Stewart C. Myers

Massachusetts Institute of Technology (MIT)

Professor

Sloan School of Management

Cambridge, MA 02142

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

29

DOWNLOADS
Rank 2,497

SSRN RANKINGS

Top 2,497

in Total Papers Downloads

17,915

SSRN CITATIONS
Rank 306

SSRN RANKINGS

Top 306

in Total Papers Citations

611

CROSSREF CITATIONS

2,183

Scholarly Papers (29)

1.

Corporate Financing and Investment Decisions When Firms Have Informationthat Investors Do Not Have

Number of pages: 61 Posted: 21 Jun 2001 Last Revised: 27 Oct 2021
Stewart C. Myers and Nicholas S. Majluf
Massachusetts Institute of Technology (MIT) and Pontifical Catholic University of Chile
Downloads 3,537 (3,906)
Citation 21

Abstract:

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2.

R&D Accounting and the Tradeoff between Relevance and Objectivity

Number of pages: 48 Posted: 18 Feb 1999
Paul M. Healy, Stewart C. Myers and Christopher D. Howe
Harvard Business School, Massachusetts Institute of Technology (MIT) and Massachusetts Institute of Technology
Downloads 2,463 (7,155)
Citation 21

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3.
Downloads 2,021 ( 9,855)
Citation 214

R-Squared Around the World: New Theory and New Tests

Number of pages: 48 Posted: 16 Apr 2004
Stewart C. Myers and Li Jin
Massachusetts Institute of Technology (MIT) and Harvard Business School - Finance Unit
Downloads 1,907 (10,626)
Citation 9

Abstract:

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Corporate control, international financial markets, firm-specific risks, information and market efficiency, crashes

R-Squared Around the World: New Theory and New Tests

Number of pages: 51 Posted: 11 May 2004 Last Revised: 26 Jul 2010
Stewart C. Myers and Li Jin
Massachusetts Institute of Technology (MIT) and Harvard Business School - Finance Unit
Downloads 114 (306,632)
Citation 49

Abstract:

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R-Squared Around the World: New Theory and New Tests

Journal of Financial Economics (JFE), Forthcoming
Posted: 16 Dec 2005
Stewart C. Myers and Li Jin
Massachusetts Institute of Technology (MIT) and Harvard Business School - Finance Unit

Abstract:

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corporate control, international financial markets, firm-specific risks, information and market efficiency, crashes

4.

Capital Structure Puzzle

Number of pages: 35 Posted: 27 Apr 2000 Last Revised: 24 Oct 2021
Stewart C. Myers
Massachusetts Institute of Technology (MIT)
Downloads 2,008 (9,988)
Citation 200

Abstract:

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5.
Downloads 1,709 ( 12,892)
Citation 26

The Internal Governance of Firms

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 239/2009
Number of pages: 64 Posted: 28 Feb 2009 Last Revised: 30 Nov 2018
ProfessorNew York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 1,235 (20,856)
Citation 26

Abstract:

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Agency theory, short-termism, corporate governance, dividends, internal organization

The Internal Governance of Firms

NYU Working Paper No. FIN-08-033
Number of pages: 58 Posted: 09 Mar 2009 Last Revised: 09 Aug 2010
ProfessorNew York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 250 (156,023)

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The Internal Governance of Firms

Number of pages: 45 Posted: 20 Dec 2009
ProfessorNew York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 178 (214,624)

Abstract:

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governance, internal

The Internal Governance of Firms

Number of pages: 48 Posted: 08 Dec 2009 Last Revised: 17 Jul 2021
ProfessorNew York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 43 (525,925)

Abstract:

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The Internal Governance of Firms

Number of pages: 48 Posted: 07 Apr 2009
ProfessorNew York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 3 (813,623)
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Agency theory, Corporate governance, Dividends, Internal organization, Short-termism

6.
Downloads 1,204 ( 22,059)
Citation 27

A Theory of Takeovers and Disinvestment

Number of pages: 50 Posted: 09 Jan 2005
Bart M. Lambrecht and Stewart C. Myers
University of Cambridge - Judge Business School and Massachusetts Institute of Technology (MIT)
Downloads 1,116 (24,265)
Citation 1

Abstract:

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Disinvestment, takeover, real option, managerial incentives

A Theory of Takeovers and Disinvestment

Number of pages: 45 Posted: 23 Feb 2005 Last Revised: 14 Oct 2021
Stewart C. Myers and Bart M. Lambrecht
Massachusetts Institute of Technology (MIT) and University of Cambridge - Judge Business School
Downloads 88 (364,673)
Citation 3

Abstract:

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7.

