Jeffrey Wurgler

NYU Stern School of Business

Nomura Professor of Finance

Stern School of Business

44 West 4th Street, Suite 9-190

New York, NY 10012-1126

United States

http://www.stern.nyu.edu/~jwurgler/

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

33

DOWNLOADS
Rank 330

SSRN RANKINGS

Top 330

in Total Papers Downloads

68,225

SSRN CITATIONS
Rank 13

SSRN RANKINGS

Top 13

in Total Papers Citations

3,953

CROSSREF CITATIONS

10,122

Scholarly Papers (33)

1.
Downloads 8,837 ( 801)
Citation 63

Behavioral Corporate Finance: A Survey

Number of pages: 64 Posted: 20 Oct 2004 Last Revised: 12 Aug 2008
Malcolm P. Baker, Richard S. Ruback and Jeffrey Wurgler
Harvard Business School, Harvard Business School and NYU Stern School of Business
Downloads 7,569 (1,037)
Citation 11

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capital structure, IPO, SEO, dividend, investment, psychology, bias, optimism, overconfidence, heuristic

Behavioral Corporate Finance: A Survey

NYU Working Paper No. FIN-04-024
Number of pages: 62 Posted: 03 Nov 2008
Malcolm P. Baker, Richard S. Ruback and Jeffrey Wurgler
Harvard Business School, Harvard Business School and NYU Stern School of Business
Downloads 990 (28,899)
Citation 2

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Behavioral Corporate Finance: A Survey

Number of pages: 63 Posted: 28 Oct 2004 Last Revised: 08 Sep 2021
Malcolm P. Baker, Richard S. Ruback and Jeffrey Wurgler
Harvard Business School, Harvard Business School and NYU Stern School of Business
Downloads 278 (140,159)
Citation 12

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2.
Downloads 6,431 ( 1,395)
Citation 726

Market Timing and Capital Structure

Number of pages: 48 Posted: 30 Apr 2001 Last Revised: 13 Jan 2009
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 5,707 (1,681)
Citation 33

Abstract:

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Capital Structure, Market Timing

Market Timing and Capital Structure

NYU Working Paper No. 2451/31357, NYU Working Paper No. FIN-11-024
Number of pages: 32 Posted: 14 Dec 2011
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 724 (44,556)
Citation 110

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Market Timing and Capital Structure

Journal of Finance, Vol. 57, No. 1, pp. 1-32, February 2002
Posted: 20 Aug 2001 Last Revised: 13 Jan 2009
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business

Abstract:

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capital structure, market timing, ipo, seo

3.
Downloads 6,011 ( 1,563)
Citation 370

Financial Markets and the Allocation of Capital

Number of pages: 40 Posted: 19 Aug 1999
Jeffrey Wurgler
NYU Stern School of Business
Downloads 5,572 (1,740)
Citation 39

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Financial Markets and the Allocation of Capital

NYU Working Paper No. 2451/31356, NYU Working Paper No. FIN-11-023
Number of pages: 28 Posted: 14 Dec 2011
Jeffrey Wurgler
NYU Stern School of Business
Downloads 439 (84,163)
Citation 55

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Financial Markets and the Allocation of Capital

Journal of Financial Economics, Vol. 58, Issue 1-2, October 2000
Posted: 08 Feb 2000
Jeffrey Wurgler
NYU Stern School of Business

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Benchmarks as Limits to Arbitrage: Understanding the Low Volatility Anomaly

NYU Working Paper No. 2451/29593
Number of pages: 26 Posted: 06 Apr 2010 Last Revised: 10 Sep 2013
Malcolm P. Baker, Brendan Bradley and Jeffrey Wurgler
Harvard Business School, Acadian Asset Management Inc., USA and NYU Stern School of Business
Downloads 4,535 (2,516)
Citation 42

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A Behavioral Finance Explanation for the Success of Low Volatility Portfolios

NYU Working Paper No. 2451/29537
Number of pages: 22 Posted: 26 Jun 2013
Malcolm P. Baker, Jeffrey Wurgler and Brendan Bradley
Harvard Business School, NYU Stern School of Business and Acadian Asset Management Inc., USA
Downloads 409 (91,405)

Abstract:

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Benchmarks as Limits to Arbitrage: Understanding the Low-Volatility Anomaly

Financial Analysts Journal, Vol. 67, No. 1, 2011
Posted: 23 Jan 2011
Malcolm P. Baker, Brendan Bradley and Jeffrey Wurgler
Harvard Business School, Acadian Asset Management Inc., USA and NYU Stern School of Business

Abstract:

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Behavioral Finance, Behavioral Biases, Limits to Arbitrage, Equity Investments, Portfolio Management: Risk Management

5.
Downloads 3,460 ( 4,078)
Citation 853

Investor Sentiment and the Cross-Section of Stock Returns

Number of pages: 52 Posted: 18 Nov 2003 Last Revised: 13 Jan 2009
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 2,848 (5,545)
Citation 42

Abstract:

