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/

SCHOLARLY PAPERS

28

DOWNLOADS
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CITATIONS
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661

Scholarly Papers (28)

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 Johnson@Cornell Tech, Cornell University
Downloads 4,066 (1,602)
Citation 241

Abstract:

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 Johnson@Cornell Tech, Cornell University

Abstract:

2.

Dividend Changes Do Not Signal Changes in Future Profitability

Number of pages: 38 Posted: 08 Oct 2003
Rice University - Jesse H. Jones Graduate School of Business, Johnson@Cornell Tech, Cornell University, University of California at Los Angeles and University of Chicago - Booth School of Business
Downloads 2,251 (3,979)
Citation 47

Abstract:

3.

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 Johnson@Cornell Tech, Cornell University
Downloads 1,666 (7,180)
Citation 128

Abstract:

4.

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 1,291 (11,731)
Citation 13

Abstract:

Volatility, Risk, Stock Returns, Real Options

5.

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 1,173 (12,897)
Citation 7

Abstract:

Liquidity, Cost of capital, investment banking

6.

Corporate Payout Policy and Product Market Competition

AFA 2008 New Orleans Meetings Paper
Number of pages: 35 Posted: 20 Mar 2007
Gustavo Grullon and Roni Michaely
Rice University - Jesse H. Jones Graduate School of Business and Johnson@Cornell Tech, Cornell University
Downloads 1,130 (11,370)
Citation 9

Abstract:

Payout Policy, Dividends, Share Repurchases, Product Market Competition

7.

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 790 (17,286)
Citation 7

Abstract:

8.

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 637 (27,030)
Citation 4

Abstract:

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

9.

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

Posted: 19 Mar 2008 Last Revised: 23 Nov 2015
University of Miami, Rice University - Jesse H. Jones Graduate School of Business, Cornell University - Samuel Curtis Johnson Graduate School of Management and Johnson@Cornell Tech, Cornell University

Abstract:

10.

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 630 (29,994)
Citation 91

Abstract:

11.

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 619 (33,082)
Citation 7

Abstract:

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 617 (33,382)
Citation 3

Abstract:

13.

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 504 (44,086)
Citation 36

Abstract:

14.

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 498 (41,640)
Citation 18

Abstract:

15.

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 427 (25,963)

Abstract:

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

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 421 (47,829)
Citation 8

Abstract:

Idiosyncratic Risk

17.

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
University of Miami, Cornell University - Samuel Curtis Johnson Graduate School of Management, Rice University - Jesse H. Jones Graduate School of Business and Johnson@Cornell Tech, Cornell University
Downloads 419 (38,978)
Citation 2

Abstract:

Corporate Governance, Product Market Competition, Sarbanes Oxley

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 407 (58,237)
Citation 3

Abstract:

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

Abstract:

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

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 405 (58,565)
Citation 14

Abstract:

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

Abstract:

Debt maturity, market timing, market efficiency, behavioral finance

20.

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
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 383 (57,410)
Citation 4

Abstract:

Market Timing, Financing Decisions, Investment Policy

21.

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 264 (93,753)
Citation 2

Abstract:

Market Timing, Spurious Regressions

22.

Has the Propensity to Pay Out Declined?

Number of pages: 34 Posted: 02 Sep 2007
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 254 (97,115)
Citation 12

Abstract:

dividends, share repurchases, net payouts

23.

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 167 (128,650)

Abstract:

comovement, investment banking

24.

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

Number of pages: 36 Posted: 11 Dec 2008 Last Revised: 04 Mar 2009
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 158 (148,692)
Citation 2

Abstract:

25.

Are U.S. Industries Becoming More Concentrated?

Number of pages: 68 Posted: 31 May 2015 Last Revised: 07 Sep 2017
Gustavo Grullon, Yelena Larkin and Roni Michaely
Rice University - Jesse H. Jones Graduate School of Business, Schulich School of Business, York University and Johnson@Cornell Tech, Cornell University
Downloads 119 (3,799)

Abstract:

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

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 71 (235,776)

Abstract:

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 0 (277,745)

Abstract:

Aggregate Investment, Q-Theory, Cashflow, Accelerator

28.

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, Johnson@Cornell Tech, Cornell University and LSV Asset Management

Abstract:

Other Papers (1)

Total Downloads: 224    Citations: 0
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 196

Abstract: