Richard L. Smith

University of California, Riverside - Anderson Graduate School of Management

Department Head, Finance and Managment Science

Riverside, CA 92521

United States

http://www.agsm.ucr.edu/

SCHOLARLY PAPERS

30

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109

Scholarly Papers (30)

1.

Opportunity Cost of Capital for Venture Capitalists and Entrepreneurs

EFMA 2001 Lugano Meetings
Number of pages: 52 Posted: 17 Jun 2001
Francis J. Kerins, Janet Kiholm Smith and Richard L. Smith
Montana State University - Bozeman - College of Business, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 1,185 (16,371)
Citation 16

Abstract:

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2.

Opportunity Cost of Capital for Venture Capital Investors and Entrepreneurs

Claremont Graduate University Working Paper
Number of pages: 56 Posted: 21 Apr 2003
Francis J. Kerins, Janet Kiholm Smith and Richard L. Smith
Montana State University - Bozeman - College of Business, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 1,150 (17,103)
Citation 14

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venture capital, cost of capital, diversification

3.

Insider Reputation and Selling Decisions: The Unwinding of Venture Capital Investments During Equity Ipos

Number of pages: 41 Posted: 01 Feb 1997
Timothy H. Lin and Richard L. Smith
National Chung Cheng University - Department of Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 1,112 (17,999)
Citation 36

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4.

How IPO Pricing Method Affects Underpricing and Issue Cost: Evidence on Japan's Change from Auction Method Pricing to Book-Building

Number of pages: 40 Posted: 14 Dec 2000
Richard L. Smith and Kenji Kutsuna
University of California, Riverside - Anderson Graduate School of Management and Osaka City University
Downloads 1,059 (19,359)
Citation 1

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5.

What's in Your 403(B)? Academic Retirement Plans and the Costs of Underdiversification

Number of pages: 36 Posted: 02 Jun 2005 Last Revised: 21 Oct 2009
Claremont Graduate University - School of Mathematical Sciences, University of North Carolina (UNC) at Greensboro, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 1,022 (20,400)
Citation 4

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Pension policy, retirement savings, portfolio selection, diversificaiton, Tiaa-Cref, ERISA

6.

The Sec's 'Fair Value' Standard for Mutual Fund Investment in Restricted Shares and Other Illiquid Assets

Claremont Economics Working Paper No. 2000-39
Number of pages: 52 Posted: 27 Dec 2000
Janet Kiholm Smith, Richard L. Smith and Karyn Williams
Claremont McKenna College - Robert Day School of Economics and Finance, University of California, Riverside - Anderson Graduate School of Management and Farmers Group Inc
Downloads 789 (29,645)

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Can VCs Time the Market? An Analysis of Exit Choice for Venture-Backed Firms

Number of pages: 44 Posted: 08 Feb 2009 Last Revised: 12 Apr 2011
Eric R. Ball, Hsin-Hui Chiu and Richard L. Smith
Claremont Graduate University Drucker-Ito School of Management, California State University, Northridge and University of California, Riverside - Anderson Graduate School of Management
Downloads 471 (57,731)
Citation 10

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IPO, acquisition, market timing, pseudo market timing, venture capital

Exit Choices of Venture-Backed Firms: IPO v. Acquisition

Number of pages: 44 Posted: 16 Nov 2008 Last Revised: 28 Apr 2009
Eric R. Ball, Hsin-Hui Chiu and Richard L. Smith
Claremont Graduate University Drucker-Ito School of Management, California State University, Northridge and University of California, Riverside - Anderson Graduate School of Management
Downloads 302 (97,412)
Citation 10

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venture capital, IPO, acquisition, exit choice, market timing

8.

Venture Capital Fund Performance: The Effects of Exits, Abandonment, Persistence, Experience, and Reputation

Number of pages: 51 Posted: 11 Jul 2009 Last Revised: 27 Sep 2010
Richard L. Smith, Roberto Pedace and Vijay Sathe
University of California, Riverside - Anderson Graduate School of Management, Claremont Colleges, Scripps College - Department of Economics and The Peter F. Drucker and Masatoshi Ito Graduate School of Management, Claremont Graduate University
Downloads 696 (35,120)

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venture capital, persistence, reputation, IPO, acquisition, real options

9.

How Important is Capital Structure Policy to Firm Survival?

Number of pages: 48 Posted: 02 Nov 2011 Last Revised: 01 Apr 2013
Y. Peter Chung, Hyun Seung Na and Richard L. Smith
University of California at Riverside, Korea University Business School (KUBS) and University of California, Riverside - Anderson Graduate School of Management
Downloads 630 (40,154)

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Capital structure, Bankruptcy, Acquisition, Oil exploration and development

10.