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sentiment, cross-section, arbitrage, asset pricing

Investor Sentiment and the Cross-Section of Stock Returns

NYU Working Paper No. S-MF-03-20
Number of pages: 46 Posted: 12 Nov 2008
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 220 (176,930)

Abstract:

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Investor Sentiment and the Cross-Section of Stock Returns

Number of pages: 49 Posted: 10 May 2004 Last Revised: 22 Jul 2021
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 154 (243,263)
Citation 152

Abstract:

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Investor Sentiment and the Cross-Section of Stock Returns

NYU Working Paper No. SC-AM-03-13
Number of pages: 47 Posted: 04 Nov 2008
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 129 (280,280)
Citation 1

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Investor Sentiment and the Cross-Section of Stock Returns

NYU Working Paper No. FIN-03-030
Number of pages: 47 Posted: 11 Nov 2008
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 109 (316,970)
Citation 43

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Investor Sentiment and the Cross-Section of Stock Returns

Journal of Finance, Vol. 61, No. 4, pp. 1645-1680, August 2006
Posted: 20 Apr 2005 Last Revised: 13 Jan 2009
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business

Abstract:

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sentiment, asset pricing, arbitrage, cross-section

6.
Downloads 3,335 ( 4,334)
Citation 509

Investor Sentiment in the Stock Market

Number of pages: 37 Posted: 14 Feb 2007 Last Revised: 12 Jan 2009
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 2,305 (7,824)
Citation 36

Abstract:

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stock market, sentiment, asset pricing, behavioral finance, behavioral economics

Investor Sentiment in the Stock Market

NYU Working Paper No. 2451/31359, NYU Working Paper No. FIN-11-026
Number of pages: 23 Posted: 15 Dec 2011
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 738 (43,468)
Citation 6

Abstract:

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Investor Sentiment in the Stock Market

Number of pages: 38 Posted: 03 Jul 2007 Last Revised: 17 Jul 2021
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 292 (133,146)
Citation 187

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Investor Sentiment in the Stock Market

Journal of Economic Perspectives, Vol. 21, No. 2, pp. 129-151, Spring 2007
Posted: 30 Apr 2007 Last Revised: 12 Jan 2009
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business

Abstract:

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sentiment, stocks returns, sentiment index, bubble, crash

7.
Downloads 3,128 ( 4,836)
Citation 3

A Reference Point Theory of Mergers and Acquisitions

AFA 2010 Atlanta Meetings Paper
Number of pages: 47 Posted: 23 Mar 2009 Last Revised: 23 Nov 2009
Malcolm P. Baker, Xin Pan and Jeffrey Wurgler
Harvard Business School, Harvard University and NYU Stern School of Business
Downloads 2,602 (6,430)
Citation 3

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mergers, acquisitions, behavioral finance, behavioral corporate finance, psychology, reference point

A Reference Point Theory of Mergers and Acquisitions

NYU Working Paper No. 2451/28342
Number of pages: 47 Posted: 08 Dec 2009
Malcolm P. Baker, Xin Pan and Jeffrey Wurgler
Harvard Business School, Harvard University and NYU Stern School of Business
Downloads 467 (78,119)

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A Reference Point Theory of Mergers and Acquisitions

Number of pages: 48 Posted: 08 Dec 2009 Last Revised: 30 Jun 2021
Malcolm P. Baker, Xin Pan and Jeffrey Wurgler
Harvard Business School, Harvard University and NYU Stern School of Business
Downloads 59 (457,219)

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Can Mutual Fund Managers Pick Stocks? Evidence from Their Trades Prior to Earnings Announcements

Number of pages: 29 Posted: 03 Mar 2005 Last Revised: 13 Dec 2011
Harvard Business School, University of Oklahoma - Michael F. Price College of Business, University of Pennsylvania - Finance Department and NYU Stern School of Business
Downloads 1,787 (11,821)
Citation 4

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Mutual fund, performance evaluation

Can Mutual Fund Managers Pick Stocks? Evidence from Their Trades Prior to Earnings Announcements

NYU Working Paper No. SC-AM-05-02
Number of pages: 31 Posted: 04 Nov 2008
Harvard Business School, University of Oklahoma - Michael F. Price College of Business, University of Pennsylvania - Finance Department and NYU Stern School of Business
Downloads 393 (95,666)
Citation 14

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Can Mutual Fund Managers Pick Stocks? Evidence from the Trades Prior to Earnings Announcements

Number of pages: 31 Posted: 08 Sep 2004 Last Revised: 14 Mar 2021
Harvard Business School, University of Oklahoma - Michael F. Price College of Business, University of Pennsylvania - Finance Department and NYU Stern School of Business
Downloads 380 (99,492)
Citation 11

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Can Mutual Fund Managers Pick Stocks? Evidence from Their Trades Prior to Earnings Announcements

NYU Working Paper No. FIN-04-015
Number of pages: 31 Posted: 03 Nov 2008
Harvard Business School, University of Oklahoma - Michael F. Price College of Business, University of Pennsylvania - Finance Department and NYU Stern School of Business
Downloads 309 (125,307)

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9.
Downloads 2,615 ( 6,488)
Citation 63

Behavioral Corporate Finance: An Updated Survey

HANDBOOK OF THE ECONOMICS OF FINANCE, Vol. 2, George M. Constantinides, Milton Harris, and Rene M. Stulz, eds., Elsevier Press, 2012
Number of pages: 106 Posted: 15 Aug 2011
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 1,814 (11,526)
Citation 9

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Behavioral, Corporate Finance, Sentiment, Catering, Market Timing, Irrational, Bias, Overconfidence, Optimism, Signaling, Behavioral Signaling

Behavioral Corporate Finance: An Updated Survey

Handbook of the Economics, George M. Constantinides, Milton Harris, Rene M. Stulz, eds., Vol. 2, Elsevier Press, 2012, NYU Working Paper No. FIN-11-022
Number of pages: 106 Posted: 14 Dec 2011
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 519 (68,605)
Citation 27

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Behavioral Corporate Finance: An Updated Survey

NYU Working Paper No. 2451/31355
Number of pages: 106 Posted: 26 Jun 2013
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 192 (200,861)
Citation 2

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Behavioral Corporate Finance: An Updated Survey

Number of pages: 107 Posted: 29 Aug 2011 Last Revised: 12 Nov 2021
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 90 (359,905)

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10.
Downloads 2,455 ( 7,198)
Citation 90

Global, Local, and Contagious Investor Sentiment

Journal of Financial Economics (JFE), Vol. 104, pp 272-287, May 2012, AFA 2010 Atlanta Meetings Paper
Number of pages: 47 Posted: 23 Mar 2009 Last Revised: 11 Mar 2012
Malcolm P. Baker, Jeffrey Wurgler and Yu Yuan
Harvard Business School, NYU Stern School of Business and Shanghai Mingshi Investment Company
Downloads 2,014 (9,733)
Citation 5

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Sentiment, Return predictability

Global, Local, and Contagious Investor Sentiment

Journal of Financial Economics (JFE), Vol. 104, No. 2, 2012, NYU Working Paper No. FIN-09-002
Number of pages: 47 Posted: 08 Jun 2009 Last Revised: 11 Mar 2012
Malcolm P. Baker, Jeffrey Wurgler and Yu Yuan
Harvard Business School, NYU Stern School of Business and Shanghai Mingshi Investment Company
Downloads 441 (83,692)
Citation 22

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Sentiment, Return predictability

11.
Downloads 2,283 ( 8,103)
Citation 20

On the Economic Consequences of Index-Linked Investing

CHALLENGES TO BUSINESSES IN THE TWENTY-FIRST CENTURY: THE WAY FORWARD, W.T. Allen, R. Khurana, J. Lorsch, G. Rosenfeld, eds., 2010
Number of pages: 27 Posted: 30 Aug 2010
Jeffrey Wurgler
NYU Stern School of Business
Downloads 1,869 (10,982)

Abstract:

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indexing, index fund, ETF, comovement

On the Economic Consequences of Index-Linked Investing

NYU Working Paper No. 2451/31353
Number of pages: 15 Posted: 14 Dec 2011
Jeffrey Wurgler
NYU Stern School of Business
Downloads 305 (127,108)
Citation 5

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On the Economic Consequences of Index-Linked Investing

Number of pages: 28 Posted: 20 Sep 2010 Last Revised: 07 Oct 2021
Jeffrey Wurgler
NYU Stern School of Business
Downloads 109 (316,970)

Abstract:

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12.
Downloads 2,030 ( 9,059)
Citation 53

Comovement

Number of pages: 45 Posted: 06 Apr 2002
National Bureau of Economic Research (NBER)Yale School of Management, Harvard University - Department of Economics and NYU Stern School of Business
Downloads 1,609 (13,943)
Citation 14

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Comovement

NYU Working Paper No. S-DRP-03-18
Number of pages: 45 Posted: 05 Nov 2008
National Bureau of Economic Research (NBER)Yale School of Management, Harvard University - Department of Economics and NYU Stern School of Business
Downloads 252 (154,996)

Abstract:

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Comovement

NYU Working Paper No. S-DRP-01-19
Number of pages: 38 Posted: 07 Nov 2008
National Bureau of Economic Research (NBER)Yale School of Management, Harvard University - Department of Economics and NYU Stern School of Business
Downloads 107 (321,123)

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Comovement

Number of pages: 43 Posted: 11 Apr 2002 Last Revised: 23 Oct 2021
National Bureau of Economic Research (NBER)Yale School of Management, Harvard University - Department of Economics and NYU Stern School of Business
Downloads 62 (445,974)
Citation 12

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Appearing and Disappearing Dividends: The Link to Catering Incentives

Number of pages: 25 Posted: 13 Jan 2003 Last Revised: 12 Aug 2008
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 1,382 (17,657)
Citation 12

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Dividend, Dividends, Dividend Policy, Catering, Repurchase, Repurchases

Why are Dividends Disappearing? An Empirical Analysis

NYU Working Paper No. S-CG-02-09
Number of pages: 65 Posted: 04 Nov 2008
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 332 (115,982)

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Why are Dividends Disappearing? An Empirical Analysis

NYU Working Paper No. FIN-02-056
Number of pages: 64 Posted: 03 Nov 2008
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 230 (169,494)

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Appearing and Disappearing Dividends: The Link to Catering Incentives

NYU Working Paper No. FIN-03-023
Number of pages: 26 Posted: 11 Nov 2008
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 101 (333,930)
Citation 10

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Appearing and Disappearing Dividends: The Link to Catering Incentives

Number of pages: 25 Posted: 28 Sep 2003 Last Revised: 25 Apr 2021
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 49 (498,286)
Citation 1

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Appearing and Disappearing Dividends: The Link to Catering Incentives

Harvard NOM Working Paper No. 03-51
Posted: 18 Sep 2003 Last Revised: 13 Aug 2008
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business

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dividend, payout

Multinationals as Arbitrageurs: The Effect of Stock Market Valuations on Foreign Direct Investment

Number of pages: 63 Posted: 02 Nov 2005 Last Revised: 12 Aug 2008
Malcolm P. Baker, C. Fritz Foley and Jeffrey Wurgler
Harvard Business School, Harvard University - Business School (HBS) and NYU Stern School of Business
Downloads 1,270 (20,052)
Citation 21

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Corporate investment, inefficient markets, behavioral finance, foreign direct investment, international finance

Stock Market Valuations and Foreign Direct Investment

NYU Working Paper No. SC-AM-04-05
Number of pages: 42 Posted: 04 Nov 2008
Malcolm P. Baker, C. Fritz Foley and Jeffrey Wurgler
Harvard Business School, Harvard University - Business School (HBS) and NYU Stern School of Business
Downloads 236 (165,272)

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The Stock Market and Investment: Evidence from FDI Flows

NYU Working Paper No. FIN-04-013
Number of pages: 39 Posted: 03 Nov 2008
Malcolm P. Baker, C. Fritz Foley and Jeffrey Wurgler
Harvard Business School, Harvard University - Business School (HBS) and NYU Stern School of Business
Downloads 226 (172,414)

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The Stock Market and Investment: Evidence from FDI Flows

Number of pages: 39 Posted: 04 Jul 2004 Last Revised: 08 Nov 2021
Malcolm P. Baker, C. Fritz Foley and Jeffrey Wurgler
Harvard Business School, Harvard University - Business School (HBS) and NYU Stern School of Business
Downloads 64 (438,655)

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Multinationals as Arbitrageurs: The Effect of Valuations on Foreign Direct Investment

NYU Working Paper No. 2451/31358, NYU Working Paper No. FIN-11-025
Number of pages: 33 Posted: 15 Dec 2011
Malcolm P. Baker, C. Fritz Foley and Jeffrey Wurgler
Harvard Business School, Harvard University - Business School (HBS) and NYU Stern School of Business
Downloads 37 (557,563)

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Multinationals as Arbitrageurs: The Effect of Stock Market Valuations on Foreign Direct Investment

Review of Financial Studies, Forthcoming
Posted: 30 Apr 2007 Last Revised: 12 Jan 2009
Malcolm P. Baker, C. Fritz Foley and Jeffrey Wurgler
Harvard Business School, Harvard University - Business School (HBS) and NYU Stern School of Business

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foreign direct investment, fdi, multinational, flow

Multinationals as Arbitrageurs: The Effect of Stock Market Valuations on Foreign Direct Investment

The Review of Financial Studies, Vol. 22, Issue 1, pp. 337-369, 2009
Posted: 03 Jan 2009
Malcolm P. Baker, C. Fritz Foley and Jeffrey Wurgler
Harvard Business School, Harvard University - Business School (HBS) and NYU Stern School of Business

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F15, F21, F23, G31, G34

15.
Downloads 1,766 ( 12,276)
Citation 68

Does Arbitrage Flatten Demand Curves for Stocks?

Number of pages: 43 Posted: 03 Aug 2000
Jeffrey Wurgler and Ekaterina Zhuravskaya
NYU Stern School of Business and Paris School of Economics (PSE)
Downloads 1,612 (13,903)
Citation 74

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Does Arbitrage Flatten Demand Curves for Stocks?

NYU Working Paper No. 2451/31354
Number of pages: 26 Posted: 14 Dec 2011 Last Revised: 24 Nov 2014
Jeffrey Wurgler and Ekaterina Zhuravskaya
NYU Stern School of Business and Paris School of Economics (PSE)
Downloads 154 (243,263)

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Does Arbitrage Flatten Demand Curves for Stocks?

Posted: 24 Apr 2001
Jeffrey Wurgler and Ekaterina Zhuravskaya
NYU Stern School of Business and Paris School of Economics (PSE)

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Arbitrage

16.
Downloads 1,650 ( 13,648)
Citation 266

A Catering Theory of Dividends

Number of pages: 61 Posted: 15 Nov 2002 Last Revised: 12 Aug 2008
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 1,235 (20,882)
Citation 3

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A Catering Theory of Dividends

NYU Working Paper No. FIN-02-012
Number of pages: 63 Posted: 03 Nov 2008
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 223 (174,645)
Citation 4

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A Catering Theory of Dividends

Number of pages: 63 Posted: 13 Mar 2003 Last Revised: 30 Jul 2021
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 192 (200,861)
Citation 27

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A Catering Theory of Dividends

Journal of Finance, Vol. 59, No. 3, pp. 1125-1165, June 2004
Posted: 15 Jul 2003 Last Revised: 13 Aug 2008
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business

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17.
Downloads 1,617 ( 14,087)
Citation 327

The Equity Share in New Issues and Aggregate Stock Returns

Number of pages: 65 Posted: 12 Aug 1999 Last Revised: 13 Jan 2009
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 1,487 (15,830)
Citation 2

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The Equity Share in New Issues and Aggregate Stock Returns

NYU Working Paper No. 2451/31362, NYU Working Paper No. FIN-11-029
Number of pages: 40 Posted: 15 Dec 2011
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 130 (278,586)
Citation 48

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The Equity Share in New Issues and Aggregate Stock Returns

Journal of Finance, Vol. 55, No. 5, October 2000
Posted: 17 Jun 2008 Last Revised: 13 Jan 2009
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business

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When Does the Market Matter? Stock Prices and the Investment of Equity-Dependent Firms

Number of pages: 48 Posted: 04 Jan 2002 Last Revised: 13 Jan 2009
Malcolm P. Baker, Jeffrey Wurgler and Jeremy C. Stein
Harvard Business School, NYU Stern School of Business and Harvard University - Department of Economics
Downloads 1,178 (22,419)
Citation 2

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Investment, Behavioral Finance

When Does the Market Matter? Stock Prices and the Investment of Equity-Dependent Firms

NYU Working Paper No. FIN-01-031
Number of pages: 39 Posted: 03 Nov 2008
Malcolm P. Baker, Jeremy C. Stein and Jeffrey Wurgler
Harvard Business School, Harvard University - Department of Economics and NYU Stern School of Business
Downloads 144 (257,161)
Citation 6

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When Does the Market Matter? Stock Prices and the Investment of Equity-Dependent Firms

Number of pages: 44 Posted: 02 Feb 2002 Last Revised: 29 Nov 2021
Malcolm P. Baker, Jeffrey Wurgler and Jeremy C. Stein
Harvard Business School, NYU Stern School of Business and Harvard University - Department of Economics
Downloads 107 (321,123)
Citation 67

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When Does the Market Matter? Stock Prices and the Investment of Equity-Dependent Firms

Quarterly Journal of Economics, Vol. 118, No. 3, pp. 969-1006, August 2003
Posted: 29 May 2003 Last Revised: 13 Aug 2008
Malcolm P. Baker, Jeffrey Wurgler and Jeremy C. Stein
Harvard Business School, NYU Stern School of Business and Harvard University - Department of Economics

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Would Stricter Capital Requirements Raise the Cost of Capital? Bank Capital Regulation and the Low Risk Anomaly

Number of pages: 52 Posted: 16 Mar 2013
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 486 (74,411)
Citation 9

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Capital Requirements, Banking, Low Risk Anomaly, Capital Asset Pricing Model

Do Strict Capital Requirements Raise the Cost of Capital? Bank Regulation, Capital Structure, and the Low Risk Anomaly

American Economic Review, Forthcoming
Number of pages: 10 Posted: 15 Mar 2015
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 480 (75,556)
Citation 7

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Bank, Banks, Banking, Regulation, Capital, Requirements, Leverage, Tier 1, Capitalization, Anomaly, Risk

Do Strict Capital Requirements Raise the Cost of Capital? Banking Regulation and the Low Risk Anomaly

NYU Working Paper No. FIN-13-003
Number of pages: 52 Posted: 17 Mar 2013 Last Revised: 22 Apr 2013
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 261 (149,627)

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Would Stricter Capital Requirements Raise the Cost of Capital? Bank Capital Regulation and the Low Risk Anomaly

NYU Working Paper No. 2451/31748
Number of pages: 52 Posted: 24 Apr 2013
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 126 (285,384)

Abstract:

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Do Strict Capital Requirements Raise the Cost of Capital? Banking Regulation and the Low Risk Anomaly

Number of pages: 53 Posted: 04 May 2013 Last Revised: 20 Jun 2021
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 38 (552,245)
Citation 16

Abstract:

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20.
Downloads 1,253 ( 19,803)
Citation 31

Government Bonds and the Cross-Section of Stock Returns

AFA 2010 Atlanta Meetings Paper
Number of pages: 42 Posted: 22 Mar 2009
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 443 (83,246)
Citation 8

