feb-99 219 244 L. Shyam-Sunder, S.C. Myers 13.3
The determinants and implications of corporate cash holdings 52 1 Apr-99 3 46 T. Opler, L. Pinkowitz, R. Stulz, R. Williamson 16.8
Understanding the determinants of managerial ownership and the link between ownership and performance 53 3 Sep-99 353 384 C.P. Himmelberg, R.G. Hubbard, D. Palia 25.6
The sensitivity of CEO wealth to equity risk: an analysis of the magnitude and determinants 53 1 Jul-99 43 71 W.R. Guay 10.9
Predictive regressions 54 3 Dec-99 375 421 R.F. Stambaugh 17.9
Do foreign investors destabilize stock markets? The Korean experience in 1997 54 2 Nov-99 227 264 H. Choe, B.C. Kho, R. Stulz 10.1
The investment behavior and performance of various investor types: A study of Finland's unique data set 55 1 Jan-00 43 67 M.S. Grinblatt, M. Keloharju 15.5
Uniformly least powerful tests of market efficiency 55 3 Mar-00 361 389 T. Loughran, J.R. Ritter 11.6
Commonality in liquidity 56 1 Apr-00 3 28 T. Chordia, R. Roll, A. Subrahmanyam 12.5
Corporate governance proposals and shareholder activism: The role of institutional investors 57 2 Aug-00 275 305 S.L. Gillan, L.T. Starks 12.9
The separation of ownership and control in East Asian Corporations. 58 1 Oct-00 81 112 S. Claessens, S. Djankov, L.H.P. Lang 45.3
Investor protection and corporate governance 58 1 Oct-00 3 27 R. LaPorta, F. Lopez-de-Silanes, A. Shleifer, R. Vishny 43.2
Finance and the sources of growth 58 1 Oct-00 261 300 T. Beck, R. Levine, N. Loayza 24.9
The information content of stock markets: Why do emerging markets have synchronous stock price movements? 58 1 Oct-00 215 260 R. Morck, B. Yeung, W. Yu 21.0
Corporate governance in the Asian financial crisis 58 1 Oct-00 141 186 S. Johnson, P. Boone, A. Breach, E. Friedman 16.7
Financial markets and the allocation of capital 58 1 Oct-00 187 214 J. Wurgler 16.0
Common factors in prices, order flows, and liquidity 59 3 Mar-01 383 411 J. Hasbrouck, D.J. Seppi 10.2
The portfolio flows of international investors 59 2 Feb-01 151 193 K.A. Froot, P.G.J. O'Connell, M.S. Seasholes 10.2
The theory and practice of corporate finance: Evidence from the field 60 2 May-01 187 243 J.R. Graham, C.R. Harvey 38.0
Disappearing dividends: Changing firm characteristics or lower propensity to pay? 60 1 Apr-01 3 43 E.F. Fama, K.R. French 22.5
The distribution of stock return volatility 61 1 Jul-01 43 76 T.G. Andersen, T. Bollerslev, F.X. Diebold, H. Evans 24.4
Does Delaware law improve firm value? 62 3 Dec-01 525 558 R.M. Daines 9.7
The jump-risk premia implicit in options: evidence from an integrated time-series study 63 1 Jan-02 3 50 J. Pan 24.3
Asymmetric correlations of equity portfolios 63 3 Mar-02 443 494 A. Ang, J. Chen 15.8
Expectation puzzles, time-varying risk premia, and affine models of the term structure 63 3 Mar-02 415 441 Q. Dai, K.J. Singleton 10.4
A cross-firm analysis of the impact of corporate governance on the East Asian financial crisis 64 2 May-02 215 241 T. Mitton 11.8
Industry growth and capital allocation:: Does having a market- or bank-based system matter? 64 2 May-02 147 180 T. Beck, R. Levine 10.2
