Publications

February 1983
Article

Effects of Nominal Contracting on Stock Returns

By: K. French, G. W. Schwert and R. S. Ruback

Keywords: Stocks; Finance

winter 1982
Article

The Conoco Takeover and Stockholder Returns

By: R. S. Ruback

Keywords: Stocks; Finance; Energy Industry

December 1981 (Revised September 1986)
Case

Marriott Corp.

By: Thomas R. Piper

Marriott is considering the repurchase of ten million shares. This is apparently at odds with the financial policies that the Board of Directors passed two years earlier. Students must discuss why the policies were passed and why changes are now necessary. Includes a... View Details

Keywords: Stocks; Policy; Governing and Advisory Boards; Change; Financial Strategy; Valuation

November 1981
Article

Effects of Nominal Contracting on Stock Returns

By: K. French, G. W. Schwert and R. S. Ruback

Keywords: Stocks; Profit

May – June 1981
Article

Is Your Stock Worth Its Market Price?

By: W. E. Fruhan Jr. and Thomas R. Piper

Keywords: Stocks; Price; Value

1980
Working Paper

Taxation and the Ex-dividend Day Behavior of Common Stock Prices

By: Jerry R. Green

The behavior of stock prices around ex-dividend days has been suggested as evidence for tax-induced clientele effects and as a means to estimate the average effective tax rate faced by investors. In this paper these possibilities are examined theoretically and... View Details

Keywords: Taxation; Stocks; Price

1980
Working Paper

Components of Manufacturing Inventories: A Structural Model of the Production Process

By: Alan J. Auerbach and Jerry R. Green

This paper presents a structural model of production and inventory accumulation based on the hypothesis of cost minimization. It differs from previous attempts in several respects. First, it integrates the analysis of input inventories with output inventories, treating... View Details

February 1979
Background Note

Note on the Theory of Optimal Capital Structure

By: William E. Fruhan Jr.

Examines the interrelationship between the maximization of the share value of a firm's common stock and the minimization of the firm's weighted average cost of capital. Presents a revised version of a case by J.W. Mullins, Jr. View Details

Keywords: Capital Structure; Cost of Capital; Stock Shares; Core Relationships; Value

January 1978
Article

Pooling vs. Purchase: The Effects of Accounting for Mergers on Stock Prices

By: Robert S. Kaplan, Hai Hong and Gershon Mandelker

Keywords: Accounting; Mergers and Acquisitions; Stocks; Price

December 1977
Article

Tender Offers and Stockholder Returns: An Empirical Analysis

By: P. Dodd and R. S. Ruback

Keywords: Ownership; Money; Stocks

May 1976
Article

The Impact on Option Pricing of Specification Error in the Underlying Stock Price Returns

By: Robert C. Merton

Keywords: Price; Stocks

January–February 1976
Article

Option Pricing When Underlying Stock Returns are Discontinuous

By: Robert C. Merton

Keywords: Price; Stocks; Assets

April 1975 (Revised December 1991)
Case

Consolidated Edison Co. (Abridged)

By: Thomas R. Piper

Faced with large external financing needs and a low stock price, Con Ed management must decide whether to pay a cash dividend in April 1974. Based on Consolidated Edison by G.C. Lodge. View Details

Keywords: Valuation; Decision Choices and Conditions; Financing and Loans; Energy Industry

spring 1974
Article

The Optimality of a Competitive Stock Market

By: Robert C. Merton and Marti G. Subrahmanyam

Keywords: Competition; Stocks; Markets