Abstract:

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Comovement and Predictability Relationships between Bonds and the Cross-Section of Stocks

NYU Working Paper No. 2451/29604
Number of pages: 45 Posted: 10 Aug 2010
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 262 (149,012)

Abstract:

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Comovement and Predictability Relationships between Bonds and the Cross-Section of Stocks

NYU Working Paper No. 2451/29604
Number of pages: 45 Posted: 10 May 2010
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 168 (225,852)

Abstract:

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Comovement and Predictability Relationships between Bonds and the Cross-Section of Stocks

NYU Working Paper No. 2451/29604
Number of pages: 45 Posted: 07 Jun 2010
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 106 (323,202)

Abstract:

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Government Bonds and the Cross-Section of Stock Returns

NYU Working Paper No. 2451/26644
Number of pages: 39 Posted: 03 Nov 2008
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 79 (390,040)

Abstract:

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Comovement and Predictability Relationships between Bonds and the Cross-Section of Stocks

NYU Working Paper No. 2451/29604
Number of pages: 45 Posted: 07 Sep 2010
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 70 (417,904)
Citation 9

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Comovement and Predictability Relationships between Bonds and Thecross-Section of Stocks

NYU Working Paper No. FIN-10-003
Number of pages: 45 Posted: 06 Oct 2010
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 69 (421,319)

Abstract:

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Comovement and Predictability Relationships between Bonds and the Cross-Section of Stocks

NYU Working Paper No. 2451/29604
Number of pages: 45 Posted: 06 Jul 2010
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 56 (468,999)

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Financing the Response to Climate Change: The Pricing and Ownership of U.S. Green Bonds

Number of pages: 45 Posted: 13 Nov 2018
Harvard Business School, Brandeis International Business School, Harvard Business School and NYU Stern School of Business
Downloads 1,243 (20,699)
Citation 11

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Municipal Bonds, Green Bonds, Climate Finance

Financing the Response to Climate Change: The Pricing and Ownership of U.S. Green Bonds

Number of pages: 42 Posted: 29 Oct 2018
Harvard Business School, Brandeis International Business School, Harvard Business School and NYU Stern School of Business
Downloads 24 (640,703)
Citation 20

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How Does Investor Sentiment Affect the Cross-Section of Stock Returns?

Number of pages: 27 Posted: 26 Jun 2008 Last Revised: 12 Jan 2009
John Wang, Jeffrey Wurgler and Malcolm P. Baker
affiliation not provided to SSRN, NYU Stern School of Business and Harvard Business School
Downloads 1,084 (25,399)
Citation 2

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Sentiment, cross-section, prediction, index, behavioral

How Does Investor Sentiment Affect the Cross-Section of Stock Returns?

Journal of Investment Management, Vol. 6, No. 2, Second Quarter 2008
Posted: 12 May 2008 Last Revised: 12 Jan 2009
Malcolm P. Baker, John Wang and Jeffrey Wurgler
Harvard Business School, affiliation not provided to SSRN and NYU Stern School of Business

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Sentiment, cross-section, prediction, index, behavioral

The Maturity of Debt Issues and Predictable Variation in Bond Returns

Number of pages: 45 Posted: 15 Aug 2001 Last Revised: 13 Jan 2009
Malcolm P. Baker, Robin M. Greenwood and Jeffrey Wurgler
Harvard Business School, Harvard Business School - Finance Unit and NYU Stern School of Business
Downloads 682 (48,322)
Citation 7

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Bond, Maturity, Return, Corporate, Debt, Issue, Predictability, Cost of Capital

Do Firms Borrow at the Lowest-Cost Maturity? The Long-Term Share in Debt Issues and Predictable Variation in Bond Returns

NYU Working Paper No. FIN-01-020
Number of pages: 45 Posted: 03 Nov 2008
Malcolm P. Baker, Robin M. Greenwood and Jeffrey Wurgler
Harvard Business School, Harvard Business School - Finance Unit and NYU Stern School of Business
Downloads 71 (414,708)

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The Maturity of Debt Issues and Predictable Variation in Bond Returns

NYU Working Paper No. 2451/31361
Number of pages: 31 Posted: 10 Sep 2013
Malcolm P. Baker, Robin M. Greenwood and Jeffrey Wurgler
Harvard Business School, Harvard Business School - Finance Unit and NYU Stern School of Business
Downloads 37 (557,563)
Citation 19

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The Maturity of Debt Issues and Predictable Variation in Bond Returns

Journal of Financial Economics (JFE), Vol. 70, pp. 261-291, 2003, NYU Working Paper No. FIN-11-028
Posted: 15 Dec 2011
Malcolm P. Baker, Robin M. Greenwood and Jeffrey Wurgler
Harvard Business School, Harvard Business School - Finance Unit and NYU Stern School of Business

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The Maturity of Debt Issues and Predictable Variation in Bond Returns