The ultimate ownership of Western European corporations 65 3 Sep-02 365 395 M. Faccio, L.H.P. Lang 34.5
Order imbalance, liquidity, and market returns 65 1 Jul-02 111 130 T. Chordia, R. Roll, A. Subrahmanyam 10.3
The market for borrowing stock 66 2 Nov-02 271 306 G. D'Avolio 13.2
Investor protection and equity markets 66 1 Oct-02 3 27 A. Shleifer, D. Wolfenzon 12.5
Protection of minority shareholder interests, cross-listings in the United States, and subsequent equity offerings 66 1 Oct-02 65 104 W.A. Reese, M.S. Weisbach 12.3
Breadth of ownership and stock returns 66 2 Nov-02 171 205 J. Chen, H.  Hong, J.C. Stein 11.6
Testing the pecking order theory of capital structure 67 2 Feb-03 217 248 M.Z. Frank, V.K. Goyal 13.7
Cronyism and capital controls: evidence from Malaysia 67 2 Feb-03 351 382 S. Johnson, T. Mitton 13.3
The value of corporate voting rights and control: A cross-country analysis 68 3 Jun-03 325 351 T. Nenova 16.3
Founding family ownership and the agency cost of debt 68 2 May-03 263 285 R.C. Anderson, S.A. Mansi, D.M. Reeb 15.7
Style investing 68 2 May-03 161 199 N. Barberis, A. Shleifer 11.1
Corporate governance and firm profitability: Evidence from Korea before the economic crisis  68 2 May-03 287 322 S.W. Joh 11.0
Earnings management and investor protection: An international comparison 69 3 Sep-03 505 527 C. Leuz, D. Nanda, P.D. Wysocki 39.8
The great reversals: The politics of financial development in the 20th Century 69 1 Jul-03 5 50 R.G. Rajan, L. Zingales 35.2
Stock market driven acquisitions 70 3 Dec-03 295 311 A. Shleifer, R.W. Vishny 20.5
Culture, openness, and finance 70 3 Dec-03 313 349 R.M. Stulz, R. Williamson 15.1
China share issue privatization: The extent of its success 70 2 Nov-03 183 222 Q. Sun, W.H.S. Tong 11.9
Law, endowments, and finance 70 2 Nov-03 137 181 T. Beck, A. Demirguc-Kunt, R. Levine 11.3
Why are foreign firms listed in the U.S. worth more? 71 2 Feb-04 205 238 C. Doidge, G.A. Karolyi, R.M. Stulz 25.5
The effects of government ownership on bank lending   72 2 May-04 357 384 P. Sapienza 10.5
U.S. cross-listings and the private benefits of control: evidence from dual-class firms   72 3 Jun-04 519 553 C. Doidge 10.1
Firm size and the gains from acquisitions 73 2 Aug-04 201 228 S.B. Moeller, F.P. Schlingemann, R.M. Stulz 21.6
Cross-country determinants of mergers and acquisitions 74 2 Nov-04 277 304 S. Rossi, P. Volpin 11.8
An econometric model of serial correlation and illiquidity in hedge fund returns 74 3 Dec-04 529 609 M. Getmansky, A.W. Lo, I. Makarov 11.8
Predicting returns with financial ratios 74 2 Nov-04 209 235 J. Lewellen 11.2
Managerial succession and firm performance 74 2 Nov-04 237 275 M.R. Huson, P.H. Malatesta, R. Parrino 10.8
Information content of equity analyst reports 75 2 Feb-05 245 282 P. Asquith, M.B. Mikhail, A.S. Au 17.4
The risk and return of venture capital 75 1 Jan-05 3 52 J.H. Cochrane 11.1
Can foreign firms bond themselves effectively by renting U.S. securities laws? 75 2 Feb-05 319 359 J. Siegel 10.9
Comovement 75 2 Feb-05 283 317 N. Barberis, A. Shleifer, J. Wurgler 10.6
