Alexander W. Butler

Rice University - Jesse H. Jones Graduate School of Business

Professor

MS 531

Houston, TX 77005

United States

http://www.owlnet.rice.edu/~awbutler/

SCHOLARLY PAPERS

41

DOWNLOADS
Rank 898

SSRN RANKINGS

Top 898

in Total Papers Downloads

26,775

CITATIONS
Rank 3,177

SSRN RANKINGS

Top 3,177

in Total Papers Citations

250

Scholarly Papers (41)

1.

The Academic Job Market in Finance: An Updated Rookie's Guide

Number of pages: 20 Posted: 17 Jul 2012
Alexander W. Butler and Timothy Falcon Crack
Rice University - Jesse H. Jones Graduate School of Business and University of Otago - Department of Accountancy and Finance
Downloads 3,293 (3,081)

Abstract:

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2.

The Academic Job Market in Finance: A Rookie's Guide

Number of pages: 21 Posted: 13 Sep 2004
Alexander W. Butler and Timothy Falcon Crack
Rice University - Jesse H. Jones Graduate School of Business and University of Otago - Department of Accountancy and Finance
Downloads 3,113 (3,401)

Abstract:

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Job Market, Finance PhD, Adverse Selection, Conferences

3.

Rating Through the Relationship: Soft Information and Credit Ratings

Number of pages: 37 Posted: 29 May 2003 Last Revised: 24 Feb 2012
Alexander W. Butler and Kimberly Rodgers Cornaggia
Rice University - Jesse H. Jones Graduate School of Business and Pennsylvania State University - Department of Finance
Downloads 2,300 (5,644)
Citation 18

Abstract:

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Solicited bond rating, information production

Impact: What Influences Finance Research?

Number of pages: 43 Posted: 08 Jun 2001
Tom Arnold, Alexander W. Butler, Timothy Falcon Crack and Ayca Altintig
University of Richmond - E. Claiborne Robins School of Business, Rice University - Jesse H. Jones Graduate School of Business, University of Otago - Department of Accountancy and Finance and Claremont Colleges - Peter F. Drucker Graduate School of Management
Downloads 1,797 (8,412)

Abstract:

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Research Impact, Journal Ranking, citations

Impact: What Influences Finance Research?

Journal of Business, Vol. 76, No. 2, pp. 343-361, 2003
Posted: 22 Aug 2003
Tom Arnold, Alexander W. Butler, Timothy Falcon Crack and Ayca Altintig
University of Richmond - E. Claiborne Robins School of Business, Rice University - Jesse H. Jones Graduate School of Business, University of Otago - Department of Accountancy and Finance and Claremont Colleges - Peter F. Drucker Graduate School of Management

Abstract:

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Research Impact, Journal Ranking, citations

5.

The Academic Job Market in Finance: A Rookie's Guide - 2006 Supplement

Number of pages: 6 Posted: 27 Jul 2006
Alexander W. Butler and Timothy Falcon Crack
Rice University - Jesse H. Jones Graduate School of Business and University of Otago - Department of Accountancy and Finance
Downloads 1,290 (14,599)
Citation 1

Abstract:

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Job Market, Finance PhD, Adverse Selection, Conferences

6.

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 (15,620)
Citation 1

Abstract:

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Liquidity, Cost of capital, investment banking

Corruption, Political Connections, and Municipal Finance

AFA 2008 New Orleans Meetings Paper
Number of pages: 48 Posted: 22 Mar 2007 Last Revised: 29 Aug 2008
Alexander W. Butler, Larry Fauver and Sandra Mortal
Rice University - Jesse H. Jones Graduate School of Business, University of Tennessee, Knoxville - Department of Finance and University of Alabama - Culverhouse College of Commerce & Business Administration
Downloads 797 (29,227)
Citation 4

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Political integrity, Corruption, Pay to play, Municipal finance

Corruption, Political Connections, and Municipal Finance

The Review of Financial Studies, Vol. 22, Issue 7, pp. 2673-2705, 2009
Posted: 22 Jun 2009
Alexander W. Butler, Larry Fauver and Sandra Mortal
Rice University - Jesse H. Jones Graduate School of Business, University of Tennessee, Knoxville - Department of Finance and University of Alabama - Culverhouse College of Commerce & Business Administration

Abstract:

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D73, G20, G22, G24, H74

8.