Journal of Financial Economics, Vol. 70, No. 2, pp. 261-291, November 2003
Posted: 09 Sep 2002 Last Revised: 13 Aug 2008
Malcolm P. Baker, Robin M. Greenwood and Jeffrey Wurgler
Harvard Business School, Harvard Business School - Finance Unit and NYU Stern School of Business

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bond, maturity, return, corporate, debt, issue, predictability, cost of capital, cost of debt

24.
Downloads 674 ( 49,732)
Citation 5

The Risk Anomaly Tradeoff of Leverage

Number of pages: 47 Posted: 15 Mar 2015
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 456 (80,406)

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leverage, capital structure, anomaly, risk, tradeoff, corporate finance

Leverage and the Beta Anomaly

NYU Working Paper No. 2451/34914
Number of pages: 40 Posted: 31 Aug 2016 Last Revised: 14 Jan 2019
Malcolm P. Baker, Mathias Hoeyer and Jeffrey Wurgler
Harvard Business School, University of Oxford and NYU Stern School of Business
Downloads 187 (205,659)
Citation 2

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risk anomaly, capital structure, leverage

The Risk Anomaly Tradeoff of Leverage

Number of pages: 48 Posted: 28 Mar 2016
Malcolm P. Baker, Mathias Hoeyer and Jeffrey Wurgler
Harvard Business School, University of Oxford and NYU Stern School of Business
Downloads 31 (592,527)
Citation 2

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Predicting Returns with Managerial Decisions Variables: Is There a Small-Sample Bias?

Number of pages: 31 Posted: 28 Sep 2004 Last Revised: 12 Aug 2008
Malcolm P. Baker, Ryan Taliaferro and Jeffrey Wurgler
Harvard Business School, Acadian Asset Management and NYU Stern School of Business
Downloads 391 (96,278)
Citation 1

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Predictability, market timing, bias

Pseudo Market Timing and Predictive Regressions

NYU Working Paper No. FIN-04-021
Number of pages: 37 Posted: 03 Nov 2008
Malcolm P. Baker, Ryan Taliaferro and Jeffrey Wurgler
Harvard Business School, Acadian Asset Management and NYU Stern School of Business
Downloads 90 (359,905)

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Predictive Regressions Based on Managerial Decision Variables: Is There a Small-Sample Bias?

NYU Working Paper No. 2451/31360, NYU Working Paper No. FIN-11-027
Number of pages: 20 Posted: 15 Dec 2011
Malcolm P. Baker, Jeffrey Wurgler and Ryan Taliaferro
Harvard Business School, NYU Stern School of Business and Acadian Asset Management
Downloads 62 (445,974)

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Pseudo Market Timing and Predictive Regressions

Number of pages: 38 Posted: 19 Oct 2004 Last Revised: 30 Jul 2021
Malcolm P. Baker, Ryan Taliaferro and Jeffrey Wurgler
Harvard Business School, Acadian Asset Management and NYU Stern School of Business
Downloads 55 (472,940)
Citation 1

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Predicting Returns with Managerial Decision Variables: Is There a Small-Sample Bias?

Journal of Finance, Vol. 61, No. 4, pp. 1711-1730, August 2006
Posted: 22 Feb 2006 Last Revised: 12 Aug 2008
Malcolm P. Baker, Ryan Taliaferro and Jeffrey Wurgler
Harvard Business School, Acadian Asset Management and NYU Stern School of Business

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Predictive regressions, market timing, small sample bias

26.
Downloads 547 ( 65,041)
Citation 2

What Do You Think about Climate Finance?

Number of pages: 25 Posted: 04 Aug 2021
Johannes Stroebel and Jeffrey Wurgler
New York University (NYU) - Leonard N. Stern School of Business and NYU Stern School of Business
Downloads 474 (76,929)

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Climate finance, Environment, ESG, SRI, Social discounting

What Do You Think About Climate Finance?

Number of pages: 27 Posted: 18 Oct 2021
Johannes Stroebel and Jeffrey Wurgler
New York University (NYU) - Leonard N. Stern School of Business and NYU Stern School of Business
Downloads 53 (481,105)

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climate finance, environment, ESG, SRI, social discounting

What Do You Think About Climate Finance?

Number of pages: 26 Posted: 09 Aug 2021 Last Revised: 19 Nov 2021
Johannes Stroebel and Jeffrey Wurgler
New York University (NYU) - Leonard N. Stern School of Business and NYU Stern School of Business
Downloads 20 (671,355)
Citation 2
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Dividends as Reference Points: A Behavioral Signaling Approach

Review of Financial Studies (Forthcoming), NYU Working Paper No. 2451/31372
Number of pages: 64 Posted: 16 Dec 2011 Last Revised: 05 Dec 2015
Malcolm P. Baker, Brock Mendel and Jeffrey Wurgler
Harvard Business School, Harvard University and NYU Stern School of Business
Downloads 331 (116,383)

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Dividends as Reference Points: A Behavioral Signaling Approach

Number of pages: 59 Posted: 16 Jul 2012
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 137 (267,709)

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dividend, signaling, Lintner, repurchase, behavioral signaling

