Matthew T. Billett

Indiana University - Kelley School of Business - Department of Finance

Professor and Jacobs Chair in Finance

1309 E. 10th St.

Bloomington, IN 47405

United States

SCHOLARLY PAPERS

33

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14,849

CITATIONS
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Top 2,848

in Total Papers Citations

196

Scholarly Papers (33)

1.

Diversification and the Value of Internal Capital Markets: The Case of Tracking Stock

Number of pages: 38 Posted: 05 Nov 1998
Matthew T. Billett and David C. Mauer
Indiana University - Kelley School of Business - Department of Finance and affiliation not provided to SSRN
Downloads 1,485 (11,386)
Citation 17

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2.

Bondholder Wealth Effects in Mergers and Acquisitions: New Evidence from the 1980s and 1990s

University of Iowa Working Paper
Number of pages: 51 Posted: 15 Apr 2002
Matthew T. Billett, Dolly King and David C. Mauer
Indiana University - Kelley School of Business - Department of Finance, University of Wisconsin - Milwaukee - Sheldon B. Lubar School of Business and affiliation not provided to SSRN
Downloads 1,189 (16,142)
Citation 55

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Mergers, Acquisitions, Takeovers, Corporate Control, Bonds, Wealth Effects

3.

Shareholder-Manager Alignment and the Cost of Debt

Number of pages: 36 Posted: 23 Jan 2007 Last Revised: 02 Jun 2015
Matthew T. Billett, Paul Hribar and Yixin Liu
Indiana University - Kelley School of Business - Department of Finance, University of Iowa - Henry B. Tippie College of Business and University of New Hampshire
Downloads 920 (23,639)
Citation 6

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dual-class, cost of debt, agency costs, managerial ownership, shareholder-manager alignment

4.

Cross Subsidies, External Financing Constraints, and the Contribution of the Internal Capital Market to Firm Value

Number of pages: 43 Posted: 25 Oct 1998
Matthew T. Billett and David C. Mauer
Indiana University - Kelley School of Business - Department of Finance and affiliation not provided to SSRN
Downloads 920 (23,639)
Citation 36

Abstract:

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Are Overconfident CEOs Born or Made? Evidence of Self-Attribution Bias from Frequent Acquirers

Management Science, Forthcoming
Number of pages: 34 Posted: 07 Jun 2005 Last Revised: 12 May 2014
Matthew T. Billett and Yiming Qian
Indiana University - Kelley School of Business - Department of Finance and University of Iowa - Department of Finance
Downloads 915 (23,432)
Citation 23

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overconfidence, hubris, self-attribution, frequent acquirer, mergers and acquisitions, insider trading

Are Overconfident CEOS Born or Made? Evidence of Self-Attribution Bias from Frequent Acquirers

Management Science, Forthcoming
Posted: 14 Jan 2008 Last Revised: 16 Dec 2015
Matthew T. Billett and Yiming Qian
Indiana University - Kelley School of Business - Department of Finance and University of Iowa - Department of Finance

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overconfidence, hubris, self-attribution, frequent acquirer, mergers and acquisitions

Are Bank Loans Special? Evidence on the Post-Announcement Performance of Bank Borrowers.

AFA 2002 Atlanta Meetings
Number of pages: 41 Posted: 16 Aug 2001
Matthew T. Billett, Mark J. Flannery and Jon A. Garfinkel
Indiana University - Kelley School of Business - Department of Finance, University of Florida - Department of Finance, Insurance and Real Estate and University of Iowa - Tippie College of Business
Downloads 850 (26,108)
Citation 27

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Bank Loans, Long-run Performance

Are Bank Loans Special? Evidence on the Post-Announcement Performance of Bank Borrowers

Journal of Financial and Quantitative Analysis, Forthcoming
Posted: 24 Jun 2005
Matthew T. Billett, Mark J. Flannery and Jon A. Garfinkel
Indiana University - Kelley School of Business - Department of Finance, University of Florida - Department of Finance, Insurance and Real Estate and University of Iowa - Tippie College of Business

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Bank Loans, Long-run Performance

7.

The Market Performance of Tracking Stocks

Number of pages: 43 Posted: 27 Jun 2000
Anand M. Vijh and Matthew T. Billett
University of Iowa - Department of Finance and Indiana University - Kelley School of Business - Department of Finance
Downloads 838 (27,079)
Citation 1

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8.