IPO Spreads: You Get What You Pay for

Number of pages: 20 Posted: 13 Jul 2000
Royce de Rohan Barondes, Alexander W. Butler and Gary C. Sanger
University of Missouri-Columbia School of Law, Rice University - Jesse H. Jones Graduate School of Business and Louisiana State University, Baton Rouge - E.J. Ourso College of Business Administration
Downloads 759 (31,805)
Citation 6

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Investment banking, initial public offering, underwriter fees

Distance Still Matters: Evidence from Municipal Bond Underwriting

Number of pages: 37 Posted: 06 Nov 2002
Alexander W. Butler
Rice University - Jesse H. Jones Graduate School of Business
Downloads 736 (32,631)
Citation 3

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municipal bonds, investment bank fees, local underwriters, soft information, geography

Distance Still Matters: Evidence from Municipal Bond Underwriting

The Review of Financial Studies, Vol. 21, Issue 2, pp. 763-784, 2008
Posted: 26 Jun 2008
Alexander W. Butler
Rice University - Jesse H. Jones Graduate School of Business

Abstract:

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G24, G28, D80

The Information Content of Short Interest: A Natural Experiment

Number of pages: 43 Posted: 08 Feb 2002
Tom Arnold, Alexander W. Butler, Timothy Falcon Crack and Yan Zhang
University of Richmond - E. Claiborne Robins School of Business, Rice University - Jesse H. Jones Graduate School of Business, University of Otago - Department of Accountancy and Finance and State University of New York at Binghamton - School of Management
Downloads 732 (32,887)
Citation 2

Abstract:

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Sort Interest, Short Sale Against the Box, Tax Payer Relief Act of 1997

The Information Content of Short Interest: A Natural Experiment

Journal of Business, Forthcoming
Posted: 19 Jan 2004
Tom Arnold, Alexander W. Butler, Timothy Falcon Crack and Yan Zhang
University of Richmond - E. Claiborne Robins School of Business, Rice University - Jesse H. Jones Graduate School of Business, University of Otago - Department of Accountancy and Finance and State University of New York at Binghamton - School of Management

Abstract:

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Short interest, Short sale against the box, Taxpayer Relief Act of 1997

11.

Does Access to External Finance Improve Productivity? Evidence from a Natural Experiment

Journal of Financial Economics (JFE), Vol. 99, No. 1, 2011
Number of pages: 53 Posted: 17 Jan 2008 Last Revised: 23 Sep 2014
Alexander W. Butler and Jess Cornaggia
Rice University - Jesse H. Jones Graduate School of Business and Pennsylvania State University - Department of Finance
Downloads 731 (33,435)
Citation 6

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economic growth, access to finance, banking, natural experiment, productivity, crop yields, ethanol

12.

Investment Bank Compensation and IPO Pricing

Number of pages: 38 Posted: 15 Jan 2006
Alexander W. Butler and Hong Wan
Rice University - Jesse H. Jones Graduate School of Business and State University of New York at Oswego
Downloads 727 (33,685)

Abstract:

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IPO, investment bank, selling concession

13.

Don't Believe the Hype: Local Media Slant, Local Advertising, and Firm Value

Journal of Finance, Forthcoming, AFA 2010 Atlanta Meetings Paper
Number of pages: 48 Posted: 29 Jan 2009 Last Revised: 10 Jun 2011
Umit Gurun and Alexander W. Butler
University of Texas at Dallas and Rice University - Jesse H. Jones Graduate School of Business
Downloads 724 (33,921)
Citation 1

Abstract:

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Media Slant, Location, Media, Advertising, Firm Value

14.
Downloads 650 ( 39,162)
Citation 24

Institutional Environment and Sovereign Credit Ratings

Number of pages: 40 Posted: 05 Feb 2005
Alexander W. Butler and Larry Fauver
Rice University - Jesse H. Jones Graduate School of Business and University of Tennessee, Knoxville - Department of Finance
Downloads 395 (72,711)

Abstract:

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Sovereign credit ratings, legal environment, law and finance

Institutional Environment and Sovereign Credit Ratings

Financial Management, Vol. 35, No. 3, Autumn 2006
Number of pages: 28 Posted: 19 Oct 2006
Alexander W. Butler and Larry Fauver
Rice University - Jesse H. Jones Graduate School of Business and University of Tennessee, Knoxville - Department of Finance
Downloads 255 (118,540)
Citation 1
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Abstract:

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15.

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 (39,400)
Citation 7

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16.

Robust Determinants of IPO Underpricing and Their Implications for IPO Research

Number of pages: 49 Posted: 17 Mar 2009 Last Revised: 13 May 2016
Alexander W. Butler, Michael O'Connor Keefe and Robert L. Kieschnick
Rice University - Jesse H. Jones Graduate School of Business, Victoria University of Wellington and University of Texas at Dallas
Downloads 641 (40,007)
Citation 1

Abstract:

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IPO, initial returns, underpricing, underwriting, going public

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 (51,637)
Citation 1

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18.

