FIN 423/523 - Spring 2013
Thursdays 1:00 - 4:00 p.m.
S107
Discussion Assignments
Date Paper Name*
Mar. 28, 2013 Lowry, Michelle and G. William Schwert, “IPO Market Cycles: Bubbles or Sequential Learning?” Journal of Finance, 57 (June 2002) 1171-1200 Bill Schwert
Mar. 28, 2013 Lowry, Michelle and G. William Schwert, “Is the IPO Pricing Process Efficient?” Journal of Financial Economics, 71 (January 2004) 3-26 Bill Schwert
Apr. 04, 2013 Lowry, Michelle Micah S. Officer, and G. William Schwert, “The Variability of IPO Initial Returns,” Journal of Finance, 65 (April 2010) 425–465 Bill Schwert
Apr. 04, 2013 Gao, Xiaohui, Jay R. Ritter, and Zhongyan Zhu, "Where Have All the IPOs Gone?" Mihail Velikov
Apr. 11, 2013 Asquith, Paul and David W. Mullins, Jr., “Equity Issues and Offering Dilution,” Journal of Financial Economics, 15 (January 1986) 61-89. Bill Schwert
Apr. 11, 2013 Henry, Tyler R., and Jennifer L. Koski, “Short Selling Around Seasoned Equity Offerings,” Review of Financial Studies, 23 (2010) 4389-4418. Anisha Barbora
Apr. 18, 2013 Billett, Matthew T., Ioannis V. Floros, and Jon A. Garfinkel, “At The Market (ATM) Offerings,” 2012. Matt Gustafson
Apr. 18, 2013 Masulis, Ronald W., “The Effects of Capital Structure Change on Security Prices: A Study of Exchange Offers,” Journal of Financial Economics, 8 (June 1980) 139-177. Bill Schwert
Apr. 18, 2013 Brown, Stephen J., Bruce D. Grundy, Craig M. Lewis, and Patrick Verwijmeren, “Convertibles and Hedge Funds as Distributors of Equity Exposure," Review of Financial Studies, 25 (2012) 3077-3112. Arnaud Cave
Apr. 18, 2013 Dann, Larry Y., “Common Stock Repurchases: An Analysis of Returns to Bondholders and Stockholders,” Journal of Financial Economics, 9 (June 1981) 113-138. Bill Schwert
Apr. 25, 2013 Comment, Robert and Gregg A. Jarrell, “The Relative Signaling Power of Dutch-Auction and Fixed Price Self-Tender Offers and Open-Market Share Repurchases,” Journal of Finance, 46 (September 1991) 1243-1271.  Bill Schwert
Apr. 25, 2013 Hong, Harrison, Jiang Wang, Jialin Yu, “Firms as buyers of last resort,“ Journal of Financial Economics, 88 ( April 2008) 119-145.  Jordan Moore
Apr. 25, 2013 Guay, Wayne and Harford, Jarrad, “The Cash-flow Permanence and Information Content of Dividend Increases versus Repurchases,” Journal of Financial Economics, 57 (September 2000) 385-415. Anil Rao
Apr. 25, 2013 Schwert, G. William, “Markup Pricing in Mergers and Acquisitions,” Journal of Financial Economics, 41 (June 1996) 153-192. Bill Schwert
May. 02, 2013 Schwert, G. William, “Markup Pricing in Mergers and Acquisitions,” Journal of Financial Economics, 41 (June 1996) 153-192. Bill Schwert
May. 02, 2013 Heitzman, Shane and Sandy Klasa, “Private information arrival, trading activity, and price formation: Evidence from nonpublic merger negotiations” Shane Heitzman
May. 02, 2013 Moeller, Sara B., Frederik P. Schlingemann and René M. Stulz, “Firm Size and the Gains from Acquisitions” Journal of Financial Economics, 73 (August 2004) 201-228 Anh Tran
May. 02, 2013 Maksimovic, Vojislav, Gordon Phillips, N.R. Prabhala, “Post-merger restructuring and the boundaries of the firm,“ Journal of Financial Economics, 102 (November 2011) 317-343. Maxim Sokolov 
May. 09, 2013 Safieddine, Assem and Sheridan Titman, “Leverage and Corporate Performance: Evidence from Unsuccessful Takeovers,” Journal of Finance, 54 (April 1999) 547-580. Jacquelyn Gillette
May. 09, 2013 Ahern, Kenneth R., “Bargaining power and industry dependence in mergers,“ Journal of Financial Economics, 103 ( March 2012) 530-550 Xuemeng Qi, Xin Qiao, Zhongyi Wang, Shenjie Xu, and Yi Zhu
May. 09, 2013 John, Kose, Anzhela Knyazeva, and Diana Knyazeva, "Employee Rights and Acquisitions"  Anzhela and Diana Knyazeva
May. 09, 2013 Comment, Robert and G. William Schwert, “Poison or Placebo?  Evidence on the Deterrence and Wealth Effects of Modern Antitakeover Measures,” Journal of Financial Economics, 39 (September 1995) 3-43. Bill Schwert
May. 16, 2013 Mitchell, Mark L. and Jeffry M. Netter, “Triggering the 1987 Stock Market Crash:  Antitakeover Provisions in the Proposed House Ways and Means Tax Bill,” Journal of Financial Economics, 24 (September 1989) 37-68. Candace Jens
May. 16, 2013 Bharath, Sreedhar T., and Amy K. Dittmar, “Why Do Firms Use Private Equity to Opt Out of Public Markets?” Review of Financial Studies, 23 (2010) 1771-1818 Mike Lu, Kanchan Jain, and Robert Graham
May. 16, 2013 Officer, Micah S., Oguzhan Ozbas, Berk A. Sensoy, “Club deals in leveraged buyouts,” Journal of Financial Economics, 98 (November 2010) 214-240 Justin Vitanza
May. 24, 2013 Duchin, Ran, Breno Schmidt, “Riding the merger wave: Uncertainty, reduced monitoring, and bad acquisitions,” Journal of Financial Economics, 107 (January 2013) 69-88 Arash O.E.Vesaghi
May. 24, 2013 Muscarella, Chris J. and Michael R. Vetsuypens, “Efficiency and Organizational Structure:  A Study of Reverse LBOs,” Journal of Finance, 45 (December 1990) 1389-1413 Bill Schwert
May. 24, 2013 DeAngelo, Harry and Linda DeAngelo, "Proxy Contests and the Governance of Publicly Held Corporations," Journal of Financial Economics, 23 (June 1989) 29-59. Bill Schwert
May. 24, 2013 DeAngelo, Harry and Linda DeAngelo, “Managerial Ownership of Voting Rights:  A Study of Public Corporations with Dual Classes of Common Stock,” Journal of Financial Economics, 14 (March 1985) 33-69. Bill Schwert
*NOTE:  Please email your paper to schwert@schwert.ssb.rochester.edu at least one week before your presentation.   Your slides or handouts, if any, will be posted on this website. 
Last updated: 5/20/2013