Art Durnev

University of Iowa - Henry B. Tippie College of Business

Assistant Professor of Finance

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5020 Main Library

Iowa City, IA 52242-1000

United States

http://www.artdurnev.com

  • University of Iowa - Henry B. Tippie College of Business

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SCHOLARLY PAPERS

27

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537

Scholarly Papers (27)

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1.

To Steal or Not to Steal: Firm Attributes, Legal Environment, and Valuation

Downloads 2,463 ( 4,599)
Citation 278

To Steal or Not to Steal: Firm Attributes, Legal Environment, and Valuation

14th Annual Conference on Financial Economics and Accounting (FEA); AFA 2004 San Diego Meetings
Number of pages: 62 Posted: 29 Apr 2003
Art Durnev and E. Han Kim
University of Iowa - Henry B. Tippie College of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 1,367 (12,044)
Citation 278

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Corporate governance, investment opportunities, external financing

To Steal or Not to Steal: Firm Attributes, Legal Environment, and Valuation

University of Michigan Working Paper; Tuck-JQFA Contemporary Corporate Governance Issues II Conference
Number of pages: 62 Posted: 26 Jul 2002
Art Durnev and E. Han Kim
University of Iowa - Henry B. Tippie College of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 1,096 (16,946)
Citation 278

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Corporate Governance, External Financing, Valuation

To Steal or Not to Steal: Firm Attributes, Legal Environment, and Valuation

Journal of Finance, Forthcoming
Posted: 09 Apr 2004
Art Durnev and E. Han Kim
University of Iowa - Henry B. Tippie College of Business and University of Michigan, Stephen M. Ross School of Business

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Corporate Governance, Investment Opportunities, External Financing, Ownership, Legal Environment, Valuation

2.

The Real Effects of Political Uncertainty: Elections and Investment Sensitivity to Stock Prices

Downloads 1,832 ( 7,612)
Citation 9

The Real Effects of Political Uncertainty: Elections and Investment Sensitivity to Stock Prices

Number of pages: 55 Posted: 08 Feb 2010 Last Revised: 25 Dec 2010
Art Durnev
University of Iowa - Henry B. Tippie College of Business
Downloads 1,224 (14,303)
Citation 9

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Political Uncertainty, Elections, Information Asymmetry, Capital Allocation

The Real Effects of Political Uncertainty: Elections and Investment Sensitivity to Stock Prices

Paris December 2010 Finance Meeting EUROFIDAI - AFFI
Number of pages: 55 Posted: 22 Oct 2010 Last Revised: 25 Dec 2010
Art Durnev
University of Iowa - Henry B. Tippie College of Business
Downloads 608 (39,141)
Citation 9

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political uncertainty, elections, information asymmetry, capital allocation

3.

Expropriation Risk and Firm Growth: A Corporate Transparency Channel

Downloads 1,003 ( 19,721)
Citation 5

Expropriation Risk and Firm Growth: A Corporate Transparency Channel

Number of pages: 53 Posted: 11 Oct 2007 Last Revised: 10 May 2011
Art Durnev and Sergei M. Guriev
University of Iowa - Henry B. Tippie College of Business and Sciences Po
Downloads 767 (28,571)
Citation 5

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resource curse, expropriation, transparency, investment efficiency, growth

Expropriation Risk and Firm Growth: A Corporate Transparency Channel

Number of pages: 53 Posted: 29 Dec 2008 Last Revised: 11 May 2011
Art Durnev and Sergei M. Guriev
University of Iowa - Henry B. Tippie College of Business and Sciences Po
Downloads 234 (120,874)
Citation 5

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Resource Curse, Expropriation, Politics and Finance, Corporate Transparency and Disclosure, Investment Efficiency, Industry Growth

The Resource Curse: A Corporate Transparency Channel

CEPR Discussion Paper No. DP6547
Number of pages: 66 Posted: 06 Jun 2008
Art Durnev and Sergei M. Guriev
University of Iowa - Henry B. Tippie College of Business and Sciences Po
Downloads 2 (619,528)
Citation 5
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Autocracy, Expropriation, Industry Growth, Investment Efficiency, Oil Reserves, Property rights, Resource Curse, Transparency and Disclosure

4.

Political Uncertainty and IPO Activity: Evidence from U.S. Gubernatorial Elections

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 76 Posted: 20 Jun 2013 Last Revised: 13 Aug 2016
Gonul Colak, Art Durnev and Yiming Qian
Hanken School of Economics, University of Iowa - Henry B. Tippie College of Business and University of Iowa - Department of Finance
Downloads 843 (25,437)

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political uncertainty, initial public offerings, gubernatorial elections, IPO pricing

5.

Does Greater Firm-Specific Return Variation Mean More or Less Informed Stock Pricing?

Downloads 841 ( 25,537)
Citation 121

Does Greater Firm-Specific Return Variation Mean More or Less Informed Stock Pricing?

Number of pages: 64 Posted: 14 Jun 2001
Art Durnev, Randall Morck, Bernard Yin Yeung and Paul Zarowin
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis, National University of Singapore - Business School and New York University (NYU) - Department of Accounting
Downloads 760 (28,922)
Citation 121

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Stock price informativeness; Functional efficiency

Does Greater Firm-Specific Return Variation Mean More or Less Informed Stock Pricing?

NYU Working Paper No. 2451/27594
Number of pages: 64 Posted: 09 Oct 2008
Art Durnev, Randall Morck, Bernard Yin Yeung and Paul Zarowin
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis, National University of Singapore - Business School and New York University (NYU) - Department of Accounting
Downloads 81 (285,253)
Citation 121

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Does Greater Firm-Specific Return Variation Mean More or Less Informed Stock Pricing?

Journal of Accounting Research, Forthcoming
Posted: 17 Oct 2003
Art Durnev, Randall Morck, Bernard Yin Yeung and Paul Zarowin
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis, National University of Singapore - Business School and New York University (NYU) - Department of Accounting

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Does Greater Firm-Specific Return Variation Mean More or Less Informed Stock Pricing?

Journal of Accounting Research 41(5)797, 2003, University of Alberta School of Business Research Paper No. 2013-614
Posted: 07 Jun 2013
Art Durnev, Randall Morck, Bernard Yin Yeung and Paul Zarowin
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis, National University of Singapore - Business School and New York University (NYU) - Department of Accounting

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6.

Precarious Politics and Return Volatility

Downloads 765 ( 29,128)
Citation 17

Precarious Politics and Return Volatility

Number of pages: 49 Posted: 18 Dec 2008 Last Revised: 28 Jul 2011
Maria Boutchkova, Hitesh Doshi, Art Durnev and Alexander Molchanov
University of Edinburgh, University of Houston - C.T. Bauer College of Business, University of Iowa - Henry B. Tippie College of Business and Massey University
Downloads 642 (36,415)
Citation 17

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Politics, Volatility

Precarious Politics and Return Volatility

Review of Financial Studies, Forthcoming
Number of pages: 49 Posted: 27 Jul 2011
Maria Boutchkova, Art Durnev, Hitesh Doshi and Alexander Molchanov
University of Edinburgh, University of Iowa - Henry B. Tippie College of Business, University of Houston - C.T. Bauer College of Business and Massey University
Downloads 123 (214,110)
Citation 17

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7.

Does Firm-Specific Information in Stock Prices Guide Capital Allocation?

Downloads 680 ( 34,289)
Citation 15

Does Firm-Specific Information in Stock Prices Guide Capital Allocation?

EFA 2001 Barcelona Meetings; EFMA 2001 Lugano Meetings
Number of pages: 67 Posted: 11 Jan 2001
Art Durnev, Randall Morck and Bernard Yin Yeung
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis and National University of Singapore - Business School
Downloads 637 (36,791)
Citation 15

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Capital allocation; Capital budgeting; Corporate investment policy; External financing; Firm-specific variation; Lemons problem; Stock market efficiency; Tobin's q

Does Firm-Specific Information in Stock Prices Guide Capital Allocation?

NBER Working Paper No. w8093
Number of pages: 67 Posted: 19 Jan 2001 Last Revised: 30 Jan 2013
Randall Morck, Bernard Yin Yeung and Art Durnev
University of Alberta - Department of Finance and Statistical Analysis, National University of Singapore - Business School and University of Iowa - Henry B. Tippie College of Business
Downloads 43 (393,366)
Citation 14

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8.

Stealing from Thieves: Expropriation Risk, Firm Governance, and Performance

2nd Annual Conference on Empirical Legal Studies Paper
Number of pages: 46 Posted: 15 Mar 2007 Last Revised: 14 Nov 2011
Art Durnev and Larry Fauver
University of Iowa - Henry B. Tippie College of Business and University of Tennessee, Knoxville - Department of Finance
Downloads 670 (34,976)
Citation 1

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Expropriation, Governance, Disclosure, and Valuation

9.

Capital Markets and Capital Allocation: Implications for Economies in Transition

Downloads 636 ( 37,429)
Citation 24

Capital Markets and Capital Allocation: Implications for Economies in Transition

Number of pages: 62 Posted: 17 Dec 2001
Art Durnev, Randall Morck and Bernard Yin Yeung
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis and National University of Singapore - Business School
Downloads 622 (38,008)
Citation 24

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Transition economies, capital markets, economic growth

Capital Markets and Capital Allocation: Implications for Economies in Transition

Economics of Transition, Vol. 12, No. 4, pp. 593-634, December 2004
Number of pages: 42 Posted: 03 Dec 2004
Art Durnev, Randall Morck, Bernard Yin Yeung and Kan Li
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis, National University of Singapore - Business School and Independent
Downloads 14 (541,758)
Citation 24
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10.

The Real Effects of Disclosure Tone: Evidence from Restatements

Number of pages: 55 Posted: 31 Jul 2010 Last Revised: 09 Mar 2012
Art Durnev and Claudine Mangen
University of Iowa - Henry B. Tippie College of Business and Concordia University, Montreal - John Molson School of Business
Downloads 529 (47,581)
Citation 4

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language tone, restatements, investment

11.

Does Insider Trading Regulation Deter Private Information Trading? International Evidence

Downloads 508 ( 50,106)
Citation 8

Does Insider Trading Regulation Deter Private Information Trading? International Evidence

Number of pages: 37 Posted: 15 Jan 2007
Art Durnev and Amrita Nain
University of Iowa - Henry B. Tippie College of Business and University of Iowa - Henry B. Tippie College of Business
Downloads 372 (72,570)
Citation 8

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Insider trading regulation, ownership wedge, private information trading, earnings opacity

Does Insider Trading Regulation Deter Private Information Trading? International Evidence

Pacific-Basin Finance Journal, Forthcoming
Number of pages: 37 Posted: 23 Dec 2006
Art Durnev and Amrita Nain
University of Iowa - Henry B. Tippie College of Business and University of Iowa - Henry B. Tippie College of Business
Downloads 136 (197,672)
Citation 8

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Insider trading regulation, Ownership wedge, Private information trading, Earnings opacity

12.

Law, Share Price Accuracy and Economic Performance: The New Evidence

Downloads 473 ( 54,849)

Law, Share Price Accuracy and Economic Performance: The New Evidence

Number of pages: 70 Posted: 08 Oct 2003
Merritt B. Fox, Art Durnev, Randall Morck and Bernard Yin Yeung
Columbia University - Law School, University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis and National University of Singapore - Business School
Downloads 473 (54,242)
Citation 14

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Capital Allocation, Stock Price Informativeness, Disclosure, Regulation

Law, Share Price Accuracy and Economic Performance: The New Evidence

Michigan Law Review, Forthcoming
Posted: 08 Oct 2003
Merritt B. Fox, Art Durnev, Randall Morck and Bernard Yin Yeung
Columbia University - Law School, University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis and National University of Singapore - Business School

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Capital Allocation, Stock Price Informativeness, Disclosure, Regulation

13.

Corporate Investments: Learning from Restatements

Downloads 312 ( 89,547)
Citation 19

Corporate Investments: Learning from Restatements

Number of pages: 53 Posted: 29 Mar 2008 Last Revised: 06 Nov 2008
Art Durnev and Claudine Mangen
University of Iowa - Henry B. Tippie College of Business and Concordia University, Montreal - John Molson School of Business
Downloads 295 (94,725)
Citation 19

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restatements, investment efficiency

Corporate Investments: Learning from Restatements

Number of pages: 55 Posted: 27 Apr 2009
Art Durnev and Claudine Mangen
University of Iowa - Henry B. Tippie College of Business and Concordia University, Montreal - John Molson School of Business
Downloads 17 (523,245)
Citation 19

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Corporate Investments: Learning from Restatements

Journal of Accounting Research, Forthcoming
Posted: 04 Nov 2008
Art Durnev and Claudine Mangen
University of Iowa - Henry B. Tippie College of Business and Concordia University, Montreal - John Molson School of Business

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restatements, accounting information, investments

14.

Property Rights Protection, Corporate Transparency, and Growth

Downloads 242 (117,287)
Citation 7

Property Rights Protection, Corporate Transparency, and Growth

Number of pages: 55 Posted: 15 Nov 2008 Last Revised: 02 Jul 2009
Art Durnev, Vihang R. Errunza and Alexander Molchanov
University of Iowa - Henry B. Tippie College of Business, McGill University - Desautels Faculty of Management and Massey University
Downloads 153 (179,335)
Citation 7

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expropriation, transparency, investment

Property Rights Protection, Corporate Transparency, and Growth

Number of pages: 47 Posted: 25 Feb 2009
Art Durnev, Vihang R. Errunza and Alexander Molchanov
University of Iowa - Henry B. Tippie College of Business, McGill University - Desautels Faculty of Management and Massey University
Downloads 89 (268,910)
Citation 7

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Transparency, Investment Efficiency, Growth, Property Rights

Property Rights Protection, Corporate Transparency, and Growth

Journal of International Business Studies, Forthcoming
Posted: 08 Jul 2009
Art Durnev, Vihang R. Errunza and Alexander Molchanov
University of Iowa - Henry B. Tippie College of Business, McGill University - Desautels Faculty of Management and Massey University

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15.

Events and Price Adjustment Accuracy: Evidence from Post-IPO Market

Number of pages: 45 Posted: 16 Jun 2008 Last Revised: 04 Aug 2009
Pat Akey, Art Durnev and Alexander Molchanov
University of Toronto - Rotman School of Management, University of Iowa - Henry B. Tippie College of Business and Massey University
Downloads 240 (118,273)

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Events, IPO, After-market, Efficiency

16.

Foreign Risk - Domestic Problem: Capital Allocation and Performance under Political Instability

Downloads 238 (119,281)

Foreign Risk - Domestic Problem: Capital Allocation and Performance under Political Instability

Number of pages: 49 Posted: 11 May 2012 Last Revised: 09 Aug 2016
Burcin Col, Art Durnev and Alexander Molchanov
Pace University-Lubin School of Business, University of Iowa - Henry B. Tippie College of Business and Massey University
Downloads 148 (184,453)

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Capital Allocation, Political Risk, International Trade

Foreign Risk - Domestic Problem: Trade, Politics, and Capital Allocation

Number of pages: 43 Posted: 02 Sep 2011 Last Revised: 20 May 2012
Art Durnev, Burcin Col and Alexander Molchanov
University of Iowa - Henry B. Tippie College of Business, Pace University-Lubin School of Business and Massey University
Downloads 90 (267,024)

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17.

Politics, Instability, and Composition of International Investment Flows

Number of pages: 44 Posted: 13 Feb 2009 Last Revised: 11 Dec 2014
Art Durnev, Ruben Enikolopov, Maria Petrova and Veronica Santarosa
University of Iowa - Henry B. Tippie College of Business, Institute of Political Economy and Governance, Institute for Political Economy and Governance, Barcelona and University of Michigan Law School
Downloads 198 (142,474)

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international investment flows, political instability, FDI, majority-owned investment

18.

Required Line of Business Reporting and Share Price Accuracy

2nd Annual Conference on Empirical Legal Studies Paper
Number of pages: 106 Posted: 09 Jul 2007 Last Revised: 30 Jan 2013
Art Durnev, Randall Morck, Merritt B. Fox and Bernard Yin Yeung
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis, Columbia University - Law School and National University of Singapore - Business School
Downloads 135 (198,233)

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law and finance, securities law

19.

The Real Effects of Managerial Narratives: Evidence from a Quarter-Billion Words

Number of pages: 50 Posted: 20 May 2012
Art Durnev and Claudine Mangen
University of Iowa - Henry B. Tippie College of Business and Concordia University, Montreal - John Molson School of Business
Downloads 127 (208,087)

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MD&A, disclosure, investment

20.

The Spillover Effects of MD&A Disclosures for Real Investment: The Role of Product Market Competition

CAAA Annual Conference 2012
Number of pages: 48 Posted: 14 Jan 2012 Last Revised: 21 Feb 2015
Art Durnev and Claudine Mangen
University of Iowa - Henry B. Tippie College of Business and Concordia University, Montreal - John Molson School of Business
Downloads 70 (307,417)

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qualitative disclosures, MD&A, investments

21.

Foreign Risk - Domestic Problem: Trade, Capital Allocation, and Performance Under Political Uncertainty

Number of pages: 46 Posted: 24 Feb 2012 Last Revised: 14 Dec 2012
Burcin Col, Art Durnev and Alexander Molchanov
Pace University-Lubin School of Business, University of Iowa - Henry B. Tippie College of Business and Massey University
Downloads 46 (375,719)

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Capital Allocation, Political Risk, International Trade

22.

Privatization and Natural Advantage

Number of pages: 53 Posted: 09 Aug 2015 Last Revised: 11 Aug 2015
Jean-Claude Cosset, Art Durnev and Igor Oliveira dos Santos
HEC Montreal, University of Iowa - Henry B. Tippie College of Business and HEC Montreal
Downloads 36 (412,112)

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Privatization, natural advantage, rent-seeking, agglomeration economies

23.

Explaining Differences in the Quality of Governance Among Companies: Evidence from Emerging Markets

Journal of Applied Corporate Finance, Vol. 19, Issue 1, pp. 16-24, Winter 2007
Number of pages: 11 Posted: 08 Feb 2008
Art Durnev and E. Han Kim
University of Iowa - Henry B. Tippie College of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 18 (499,322)
Citation 7
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24.

Beyond Tax Avoidance: Offshore Firms’ Institutional Environment and Financial Reporting Quality

Journal of Business Finance & Accounting, Vol. 44, Issue 5-6, pp. 646-696, 2017
Number of pages: 51 Posted: 05 May 2017
Art Durnev, Tiemei Li and Michel Magnan
University of Iowa - Henry B. Tippie College of Business, University of Ottawa and Concordia University - Department of Accountancy
Downloads 2 (590,616)
Citation 4
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Offshore Financial Centers, financial reporting quality, earnings management

25.

Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence

CEPR Discussion Paper No. DP9533
Number of pages: 64 Posted: 09 Jul 2013
Rui A. Albuquerque, Art Durnev and Yrjo Koskinen
Boston College, Carroll School of Management, University of Iowa - Henry B. Tippie College of Business and Haskayne School of Business, University of Calgary
Downloads 1 (601,747)
Citation 2
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corporate social responsibility, corporate valuation, customer loyalty, industry equilibrium, systematic risk

26.

Value Enhancing Capital Budgeting & Firm-Specific Stock Returns Variation

Journal of Finance, Vol. 59, No. 1, 2004, University of Alberta School of Business Research Paper No. 2013-611
Posted: 06 Jun 2013
Art Durnev, Randall Morck and Bernard Yin Yeung
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis and National University of Singapore - Business School

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27.

Value Enhancing Capital Budgeting and Firm-Specific Stock Returns Variation

Journal of Finance, Forthcoming
Posted: 17 Oct 2003
Art Durnev, Randall Morck and Bernard Yin Yeung
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis and National University of Singapore - Business School

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Other Papers (3)

Total Downloads: 326    Citations: 6
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1.

Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence

UCD & CalPERS Sustainability & Finance Symposium 2013
Number of pages: 59 Posted: 07 Feb 2013 Last Revised: 09 Jul 2013
Rui A. Albuquerque, Art Durnev and Yrjo Koskinen
Boston College, Carroll School of Management, University of Iowa - Henry B. Tippie College of Business and Haskayne School of Business, University of Calgary
Downloads 230
Citation 2

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corporate social responsibility, customer loyalty, systematic risk, expected return, industry equibrium

2.

Beyond Tax Avoidance: Offshore Firms’ Institutional Environment and Financial Reporting Quality

Journal of Business Finance and Accounting 44 (5-6): 646-696
Number of pages: 51 Posted: 05 Jan 2010 Last Revised: 17 May 2017
Art Durnev, TieMei Li and Michel Magnan
University of Iowa - Henry B. Tippie College of Business, University of Ottawa - School of Management and Concordia University - Department of Accountancy
Downloads 91
Citation 4

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Offshore Financial Centers, financial reporting quality, earnings management

3.

Are Offshore Firms Worth More?

Durnev, Li, and Magnan, Journal of Corporate Finance, Vol. 36, 2016
Number of pages: 50 Posted: 15 Mar 2012 Last Revised: 24 Nov 2017
Art Durnev, TieMei Li and Michel Magnan
University of Iowa - Henry B. Tippie College of Business, University of Ottawa - School of Management and Concordia University - Department of Accountancy
Downloads 5 (189,089)

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Offshore Financial Centers, Firm Value, Information Asymmetry, Agency costs