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

30

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CITATIONS
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345

Scholarly Papers (30)

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1.

Are U.S. Industries Becoming More Concentrated?

Forthcoming, Review of Finance
Number of pages: 80 Posted: 31 May 2015 Last Revised: 27 Oct 2018
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 5,492 (1,245)
Citation 9

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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 4,281 ( 1,932)
Citation 308

Dividends, Share Repurchases, and the Substitution Hypothesis

AFA 2002 Atlanta Meetings
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 4,281 (1,900)
Citation 308

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Dividends, Share Repurchases, and the Substitution Hypothesis

Journal of Finance, Vol. 57, pp. 1649-1684, 2002
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 2,521 (4,781)
Citation 43

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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 1,805 (8,460)
Citation 154

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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 1,470 (11,778)
Citation 20

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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 1,370 (13,216)
Citation 43

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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 1,236 (15,500)
Citation 1

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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 1,147 (17,368)
Citation 19

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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 903 (24,775)
Citation 16

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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 829 (27,951)
Citation 36

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

11.

Advertising, Breadth of Ownership, and Liquidity

AFA 2003 Washington, DC Meetings
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 714 (34,273)
Citation 34

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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 648 (38,995)
Citation 18

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13.

Does Stock Market Liquidity Matter? Evidence from Seasoned Equity Offerings

AFA 2004 San Diego Meetings
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 647 (39,096)
Citation 5

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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 614 (41,955)
Citation 21

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Corporate Governance, Product Market Competition, Sarbanes Oxley

15.

IPO Vintage and the Rise of Idiosyncratic Risk

7th Annual Texas Finance Festival Paper
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 589 (44,409)
Citation 14

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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 533 (50,393)
Citation 8

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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 526 (51,266)
Citation 44

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18.

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 448 (62,669)
Citation 18

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Market Timing, Financing Decisions, Investment Policy

19.

Closed-End Fund Discounts with Informed Ownership Differential

Downloads 418 ( 68,092)
Citation 9

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 418 (67,460)
Citation 9

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Closed-End Fund Discounts with Informed Ownership Differential

Forthcoming in Journal of Financial Intermediation
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

20.

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

Downloads 412 ( 69,338)

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 412 (68,705)
Citation 26

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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

21.

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 388 (74,418)

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Sales Seasonality, Stock Returns, Investor Attention

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 283 (106,015)
Citation 5

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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 272 (110,587)
Citation 24

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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 220 (137,022)
Citation 3

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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 171 (172,766)

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26.

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 115 (237,577)
Citation 2

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

27.

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 112 (242,037)

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Aggregate Investment, Q-Theory, Cashflow, Accelerator

28.

The Worst of Both Worlds: Megamergers are Anticompetitive and Inefficient

Number of pages: 51 Posted: 15 Jul 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 Southern Methodist University (SMU) - Finance Department
Downloads 4 (612,967)

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Mergers and Acquistions; Megamergers; Merger Gains

29.

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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30.

Are Dividend Changes a Sign of Firm Maturity?

The Journal of Business, Vol. 75, No. 3, July 2002
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: 231
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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 Yvonne Taylor
Rice University - Jesse H. Jones Graduate School of Business, Rice University and Independent
Downloads 231

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