Does function follow organizational form? Evidence from the lending practices of large and small banks 76 2 May-05 237 269 A.N. Berger, N.H. Miller, M.A. Petersen, R.G. Rajan, J.C. Stein 20.6
There is a risk-return tradeoff after all 76 3 Jun-05 509 548 E. Ghysels, P. Santa-Clara, R. Valkanov 12.0
Financing decisions: who issues stock? 76 3 Jun-05 549 582 E.F. Fama, K.R. French 10.2
Law, finance and economic growth in China 77 1 Jul-05 57 116 F. Allen, J. Qian, M. Qian 25.6
Asset pricing with liquidity risk 77 2 Aug-05 375 410 V.V. Acharya, L.H. Pedersen 24.3
Does financial liberalization spur growth? 77 1 Jul-05 3 55 G. Bekaert, C.R. Harvey, C. Lundblad 21.9
Payout policy in the 21st century 77 3 Sep-05 483 527 A Brav, J. Graham, R. Michaely, C.R. Harvey 21.9
Valuation waves and merger activity: The empirical evidence 77 3 Sep-05 561 603 M. Rhodes-Kropf, D.T. Robinson, S. Viswanathan 13.3
What drives merger waves? 77 3 Sep-05 529 560 J. Harford 12.2
The costs of entrenched boards 78 2 Nov-05 409 433 L.A. Bebchuk, A. Cohen 14.8
Managerial incentives and risk-taking 79 2 Feb-06 431 468 J.L. Coles, N.D. Daniel, L. Naveen 18.9
The impact of performance-based compensation on misreporting 79 1 Jan-06 35 67 N. Burns, S. Kedia 18.0
Partial adjustment toward target capital structures 79 3 Mar-06 469 506 M.J. Flannery, K.P. Rangan 16.3
Separating microstructure noise from volatility 79 3 Mar-06 655 692 F.M. Bandi, J.R. Russell 14.3
R2 around the world: New theory and new tests 79 2 Feb-06 257 292 L. Jin, S.C. Myers 12.5
How do family ownership, control, and management affect firm value? 80 2 May-06 385 417 B. Villalonga, R. Amit 43.0
CEO incentives and earnings management 80 3 Jun-06 511 529 D. Bergstresser, T. Philippon 19.8
Momentum and post-earnings-announcement drift anomalies: the role of liquidity risk 80 2 May-06 309 349 R. Sadka 11.9
Implementing the econometric methods in "efficient tests of stock return predictability" 81 1 Jul-06 27 60 J.Y. Campbell, M. Yogo 15.0
Entry regulation as a barrier to entrepreneurship 82 3 Dec-06 591 629 L. Klapper, L. Laeven, R. Rajan 12.3
The conditional CAPM does not explain asset-pricing anomalies 82 2 Nov-06 289 314 J. Lewellen, S. Nagel 11.0
Corporate governance and the value of cash holdings 83 3 Mar-07 599 634 A. Dittmar, J. Mahrt-Smith 19.3
Multi-period corporate default prediction with stochastic covariates 83 3 Mar-07 635 665 D. Duffie, L. Saita, K. Wang 14.6
Does backdating explain the stock price pattern around executive stock option grants? 83 2 Feb-07 271 295 R.A. Heron, E. Lie 10.9
Private credit in 129 countries 84 2 May-07 299 329 S. Djankov, C. McLiesh, A. Shleifer 29.3
Politically connected CEOs, corporate governance, and Post-IPO performance of China’s newly partially privatized firms 84 2 May-07 330 357 J.P.H. Fan, T.J. Wong, T. Zhang 17.6
The determinants of corporate board size and composition: An empirical analysis 85 1 Jul-07 66 101 A.L. Boone, L.C. Field, J.M. Karpoff, C.G. Raheja 19.9
Why do corporate managers misstate financial statements? The role of option compensation and other factors 85 3 Sep-07 667 708 J. Efendi, A. Srivastava, E.P. Swanson 13.7