Debt and Managerial Rents in a Real-Options Model of the Firm

EFA 2006 Zurich Meetings Paper
Number of pages: 47 Posted: 12 Jun 2006
Stewart C. Myers and Bart M. Lambrecht
Massachusetts Institute of Technology (MIT) and University of Cambridge - Judge Business School
Downloads 794 (39,849)
Citation 10

Abstract:

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investment policy, financing policy, debt, agency

8.
Downloads 633 ( 53,937)
Citation 11

A Lintner Model of Payout and Managerial Rents

Journal of Finance, Forthcoming, AFA 2011 Denver Meetings Paper
Number of pages: 61 Posted: 16 Mar 2010 Last Revised: 16 Jan 2012
Bart M. Lambrecht and Stewart C. Myers
University of Cambridge - Judge Business School and Massachusetts Institute of Technology (MIT)
Downloads 589 (58,424)
Citation 12

Abstract:

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payout, investment, financing policy, agency

A Litner Model of Payout and Managerial Rents

Number of pages: 62 Posted: 26 Jul 2010 Last Revised: 18 Apr 2021
Bart M. Lambrecht and Stewart C. Myers
University of Cambridge - Judge Business School and Massachusetts Institute of Technology (MIT)
Downloads 44 (521,121)

Abstract:

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9.

Venture Capital: An Experiment in Computational Corporate Finance

Number of pages: 42 Posted: 02 Jan 2005
Zsuzsanna Fluck, Kedran Rae Garrison and Stewart C. Myers
Michigan State University - Department of Finance, Massachusetts Institute of Technology (MIT) - Economics, Finance, Accounting (EFA) and Massachusetts Institute of Technology (MIT)
Downloads 548 (64,671)
Citation 3

Abstract:

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10.

A Theory of Risk Capital

Dice Center Working Paper No. 2009-10, Fisher College of Business Working Paper No. 2009-03-010
Number of pages: 54 Posted: 29 May 2009 Last Revised: 05 May 2014
Isil Erel, Stewart C. Myers and James Read
Ohio State University (OSU) - Department of Finance, Massachusetts Institute of Technology (MIT) and The Brattle Group
Downloads 536 (66,467)
Citation 1

Abstract:

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Capital, Capital requirements, Financial Institutions, Regulation

11.
Downloads 503 ( 71,994)
Citation 9

The Dynamics of Investment, Payout and Debt

Number of pages: 58 Posted: 21 Oct 2014 Last Revised: 29 Jan 2017
Bart M. Lambrecht and Stewart C. Myers
University of Cambridge - Judge Business School and Massachusetts Institute of Technology (MIT)
Downloads 502 (71,427)
Citation 11

Abstract:

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payout, investment, financing policy, agency

The Dynamics of Investment, Payout and Debt

Number of pages: 56 Posted: 02 Jun 2014
Bart M. Lambrecht and Stewart C. Myers
University of Cambridge - Judge Business School and Massachusetts Institute of Technology (MIT)
Downloads 1 (837,651)
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agency, financing policy, investment, payout

Testing Static Trade-Off Against Pecking Order Models of Capital Structure

Number of pages: 35 Posted: 29 Jun 2000 Last Revised: 28 Nov 2021
Lakshmi Shyam-Sunder and Stewart C. Myers
World Bank, International Finance Corp. and Massachusetts Institute of Technology (MIT)
Downloads 453 (80,954)
Citation 49

Abstract:

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13.
Downloads 413 ( 91,006)
Citation 2

Real Options, Taxes and Financial Leverage

Number of pages: 43 Posted: 08 Jun 2012 Last Revised: 13 Jun 2012
Stewart C. Myers and James Read
Massachusetts Institute of Technology (MIT) and The Brattle Group
Downloads 256 (152,345)

Abstract:

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real options, financing policy

Real Options, Taxes and Financial Leverage

Number of pages: 44 Posted: 16 Jun 2012 Last Revised: 04 Aug 2021
Stewart C. Myers and James Read
Massachusetts Institute of Technology (MIT) and The Brattle Group
Downloads 79 (389,601)

Abstract:

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Real Options, Taxes and Financial Leverage

Number of pages: 46 Posted: 20 Apr 2018
Stewart C. Myers and James Read
Massachusetts Institute of Technology (MIT) and The Brattle Group
Downloads 78 (392,532)
Citation 1

Abstract:

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real options, financing policy

14.

The Paradox of Liquidity

Number of pages: 45 Posted: 13 Jun 2000 Last Revised: 23 Jul 2021
Stewart C. Myers and Raghuram G. Rajan
Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 211 (184,112)
Citation 3

Abstract:

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15.

Signaling and Accounting Information

Number of pages: 38 Posted: 25 May 2006 Last Revised: 24 Sep 2021
Stewart C. Myers
Massachusetts Institute of Technology (MIT)
Downloads 184 (208,484)

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16.

