Thomas W. Bates

Arizona State University - Department of Finance

Associate Professor

W. P. Carey School of Business

PO Box 873906

Tempe, AZ 85287-3906

United States

  • Arizona State University - Department of Finance

SCHOLARLY PAPERS

12

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SSRN CITATIONS
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335

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845

Scholarly Papers (12)

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1.

Corporate Governance and Firm Diversification

Number of pages: 39 Posted: 03 Sep 1998
Ronald C. Anderson, John M. Bizjak, Michael L. Lemmon and Thomas W. Bates
Temple University - Department of Finance, Texas Christian University, University of Utah - Department of Finance and Arizona State University - Department of Finance
Downloads 3,503 (4,513)
Citation 18

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2.

Why Do U.S. Firms Hold so Much More Cash than They Used to?

Downloads 3,023 ( 5,825)
Citation 502

Why Do U.S. Firms Hold so Much More Cash than They Used to?

Fisher College of Business Working Paper No. 2007-03-006, Charles A. Dice Center Working Paper No. 2006-17
Number of pages: 50 Posted: 04 Sep 2006 Last Revised: 16 May 2008
Thomas W. Bates, Kathleen M. Kahle and René M. Stulz
Arizona State University - Department of Finance, University of Arizona - Department of Finance and Ohio State University (OSU) - Department of Finance
Downloads 2,819 (6,429)
Citation 5

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Why Do U.S. Firms Hold so Much More Cash than They Used to?

NBER Working Paper No. w12534
Number of pages: 32 Posted: 29 Sep 2006 Last Revised: 02 Apr 2022
Thomas W. Bates, Kathleen M. Kahle and René M. Stulz
Arizona State University - Department of Finance, University of Arizona - Department of Finance and Ohio State University (OSU) - Department of Finance
Downloads 204 (207,535)
Citation 108

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3.

Board Classification and Managerial Entrenchment: Evidence from the Market for Corporate Control

HKUST Business School Research Paper No. 07-05
Number of pages: 45 Posted: 10 Aug 2006 Last Revised: 22 Oct 2007
David Becher, Thomas W. Bates and Michael L. Lemmon
Drexel University, Arizona State University - Department of Finance and University of Utah - Department of Finance
Downloads 1,336 (21,057)
Citation 17

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Classified Board, Staggered Board, Merger, Acquisition, Managerial Entrenchment

4.

Why Has the Value of Cash Increased Over Time?

Journal of Financial and Quantitative Analysis (JFQA), 2018, Volume 53, Issue 2, 749-787.
Number of pages: 58 Posted: 23 Dec 2011 Last Revised: 25 Apr 2018
Thomas W. Bates, Chinghung (Henry) Chang and J. Daniel Chi
Arizona State University - Department of Finance, National Taiwan University - College of Management and University of Nevada, Las Vegas (UNLV) - Department of Finance
Downloads 1,090 (28,436)
Citation 19

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Cash Holdings; Value of Cash; Financing Frictions; Speed of Adjustment; Agency Conflicts

5.

Shareholder Wealth Effects and Bid Negotiation in Freeze-Out Deals: Are Minority Shareholders Left Out in the Cold?

Journal of Financial Economics (JFE), Vol. 81, No. 3, 2006
Number of pages: 44 Posted: 24 Aug 2004 Last Revised: 04 Mar 2018
Thomas W. Bates, Michael L. Lemmon and James S. Linck
Arizona State University - Department of Finance, University of Utah - Department of Finance and Southern Methodist University (SMU) - Finance Department
Downloads 954 (34,390)
Citation 10

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Merger, tender offer, acquisition, minority shareholder, squeeze-out, freeze-out

6.

Breaking Up is Hard to Do? An Analysis of Termination Fee Provisions and Merger Outcomes

Downloads 918 ( 36,320)

Breaking Up is Hard to Do? An Analysis of Termination Fee Provisions and Merger Outcomes

Univ. of Delaware Coll. of Bus. and Econ. Ctr. for Corp. Governance Working Paper No. 2002-005
Number of pages: 51 Posted: 19 Feb 2003
Thomas W. Bates and Michael L. Lemmon
Arizona State University - Department of Finance and University of Utah - Department of Finance
Downloads 918 (35,794)
Citation 37

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merger, acquisition, termination fee, breakup fee

Breaking Up is Hard to Do? An Analysis of Termination Fee Provisions and Merger Outcomes

Posted: 19 Feb 2003
Thomas W. Bates and Michael L. Lemmon
Arizona State University - Department of Finance and University of Utah - Department of Finance

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merger, acquisition, termination fee, breakup fee

7.

Workplace Automation and Corporate Financial Policy

Number of pages: 70 Posted: 31 Mar 2020 Last Revised: 08 Feb 2021
Thomas W. Bates, Fangfang Du and Jessie Jiaxu Wang
Arizona State University - Department of Finance, California State University, Fullerton and Arizona State University (ASU) - W.P. Carey School of Business
Downloads 621 (61,095)
Citation 1

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Labor and finance; Corporate financial policy; Substitutability of labor with automated capital; Operating leverage; Artificial intelligence; Automation

8.

Bid Resistance by Takeover Targets: Managerial Bargaining or Bad Faith?

Downloads 603 ( 63,697)
Citation 5

Bid Resistance by Takeover Targets: Managerial Bargaining or Bad Faith?

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming, AFA 2012 Chicago Meetings Paper
Number of pages: 47 Posted: 19 Mar 2011 Last Revised: 18 Jun 2017
Thomas W. Bates and David Becher
Arizona State University - Department of Finance and Drexel University
Downloads 499 (80,005)

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Bid Resistance by Takeover Targets: Managerial Bargaining or Bad Faith?

Paris December 2012 Finance Meeting EUROFIDAI-AFFI Paper
Number of pages: 47 Posted: 05 Jun 2012 Last Revised: 04 Sep 2015
Thomas W. Bates and David Becher
Arizona State University - Department of Finance and Drexel University
Downloads 104 (355,660)
Citation 4

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classified boards, hostile bids, mergers and acquisitions, CEO turnover

9.

Pay-for-Performance and Firm Diversification

Number of pages: 37 Posted: 02 Jun 1997
Thomas W. Bates, Michael L. Lemmon and John M. Bizjak
Arizona State University - Department of Finance, University of Utah - Department of Finance and Texas Christian University
Downloads 485 (83,136)

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10.

Asset Sales, Investment Opportunities, and the Use of Proceeds

Number of pages: 47 Posted: 06 Sep 2004
Thomas W. Bates
Arizona State University - Department of Finance
Downloads 411 (100,911)
Citation 6

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Asset Sale, Payout Policy

11.

Performance-Based Turnover on Corporate Boards

Downloads 386 (108,538)
Citation 8

Performance-Based Turnover on Corporate Boards

Number of pages: 51 Posted: 03 Sep 2015 Last Revised: 25 Oct 2017
Thomas W. Bates, David Becher and Jared I. Wilson
Arizona State University - Department of Finance, Drexel University and Indiana University - Kelley School of Business
Downloads 311 (136,532)
Citation 6

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Director turnover, firm performance, board seats, replacement directors

Performance-Based Turnover on Corporate Boards

Paris December 2018 Finance Meeting EUROFIDAI - AFFI
Number of pages: 52 Posted: 05 Jun 2018
Thomas W. Bates, David Becher and Jared I. Wilson
Arizona State University - Department of Finance, Drexel University and Indiana University - Kelley School of Business
Downloads 75 (435,706)
Citation 6

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director turnover, firm performance, board seats, replacement directors

12.

Financing Acquisitions with Earnouts

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 52 Posted: 09 Oct 2017 Last Revised: 03 Aug 2018
Thomas W. Bates, Jordan Neyland and Yolanda Yulong Wang
Arizona State University - Department of Finance, Antonin Scalia Law School - George Mason University and Shenzhen University
Downloads 255 (168,098)
Citation 1

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earnouts, corporate acquisitions, corporate finance, disclosure policy