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/

  • University of California, Riverside - Anderson Graduate School of Management

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    • Tel: 951-827-3554
SCHOLARLY PAPERS

30

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18

Scholarly Papers (30)

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1.

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 1,332 (29,440)
Citation 8

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venture capital, cost of capital, diversification

2.

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 1,260 (31,974)
Citation 2

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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 1,173 (35,400)
Citation 10

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4.

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
John Angus, William O. Brown, Janet Kiholm Smith and Richard L. Smith
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 1,122 (37,716)
Citation 2

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

5.

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 1,107 (38,460)
Citation 1

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6.

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

Downloads 965 (46,767)
Citation 15

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 555 (95,428)
Citation 3

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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 410 (137,334)
Citation 5

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

7.

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 883 (52,828)
Citation 3

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

8.

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 Hightree Advisors LLC
Downloads 826 (57,937)
Citation 1

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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 795 (61,039)
Citation 6

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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 611 (85,449)
Citation 11

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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 540 (100,003)
Citation 1

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Fraud on the market, securities litigation, market efficiency

12.

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 499 (110,139)
Citation 16

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venture capital, cost of capital, entrepreneurial finance

13.

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 465 (119,762)
Citation 6

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

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 415 (136,716)
Citation 7

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

15.

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 409 (139,084)
Citation 4

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16.

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, University of Tokyo and University of California, Riverside - Anderson Graduate School of Management
Downloads 386 (148,520)
Citation 3

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Overallotment options; Initial public offering; IPO pricing; Underpricing

17.

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 378 (151,986)

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

18.

Institutional Investors, Monitoring, and the Transformation of Underperforming Firms

Downloads 314 (185,724)

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 179 (319,772)

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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 135 (405,751)

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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 291 (201,293)

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Peter Drucker, the Austrian School, Schumpeter

20.

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 251 (233,681)
Citation 1

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

21.

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 231 (253,342)

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22.

Bias in the Reporting of Venture Capital Performance: The Disciplinary Role of FOIA

Number of pages: 43 Posted: 08 Apr 2022
Erin E. Smith, Janet Kiholm Smith and Richard L. Smith
The Securities and Exchange Commission, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 227 (257,688)

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Venture capital performance, FOIA, Performance reporting

23.

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 219 (266,520)
Citation 1

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Peter Drucker, the Austrian School, Schumpeter

24.

Supply-Chain Spillover Effects of IPOs

Number of pages: 36 Posted: 24 Feb 2013 Last Revised: 17 Sep 2013
Kenji Kutsuna, Janet Kiholm Smith, Richard L. Smith and Kazuo Yamada
University of Tokyo, Claremont McKenna College - Robert Day School of Economics and Finance, University of California, Riverside - Anderson Graduate School of Management and GSM, Kyoto University
Downloads 204 (284,610)
Citation 7

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

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 Texas at San Antonio - Department of Finance, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 172 (331,776)

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

26.

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 161 (351,236)

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

27.

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

Claremont McKenna College Robert Day School of Economics and Finance Research Paper No. 3354203
Number of pages: 58 Posted: 09 Apr 2019 Last Revised: 05 Aug 2020
Ivalina Kalcheva, Janet Kiholm Smith and Richard L. Smith
University of Texas at San Antonio - Department of Finance, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management
Downloads 87 (553,059)

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

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
University of Tokyo, Claremont McKenna College - Robert Day School of Economics and Finance and University of California, Riverside - Anderson Graduate School of Management

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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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