Why Does Book Building Drive Out Auction Methods of IPO Issuance? Evidence from Japan

Claremont Graduate University Working Paper
Number of pages: 50 Posted: 27 Apr 2003
Kenji Kutsuna and Richard L. Smith
Osaka City University and University of California, Riverside - Anderson Graduate School of Management
Downloads 577 (45,113)
Citation 12

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IPO, public offering, book building, underpricing

11.

The Paradox of 'Fraud-on-the-Market Theory': Who Relies on the Efficiency of Market Prices?

Robert Day School of Economics and Finance Research Paper No. 2008-2
Number of pages: 52 Posted: 28 May 2008 Last Revised: 15 Aug 2009
Grigori Erenburg, Janet Kiholm Smith and Richard L. Smith
University of Western Ontario - King's University College, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 490 (55,503)
Citation 1

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Fraud on the market, securities litigation, market efficiency

12.

Why are Ipos Underpriced? Evidence from Japan's Hybrid Auction-Method Offerings

Claremont Graduate University Working Paper
Number of pages: 45 Posted: 06 Aug 2003
Francis J. Kerins, Kenji Kutsuna and Richard L. Smith
Montana State University - Bozeman - College of Business, Osaka City University and University of California, Riverside - Anderson Graduate School of Management
Downloads 423 (66,484)
Citation 7

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IPO, public offering, book building, underpricing, partial adjustment

13.

Banking Relationships and Access to Equity Capital Markets: Evidence from Japan's Main Bank System

Number of pages: 40 Posted: 22 Jul 2003
Kenji Kutsuna, Janet Kiholm Smith and Richard L. Smith
Osaka City University, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 376 (76,375)
Citation 2

Abstract:

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14.

Public Information, IPO Price Formation, and Long-Run Returns: Japanese Evidence

Number of pages: 33 Posted: 17 May 2006
Kenji Kutsuna, Janet Kiholm Smith and Richard L. Smith
Osaka City University, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 352 (82,550)
Citation 6

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IPO price formation, partial adjustment, underpricing, public information, long-run returns, over-allotment options

15.

Required Rates of Return and Financial Contracting for Entrepreneurial Ventures

Number of pages: 50 Posted: 26 Aug 2009
Richard L. Smith
University of California, Riverside - Anderson Graduate School of Management
Downloads 349 (83,363)

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venture capital, cost of capital, entrepreneurial finance

16.

Market Timing and Exit Choices: IPO v. Acquisition

Number of pages: 40 Posted: 22 Mar 2009 Last Revised: 02 Sep 2009
Eric R. Ball, Hsin-Hui Chiu and Richard L. Smith
Claremont Graduate University Drucker-Ito School of Management, California State University, Northridge and University of California, Riverside - Anderson Graduate School of Management
Downloads 322 (91,316)

Abstract:

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IPO, acquisition, exit choice, market timing, pseudo market timing, venture capital

17.

Why Do IPO Issuers Grant Overallotment Options to Underwriters?

Number of pages: 45 Posted: 17 Nov 2013 Last Revised: 11 Dec 2014
Yawen Jiao, Kenji Kutsuna and Richard L. Smith
University of California, Riverside, Kobe University - Graduate School of Business Administration and University of California, Riverside - Anderson Graduate School of Management
Downloads 296 (99,990)

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Overallotment options; Initial public offering; IPO pricing; Underpricing

Institutional Investors, Monitoring, and the Transformation of Underperforming Firms

Claremont McKenna College Robert Day School of Economics and Finance Research Paper
Number of pages: 56 Posted: 30 Aug 2011 Last Revised: 07 Jan 2012
Grigori Erenburg, Janet Kiholm Smith and Richard L. Smith
University of Western Ontario - King's University College, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 137 (206,420)

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institutional investors, monitoring, corporate governance, underperforming firms, activist pension funds, hedge funds, blockholders, acquisition, failure

Does Institutional Ownership Promote the Transformation of Underperforming Firms?

Claremont McKenna College Robert Day School of Economics and Finance Research Paper No. 2012-02
Number of pages: 41 Posted: 05 Mar 2012 Last Revised: 11 Aug 2013
Grigori Erenburg, Janet Kiholm Smith and Richard L. Smith
University of Western Ontario - King's University College, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 101 (259,514)

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institutional investors, monitoring, corporate governance, underperforming firms, acquisition, bankruptcy, distressed firms

19.

The Drucker Vision: Corporations, Managers, Markets, and Innovation

Number of pages: 27 Posted: 22 Aug 2009 Last Revised: 27 Aug 2009
Richard L. Smith
University of California, Riverside - Anderson Graduate School of Management
Downloads 221 (135,162)

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Peter Drucker, the Austrian School, Schumpeter

20.

On the Foundations of the Drucker Vision

Number of pages: 16 Posted: 22 Aug 2009 Last Revised: 27 Aug 2009
Richard L. Smith
University of California, Riverside - Anderson Graduate School of Management
Downloads 158 (183,195)

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Peter Drucker, the Austrian School, Schumpeter

21.

Supply-Chain Spillover Effects of IPOs

Number of pages: 36 Posted: 24 Feb 2013 Last Revised: 17 Sep 2013
Kobe University - Graduate School of Business Administration, Claremont McKenna College - Robert Day School of Economics and Finance, University of California, Riverside - Anderson Graduate School of Management and Nagasaki University
Downloads 155 (186,060)

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supply chain, IPO, SME, Trade credit, Working capital

22.

Universities and Colleges as Socially Responsible Investors

Number of pages: 59 Posted: 02 Oct 2014
Richard L. Smith and Janet Kiholm Smith
University of California, Riverside - Anderson Graduate School of Management and Claremont McKenna College - Robert Day School of Economics and Finance
Downloads 152 (189,212)

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socially responsible investing (SRI), ESG investing, university endowments, agency cost, governance

23.

Which Institutional Investors Matter for Firm Survival and Performance?

Number of pages: 51 Posted: 04 Nov 2012 Last Revised: 16 Sep 2013
Janet Kiholm Smith, Richard L. Smith and Grigori Erenburg
Claremont McKenna College - Robert Day School of Economics and Finance, University of California, Riverside - Anderson Graduate School of Management and University of Western Ontario - King's University College
Downloads 131 (213,364)

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institutional investors, corporate governance, underperforming firms, activist pension funds, hedge funds, blockholders, acquisition, bankruptcy, distressed firms

24.

Are Public Equity Markets Declining in Importance?

Journal of Applied Finance (Formerly Financial Practice and Education), Vol. 24, No. 1, 2014, pgs. 6-13
Number of pages: 8 Posted: 30 Jul 2014
Joshua G. Rosett and Richard L. Smith
Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 121 (226,605)

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25.

Institutionalization of Capital and the Changing Role of Public Equity Markets: International Evidence

Claremont McKenna College Robert Day School of Economics and Finance Research Paper No. 2979490
Number of pages: 52 Posted: 03 Jun 2017 Last Revised: 12 Nov 2017
Ivalina Kalcheva, Janet Kiholm Smith and Richard L. Smith
University of California, Riverside, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 98 (262,993)

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Mutual funds, Pension funds, Public listings, Trading volume, Market capitalization Institutional investors, Financial liberalization, Economic development

26.

Institutional Investment and the Changing Role of Public Equity Markets: International Evidence

Number of pages: 49 Posted: 09 Apr 2019
Ivalina Kalcheva, Janet Kiholm Smith and Richard L. Smith
University of California, Riverside, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 2 (621,075)

Abstract:

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Mutual funds, Pension funds, Public listings, Trading volume, Market capitalization Institutional investors, Financial liberalization, Economic development

27.

The Paradox of Fraud-on-The-Market Theory: Who Relies on the Efficiency of Market Prices?

Journal of Empirical Legal Studies, Vol. 8, Issue 2, pp. 260-303, 2011
Number of pages: 44 Posted: 20 May 2011
Grigori Erenburg, Janet Kiholm Smith and Richard L. Smith
University of Western Ontario - King's University College, affiliation not provided to SSRN and University of California, Riverside - Anderson Graduate School of Management
Downloads 2 (621,075)
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28.

Direct Equity Financing; A Resolution of a Paradox: A Comment

The Journal of Finance, Vol. 39, No. 5, pp. 1615-1618, December 1984
Posted: 01 Nov 2009
Richard L. Smith and Manjeet S. Dhatt
University of California, Riverside - Anderson Graduate School of Management and University of Minnesota - Duluth - Department of Finance and Management Information Sciences

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direct equity financing, IPO

29.

Public Information, IPO Price Formation, and Long-Run Returns: Japanese Evidence

The Journal of Finance, Vol. LXIV, No. 1, pp. 505-545, February 2009
Posted: 01 Nov 2009
Kenji Kutsuna, Janet Kiholm Smith and Richard L. Smith
Kobe University - Graduate School of Business Administration, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management

Abstract:

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IPO price formation, partial adjustment, underpricing, public information, long-run returns, overallotment options

30.

Determinants of Contract Choice: The Use of Warrants to Compensate Underwriters of Seasoned Equity Issues

Journal of Finance, Vol. 51, No. 1, March 1996
Posted: 11 Mar 1996 Last Revised: 09 Oct 2008
Chee K. Ng and Richard L. Smith
Fairleigh-Dickinson University - Silberman College of Business and University of California, Riverside - Anderson Graduate School of Management

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