Share Repurchases and the Need for External Finance

Number of pages: 35 Posted: 08 May 2003
Matthew T. Billett and Hui Frank Xue
Indiana University - Kelley School of Business - Department of Finance and Kansas State University (Deceased)
Downloads 776 (30,249)
Citation 1

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Share repurchase, seasoned equity offer, SEO

9.

The Role of Bondholder Wealth Expropriation in LBO Transactions

Number of pages: 33 Posted: 27 Mar 2008
Matthew T. Billett, Zhan Jiang and Erik Lie
Indiana University - Kelley School of Business - Department of Finance, Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF) and University of Iowa - Henry B. Tippie College of Business
Downloads 584 (44,233)
Citation 2

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Leveraged buyouts, bondholder expropriation, change-in-control covenants

10.

Glamour Brands and Glamour Stocks

AFA 2011 Denver Meetings Paper
Number of pages: 45 Posted: 17 Mar 2010 Last Revised: 13 May 2014
Matthew T. Billett, Zhan Jiang and Lopo Rego
Indiana University - Kelley School of Business - Department of Finance, Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF) and Indiana University - Kelley School of Business - Department of Marketing
Downloads 569 (45,612)
Citation 1

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Glamour, Brand equity, HML factor

11.

Frequent Issuers' Influence on Long-Run Post-Issuance Returns

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 40 Posted: 18 Mar 2006 Last Revised: 12 May 2014
Matthew T. Billett, Mark J. Flannery and Jon A. Garfinkel
Indiana University - Kelley School of Business - Department of Finance, University of Florida - Department of Finance, Insurance and Real Estate and University of Iowa - Tippie College of Business
Downloads 533 (49,539)
Citation 9

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External Finance, Security Issuance, Long-run Performance

12.

The Effect of Asymmetric Information on Product Market Outcomes

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 51 Posted: 19 Sep 2011 Last Revised: 27 Apr 2016
Matthew T. Billett, Jon A. Garfinkel and Miaomiao Yu
Indiana University - Kelley School of Business - Department of Finance, University of Iowa - Tippie College of Business and Louisiana State University, Baton Rouge - E.J. Ourso College of Business Administration
Downloads 485 (55,998)

Abstract:

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asymmetric information, market share

13.

Segmented Capital Markets and the Cost of External Finance

Number of pages: 35 Posted: 26 Apr 2000
Matthew T. Billett and Jon A. Garfinkel
Indiana University - Kelley School of Business - Department of Finance and University of Iowa - Tippie College of Business
Downloads 468 (58,409)
Citation 1

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Segmented markets, External finance, Financial slack, Capital structure

14.

Bank Skin in the Game and Loan Contract Design: Evidence from Covenant-Lite Loans

Number of pages: 70 Posted: 03 Nov 2012 Last Revised: 12 May 2014
Indiana University - Kelley School of Business - Department of Finance, University of Toronto - Rotman School of Management, University of Virginia and Sungkyunkwan University (SKK) Graduate School of Business
Downloads 464 (59,022)
Citation 1

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Covenants, Debt contracting, Syndicated Loans, Bank loans, Agency Costs

15.

The Influence of Governance on Investment: Evidence from a Hazard Model

Journal of Financial Economics (JFE), Vol. 102, No. 3, 2011
Number of pages: 62 Posted: 20 Aug 2009 Last Revised: 12 May 2014
Matthew T. Billett, Jon A. Garfinkel and Yi Jiang
Indiana University - Kelley School of Business - Department of Finance, University of Iowa - Tippie College of Business and California State University, Fullerton
Downloads 464 (59,022)
Citation 3

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Corporate Governance, Investment Spike, Hazard Model

16.

Stockholder and Bondholder Wealth Effects of CEO Incentive Grants

Number of pages: 34 Posted: 18 Aug 2006
Matthew T. Billett, David C. Mauer and Yilei Zhang
Indiana University - Kelley School of Business - Department of Finance, affiliation not provided to SSRN and University of North Carolina (UNC) at Charlotte
Downloads 418 (66,987)
Citation 11

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Equity-based compensation, options, restricted stock, CEO incentives

17.

At-the-Market (ATM) Offerings

Forthcoming in the Journal of Financial and Quantitative Analysis
Number of pages: 55 Posted: 19 Nov 2012 Last Revised: 21 Jan 2018
Matthew T. Billett, Ioannis V. Floros and Jon A. Garfinkel
Indiana University - Kelley School of Business - Department of Finance, University of Wisconsin - Milwaukee - Department of Finance and University of Iowa - Tippie College of Business
Downloads 399 (70,792)

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At-the-market offering; ATM; seasoned equity offering; equity issuance; certification

18.

Asymmetric Information, Financial Reporting, and Open Market Share Repurchases

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming, Kelley School of Business Research Paper No. 15-20
Number of pages: 52 Posted: 15 Mar 2011 Last Revised: 13 Feb 2015
Matthew T. Billett and Miaomiao Yu
Indiana University - Kelley School of Business - Department of Finance and Louisiana State University, Baton Rouge - E.J. Ourso College of Business Administration
Downloads 397 (71,205)
Citation 1

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Payout, Share repurchases, Asymmetric information, Accruals quality

19.

Bond Tender Offers in Mergers and Acquisitions

Journal of Corporate Finance, Forthcoming
Number of pages: 34 Posted: 15 Mar 2011 Last Revised: 03 Aug 2016
Matthew T. Billett and Ke Yang
Indiana University - Kelley School of Business - Department of Finance and Lehigh University
Downloads 331 (87,945)

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Mergers; Acquisitions; Bond tender offers; Coinsurance; Covenants

20.

Information Spillovers and Cross Monitoring between the Stock Market and Loan Market

Kelley School of Business Research Paper No. 16-20
Number of pages: 66 Posted: 17 Feb 2016 Last Revised: 23 Mar 2019
Matthew T. Billett, Fangzhou Liu and Xuan Tian
Indiana University - Kelley School of Business - Department of Finance, Shanghai University of Finance and Economics - Department of Finance and Tsinghua University - PBC School of Finance
Downloads 322 (90,697)

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short selling constraints, Regulation SHO, information spillover, cross monitoring, information monopoly, bank loan

21.

Bank Loan Price Reactions to Corporate Events: Evidence from Traded Syndicated Loans

Kelley School of Business Research Paper No. 15-14
Number of pages: 49 Posted: 17 Jan 2015
Indiana University - Kelley School of Business - Department of Finance, University of Toronto - Rotman School of Management, University of North Carolina (UNC) at Charlotte and Sungkyunkwan University (SKK) Graduate School of Business
Downloads 275 (107,527)

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Loan returns, Bank contracts, Wealth transfers, Share repurchases, SEOs

22.

Creditor Control and Product-Market Competition

Journal of Banking and Finance, Forthcoming
Number of pages: 50 Posted: 07 Aug 2013 Last Revised: 03 Jul 2017
Matthew T. Billett, Burcu Esmer and Miaomiao Yu
Indiana University - Kelley School of Business - Department of Finance, University of Pennsylvania - The Wharton School and Louisiana State University, Baton Rouge - E.J. Ourso College of Business Administration
Downloads 274 (107,988)

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Debt covenants, Covenant violations, Creditor control, Rivals, Product market competition

23.

Does Incremental Other Comprehensive Income (OCI) Volatility Affect the Cost of Debt, Capital Structure and Credit Ratings?

Number of pages: 51 Posted: 24 Mar 2017 Last Revised: 02 Feb 2018
May Xiaoyan Bao, Matthew T. Billett, David B. Smith and Emre Unlu
University of New Hampshire - Peter T. Paul College of Business and Economics, Indiana University - Kelley School of Business - Department of Finance, University of Nebraska at Lincoln - School of Accountancy and University of Nebraska at Lincoln
Downloads 250 (119,283)

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Incremental OCI volatility, Risk Relevance, Capital Structure, Debt Contracting

24.

The Capital Supply Channel in SEO Peer Effects

Kelley School of Business Research Paper No. 16-38
Number of pages: 63 Posted: 03 May 2016 Last Revised: 31 Oct 2018
Matthew T. Billett, Jon A. Garfinkel and Yi Jiang
Indiana University - Kelley School of Business - Department of Finance, University of Iowa - Tippie College of Business and California State University, Fullerton
Downloads 209 (141,638)

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Peer Effects, Capital Supply, Financial Intermediaries, SEOs, Hazards, Competition

25.