Outside Equity Financing

Number of pages: 52 Posted: 19 Jul 2000 Last Revised: 18 May 2001
Stewart C. Myers
Massachusetts Institute of Technology (MIT)
Downloads 150 (247,851)
Citation 15

Abstract:

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17.

Discounting Rules for Risky Assets

Number of pages: 24 Posted: 27 Apr 2000 Last Revised: 26 Jul 2021
Stewart C. Myers and Richard S. Ruback
Massachusetts Institute of Technology (MIT) and Harvard Business School
Downloads 129 (278,861)

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18.

Venture Capital Contracting and Syndication: An Experiment in Computational Corporate Finance

Number of pages: 57 Posted: 20 Nov 2005 Last Revised: 07 Oct 2021
Zsuzsanna Fluck, Kedran Rae Garrison and Stewart C. Myers
Michigan State University - Department of Finance, Massachusetts Institute of Technology (MIT) - Economics, Finance, Accounting (EFA) and Massachusetts Institute of Technology (MIT)
Downloads 97 (340,043)

Abstract:

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19.

Stock Issues and Investment Policy When Firms Have Information that Investors Do Not Have

Number of pages: 46 Posted: 13 Nov 2007 Last Revised: 03 Jun 2021
Stewart C. Myers and Nicholas J Majluf
Massachusetts Institute of Technology (MIT) and affiliation not provided to SSRN
Downloads 87 (364,073)

Abstract:

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20.

Valuing the Government&Apos;S Tax Claim on Risky Corporate Assets

Number of pages: 53 Posted: 26 Dec 2000 Last Revised: 07 Oct 2021
Saman Majd and Stewart C. Myers
University of Pennsylvania Wharton School and Massachusetts Institute of Technology (MIT)
Downloads 63 (435,945)

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21.

Financial Puzzles

Journal of Applied Finance, Vol. 16, No. 1, Spring/Summer 2006
Number of pages: 1 Posted: 24 Aug 2006
Stewart C. Myers
Massachusetts Institute of Technology (MIT)
Downloads 62 (439,421)
Citation 1

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22.

Tax Asymmetries and Corporate Income Tax Reform

Number of pages: 54 Posted: 02 Sep 2000 Last Revised: 06 Oct 2021
Saman Majd and Stewart C. Myers
University of Pennsylvania Wharton School and Massachusetts Institute of Technology (MIT)
Downloads 62 (439,421)

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23.

Changes in the Age Distribution of Income in the United States, 1968-1984

Number of pages: 48 Posted: 25 May 2006 Last Revised: 31 Oct 2021
Massachusetts Institute of Technology (MIT), Boston University - Department of Economics and Wisconsin School of Business
Downloads 28 (595,046)

Abstract:

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24.

Brealey, Myers, and Allen on Real Options

Journal of Applied Corporate Finance, Vol. 20, Issue 4, pp. 58-71, Fall 2008
Number of pages: 16 Posted: 18 Dec 2008
Richard A. Brealey, Stewart C. Myers and Franklin Allen
London Business School, Massachusetts Institute of Technology (MIT) and Imperial College London
Downloads 15 (685,747)
Citation 1
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25.

Brealey, Myers, and Allen on Capital Budgeting, Capital Structure, and Agency Issues

Journal of Applied Corporate Finance, Vol. 20, Issue 4, pp. 49-57, Fall 2008
Number of pages: 11 Posted: 18 Dec 2008
Richard A. Brealey, Stewart C. Myers and Franklin Allen
London Business School, Massachusetts Institute of Technology (MIT) and Imperial College London
Downloads 5 (764,348)
Citation 1
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26.

Agency Dynamics in Corporate Finance

Annual Review of Financial Economics, Vol. 8, pp. 53-80, 2016
Posted: 18 Nov 2016
Bart M. Lambrecht and Stewart C. Myers
University of Cambridge - Judge Business School and Massachusetts Institute of Technology (MIT)

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27.

Finance, Theoretical and Applied

Annual Review of Financial Economics, Vol. 7, pp. 1-34, 2015
Posted: 11 Dec 2015
Stewart C. Myers
Massachusetts Institute of Technology (MIT)

Abstract:

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28.

Corporate Financing and Investment Decisions When Firms Have Information that Investors Do Not Have

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 17 Nov 2009
Stewart C. Myers and Nicholas S. Majluf
Massachusetts Institute of Technology (MIT) and Pontifical Catholic University of Chile

Abstract:

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Debt financing, Stock offerings, Asset management, Investment policies, Information asymmetry, Financial management, Management decisions

29.

Policy Statement on Social Security

Posted: 08 Jan 1999
Stewart C. Myers
Massachusetts Institute of Technology (MIT)

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