Clifford W. Smith

Simon Graduate School of Business, University of Rochester

Louise and Henry Epstein Professor of Business Administration

Carol Simon Hall 3-202C

Rochester, NY 14627

United States

  • Simon Graduate School of Business, University of Rochester

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SCHOLARLY PAPERS

33

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Scholarly Papers (33)

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1.

Stockholder, Manager, and Creditor Interests: Applications of Agency Theory

Theory of the Firm (Book), Vol. 1, No. 1, 2000
Number of pages: 46 Posted: 11 Oct 2000 Last Revised: 26 Feb 2013
Michael C. Jensen and Clifford W. Smith
Harvard Business School and Simon Graduate School of Business, University of Rochester
Downloads 14,055 (324)
Citation 44

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agency theory, conflicts of interest, residual claims, bond contracts, lease contracts, insurance contracts, claimholders, stockholders

2.

The Theory of Corporate Finance: A Historical Overview

Michael C. Jensen, Clifford W. Smith, Jr., THE MODERN THEORY OF CORPORATE FINANCE, New York: McGraw-Hill Inc., pp. 2-20, 1984
Number of pages: 30 Posted: 29 Sep 2000
Michael C. Jensen and Clifford W. Smith
Harvard Business School and Simon Graduate School of Business, University of Rochester
Downloads 12,790 (391)
Citation 7

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3.

Business Ethics and Organizational Architecture

Number of pages: 25 Posted: 12 Dec 2000
James A. Brickley, Clifford W. Smith and Jerold L. Zimmerman
University of Rochester - Simon Business School, Simon Graduate School of Business, University of Rochester and University of Rochester - Simon Business School
Downloads 2,214 (8,309)
Citation 7

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4.

Corporate Governance, Ethics, and Organizational Architecture

Number of pages: 12 Posted: 18 Dec 2003
James A. Brickley and Clifford W. Smith
University of Rochester - Simon Business School and Simon Graduate School of Business, University of Rochester
Downloads 1,906 (10,616)
Citation 2
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5.

Editorial: Clinical Papers and Their Role in the Development of Financial Economics

Number of pages: 4 Posted: 28 Nov 2003
Eugene F. Fama, Michael C. Jensen, John B. Long, Richard S. Ruback, G. William Schwert, Clifford W. Smith and Jerold B. Warner
University of Chicago - Finance, Harvard Business School, Simon Graduate School of Business, University of Rochester, Harvard Business School, University of Rochester - Simon Business School, Simon Graduate School of Business, University of Rochester and University of Rochester – Simon Business School
Downloads 1,841 (11,220)
Citation 8

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Clinical Papers, case studies, perfect and imperfect markets

6.

On the Debt Capacity of Growth Options

Number of pages: 31 Posted: 06 Sep 2001
Michael J. Barclay, Erwan Morellec and Clifford W. Smith
University of Rochester - Simon School (Deceased), Ecole Polytechnique Fédérale de Lausanne and Simon Graduate School of Business, University of Rochester
Downloads 1,654 (13,322)
Citation 48

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Growth Options, Book Leverage

7.

Agency Conflicts and Risk Management

Simon School, University of Rochester, Research Paper Series, Forthcoming
Number of pages: 30 Posted: 30 Aug 2001
Erwan Morellec and Clifford W. Smith
Ecole Polytechnique Fédérale de Lausanne and Simon Graduate School of Business, University of Rochester
Downloads 1,279 (19,778)
Citation 12

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Debt Financing, Hedging, Contingent Claims Analysis

8.

Boundaries of the Firm: Evidence from the Banking Industry

Simon School of Business Working Paper No. FR 00-01, Journal of Financial Economics (JFE), Vol. 70, No. 3, 2003
Number of pages: 51 Posted: 11 Feb 2000 Last Revised: 04 Mar 2018
James A. Brickley, James S. Linck and Clifford W. Smith
University of Rochester - Simon Business School, Southern Methodist University (SMU) - Finance Department and Simon Graduate School of Business, University of Rochester
Downloads 1,129 (23,821)
Citation 15

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Boundaries of the firm, banking, economics of organizations, ownership incentives; agency theory; decision authority; locational decisions; Riegle-Neal Act; community banks, interstate branching

9.

Investment Policy, Financial Policies and the Market for Corporate Control

Number of pages: 37 Posted: 30 Aug 2001
Erwan Morellec and Clifford W. Smith
Ecole Polytechnique Fédérale de Lausanne and Simon Graduate School of Business, University of Rochester
Downloads 951 (30,502)
Citation 1

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Financial Policies, Investment Policy, Market for Corporate Control

10.

Investment Policy, Financial Policies, and the Control of Agency Conflicts

Number of pages: 38 Posted: 12 Sep 2002
Erwan Morellec and Clifford W. Smith
Ecole Polytechnique Fédérale de Lausanne and Simon Graduate School of Business, University of Rochester
Downloads 806 (38,340)
Citation 16

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Investment Policy, Financing Policy, Risk Management

11.

The Joint Determination of Leverage and Maturity

Simon Graduate School Working Paper No. FR 01-20
Number of pages: 29 Posted: 12 Nov 2001
Michael J. Barclay, Leslie M. Marx and Clifford W. Smith
University of Rochester - Simon School (Deceased), Duke University - Fuqua School of Business, Economics Group and Simon Graduate School of Business, University of Rochester
Downloads 728 (44,090)
Citation 45

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12.

Rational Financial Management: Evidence from Seasoned Equity Offerings

AFA 2010 Atlanta Meetings Paper
Number of pages: 41 Posted: 19 Mar 2008 Last Revised: 15 Feb 2014
Michael J. Barclay, Fangjian Fu and Clifford W. Smith
University of Rochester - Simon School (Deceased), Singapore Management University - Lee Kong Chian School of Business and Simon Graduate School of Business, University of Rochester
Downloads 615 (55,107)
Citation 6

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Capital Structure, Seasoned Equity Offerings, Tradeoff, Pecking-order, Market-timing

13.

Debt and Taxes: Evidence from the Real Estate Industry

Simon School Working Paper No. FR 12-08
Number of pages: 48 Posted: 07 Apr 2012
Michael Barclay, Shane Heitzman and Clifford W. Smith
Deceased, University of Southern California - Marshall School of Business and Simon Graduate School of Business, University of Rochester
Downloads 295 (130,257)
Citation 5

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Capital structure, taxes, marginal tax rates, organizational form

14.

Ownership Structure and Control: Property-Casualty Insurer Conversion to Stock Charter

Downloads 276 (139,601)

Ownership Structure and Control: Property-Casualty Insurer Conversion to Stock Charter

Number of pages: 42 Posted: 28 Nov 2000
David Mayers and Clifford W. Smith
University of California, Riverside (UCR) - A. Gary Anderson Graduate School of Management and Simon Graduate School of Business, University of Rochester
Downloads 276 (138,921)
Citation 4

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Ownership Structure and Control: Property-Casualty Insurer Conversion to Stock Charter

Posted: 02 Apr 2003
David Mayers and Clifford W. Smith
University of California, Riverside (UCR) - A. Gary Anderson Graduate School of Management and Simon Graduate School of Business, University of Rochester

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Insurance, ownership structure, charter conversion

15.

Mechanisms of Board Turnover: Evidence from Backdating

Downloads 237 (162,435)
Citation 2

Mechanisms of Board Turnover: Evidence from Backdating

Number of pages: 37 Posted: 11 Aug 2011 Last Revised: 10 Oct 2014
Frederick L. Bereskin and Clifford W. Smith
University of Missouri and Simon Graduate School of Business, University of Rochester
Downloads 237 (161,954)
Citation 1

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Mechanisms of Board Turnover: Evidence from Backdating

Journal of Applied Corporate Finance, Vol. 26, Issue 2, pp. 65-78, 2014
Number of pages: 16 Posted: 09 Jul 2014
Frederick L. Bereskin and Clifford W. Smith
University of Missouri and Simon Graduate School of Business, University of Rochester
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16.

Vertical Integration to Avoid Contracting with Potential Competitors: Evidence from Bankers’ Banks

Journal of Financial Economics (JFE), No. 105, 2012
Number of pages: 49 Posted: 20 May 2010 Last Revised: 04 Mar 2018
James A. Brickley, James S. Linck and Clifford W. Smith
University of Rochester - Simon Business School, Southern Methodist University (SMU) - Finance Department and Simon Graduate School of Business, University of Rochester
Downloads 212 (180,592)

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Boundaries of the firm, Banking; Economics of organizations, Ownership incentives, Agency theory, Decision authority, Location decisions, Riegle-Neal Act, Community banks, Interstate branching

17.

Incentives for Managing Accounting Information: Property-Liability Insurer Stock-Charter Conversions

Downloads 29 (581,253)

Incentives for Managing Accounting Information: Property-Liability Insurer Stock-Charter Conversions

Number of pages: 39 Posted: 06 Jul 2004
David Mayers and Clifford W. Smith
University of California, Riverside (UCR) - A. Gary Anderson Graduate School of Management and Simon Graduate School of Business, University of Rochester
Downloads 29 (596,884)
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Incentives for Managing Accounting Information: Property- Liability Insurer Stock-Charter Conversions

Posted: 09 Sep 1997
David Mayers and Clifford W. Smith
University of California, Riverside (UCR) - A. Gary Anderson Graduate School of Management and Simon Graduate School of Business, University of Rochester

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18.

Using Organizational Architecture to Lead Change

Journal of Applied Corporate Finance, Vol. 21, No. 2, pp. 58-66, Spring 2009
Number of pages: 11 Posted: 04 Jul 2009
James A. Brickley, Clifford W. Smith and Jerold L. Zimmerman
University of Rochester - Simon Business School, Simon Graduate School of Business, University of Rochester and University of Rochester - Simon Business School
Downloads 4 (763,495)
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19.

