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

32

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CITATIONS
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195

Scholarly Papers (32)

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 Edwin L. Cox School of Business
Downloads 1,427 (9,294)
Citation 17

Abstract:

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 Edwin L. Cox School of Business
Downloads 1,118 (13,477)
Citation 54

Abstract:

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

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 868 (20,424)
Citation 23

Abstract:

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

Abstract:

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

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 Edwin L. Cox School of Business
Downloads 850 (20,289)
Citation 36

Abstract:

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 839 (21,471)
Citation 27

Abstract:

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

Abstract:

Bank Loans, Long-run Performance

6.

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 801 (22,471)
Citation 1

Abstract:

7.

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 679 (25,929)
Citation 1

Abstract:

Share repurchase, seasoned equity offer, SEO

8.

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 620 (24,474)
Citation 6

Abstract:

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

9.

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 500 (42,049)
Citation 9

Abstract:

External Finance, Security Issuance, Long-run Performance

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 488 (41,747)
Citation 1

Abstract:

Glamour, Brand equity, HML factor

11.

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 468 (45,145)
Citation 2

Abstract:

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

12.

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 421 (48,991)
Citation 1

Abstract:

Segmented markets, External finance, Financial slack, Capital structure

13.

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 University of Saskatchewan - Edwards School of Business
Downloads 413 (56,051)

Abstract:

asymmetric information, market share

14.

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 406 (51,467)
Citation 3

Abstract:

Corporate Governance, Investment Spike, Hazard Model

15.

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, Edwin L. Cox School of Business and University of North Carolina at Charlotte
Downloads 384 (56,734)
Citation 11

Abstract:

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

16.

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 290 (59,542)
Citation 1

Abstract:

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

17.

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 University of Saskatchewan - Edwards School of Business
Downloads 261 (65,001)
Citation 1

Abstract:

Payout, Share repurchases, Asymmetric information, Accruals quality

18.

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 195 (86,834)

Abstract:

Mergers; Acquisitions; Bond tender offers; Coinsurance; Covenants

19.

At-the-Market (ATM) Offerings

Kelley School of Business Research Paper No. 15-21
Number of pages: 56 Posted: 19 Nov 2012 Last Revised: 08 Jan 2017
Matthew T. Billett, Ioannis V. Floros and Jon A. Garfinkel
Indiana University - Kelley School of Business - Department of Finance, Iowa State University - Department of Finance and University of Iowa - Tippie College of Business
Downloads 172 (94,799)

Abstract:

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

20.

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 Iowa State University - Department of Finance
Downloads 157 (154,168)
Citation 1

Abstract:

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

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 at Charlotte and Sungkyunkwan University (SKK) Graduate School of Business
Downloads 134 (114,506)

Abstract:

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

22.

Creditor Control and Product-Market Competition

Number of pages: 49 Posted: 07 Aug 2013 Last Revised: 01 Jul 2016
Matthew T. Billett, Burcu Esmer and Miaomiao Yu
Indiana University - Kelley School of Business - Department of Finance, Indiana University - Kelley School of Business - Department of Finance and University of Saskatchewan - Edwards School of Business
Downloads 123 (119,424)

Abstract:

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

23.

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

Abstract:

Internal information asymmetry, management forecasts, accounting restatements

24.

Customer-Supplier Relationships and Abnormal Accruals

Kelley School of Business Research Paper No. 17-36
Number of pages: 34 Posted: 26 Apr 2017
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 0 (308,474)

Abstract:

Earnings Management, Accruals, Suppliers, Customers.

25.

JOBS Act Spillover Effects in the Syndicated Loan Market

Kelley School of Business Research Paper No. 17-14
Number of pages: 38 Posted: 09 Feb 2017
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 0 (298,148)

Abstract:

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

26.

Capital Supply, Financial Intermediaries, and Corporate Peer Effects

Kelley School of Business Research Paper No. 16-38
Number of pages: 67 Posted: 03 May 2016 Last Revised: 27 Feb 2017
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 0 (173,791)

Abstract:

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

27.

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

Kelley School of Business Research Paper No. 16-20
Number of pages: 45 Posted: 17 Feb 2016 Last Revised: 23 Jun 2016
Matthew T. Billett, Fangzhou Liu and Xuan Tian
Indiana University - Kelley School of Business - Department of Finance, Indiana University - Kelley School of Business and Tsinghua University - PBC School of Finance
Downloads 0 (121,685)

Abstract:

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

28.

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)

Abstract:

29.

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

Abstract:

Tracking stock, corporate restructuring

30.

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

Abstract:

31.

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

Abstract:

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

Abstract:

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

Abstract: