A test of the debt-monitoring hypothesis: The case of corporate R&D expenditures

Financial Review

Volumn 32, Issue 1, 1997, Pages 21-48

  Zantout, Zaher Z ^a  

^a RIDER UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0009009369     PISSN: 07328516     EISSN: 15406288     Source Type: Journal    
DOI: 10.1111/j.1540-6288.1997.tb00413.x     Document Type: Article

References (18)

1. Bebchuk, Lucian A., and Lars A. Stole., Do Short-Term Objectives Lead to Under- or Overinvestment in Long-Term Projects Journal of Finance 48(June 1993): 719-729.
2. Belsley, David., Edwin, Kuh., and Roy Welsch., Regression Diagnostics: Identifying Influential Data and Sources of Collinearity. New York: John Wiley & Sons, Inc., 1980.
3. Black, Fischer., and Myron Scholes., The Pricing of Options and Corporate Liabilities. Journal of Political Economy 81(MayJune 1973): 637-654.
4. Chan, Su Han., John, Martin., and John Kensinger., Corporate Research and Development Expenditures and Share Value. Journal of Financial Economics 26(August 1990): 255-276.
5. Dennis, Debra., and John McConnell., Corporate Mergers and Security Returns. Journal of Financial Economics 16(June 1986): 143-187.
6. Grossman, Sanford J., and Oliver D. Hart., Corporate Financial Structure and Managerial Incentives.“InThe Economics of Information and Uncertainty, edited byJohn J.McCall. Chicago: University of Chicago Press, 1982.
7. Hall, Bronwyn H., The Stock Market’s Valuation of R&D Investment During the 1980‘s. American Economic Review 83(May 1993): 259-264.
8. Harris, Milton., and Artur Raviv., Capital Structure and the Informational Role of Debt. Journal of Finance 45(June 1990): 321-349.
9. Hughes, Patricia J., Signalling by Direct Disclosure Under Asymmetric Information. Journal of Accounting and Economics 8(June 1986): 119-142.
10. Jensen, Michael C., Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers. American Economic Review 76(May 1986): 323-329.
11. Jensen, Michael C., and William H. Meckling., Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure. Journal of Financial Economics 3(October 1976): 305-360.
12. John, Teresa A., and Kose John., Top-Management Compensation and Capital Structure. Journal of Finance 48(July 1993): 949-974.
13. Maloney, Michael T., Robert E. McCormick., and Mark L. Mitchell., Managerial Decision Making and Capital Structure. Journal of Business 66(April 1993): 189-217.
14. Marais, Laurentius., Katherine, Schipper., and Abbie Smith., Wealth Effects of Going Private for Senior Securities. Journal of Financial Economics 23(June 1989): 155-191.
15. McConnell, John J., and Chris J. Muscarella., Corporate Capital Expenditure Decisions and the Market Value of the Firm. Journal of Financial Economics 14(September 1985): 399-422.
16. Stulz, Rene M., Managerial Discretion and Optimal Financing Policies. Journal of Financial Economics 26(July 1990): 3-27.
17. White, Halbert., A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity. Econometrica 48(May 1980): 817-838.
18. Zantout, Zaher., and George Tsetsekos., The Wealth Effects of Announcements of R&D Expenditure Increases. Journal of Financial Research 17(Summer 1994): 205-216.