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Journal
Articles:
“On the Debt Capacity of Growth Options,” with M. Barclay and E. Morellec, Journal of Business (forthcoming)
“Boundaries of the Firm: Evidence from the Banking Industry,” with J. Brickley and J. Linck, Journal of Financial
Economics (forthcoming)
“Incentives for Accounting Information
Production: Property Liability Insurer Stock-Charter Conversions,” with D.
Mayers, Journal of Risk and Insurance, (forthcoming).
“The Joint
Determination of Leverage and Maturity,” with M. Barclay and L. Marx, Journal
of Corporate Finance, Vol. 9, No. 2, 149-167 (March 2003).
“Corporate Governance, Ethics, and Organizational
Architecture,” with J. Brickley and J. Zimmerman, Journal of Applied Corporate Finance, Vol. 15. No. 3, 8-19
(Winter 2003).
“Business Ethics and Organizational
Architecture,” with J. Brickley and J. Zimmerman, Journal of Banking and
Finance, Vol. 26, 1821-1835, (2002).
“Ownership
Structure and Control: Property-Casualty Insurer Conversion to Stock
Charter,” with D. Mayers, Journal of Financial Services Research,
Vol. 21, No. 1/2, 117-144 (February/April 2002).
“Insurer
Ownership Structure and Executive Compensation as Complements,” with L.
Marx and D. Mayers, Journal of Risk and Insurance, Vol. 68, No. 3,
449-463 (September 2001).
“Organizational Architecture and
Corporate Finance”, Journal of Financial Research, Vol. 24, No.1,
1-13 (Spring 2001).
“An Introduction to Game Theory and
Business Strategy,” with J.A. Brickley and J.Zimmerman, Journal of
Applied Corporate Finance,Vol. 13, No. 2, 84-98 (Summer 2000).
“Tax Progressivity and Corporate
Incentives to Hedge,” with J. Graham, Journal
of Applied Corporate Finance, Vol.
12, No. 4, 102-111 (Winter 2000).
“Teaching the Economics of Organizations,” with J.A. Brickley and J.L. Zimmerman, Financial Practice and Education, Vol. 9, No. 2, 120-124 (Fall/Winter 1999).
“Tax Incentives to Hedge,” with J.
Graham, Journal of Finance, Vol.
54, No. 6, 2241-2262 (1999).
“The
Capital Structure Puzzle: Another Look at the Evidence,” with M. Barclay, Journal of Applied Corporate Finance,Vol. 12, No. 1, 8-20 (Spring 1999).Reprinted in The New Corporate Finance: Where Theory Meets
Practice, 3rd edition, edited by D. Chew (Irwin/McGraw-Hill,
Boston) 197-209 (2001).
“Derivatives
Regulation: Implications for Central Banks,” with L. Hentschel, Journal of Monetary Economics, Vol.
40, No. 2, 305-346 (1997).
“Management
Fads and Organizational Architecture,” with J. Brickley and J. Zimmerman, Journal of Applied Corporate Finance,
Vol. 10, No. 2, 24-39 (Fall 1997).
“Risks
in Derivatives Markets: Implications for the Insurance Industry,” with L.
Hentschel, Journal of Risk and
Insurance, Vol. 64, No. 2, 323‑345 (June 1997).
“Guaranty
Funds and Risktaking: Evidence from the Insurance Industry,” with S.J. Lee
and D. Mayers, Journal of Financial
Economics, Vol. 44, No. 1, 3‑24 (April 1997). Printed in the Proceedings of the Risk Theory Society
(1994).
“Board
Composition In The Insurance Industry,” with D. Mayers and A. Shivdasani, Journal of Business, Vol. 70, No. 1, 33-63 (January 1997). Excerpted in the Contemporary Finance Digest, Vol. 2,
No. 1 (Spring 1998).
“On
Financial Architecture: Leverage, Maturity, and Priority,” with M.J.
Barclay, Journal of Applied Corporate
Finance, Vol. 8, No. 4, 4-17 (Winter 1996). Reprinted in The New Corporate Finance: Where Theory
Meets Practice, 2nd edition, edited by D. Chew
(Irwin/McGraw-Hill, Boston)
230-243 (1998).
“On
the Choice of Insurance Distribution Systems,” with W.J. Kim and D. Mayers,
Journal of Risk and Insurance,
Vol. 63, No. 2, 207-227 (June 1996). Received Outstanding Paper Award, Southern Finance Association (1991).
Printed in the Proceedings of the
Risk Theory Society (1992).
“Implications
of Capital Markets Research for Corporate Finance,” with J. Shanken, Financial Management, Vol. 25, No. 1, 98-104 (Spring 1996).
“The
Economics of Organizational Architecture,” with J.A. Brickley and J.L.
Zimmerman, Journal of Applied
Corporate Finance, Vol. 8, No. 2, 19-31 (Summer 1995). Reprinted in The New Corporate Finance: Where Theory
Meets Practice, 2nd edition, edited by D. Chew
(Irwin/McGraw-Hill, Boston)
127-139 (1998). Reprinted in The New Corporate Finance: Where Theory
Meets Practice, 3rd edition, edited by D. Chew
(Irwin/McGraw-Hill, Boston)
104-116 (2001).
“Transfer
Pricing and the Control of Internal Corporate Transactions,” with J.A.
Brickley and J.L. Zimmerman, Journal
of Applied Corporate Finance, Vol. 8, No. 2, 60-67 (Summer 1995).
“The
Priority Structure of Corporate Liabilities,” with M.J. Barclay, Journal of Finance, Vol. 50, No. 3,
899-917 (July 1995).
“Corporate
Risk Management: Theory and Practice,” Journal
of Derivatives, Vol. 2, No. 4, 21-30 (Summer 1995). Reprinted in Corporate Risk Management: Strategies
and Management, edited by G. Brown and D. Chew (Risk Books, London),
27-31 (1999).
“Controlling
Risks in Derivatives Markets,” with L. Hentschel, Journal of Financial Engineering, Vol. 4, 101-125 (June 1995).
“The
Maturity Structure of Corporate Debt,” with M.J. Barclay, Journal of Finance, Vol. 50,
No. 2, 609-631 (June 1995).
“The
Determinants of Corporate Leverage and Dividend Policies,” with M.J.
Barclay and R.L. Watts, Journal of
Applied Corporate Finance,
Vol. 7, No. 4, 4-19 (Winter 1995). Reprinted in Journal of Financial Education, Vol. 23, 1-15 (1997). Reprinted
in The New Corporate Finance: Where
Theory Meets Practice, 2nd edition, edited by D. Chew
(Irwin/McGraw-Hill, Boston)
214-229 (1998).
“Managerial
Discretion and Stock Insurance Company Ownership Structure,” with D.
Mayers, Journal of Risk and Insurance,
Vol. 61, No. 4, 638-655 (December 1994).
“Risk and Regulation in Derivatives Markets,” with L.
Hentschel, Journal of Applied
Corporate Finance, Vol. 7, No. 3, 8-21 (Fall 1994). Reprinted in Best of Journal of Applied Corporate
Finance: 1988-1994, 38-51 (1994). Reprinted in Derivatives Handbook: Risk Management and Control, edited by
R. Schwartz and C. Smith (Wiley: New York)
3-21 (1997). Reprinted (in Spanish) “Riesgo
y Regulación en Mercados Devivados” Revista
Superintendencio Bancaria, Número 30, 34-50 (March 1997). Reprinted in The New Corporate Finance: Where Theory
Meets Practice, 2nd edition, edited by D. Chew
(Irwin/McGraw-Hill, Boston)
446-459 (1998).
“Ethics,
Incentives, and Organizational Design,” with J.A. Brickley and J.L.
Zimmerman, Journal of Applied
Corporate Finance, Vol. 7, No. 2, 20-30 (Summer 1994).
“Extending
Trade Credit and Financing Receivables,” with S.L. Mian, Journal of Applied Corporate Finance, Vol. 7, No. 1,
75-84 (Spring 1994). Reprinted in Corporate
Finance (Euromoney Publications: London)
No. 117, 38-43 (August 1994). Reprinted in The Corporate Finance Reader, edited by R. Kolb (Kolb
Publishing Company: Boulder, CO)
(June 1995).
“Corporate
Voting: Evidence from Charter Amendment Proposals,” with J.A. Brickley and
R.C. Lease, Journal of Corporate
Finance, Vol. 1, No 1, 5-31 (January 1994).
“Corporate
Insurance Strategy: The Case of British Petroleum,” with N.A. Doherty, Journal of Applied Corporate Finance,
Vol. 6, No. 3, 4-15 (Fall 1993). Excerpted in the Financial Management Collection, Vol. 9, No. 3, 5-6 (Fall
1994). Reprinted in Best of Journal
of Applied Corporate Finance: 1988-1994,
10-21 (1994). Reprinted in The
Revolution in Corporate Finance, 3rd Edition, edited by J.
Stern and D. Chew (Blackwell: Oxford)
239-250 (1998). Reprinted in The New
Corporate Finance: Where Theory Meets Practice, 2nd edition,
edited by D. Chew (Irwin/McGraw-Hill, Boston)
522-533 (1998). Reprinted in The New
Corporate Finance: Where Theory Meets Practice, 3rd edition, edited by
D. Chew (Irwin/McGraw-Hill, Boston)
475-487 (2001).
“A
Perspective on Violations of Accounting Based Debt Covenants,” Accounting Review, Vol. 68, No 2,
289-303 (April 1993).
“On
The Determinants of Corporate Hedging,” with D.R. Nance and C.W. Smithson, Journal of Finance, Vol. XLVIII, No
1, 267-284 (March 1993). Excerpted in the Financial Management Collection, Vol. 8, No. 2, p. 10
(Spring/Summer 1993).
“Risk
Management in Banking: The Principles,” Financial
Markets and Portfolio Management,
Vol. 7, No 1, 12-23 (January 1993). Reprinted in Advanced Strategies in Financial Risk Management, edited by R.
Schwartz and C. Smith (New York Institute of Finance: New
York) 147-162 (1993).
“The
Investment Opportunity Set and Corporate Financing,
Dividend and Compensation Policies,” with R.L. Watts, Journal of Financial Economics, Vol. 32, No. 3, 263-292
(December 1992).
“Economics
and Ethics: The Case of Salomon Brothers” Journal of Applied Corporate Finance, Vol. 5, No. 2, 23-28 (Summer 1992). Reprinted in Financial Management Collection, Vol. 7, No. 3, 3-7 (Fall
1992). Reprinted in Fundamentals of
Corporate Finance: Instructors
Manual, by S. Ross, R. Westerfield, and B. Jorden (Irwin: Homewood
IL) (1995).
“Accounts
Receivable Management Policy: Theory and Evidence,” with S.L. Mian, Journal of Finance, Vol. XLVII, No.
1, 169-200 (March 1992). Excerpted in the Financial Management Collection, Vol. 8, No. 2, p. 1011(Spring/Summer 1993).
“Executive
Compensation in the Life Insurance Industry,” with D. Mayers, Journal of Business, Vol. 65, No. 1,
51-74 (January 1992).
“Globalization
of Financial Markets,” Carnegie-Rochester
Conference Series on Public Policy, Vol. 34, 77-96 (Spring 1991).
“Incentives
Associated with Changes in Consolidated Reporting Requirements,” with S.L.
Mian, Journal of Accounting and
Economics, Vol. 13, No. 3, 249-266 (October 1990). Reprinted in The Economics of Accounting Policy
Choice, edited by R. Ball and C. Smith, 739-756 (1992).
“On
the Corporate Demand for Insurance: Evidence from the Reinsurance Market,”
with D. Mayers, Journal of Business,
Vol. 63, No. 1, Pt 1, 19-40 (January 1990).
“Incentives
for Unconsolidated Financial Reporting,” with S.L. Mian, Journal of Accounting and Economics, Vol. 12, No. 1/3,
141-171 (January 1990). Reprinted in The
Economics of Accounting Policy Choice, edited by R. Ball and C. Smith
(McGraw-Hill: New York)
708-738 (1992).
“Market
Volatility: Causes and Consequence,” Cornell
Law Review, Vol. 74, No. 3, 953-962 (July 1989). Reprinted in New York Economic Review, Vol. XX,15-22
(Fall 1989/ Spring 1990).
“Managing
Financial Risk,” with C.W. Smithson and D.S. Wilford, Journal of Applied Corporate
Finance, Vol. 1, No. 4, 27-48 (Winter (1989). Reprinted in The Handbook of Financial Engineering,
edited by C. Smith and C. Smithson (Harper and Row: New
York), 33-68 (1990). Reprinted in the Financial Derivatives Reader, edited
by R. Kolb (Kolb Publishing: Miami)
3-24 (1992). Reprinted in The Revolution
in Corporate Finance, edited by J. Stern and D. Chew (Blackwell: Oxford)
309-330 (1992). Reprinted in The New
Corporate Finance: Where Theory Meets Practice, edited by D. Chew
(McGraw-Hill: New York),
370-391 (1993). Reprinted in The
Revolution in Corporate Finance, 3rd Edition, edited by J.
Stern and D. Chew (Blackwell: Oxford)
283-304 (1998).
“Compensation
Alternatives for Occupationally Related Disability and Disease,” with R.W.
Hansen and P.W. MacAvoy, Journal of
Risk and Insurance, Vol. LVI, No. 2, 252-274 (June 1989).
“The
Market for Interest Rate Swaps,” with C. Smithson and L.M. Wakeman, Financial Management, Vol. 17, No. 4, 34-44 (Winter 1988). Received Manuscript Award in Financial Management,
Financial Management Association (1986). Reprinted in Handbook of Currency and Interest Rate Risk Management, edited
by R.J. Schwartz and C. Smith (New York Institute of Finance: New
York) Chapter 8 (1990). Reprinted in Handbook of Financial Engineering,
edited by C. Smith and C. Smithson (Harper and Row: New
York) 212-229 (1990). Reprinted in Studies in Financial Institutions:
Commercial Banks, edited by C. James and C. Smith, (McGraw-Hill: New
York) 458-468 (1994).
“Auditor
Liability and Information Disclosure,” with S.P. Kothari, T. Lys, and R.L.
Watts, Journal of Accounting,
Auditing and Finance, Vol. 3, No. 4, 307-339 (Fall 1988).
“Elements
of Mortgage Securitization,” with A.C. Hess, Journal of Real Estate Finance and Economics, Vol. 1, No. 4,
331-346 (December 1988). Reprinted in The
Global Asset Backed Securities Market: Structuring and Allocating Risk,
edited by C. Stone, A. Zissu and J. Lederman (Probus: New
York) 15-25 (1993). Reprinted in Studies in Financial Institutions:
Commercial Banks, edited by C. James and C.W. Smith, (McGraw-Hill: New
York) 491-506 (1994).
“Corporate
Payout Policy: Cash Dividends versus Open Market Share Repurchases,” with
M.J. Barclay, Journal of Financial
Economics, Vol. 22, No. 1, 61-81 (October 1988).
“Ownership
Structure Across Lines of Property-Casualty Insurance,” with D. Mayers, Journal of Law and Economics, Vol. XXXI, No. 2, 351-378 (October 1988). Reprinted in the Proceedings of the Risk Theory Seminar, (1986). Reprinted in the Insurance Law Anthology, Vol. III (International Library: Bethesda, Maryland), 409-438 (1988). Printed in Readings in Insurance Economics, edited by G. Dionne and S. Harrington (Huebner Foundation: Philadelphia) 532-559 (1992).
“Ownership
Structure and Voting on Antitakeover Amendments,” with J.A. Brickley and R.
C. Lease, Journal of Financial
Economics, Vol. 20, No. 1/2, 267-291 (January/March 1988).
“Death
and Taxes: The Market for Flower Bonds,” with D. Mayers, Journal of Finance, Vol. 42, No. 3,
685-698 (July 1987).
“Corporate
Insurance and the Underinvestment Problem,” with D. Mayers, Journal of Risk and Insurance, Vol.
LIV, No. 1, 45-54 (March 1987).
“Raising
Capital: Theory and Evidence” Midland
Corporate Finance Journal, Vol. 4, No. 1, 6-22 (Spring 1986).
Reprinted in Investment Banking
Handbook, edited by P. Williamson (John Wiley and Son: New
York) 71-93 (1988). Reprinted in The Revolution in Corporate Finance,
edited by J. Stern and D. Chew (Blackwell: Oxford)
200-216 (1992). Reprinted in The New
Corporate Finance: Where Theory Meets Practice, edited by D. Chew
(McGraw-Hall: New York),
178-194 (1993). Reprinted in The
Revolution in Corporate Finance, 3rd Edition, edited by J.
Stern and D. Chew (Blackwell: Oxford) 157-173
(1998). Reprinted in The New
Corporate Finance: Where Theory Meets Practice, 2nd edition,
edited by D. Chew (Irwin/McGraw-Hill, Boston) 294-310
(1998). Reprinted in The New
Corporate Finance: Where Theory Meets Practice, 3rd edition, edited by
D. Chew (Irwin/McGraw-Hill, Boston) 277-293
(2001).
“On
the Convergence of Insurance and Finance Research” Journal of Risk and Insurance, Vol. LIII, No. 4, 693-717
(December 1986). Reprinted in the Society
of Insurance Research Review, Vol. 97, 52.53.1-52.53.27 (September
1987).