Corruption and Municipal Finance

Number of pages: 40 Posted: 16 Aug 2004 Last Revised: 26 Aug 2008
Alexander W. Butler
Rice University - Jesse H. Jones Graduate School of Business
Downloads 509 (53,830)
Citation 1

Abstract:

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Municipal bonds, corruption, certification, bond insurance

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 450 (62,770)
Citation 3

Abstract:

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Market Timing, Financing Decisions, Investment Policy

20.

Stock Market Liquidity and the Long-Run Stock Performance of Debt Issuers

Number of pages: 37 Posted: 16 Jul 2006
Alexander W. Butler and Hong Wan
Rice University - Jesse H. Jones Graduate School of Business and State University of New York at Oswego
Downloads 441 (64,344)
Citation 1

Abstract:

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Long run performance, liquidity, debt issues

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 (69,202)
Citation 6

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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

Abstract:

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Debt maturity, market timing, market efficiency, behavioral finance

22.

Financial Integration and Credit Democratization: Linking Banking Deregulation to Economic Growth

Number of pages: 50 Posted: 02 Sep 2012 Last Revised: 27 Feb 2018
Elizabeth Berger, Alexander W. Butler, Edwin Hu and Morad Zekhnini
Cornell University, Rice University - Jesse H. Jones Graduate School of Business, U.S. Securities and Exchange Commission - Division of Economic and Risk Analysis and Tulane University
Downloads 403 (71,901)
Citation 1

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Are They Still Called Late? The Effect of Notice Period on Calls of Convertible Bonds

Number of pages: 24 Posted: 07 May 2003
Alexander W. Butler and Ayca Altintig
Rice University - Jesse H. Jones Graduate School of Business and Claremont Colleges - Peter F. Drucker Graduate School of Management
Downloads 381 (75,854)
Citation 1

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Convertible bonds, call policy

Are They Still Called Late? The Effect of Notice Period on Calls of Convertible Bonds

Journal of Corporate Finance, Forthcoming
Posted: 19 Jan 2004
Alexander W. Butler and Ayca Altintig
Rice University - Jesse H. Jones Graduate School of Business and Claremont Colleges - Peter F. Drucker Graduate School of Management

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Call policy, convertible bonds

24.

Public Versus Private Debt: Confidentiality, Control, and Product Markets

Number of pages: 31 Posted: 27 Apr 2002
Alexander W. Butler and Mitchell Berlin
Rice University - Jesse H. Jones Graduate School of Business and Federal Reserve Bank of Philadelphia - Research Department
Downloads 366 (80,247)

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product markets, disclosure, monitoring, choice of financing source

25.

Local Economic Spillover Effects of Stock Market Listings

Number of pages: 85 Posted: 27 Nov 2015 Last Revised: 07 Dec 2018
Alexander W. Butler, Larry Fauver and Ioannis Spyridopoulos
Rice University - Jesse H. Jones Graduate School of Business, University of Tennessee, Knoxville - Department of Finance and American University, Kogod School of Business
Downloads 355 (83,099)
Citation 1

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IPOs, Per Capita Income, Economic Growth, Listing Status, Spillover

26.

Educational Networks, Mutual Fund Voting Patterns, and CEO Compensation

Number of pages: 50 Posted: 03 Aug 2008 Last Revised: 17 Jan 2012
Alexander W. Butler and Umit Gurun
Rice University - Jesse H. Jones Graduate School of Business and University of Texas at Dallas
Downloads 344 (86,185)
Citation 2

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executive compensation, social connections, share voting

27.

Do Local Capital Market Conditions Affect Consumers' Borrowing Decisions?

Management Science, Forthcoming
Number of pages: 33 Posted: 29 Jul 2010 Last Revised: 13 Mar 2015
Alexander W. Butler, Jess Cornaggia and Umit Gurun
Rice University - Jesse H. Jones Graduate School of Business, Pennsylvania State University - Department of Finance and University of Texas at Dallas
Downloads 337 (88,171)
Citation 9

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Peer-to-peer, Access to finance, Bank competition, Finance-growth nexus, Consumer finance, Household finance

28.

On the Uniformity of Investment Banking Spreads: The Seven Percent Solution is Not Unique

Number of pages: 15 Posted: 26 Jul 2002
Pinghsun Huang and Alexander W. Butler
National Cheng Kung University and Rice University - Jesse H. Jones Graduate School of Business
Downloads 312 (96,048)

Abstract:

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Initial public offerings, seasoned equity offerings, gross spreads, Hong Kong

29.

