Gustavo Grullon

Rice University - Jesse H. Jones Graduate School of Business

Professor of Finance

P.O. Box 2932

Houston, TX 77252-2932

United States

http://www.ruf.rice.edu/~grullon/

  • Rice University - Jesse H. Jones Graduate School of Business

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    • Tel: (713) 348-6138
    • Fax: (713) 348-6331
SCHOLARLY PAPERS

31

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279

CROSSREF CITATIONS

150

Scholarly Papers (31)

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1.

Are U.S. Industries Becoming More Concentrated?

Forthcoming, Review of Finance, Swiss Finance Institute Research Paper No. 19-41
Number of pages: 82 Posted: 31 May 2015 Last Revised: 11 Sep 2019
Gustavo Grullon, Yelena Larkin and Roni Michaely
Rice University - Jesse H. Jones Graduate School of Business, York University - Schulich School of Business and University of Geneva - Geneva Finance Research Institute (GFRI)
Downloads 6,288 (1,152)
Citation 12

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industry concentration; HHI; product markets; profit margins; publicly-traded firms; M&A; antitrust

2.

Dividends, Share Repurchases, and the Substitution Hypothesis

Downloads 4,399 ( 2,167)
Citation 53

Dividends, Share Repurchases, and the Substitution Hypothesis

Number of pages: 51 Posted: 26 Apr 2000
Gustavo Grullon and Roni Michaely
Rice University - Jesse H. Jones Graduate School of Business and University of Geneva - Geneva Finance Research Institute (GFRI)
Downloads 4,399 (2,130)
Citation 53

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Dividends, Share Repurchases, and the Substitution Hypothesis

Posted: 29 Dec 2003
Gustavo Grullon and Roni Michaely
Rice University - Jesse H. Jones Graduate School of Business and University of Geneva - Geneva Finance Research Institute (GFRI)

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3.

Dividend Changes Do Not Signal Changes in Future Profitability

Number of pages: 38 Posted: 08 Oct 2003
Gustavo Grullon, Roni Michaely, Shlomo Benartzi and Richard H. Thaler
Rice University - Jesse H. Jones Graduate School of Business, University of Geneva - Geneva Finance Research Institute (GFRI), University of California at Los Angeles and University of Chicago - Booth School of Business
Downloads 2,544 (5,500)
Citation 34

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4.

The Information Content of Share Repurchase Programs

Number of pages: 44 Posted: 30 Mar 2000
Gustavo Grullon and Roni Michaely
Rice University - Jesse H. Jones Graduate School of Business and University of Geneva - Geneva Finance Research Institute (GFRI)
Downloads 1,835 (9,548)
Citation 34

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5.

Dividend Policy and Product Market Competition

Number of pages: 46 Posted: 20 Mar 2007 Last Revised: 09 Mar 2019
Gustavo Grullon, Yelena Larkin and Roni Michaely
Rice University - Jesse H. Jones Graduate School of Business, York University - Schulich School of Business and University of Geneva - Geneva Finance Research Institute (GFRI)
Downloads 1,632 (11,525)
Citation 36

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Payout Policy, Dividends, Share Repurchases, Product Market Competition

6.

Real Options, Volatility, and Stock Returns

Journal of Finance, Vol. 67, pp. 1499-1536, 2012
Number of pages: 49 Posted: 08 Mar 2008 Last Revised: 25 Mar 2013
Gustavo Grullon, Evgeny Lyandres and Alexei Zhdanov
Rice University - Jesse H. Jones Graduate School of Business, Boston University and Pennsylvania State University
Downloads 1,395 (14,741)
Citation 22

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Volatility, Risk, Stock Returns, Real Options

7.

Stock Market Liquidity and the Cost of Raising Capital

Number of pages: 37 Posted: 16 Dec 2002
James Weston, Gustavo Grullon and Alexander W. Butler
Rice University - Jesse H. Jones Graduate School of Business, Rice University - Jesse H. Jones Graduate School of Business and Rice University - Jesse H. Jones Graduate School of Business
Downloads 1,250 (17,428)
Citation 3

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Liquidity, Cost of capital, investment banking

8.

Religion and Corporate (Mis)Behavior

Number of pages: 39 Posted: 12 Sep 2009 Last Revised: 16 Mar 2010
Gustavo Grullon, George Kanatas and James Weston
Rice University - Jesse H. Jones Graduate School of Business, Rice University - Jesse H. Jones Graduate School of Business and Rice University - Jesse H. Jones Graduate School of Business
Downloads 1,245 (17,547)
Citation 47

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9.

The Effects of Short-Selling Threats on Incentive Contracts: Evidence from an Experiment

Review of Financial Studies, Forthcoming
Number of pages: 48 Posted: 24 Mar 2013 Last Revised: 18 Oct 2016
David De Angelis, Gustavo Grullon and Sebastien Michenaud
Rice University - Jesse H. Jones Graduate School of Business, Rice University - Jesse H. Jones Graduate School of Business and Kellstadt Graduate School of Business
Downloads 940 (26,557)
Citation 6

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Executive Compensation, Short-Selling Constraints,Risk-Taking Incentives, Left-Tail Risk, Stock Price Informativeness

10.

The Real Effects of Short-Selling Constraints

Number of pages: 51 Posted: 16 Nov 2011 Last Revised: 12 Jun 2014
Gustavo Grullon, Sebastien Michenaud and James Weston
Rice University - Jesse H. Jones Graduate School of Business, Kellstadt Graduate School of Business and Rice University - Jesse H. Jones Graduate School of Business
Downloads 882 (29,115)
Citation 25

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Corporate Investment, Financing Decisions, Short-selling Constraints, Financial Constraints, Bear raids,

11.

Advertising, Breadth of Ownership, and Liquidity

Number of pages: 35 Posted: 25 Mar 2002
Gustavo Grullon, George Kanatas and James Weston
Rice University - Jesse H. Jones Graduate School of Business, Rice University - Jesse H. Jones Graduate School of Business and Rice University - Jesse H. Jones Graduate School of Business
Downloads 730 (37,796)
Citation 93

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12.

Financing Decisions and Advertising: An Empirical Study of Capital Structure and Product Market Competition

Number of pages: 44 Posted: 18 Jun 2002
Gustavo Grullon, George Kanatas and Piyush Kumar
Rice University - Jesse H. Jones Graduate School of Business, Rice University - Jesse H. Jones Graduate School of Business and Vanderbilt University - Owen Graduate School of Management
Downloads 659 (43,371)
Citation 8

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13.

Does Stock Market Liquidity Matter? Evidence from Seasoned Equity Offerings

Number of pages: 37 Posted: 29 Nov 2003
Alexander W. Butler, Gustavo Grullon and James Weston
Rice University - Jesse H. Jones Graduate School of Business, Rice University - Jesse H. Jones Graduate School of Business and Rice University - Jesse H. Jones Graduate School of Business
Downloads 649 (44,283)
Citation 7

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14.

Product Market Competition and Internal Governance: Evidence from the Sarbanes Oxley Act

AFA 2013 San Diego Meetings Paper, Forthcoming, Management Science, Johnson School Research Paper Series No. 18-2012
Number of pages: 45 Posted: 20 Mar 2012 Last Revised: 24 Nov 2015
Vidhi Chhaochharia, Yaniv Grinstein, Gustavo Grullon and Roni Michaely
University of Miami - Department of Finance, Cornell University - Samuel Curtis Johnson Graduate School of Management, Rice University - Jesse H. Jones Graduate School of Business and University of Geneva - Geneva Finance Research Institute (GFRI)
Downloads 631 (45,982)
Citation 20

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Corporate Governance, Product Market Competition, Sarbanes Oxley

15.

IPO Vintage and the Rise of Idiosyncratic Risk

Number of pages: 35 Posted: 04 Feb 2005
Jason Fink, Gustavo Grullon, Kristin Fink and James Weston
James Madison University - College of Business, Rice University - Jesse H. Jones Graduate School of Business, James Madison University - College of Business and Rice University - Jesse H. Jones Graduate School of Business
Downloads 612 (47,828)
Citation 20

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16.

Firm Age and Fluctuations in Idiosyncratic Risk

Number of pages: 40 Posted: 16 Mar 2006
Jason Fink, Gustavo Grullon, Kristin Fink and James Weston
James Madison University - College of Business, Rice University - Jesse H. Jones Graduate School of Business, James Madison University - College of Business and Rice University - Jesse H. Jones Graduate School of Business
Downloads 564 (53,108)
Citation 9

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Idiosyncratic Risk

17.

Can Managers Forecast Aggregate Market Returns?

Number of pages: 29 Posted: 26 May 2003
Alexander W. Butler, Gustavo Grullon and James Weston
Rice University - Jesse H. Jones Graduate School of Business, Rice University - Jesse H. Jones Graduate School of Business and Rice University - Jesse H. Jones Graduate School of Business
Downloads 528 (57,722)
Citation 24

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18.

When Low Beats High: Riding the Sales Seasonality Premium

Number of pages: 59 Posted: 21 May 2018 Last Revised: 27 May 2018
Gustavo Grullon, Yamil Kaba and Alexander Nuñez-Torres
Rice University - Jesse H. Jones Graduate School of Business, Rice University - Jesse H. Jones Graduate School of Business and CUNY Lehman College
Downloads 492 (63,106)

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Sales Seasonality, Stock Returns, Investor Attention

19.

Corporate Financing Decisions, Managerial Market Timing, and Real Investment

Journal of Financial Economics (JFE), Vol. 101, No. 3, 2011
Number of pages: 52 Posted: 30 Mar 2009 Last Revised: 23 Sep 2014
Alexander W. Butler, Jess Cornaggia, Gustavo Grullon and James Weston
Rice University - Jesse H. Jones Graduate School of Business, Pennsylvania State University - Department of Finance, Rice University - Jesse H. Jones Graduate School of Business and Rice University - Jesse H. Jones Graduate School of Business
Downloads 466 (67,463)
Citation 12

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Market Timing, Financing Decisions, Investment Policy

20.

Closed-End Fund Discounts with Informed Ownership Differential

Downloads 422 ( 76,085)
Citation 1

Closed-End Fund Discounts with Informed Ownership Differential

Number of pages: 66 Posted: 29 Mar 2000
Gustavo Grullon and F. Albert Wang
Rice University - Jesse H. Jones Graduate School of Business and University of Dayton - School of Business Administration - Department of Economics and Finance
Downloads 422 (75,383)
Citation 1

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Closed-End Fund Discounts with Informed Ownership Differential

Posted: 23 May 2001
Gustavo Grullon and F. Albert Wang
Rice University - Jesse H. Jones Graduate School of Business and University of Dayton - School of Business Administration - Department of Economics and Finance

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Closed-end fund discount, asymmetric information, informed ownership, anomaly, asset pricing

21.

Can Managers Successfully Time the Maturity Structure of Their Debt Issues?

Downloads 415 ( 77,624)

Can Managers Successfully Time the Maturity Structure of Their Debt Issues?

Number of pages: 37 Posted: 27 Jul 2004
Alexander W. Butler, Gustavo Grullon and James Weston
Rice University - Jesse H. Jones Graduate School of Business, Rice University - Jesse H. Jones Graduate School of Business and Rice University - Jesse H. Jones Graduate School of Business
Downloads 415 (76,916)
Citation 14

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Debt maturity, market timing, market efficiency, behavioral finance

Can Managers Successfully Time the Maturity Structure of their Debt Issues?

Journal of Finance, Forthcoming
Posted: 23 Mar 2006
Gustavo Grullon, Alexander W. Butler and James Weston
Rice University - Jesse H. Jones Graduate School of Business, Rice University - Jesse H. Jones Graduate School of Business and Rice University - Jesse H. Jones Graduate School of Business

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Debt maturity, market timing, market efficiency, behavioral finance

22.

A Note on Nonsense Predictive Regressions Arising from Structural Breaks

Number of pages: 9 Posted: 03 Aug 2006
Alexander W. Butler, Gustavo Grullon and James Weston
Rice University - Jesse H. Jones Graduate School of Business, Rice University - Jesse H. Jones Graduate School of Business and Rice University - Jesse H. Jones Graduate School of Business
Downloads 289 (116,567)
Citation 9

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Market Timing, Spurious Regressions

23.

Has the Propensity to Pay Out Declined?

Number of pages: 34 Posted: 02 Sep 2007
Gustavo Grullon, Bradley S. Paye, Shane Underwood and James Weston
Rice University - Jesse H. Jones Graduate School of Business, Virginia Polytechnic Institute & State University - Department of Finance, Insurance, and Business Law, Baylor University and Rice University - Jesse H. Jones Graduate School of Business
Downloads 275 (122,783)
Citation 6

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dividends, share repurchases, net payouts

24.