Leverage and Taxes: Evidence from the Real Estate Industry

Journal of Applied Corporate Finance, Vol. 29, Issue 4, pp. 86-95, 2017
Number of pages: 12 Posted: 21 Feb 2018
Michael Barclay, Shane Heitzman and Clifford W. Smith
Deceased, University of Southern California - Marshall School of Business and Simon Graduate School of Business, University of Rochester
Downloads 1 (792,075)
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20.

Bloomberg Intelligence Roundtable on the Theory and Practice of Capital Structure Management

Journal of Applied Corporate Finance, Vol. 29, Issue 4, pp. 72-85, 2017
Number of pages: 16 Posted: 21 Feb 2018
Clifford W. Smith, Gregory V. Milano, Joel Levington, Asthika Goonewardene, Gina Martin Adams, Michael K. Holland, Jonathan Palmer and Don Chew
Simon Graduate School of Business, University of Rochester, Fortuna Advisors LLC, Bloomberg L.P., Bloomberg L.P., Bloomberg L.P., Holland & Company, Bloomberg L.P. and Journal of Applied Corporate Finance
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21.

The Investment Opportunity Set and Corporate Financing, Dividend, and Compensation Policies

Journal of Financial Economics, Vol. 32, 1992
Posted: 06 Sep 2006
Clifford W. Smith and Ross L. Watts
Simon Graduate School of Business, University of Rochester and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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Investment opportunity set, financing policy, dividend policy, compensation policy

22.

Agency Problems and the Corporate Charter

The Journal of Law, Economics, and Organization, Vol. 21, No. 2, pp. 417-440, 2005
Posted: 12 Jul 2005
David Mayers and Clifford W. Smith
University of California, Riverside (UCR) - A. Gary Anderson Graduate School of Management and Simon Graduate School of Business, University of Rochester

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23.

Organizational Architecture and Corporate Finance

Posted: 14 May 2001
Clifford W. Smith
Simon Graduate School of Business, University of Rochester

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24.

The Maturity Structure of Corporate Debt

Posted: 03 May 2000
Michael J. Barclay and Clifford W. Smith
University of Rochester - Simon School (Deceased) and Simon Graduate School of Business, University of Rochester

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25.

Corporate Risk Management: Theory and Practice

JOURNAL OF DERIVATIVES, Vol 2 No. 4
Posted: 10 Oct 1998
Clifford W. Smith
Simon Graduate School of Business, University of Rochester

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26.

Controlling Risks in Derivatives Markets

JOURNAL OF FINANCIAL ENGINEERING, Vol 4 No 2, June 1995
Posted: 25 Aug 1998
Ludger Hentschel and Clifford W. Smith
Alternative Risk Premia Investments and Simon Graduate School of Business, University of Rochester

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27.

Guaranty Funds and Risktaking: Evidence from the Insurance Industry

Working Paper FR 95-07
Posted: 28 Jun 1998
Soon-Jae Lee, David Mayers and Clifford W. Smith
Samsung Fire & Marine Insurance Co., Ltd., University of California, Riverside (UCR) - A. Gary Anderson Graduate School of Management and Simon Graduate School of Business, University of Rochester

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28.

Risks in Derivatives Markets

WFIC 96-24
Posted: 16 Jun 1998
Ludger Hentschel and Clifford W. Smith
Alternative Risk Premia Investments and Simon Graduate School of Business, University of Rochester

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29.

On the Choice of Insurance Distribution Systems

J. OF RISK AND INSURANCE, Vol. 63 No. 2, June 1996
Posted: 19 May 1998
Won Joong Kim, Clifford W. Smith and David Mayers
Sungkyunkwan University, Simon Graduate School of Business, University of Rochester and University of California, Riverside (UCR) - A. Gary Anderson Graduate School of Management

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30.

Leverage and Maturity as Strategic Complements

Posted: 22 Apr 1998
Michael J. Barclay, Leslie M. Marx and Clifford W. Smith
University of Rochester - Simon School (Deceased), Duke University - Fuqua School of Business, Economics Group and Simon Graduate School of Business, University of Rochester

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31.

Risks in Derivatives Markets: Implications for the Insurance Industry

J. OF RISK AND INSURANCE, Vol. 64 No. 2, June 1997
Posted: 11 Sep 1997
Ludger Hentschel and Clifford W. Smith
Alternative Risk Premia Investments and Simon Graduate School of Business, University of Rochester

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32.

Tax Incentives to Hedge

Posted: 02 Sep 1997
John R. Graham and Clifford W. Smith
Duke University and Simon Graduate School of Business, University of Rochester

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33.

Board Composition and Corporate Control: Evidence from the Insurance Industry

J. OF BUSINESS, Vol. 70 No. 1, January 1997
Posted: 28 Oct 1996
David Mayers, Anil Shivdasani and Clifford W. Smith
University of California, Riverside (UCR) - A. Gary Anderson Graduate School of Management, University of North Carolina Kenan-Flagler Business School and Simon Graduate School of Business, University of Rochester

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