Dividends as Reference Points: A Behavioral Signaling Approach

Number of pages: 60 Posted: 21 Jul 2012 Last Revised: 06 Nov 2021
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 24 (640,703)

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28.
Downloads 469 ( 78,465)
Citation 47

The Effect of Dividends on Consumption

Number of pages: 54 Posted: 06 Mar 2006 Last Revised: 12 Aug 2008
Malcolm P. Baker, Stefan Nagel and Jeffrey Wurgler
Harvard Business School, University of Chicago - Booth School of Business and NYU Stern School of Business
Downloads 339 (113,279)
Citation 2

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Dividend, consumption, household

The Effect of Dividends on Consumption

NYU Working Paper No. FIN-05-041
Number of pages: 49 Posted: 03 Nov 2008
Malcolm P. Baker, Stefan Nagel and Jeffrey Wurgler
Harvard Business School, University of Chicago - Booth School of Business and NYU Stern School of Business
Downloads 88 (365,075)

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The Effect of Dividends on Consumption

Number of pages: 50 Posted: 16 Jun 2006 Last Revised: 31 Jul 2021
Malcolm P. Baker, Stefan Nagel and Jeffrey Wurgler
Harvard Business School, University of Chicago - Booth School of Business and NYU Stern School of Business
Downloads 42 (531,415)
Citation 19

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The Effect of Dividends on Consumption

Brookings Papers on Economic Activity, pp. 277-291, 2007
Posted: 30 Apr 2007 Last Revised: 12 Jan 2009
Malcolm P. Baker, Stefan Nagel and Jeffrey Wurgler
Harvard Business School, University of Chicago - Booth School of Business and NYU Stern School of Business

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dividend, consumption, tax cut, CEX, mental accounting

29.
Downloads 399 ( 94,813)
Citation 65

Catering Through Nominal Share Prices

Number of pages: 46 Posted: 16 Jan 2008 Last Revised: 12 Jan 2009
Malcolm P. Baker, Robin M. Greenwood and Jeffrey Wurgler
Harvard Business School, Harvard Business School - Finance Unit and NYU Stern School of Business
Downloads 282 (138,047)
Citation 3

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Stock splits, catering, payout policy, investor demand, nominal share prices

Catering Through Nominal Share Prices

NYU Working Paper No. FIN-07-026
Number of pages: 46 Posted: 03 Nov 2008
Malcolm P. Baker, Robin M. Greenwood and Jeffrey Wurgler
Harvard Business School, Harvard Business School - Finance Unit and NYU Stern School of Business
Downloads 93 (352,411)
Citation 14

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Catering Through Nominal Share Prices

Number of pages: 46 Posted: 30 Jan 2008 Last Revised: 09 Aug 2021
Malcolm P. Baker, Robin M. Greenwood and Jeffrey Wurgler
Harvard Business School, Harvard Business School - Finance Unit and NYU Stern School of Business
Downloads 24 (640,703)
Citation 3

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Investing in the Presence of Massive Flows: The Case of MSCI Country Reclassifications

NYU Working Paper No. 2451/38626
Number of pages: 24 Posted: 11 May 2017 Last Revised: 24 Jun 2017
Terence Burnham, Harry Gakidis and Jeffrey Wurgler
Chapman University - The George L. Argyros School of Business & Economics, Acadian Asset Management and NYU Stern School of Business
Downloads 203 (190,914)

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MSCI, Index, Benchmark, Emerging, Frontier, Alpha

Investing in the Presence of Massive Flows: The Case of MSCI Country Reclassifications

Number of pages: 25 Posted: 10 Jul 2017 Last Revised: 14 Nov 2021
Terence Burnham, Harry Gakidis and Jeffrey Wurgler
Chapman University - The George L. Argyros School of Business & Economics, Acadian Asset Management and NYU Stern School of Business
Downloads 27 (618,873)
Citation 3

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31.

Do Strict Capital Requirements Raise the Cost of Capital? Bank Regulation and the Low Risk Anomaly

NYU Working Paper No. 2451/38628
Number of pages: 59 Posted: 12 May 2017
Malcolm P. Baker and Jeffrey Wurgler
Harvard Business School and NYU Stern School of Business
Downloads 171 (222,326)
Citation 1

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Banking, Bank, Capital Requirements, Leverage, Basel

32.

Dividends as Reference Points: A Behavioral Signaling Approach

NYU Working Paper No. 2451/38627
Number of pages: 42 Posted: 12 May 2017
Malcolm P. Baker, Jeffrey Wurgler and Brock Mendel
Harvard Business School, NYU Stern School of Business and Harvard University
Downloads 73 (403,708)
Citation 5

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33.

What Do You Think About Climate Finance?

Number of pages: 28 Posted: 09 Nov 2021
Johannes Stroebel and Jeffrey Wurgler
New York University (NYU) and NYU Stern School of Business
Downloads 0 (819,021)
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Climate finance, Environment, ESG, Social discounting, SRI