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

44

DOWNLOADS
Rank 1,148

SSRN RANKINGS

Top 1,148

in Total Papers Downloads

30,020

SSRN CITATIONS
Rank 3,124

SSRN RANKINGS

Top 3,124

in Total Papers Citations

260

CROSSREF CITATIONS

174

Scholarly Papers (44)

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
Downloads 3,721 (3,500)
Citation 1

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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
Downloads 3,263 (4,410)
Citation 1

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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 Cornaggia
Rice University - Jesse H. Jones Graduate School of Business and Pennsylvania State University - Department of Finance
Downloads 2,371 (7,476)
Citation 18

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Solicited bond rating, information production

4.
Downloads 1,828 ( 11,386)
Citation 3

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 and Claremont Colleges - Peter F. Drucker Graduate School of Management
Downloads 1,828 (11,179)
Citation 3

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Research Impact, Journal Ranking, citations

Impact: What Influences Finance Research?

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 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
Downloads 1,313 (19,042)
Citation 2

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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 1,276 (19,898)
Citation 3

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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 878 (33,654)
Citation 40

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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.

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 831 (36,821)
Citation 13

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

9.

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 G. Gurun and Alexander W. Butler
University of Texas at Dallas and Rice University - Jesse H. Jones Graduate School of Business
Downloads 814 (37,887)
Citation 36

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Media Slant, Location, Media, Advertising, Firm Value

10.

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 775 (40,595)
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 768 (40,478)
Citation 34

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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

12.

Racial Discrimination in the Auto Loan Market

Number of pages: 76 Posted: 02 Jan 2019 Last Revised: 01 Apr 2021
Alexander W. Butler, Erik J. Mayer and James Weston
Rice University - Jesse H. Jones Graduate School of Business, Southern Methodist University (SMU) - Finance Department and Rice University - Jesse H. Jones Graduate School of Business
Downloads 766 (41,202)
Citation 7

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

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 and State University of New York at Binghamton - School of Management
Downloads 746 (42,098)
Citation 14

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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

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 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

14.

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 744 (42,853)

Abstract:

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IPO, investment bank, selling concession

15.

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 684 (47,998)
Citation 7

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IPO, initial returns, underpricing, underwriting, going public

16.
Downloads 673 ( 49,076)
Citation 29

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 418 (87,724)

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 (150,848)
Citation 4
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17.

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 663 (49,971)
Citation 7

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18.

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 534 (65,812)
Citation 26

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19.

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 533 (65,985)
Citation 1

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Municipal bonds, corruption, certification, bond insurance

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
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 483 (74,565)
Citation 13

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Market Timing, Financing Decisions, Investment Policy

21.

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

Number of pages: 65 Posted: 02 Sep 2012 Last Revised: 13 Jan 2020
Elizabeth Berger, Alexander W. Butler, Edwin Hu and Morad Zekhnini
University of Houston, Rice University - Jesse H. Jones Graduate School of Business, New York University School of Law and Michigan State University - The Eli Broad College of Business and The Eli Broad Graduate School of Management
Downloads 467 (77,657)
Citation 2

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22.

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 453 (80,558)
Citation 6

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

23.

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 451 (80,954)
Citation 6

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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 421 (87,059)
Citation 17

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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

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 387 (95,990)
Citation 5

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Convertible bonds, call policy

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

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

Abstract:

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Call policy, convertible bonds

26.

Do Local Capital Market Conditions Affect Consumers' Borrowing Decisions?

Management Science, Forthcoming
Number of pages: 33 Posted: 29 Jul 2010 Last Revised: 15 Sep 2020
Alexander W. Butler, Jess Cornaggia and Umit G. Gurun
Rice University - Jesse H. Jones Graduate School of Business, Pennsylvania State University - Department of Finance and University of Texas at Dallas
Downloads 374 (100,624)
Citation 19

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

27.

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 372 (101,253)

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product markets, disclosure, monitoring, choice of financing source

28.

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 G. Gurun
Rice University - Jesse H. Jones Graduate School of Business and University of Texas at Dallas
Downloads 359 (105,355)
Citation 26

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executive compensation, social connections, share voting

29.

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

Number of pages: 64 Posted: 20 Dec 2018 Last Revised: 18 Aug 2021
Alexander W. Butler and Hanyi (Livia) Yi
Rice University - Jesse H. Jones Graduate School of Business and Boston College - Carroll School of Management
Downloads 318 (120,455)
Citation 2

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Local Public Finance, Municipal Bonds, Demographics, Aging

30.

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 314 (122,062)

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

31.

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 296 (129,991)
Citation 2

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Venture capital, soft information, IPO, grandstanding

32.

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 295 (130,445)
Citation 9

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Market Timing, Spurious Regressions

33.

Financial Innovation and Financial Intermediation: Evidence from Credit Default Swaps

Number of pages: 67 Posted: 14 Jan 2019 Last Revised: 08 Nov 2019
Alexander W. Butler, Xiang Gao and Cihan Uzmanoglu
Rice University - Jesse H. Jones Graduate School of Business, University of North Dakota and Binghamton University, The State University of New York
Downloads 268 (144,128)

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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.

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
University of Houston, Rice University - Jesse H. Jones Graduate School of Business and Southern Methodist University (SMU) - Finance Department
Downloads 240 (160,707)
Citation 1

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

35.

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 220 (174,683)
Citation 2

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contracts, collateral, covenants, bank loans, competition

36.

Hand to Mouth: Financial Stress and Food Insecurity

Number of pages: 55 Posted: 08 Mar 2020 Last Revised: 02 Sep 2021
Alexander W. Butler, Irem Demirci, Umit G. Gurun and Yessenia Tellez
Rice University - Jesse H. Jones Graduate School of Business, Nova School of Business and Economics, University of Texas at Dallas and Virginia Tech
Downloads 217 (176,999)

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Financial Stress, Consumption, Personal Finance, Food Insecurity

37.

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
Downloads 208 (184,109)

Abstract:

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rookie job market

38.

Maturity Clienteles and Corporate Bond Maturities

Number of pages: 73 Posted: 23 Jan 2019 Last Revised: 30 Sep 2021
Alexander W. Butler, Xiang Gao and Cihan Uzmanoglu
Rice University - Jesse H. Jones Graduate School of Business, University of North Dakota and Binghamton University, The State University of New York
Downloads 201 (190,027)
Citation 3

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

39.

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 178 (211,737)
Citation 1

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40.

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 University of North Carolina at Greensboro
Downloads 153 (240,601)

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41.

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 Nazarbayev University
Downloads 110 (308,729)

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Mergers and Acquistions; Megamergers; Merger Gains

42.

Are Difference-in-Differences Estimates Blowing Smoke? A Cautionary Tale From an Oft-Used Natural Experiment

Number of pages: 51 Posted: 06 Jul 2021
Anthony Zdrojewski and Alexander W. Butler
Rice University and Rice University - Jesse H. Jones Graduate School of Business
Downloads 49 (483,221)

Abstract:

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banking, deregulation, economic growth, difference-indifferences, two-way fixed effect estimation

43.

The Value of Social Status

NBER Working Paper No. w27979
Number of pages: 16 Posted: 27 Oct 2020
Alexander W. Butler, Bruce Carlin, Alan D. Crane, James Weston and Boyang Liu
Rice University - Jesse H. Jones Graduate School of Business, Rice University, Rice University - Jesse H. Jones Graduate School of Business, Rice University - Jesse H. Jones Graduate School of Business and Novartis Corporation
Downloads 5 (756,652)
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44.

Revisiting Optimal Call Policy for Convertibles

Posted: 08 Mar 2002
Alexander W. Butler
Rice University - Jesse H. Jones Graduate School of Business

Abstract:

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