“The
Evolving Market for Swaps,” with C.W. Smithson and L.M. Wakeman, Midland Corporate Finance Journal, Vol. 3,
No. 4, 20-32 (Winter 1986). Reprinted in the Revolution in Corporate Finance, edited by J. Stern and D. Chew
(Blackwell: London) 252-264
(1986). Reprinted in Financial
Management Collection, Vol. 1, No. 3, 1-8 (Autumn 1986). Reprinted in Handbook of Currency and Interest Rate
Risk Management, edited by R. Schwartz and C. Smith (New York Institute
of Finance: New York) Chapter
6 (1990). Reprinted in Handbook of
Financial Engineering, edited by C. W. Smith and C. Smithson (Harper
& Row: New York) 191-211
(1990). Reprinted in The Revolution
in Corporate Finance, edited by J. Stern and D. Chew (Blackwell: Oxford),
355-367 (1992). Reprinted in The New
Corporate Finance: Where Theory Meets Practice, (McGraw-Hill: New
York) 426-438 (1993). Reprinted in The Revolution in Corporate Finance,
3rd Edition, edited by J. Stern and D. Chew (Blackwell: Oxford) 305-317
(1998).
“Ownership
Structure and Control: The Mutualization of Stock Life Insurance
Companies,” with D. Mayers, Journal
of Financial Economics, Vol. 16, No. 1, 73-98 (May 1986). Reprinted in
the Proceedings of the Risk Theory
Seminar, (1985).
“Investment
Banking and the Capital Acquisition Process,” Journal of Financial Economics, Vol. 15, No. 1, 3-29 (Jan/Feb
1986). Reprinted in Issues and Readings
in Managerial Finance, edited by R. E. Johnson (Dryden Press: Hinedale,
IL), 343-371 (Third edition, 1987).
Reprinted in The Modern Theory of
Corporate Finance, edited by C. Smith (McGraw-Hill; New
York), 454-480 (1990). Reprinted in Investors Response to Management
Decisions: A Research-Based Analysis of Actions and Effects,” edited by
R. Altman (Quorum Books: New York)
(July 1992).
“The Determinants of Firm's Hedging
Policies,” with R.M. Stulz, Journal of Financial and Quantitative Analysis, Vol. 20, No. 4, 391-405 (December 1985). Reprinted in Studies
in Financial Institutions: Commercial Banks, edited by C. James and C.
Smith (McGraw-Hill: New York)
443-457 (1994). Reprinted in Corporate
Hedging in Theory and Practice: Lessons from Metallgesellschaft, edited
by C. Culp and M. Miller (Risk Books, London),
77-85 (1999).
“Determinants
of Corporate Leasing Policy,” with L.M. Wakeman, Journal of Finance, Vol. 40, No. 3, 895-908 (July 1985).
Reprinted in The Modern Theory of
Corporate Finance, edited by C. Smith (McGraw-Hill: New
York), 305-318 (1990).
“Optimal
Insurance Policy Indemnity Schedules,” with G. Huberman and D. Mayers, Bell Journal of Economics, Vol. 14, No. 2, 415-426 (Autumn 1983).
“The
Interdependence of Individual Portfolio Decisions and the Demand for
Insurance,” with D. Mayers, Journal
of Political Economy, Vol. 91, No. 2, 304-311 (April 1983). Reprinted
in Readings in Insurance Economics,
edited by G. Dionne and S. Harrington (Huebner Foundation: Philadelphia),
156-163 (1992).
“Incentive
and Tax Effects of U.S.
Executive Compensation Plans,” with R. Watts, Australian Journal of Management, Vol. 7, No. 2, 139-157
(December 1982). Reprinted in The
Economics of Accounting Policy Choice, edited by C. Smith and R. Ball
(McGraw-Hill: New York),
347-365 (1992). Excerpted in Foundations
of Corporate Law, edited by R. Romano (Oxford University Press: New
York) 164-170 (1993).
“Pricing
Mortgage Originations,” American Real
Estate and Urban Economics Association Journal, Vol. 10, No. 3, 313-330
(Fall 1982). Reprinted in Studies in
Financial Institutions: Commercial Banks, edited by C. James and C.
Smith (McGraw-Hill: New York)
187-204 (1994).
“The
Corporate Insurance Decision,” with D. Mayers, Chase Financial Quarterly, Vol. 1, No. 3, 47-65 (Spring 1982).
Reprinted in Issues in Corporate
Finance, (Stern, Stewart, Putnam and Macklis, Ltd: New
York), 53-62 (1983). Reprinted in the Rochester Management Journal, Vol. 11, No. 1,
22-29 (Spring 1984). Reprinted in The
Revolution in Corporate Finance, edited by J. Stern and D. Chew
(Blackwell: London) 230-238
(1986). Reprinted in The Revolution
in Corporate Finance, edited by J. Stern and D. Chew (Blackwell: Oxford)
346-354 (1992). Reprinted in The New
Corporate Finance: Where Theory Meets Practice, edited by D. Chew
(McGraw Hill: New York),
392-400 (1993).
“On
the Corporate Demand for Insurance,” with D. Mayers, Journal of Business, Vol. 55, No. 2, 28l-296 (April l982).
Reprinted in Readings in Insurance
Economics, edited by G. Dionne and S. Harrington (Huebner Foundation: Philadelphia),
190-205 (1992).
“Contractual
Provisions, Organizational Structure, and Conflict Control in Insurance
Markets,” with D. Mayers, Journal of
Business, Vol. 54, No. 3, 407-434 (July l98l).
“On
the Theory of Financial Contracting: The Personal Loan Market,” Journal of Monetary Economics, Vol.
6, No. 3, 333-357 (July l980).
“Trading
Costs for Listed Options: The Implications for Market Efficiency,” with
S.M. Phillips, Journal of Financial
Economics, Vol. 8, No. 2, 179-20l (June l980). Received Pommerance Prize, Chicago
Board Options Exchange (1980). Reprinted in Proceedings of the Amex Options Colloquium, (New
York) (l98l). Reprinted in CFA Readings in Derivative Securities, (Charlottesville,
VA), 132-154 (1988). Reprinted in Empirical Research in Capital Markets,
edited by G. Schwert and C. Smith (McGraw-Hill: New
York) 731-755 (1992).
“Capital
Asset Pricing with Proportional Transactions Costs,” with F. Milne, Journal of Financial and Quantitative Analysis, Vol. XV, No. 2, 253-266
(June l980).
“On
Financial Contracting: An Analysis of Bond Covenants,” with J.B. Warner, Journal of Financial Economics, Vol. 7, No. 2, ll7-l6l (June l979).
Excerpted in Economics of Corporation
Law and Securities Regulation, edited by R. Posner and K. Scott
(Little, Brown: Boston),
258-266 (l980). Reprinted in The
Modern Theory of Corporate Finance, edited by M. Jensen and C. Smith
(McGraw-Hill: New York),
175-219 (1984). Reprinted in The
Modern Theory of Corporate Finance, edited by C. Smith (McGraw-Hill: New
York) 167-211 (1990). Reprinted in The Economics of Accounting Policy
Choice, edited by R. Ball and C. Smith (McGraw-Hill: New
York), 165-209 (1992). Excerpted in Corporate Finance Cases and Materials,
edited by M. Chirelstein and V. Brudney (Foundation Press), (May 1993).
Excerpted in Foundations of Corporate
Law, edited by R. Romano (Oxford University Press: New
York) 127-133 (1993). Reprinted in Studies in Financial Institutions: Commercial Banks, edited by C. James
and C. Smith (McGraw-Hill: New York)
142-186 (1994). Reprinted in The Debt
Market, edited by S. Ross (Edward Elgar Publishing, LTD; Cheltenham,
UK) (2000).
“Alternate
Methods for Raising Capital: Rights versus Underwritten Offerings” Journal of Financial Economics, Vol. 5, No. 3, 273-307 (December l977).
Reprinted in The Modern Theory of
Corporate Finance, edited by M. Jensen and C. Smith (McGraw- Hill: New
York), 436-470 (1984).
“Valuing
Employee Stock Option Plans Using Option Pricing Models,” with J.L.
Zimmerman, Journal of Accounting
Research, Vol. l4, No. 2, 357-364 (Autumn l976).
“A
Transactions Cost Approach to the Theory of Financial Intermediation,” with
G.J. Benston, Journal of Finance,
Vol. XXXI, No. 2, 2l5-23l (May l976). Reprinted in Studies in Financial Institutions: Commercial Banks, edited by
C. James and C. Smith (McGraw-Hill: New York)
5-21 (1994). Reprinted in Financial
Intermediaries, edited by M. Lewis (Edward Elgar: London)
70-86 (1995).
“Option
Pricing: A Review” Journal of Financial
Economics, Vol. 3, No. l/2, 3-52, (January/March l976). Reprinted in Readings in Investments, edited by
J. Francis, C. Lee and D. Farrar (McGraw-Hill: New
York), 6l6-664 (l980). Reprinted in Handbook of Financial Engineering,
edited by C. Smith and C. Smithson (Harper and Row: New
York), 255-303 (1990).
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