Comovement and Investment Banking Networks

Journal of Financial Economics (JFE), Vol. 113, No. 1, 2014
Number of pages: 51 Posted: 05 Aug 2010 Last Revised: 04 Jul 2014
Gustavo Grullon, Shane Underwood and James Weston
Rice University - Jesse H. Jones Graduate School of Business, Baylor University and Rice University - Jesse H. Jones Graduate School of Business
Downloads 226 (149,597)
Citation 2

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comovement, investment banking

25.

Equity Issues and Returns: Managerial Timing, Reaction, or Both?

Number of pages: 36 Posted: 11 Dec 2008 Last Revised: 04 Mar 2009
Alexander W. Butler, Jess Cornaggia, Gustavo Grullon and James Weston
Rice University - Jesse H. Jones Graduate School of Business, Pennsylvania State University - Department of Finance, Rice University - Jesse H. Jones Graduate School of Business and Rice University - Jesse H. Jones Graduate School of Business
Downloads 173 (191,028)
Citation 1

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26.

Concentrating on Q and Cash Flow

Number of pages: 40 Posted: 03 Feb 2017
Gustavo Grullon, John Hund and James Weston
Rice University - Jesse H. Jones Graduate School of Business, University of Georgia and Rice University - Jesse H. Jones Graduate School of Business
Downloads 126 (247,426)
Citation 1

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Aggregate Investment, Q-Theory, Cashflow, Accelerator

27.

A Granular Analysis of Corporate Investment

Number of pages: 39 Posted: 03 Aug 2013
Gustavo Grullon, John Hund and James Weston
Rice University - Jesse H. Jones Graduate School of Business, University of Georgia and Rice University - Jesse H. Jones Graduate School of Business
Downloads 121 (255,066)
Citation 4

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aggregate investment, financial constraints, investment concentration, q-theory

28.

The Worst of Both Worlds: Megamergers are Anticompetitive and Inefficient

SMU Cox School of Business Research Paper No. 19-9
Number of pages: 51 Posted: 15 Jul 2019 Last Revised: 04 Sep 2019
Alexander W. Butler, Gustavo Grullon and Gabriele Lattanzio
Rice University - Jesse H. Jones Graduate School of Business, Rice University - Jesse H. Jones Graduate School of Business and Monash University
Downloads 77 (342,866)
Citation 2

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Mergers and Acquistions; Megamergers; Merger Gains

29.

The Persistent Decline in Asset Utilization and the Investment-q Paradox

Number of pages: 70 Posted: 22 Jul 2020 Last Revised: 08 Sep 2020
Gustavo Grullon and David L. Ikenberry
Rice University - Jesse H. Jones Graduate School of Business and Leeds School of Business, University of Colorado Boulder
Downloads 42 (457,154)

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Corporate Investment, q-ratio, Asset Utilization, Consumption Growth, Dividend Policy and Share Repurchases

30.

Product Market Competition and Agency Conflicts: Evidence from the Sarbanes Oxley Act

Posted: 19 Mar 2008 Last Revised: 23 Nov 2015
Vidhi Chhaochharia, Gustavo Grullon, Yaniv Grinstein and Roni Michaely
University of Miami - Department of Finance, Rice University - Jesse H. Jones Graduate School of Business, Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Geneva - Geneva Finance Research Institute (GFRI)

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31.

Are Dividend Changes a Sign of Firm Maturity?

Posted: 22 Jul 2003
Gustavo Grullon, Roni Michaely and Bhaskaran Swaminathan
Rice University - Jesse H. Jones Graduate School of Business, University of Geneva - Geneva Finance Research Institute (GFRI) and LSV Asset Management

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Other Papers (1)

Total Downloads: 232
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1.

Research Insights and the Halliburton-Baker Hughes Merger

“RESEARCH INSIGHTS AND THE Halliburton-Baker Hughes Merger,” Yvonne Taylor, Gustavo Grullon and Vikas Mittal, Jones Journal, Spring, 2015, 30-33.
Number of pages: 4 Posted: 29 Apr 2015
Gustavo Grullon, Vikas Mittal and M. Yvonne Taylor
Rice University - Jesse H. Jones Graduate School of Business, Rice University and University of Texas at Austin
Downloads 232

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