JOBS Act Spillover Effects in the Syndicated Loan Market

Kelley School of Business Research Paper No. 17-14
Number of pages: 46 Posted: 09 Feb 2017 Last Revised: 12 Feb 2019
Matthew T. Billett, Chiyoung Cheong and Sudip Gupta
Indiana University - Kelley School of Business - Department of Finance, Indiana University - Kelley School of Business - Department of Finance and Fordham University - Finance Area
Downloads 185 (158,524)

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JOBS Act, Syndicated Lending, Initial Public Offering, Loan, Bank Relationship

26.

The Influence of Investor Identity and Contract Terms on Firm Value: Evidence from PIPEs

Journal of Financial Intermediation, Forthcoming
Number of pages: 46 Posted: 14 Mar 2011 Last Revised: 22 Jan 2015
Matthew T. Billett, Redouane Elkamhi and Ioannis V. Floros
Indiana University - Kelley School of Business - Department of Finance, University of Toronto - Rotman School of Management and University of Wisconsin - Milwaukee - Department of Finance
Downloads 174 (167,463)
Citation 1

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PIPE, private placement, investor identity, contract terms, financial contracting

27.

Customer-Supplier Relationships and Abnormal Accruals

Kelley School of Business Research Paper No. 17-36
Number of pages: 42 Posted: 26 Apr 2017 Last Revised: 15 Nov 2018
May Xiaoyan Bao, Matthew T. Billett and Yixin Liu
University of New Hampshire - Peter T. Paul College of Business and Economics, Indiana University - Kelley School of Business - Department of Finance and University of New Hampshire
Downloads 155 (184,966)

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Abnormal accruals; bullwhip effects; suppliers; customers.

28.

Clarity Begins at Home: Internal Information Asymmetry and External Communication Quality

The Accounting Review, Forthcoming
Posted: 24 Jun 2015 Last Revised: 05 May 2017
Monash University - Department of Accounting, Washington University in Saint Louis - Olin School of Business, Boston College, The University of Hong Kong and Indiana University - Kelley School of Business - Department of Finance

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Internal information asymmetry, management forecasts, accounting restatements

29.

The Takeover Deterrent Effect of Open Market Share Repurchases

Journal of Finance, Forthcoming
Posted: 12 Jan 2007
Matthew T. Billett and Hui Frank Xue
Indiana University - Kelley School of Business - Department of Finance and Kansas State University (Deceased)

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30.

The Wealth Effects of Tracking Stock Restructurings

Journal of Financial Research, Forthcoming
Posted: 14 Mar 2004
Anand M. Vijh and Matthew T. Billett
University of Iowa - Department of Finance and Indiana University - Kelley School of Business - Department of Finance

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Tracking stock, corporate restructuring

31.

Targeting Capital Structure: The Relationship between Risky Debt and the Firm's Likelihood of Being Acquired

J. OF BUSINESS, Vol. 69 No. 2, April 1996
Posted: 28 Jun 1998
Matthew T. Billett
Indiana University - Kelley School of Business - Department of Finance

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32.

The Cost of Market Versus Regulatory Discipline in Banking

The Journal of Financial Economics, June 1998
Posted: 22 Apr 1998
Matthew T. Billett, Jon A. Garfinkel and Edward S. O'Neal
Indiana University - Kelley School of Business - Department of Finance, University of Iowa - Tippie College of Business and Wake Forest University - Babcock Graduate School of Management

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The Effect of Lender Identity on a Borrowing Firm's Equity Return

JOURNAL OF FINANCE, Vol 50 No 2, June 1995
Posted: 10 May 1995
Matthew T. Billett, Mark J. Flannery and Jon A. Garfinkel
Indiana University - Kelley School of Business - Department of Finance, University of Florida - Department of Finance, Insurance and Real Estate and University of Iowa - Tippie College of Business

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The Effect of Lender Identity on a Borrowing Firm's Equity Return

Posted: 16 May 1994
Matthew T. Billett, Mark J. Flannery and Jon A. Garfinkel
Indiana University - Kelley School of Business - Department of Finance, University of Florida - Department of Finance, Insurance and Real Estate and University of Iowa - Tippie College of Business

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