Is there a diversification discount in financial conglomerates? 85 2 Aug-07 331 367 L. Laeven, R. Levine 11.1
Why do countries matter so much for corporate governance? 86 1 Oct-07 1 39 C. Doidge, G.A. Karolyi, R.M. Stulz 17.6
Monitoring: Which institutions matter? 86 2 Nov-07 279 305 X. Chen, J. Harford, K. Li 13.3
Asset fire sales (and purchases) in equity markets 86 2 Nov-07 479 512 J.D. Coval, E.  Stafford 11.4
Boards: does one size fit all? 87 2 Feb-08 329 356 J.L. Coles, N.D. Daniel, L. Naveen 28.7
The determinants of board structure 87 2 Feb-08 308 328 J.S. Linck, J.M. Netter, T. Yang 25.5
Corporate governance and firm cash holdings in the U.S. 87 3 Mar-08 535 555 J. Harford, S.A. Mansi, W.F. Maxwell 11.8
The Colors of Investors’ Money: Which Firms Attract Institutional Investors From Around the World? 88 3 Jun-08 499 533 M.A. Ferreira, P. Matos 13.0
Dumb money: mutual fund flows and the cross-section of stock returns 88 2 May-08 299 322 A. Frazzini, O.A. Lamont 11.2
Who makes acquisitions? CEO overconfidence and the market's reaction 89 1 Jul-08 20 43 U. Malmendier, G. Tate 20.8
Venture capital reputation and investment performance 90 2 Nov-08 127 151 R. Nahata 6.3
High idiosyncratic volatility and low returns: international and further U.S. evidence 91 1 Jan-09 1 23 A. Ang, R.J. Hodrick, Y. Xing, X. Zhang 15.0
Idiosyncratic risk and the cross-section of expected stock returns 91 1 Jan-09 24 37 F. Fu 12.8
Has New York become less competitive in global markets? Evaluating foreign listing choices over time 91 3 Mar-09 253 277 C. Doidge, G.A. Karolyi, R.M. Stulz 11.6
Do liquidity measures measure liquidity? 92 2 May-09 152 181 R.Y. Goyenko, C.W. Holden, C.A. Trzcinka 11.0
Bank governance, regulation and risk taking 93 2 Aug-09 259 275 L. Laeven, R. Levine 21.0
The price of sin: the effects of social norms on markets 93 1 Jul-09 15 36 H. Hong, M. Kacperczyk 10.4
Cost of capital effects and changes in growth expectations around U.S. cross-listings 93 3 Sep-09 428 454 L. Hail, C. Leuz 10.0
Women in the boardroom and their impact on governance and performance 94 2 Nov-09 291 309 R.B. Adams, D.  Ferreira 14.2
Does corporate governance matter in competitive industries? 95 3 Mar-10 312 331 X. Giroud, H. Mueller 10.0
A skeptical appraisal of asset-pricing tests 96 2 May-10 175 194 J. Lewellen, S. Nagel, J. Shanken 14.3
Bank lending during the financial crisis of 2008 97 3 Sep-10 319 338 V. Ivashina, D.  Scharfstein 20.3
The real effects of financial constraints: evidence from a financial crisis 97 3 Sep-10 470 487 M. Campello, J.R. Graham, C.R. Harvey 17.8
Tunneling through inter-corporate loans: The China experience 98 1 Oct-10 1 20 G. Jiang, C.M. Lee, H. Yue 9.5
Simple formulas for standard errors that cluster by both firm and time 99 1 Jan-11 1 10 S.B. Thompson 15.3
Financial literacy and stock market participation 101 2 Aug-11 449 472 M. van Rooij, A. Lusardi, R. Alessie 13.7
Securitized banking and the run on repo 104 3 Jun-12 425 451 G. Gorton, A. Metrick 17.0
* All papers that have an average of 10 or more citations per year since publication, as well as the paper with the most average citations in each volume through 2011.