On the Role of Inexperienced Venture Capitalists in Taking Companies Public

Number of pages: 51 Posted: 20 Sep 2007 Last Revised: 22 Jun 2013
Alexander W. Butler and M. Sinan Goktan
Rice University - Jesse H. Jones Graduate School of Business and California State University, East Bay
Downloads 287 (105,165)
Citation 2

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Venture capital, soft information, IPO, grandstanding

30.

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 (106,718)
Citation 7

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Market Timing, Spurious Regressions

31.

Collateral and Competition

FRB of Philadelphia Working Paper No. 02-22
Number of pages: 41 Posted: 20 May 2003
Alexander W. Butler and Mitchell Berlin
Rice University - Jesse H. Jones Graduate School of Business and Federal Reserve Bank of Philadelphia - Research Department
Downloads 217 (139,823)
Citation 2

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contracts, collateral, covenants, bank loans, competition

32.

Credit Where Credit Is Due: Drivers of Subprime Credit

Number of pages: 45 Posted: 21 Jun 2017 Last Revised: 01 Jul 2018
Elizabeth Berger, Alexander W. Butler and Erik J. Mayer
Cornell University, Rice University - Jesse H. Jones Graduate School of Business and Southern Methodist University - Cox School of Business
Downloads 180 (167,065)

Abstract:

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auto, credit, creditor rights, collateral, repossession, household, consumer

33.

Financial Innovation and Financial Intermediation: Evidence from Credit Default Swaps

Number of pages: 65 Posted: 14 Jan 2019 Last Revised: 09 Aug 2019
Alexander W. Butler, Xiang Gao and Cihan Uzmanoglu
Rice University - Jesse H. Jones Graduate School of Business, Minnesota State University Moorhead and Binghamton University, The State University of New York
Downloads 178 (167,895)

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Credit default swaps; Financial innovation; Financial intermediation; Underwriting fees; Issuance costs; Corporate bonds; Hedging credit risk; Transaction costs; Bond Ownership

34.

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 (173,955)
Citation 1

Abstract:

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35.

In Good Times or in Bad? Market Conditions, Fundamentals, and the Equity Issuance Decision

Number of pages: 47 Posted: 11 Sep 2008 Last Revised: 08 Sep 2010
Alexander W. Butler and Jay Y. Li
Rice University - Jesse H. Jones Graduate School of Business and City University of Hong Kong
Downloads 148 (196,563)

Abstract:

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36.

Discrimination in the Auto Loan Market

Number of pages: 56 Posted: 02 Jan 2019 Last Revised: 26 Jun 2019
Alexander W. Butler, Erik J. Mayer and James Weston
Rice University - Jesse H. Jones Graduate School of Business, Southern Methodist University - Cox School of Business and Rice University - Jesse H. Jones Graduate School of Business
Downloads 135 (211,787)

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Discrimination, Race, Auto Lending, Household Finance, Household Debt, Credit Access

37.

Clientele Effects Explain the Decline in Corporate Bond Maturities

Number of pages: 56 Posted: 23 Jan 2019 Last Revised: 22 Jul 2019
Alexander W. Butler, Xiang Gao and Cihan Uzmanoglu
Rice University - Jesse H. Jones Graduate School of Business, Minnesota State University Moorhead and Binghamton University, The State University of New York
Downloads 65 (340,737)

Abstract:

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Debt Maturity, Supply of Credit, Demand for Bonds, Insurance Company Ownership, Clientele Effects

38.

Aging and Public Financing Costs: Evidence from U.S. Municipal Bond Markets

Number of pages: 45 Posted: 20 Dec 2018 Last Revised: 14 Jan 2019
Alexander W. Butler and Hanyi Yi
Rice University - Jesse H. Jones Graduate School of Business and Rice University - Jesse H. Jones Graduate School of Business
Downloads 65 (340,737)

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Municipal Finance, Public Finance, Aging, Public Pensions, Demographics

39.

The Worst of Both Worlds: Megamergers are Anticompetitive and Inefficient

SMU Cox School of Business Research Paper
Number of pages: 51 Posted: 15 Jul 2019 Last Revised: 12 Aug 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 20 (519,177)

Abstract:

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Mergers and Acquistions; Megamergers; Merger Gains

40.

A Rookie’s Guide to the Academic Job Market in Finance: The Labor Market for Lemons

Number of pages: 12 Posted: 11 Aug 2019
Alexander W. Butler and Timothy Falcon Crack
Rice University - Jesse H. Jones Graduate School of Business and University of Otago - Department of Accountancy and Finance
Downloads 17 (536,693)

Abstract:

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rookie job market

41.

Revisiting Optimal Call Policy for Convertibles

Financial Analysts Journal, Vol. 58, No. 1
Posted: 08 Mar 2002
Alexander W. Butler
Rice University - Jesse H. Jones Graduate School of Business

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