Heitor Almeida

University of Illinois at Urbana-Champaign

Stanley C. and Joan J. Golder Professor of Corporate Finance

515 East Gregory Drive

4037 BIF

Champaign, IL 61820

United States

http://www.business.illinois.edu/FacultyProfile/faculty_profile.aspx?ID=11357

National Bureau of Economic Research (NBER)

Research Associate

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • University of Illinois at Urbana-Champaign

SCHOLARLY PAPERS

45

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36,631

SSRN CITATIONS
Rank 229

SSRN RANKINGS

Top 229

in Total Papers Citations

1,374

CROSSREF CITATIONS

1,925

Scholarly Papers (45)

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1.

The Cash Flow Sensitivity of Cash

Downloads 3,302 ( 5,035)

The Cash Flow Sensitivity of Cash

Number of pages: 34 Posted: 23 May 2003
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Ohio State University (OSU) - Department of Finance
Downloads 3,302 (4,943)
Citation 321

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Cash flow sensitivity of cash, financial constraints, cash policy, macroeconomic innovations

The Cash Flow Sensitivity of Cash

AFA 2004 San Diego Meetings
Posted: 24 Jul 2003
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Ohio State University (OSU) - Department of Finance

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Cash flow sensitivity of cash, financial constraints, cash policy, macroeconomic innovations

2.

Financial Constraints and Investment-Cash Flow Sensitivities: New Research Directions

Twelfth Annual Utah Winter Finance Conference
Number of pages: 26 Posted: 29 Jan 2002
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 2,532 (7,731)
Citation 36

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investment, cash-flow, investment-cash flow sensitivities, financial constraints, credit rationing

3.

A Theory of Pyramidal Ownership and Family Business Groups

Downloads 2,514 ( 7,821)
Citation 152

A Theory of Pyramidal Ownership and Family Business Groups

Number of pages: 50 Posted: 17 May 2005
Heitor Almeida and Daniel Wolfenzon
University of Illinois at Urbana-Champaign and Columbia University - Columbia Business School, Finance
Downloads 2,378 (8,356)
Citation 17

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pyramids, business groups, family firms, investor protection, ownership structure, dual-class shares.

A Theory of Pyramidal Ownership and Family Business Groups

NBER Working Paper No. w11368
Number of pages: 51 Posted: 24 Jun 2005 Last Revised: 25 Jul 2022
Heitor Almeida and Daniel Wolfenzon
University of Illinois at Urbana-Champaign and Columbia University - Columbia Business School, Finance
Downloads 136 (292,907)
Citation 17

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4.

The Real Effects of Share Repurchases

Forthcoming, Journal of Financial Economics (JFE)
Number of pages: 58 Posted: 08 Jun 2013 Last Revised: 19 Jun 2015
Heitor Almeida, Vyacheslav Fos and Mathias Kronlund
University of Illinois at Urbana-Champaign, Boston College - Department of Finance and Tulane University
Downloads 2,476 (7,998)
Citation 40

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Share repurchases, employment, investment, regression discontinuity

5.

Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies

Downloads 1,775 ( 13,697)
Citation 185

Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies

London Business School IFA Working Paper Series
Number of pages: 50 Posted: 19 Jan 2005
Heitor Almeida, Viral V. Acharya, Viral V. Acharya and Murillo Campello
University of Illinois at Urbana-Champaign, ProfessorNew York University - Leonard N. Stern School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 1,674 (14,761)
Citation 2

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Risk management, financing frictions, investment, cash savings, debt capacity

Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies

NBER Working Paper No. w11391
Number of pages: 55 Posted: 06 Jul 2005 Last Revised: 16 Feb 2022
Viral V. Acharya, Viral V. Acharya, Heitor Almeida and Murillo Campello
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 79 (423,045)
Citation 35

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Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies

Number of pages: 52 Posted: 26 May 2005
Viral V. Acharya, Viral V. Acharya, Heitor Almeida and Murillo Campello
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 22 (708,099)
Citation 22
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Cash holdings, debt policies, hedging, financing constraints, risk management

Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies

Journal of Financial Intermediation, Forthcoming
Posted: 30 Apr 2007
Viral V. Acharya, Viral V. Acharya, Heitor Almeida and Murillo Campello
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management

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Risk management, financing frictions, investment, cash policy, debt capacity

6.

Powerful CEOS and Their Impact on Corporate Performance

Downloads 1,680 ( 14,928)
Citation 83

Powerful CEOS and Their Impact on Corporate Performance

AFA 2004 San Diego Meetings; EFA 2002 Berlin Meetings Discussion Paper
Number of pages: 36 Posted: 11 Nov 2003
Heitor Almeida, Renee B. Adams and Daniel Ferreira
University of Illinois at Urbana-Champaign, University of Oxford and London School of Economics - Department of Finance
Downloads 1,680 (14,673)
Citation 86

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Powerful CEOS and Their Impact on Corporate Performance

The Review of Financial Studies, Vol. 18, Issue 4, pp. 1403-1432, 2005
Posted: 29 Feb 2008
Renee B. Adams, Heitor Almeida and Daniel Ferreira
University of Oxford, University of Illinois at Urbana-Champaign and London School of Economics - Department of Finance

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brain metastases, HRQoL, stereotactic radiosurgery

7.

Financial Constraints, Asset Tangibility, and Corporate Investment

Downloads 1,600 ( 16,069)
Citation 193

Financial Constraints, Asset Tangibility, and Corporate Investment

AFA 2005 Philadelphia Meetings, Forthcoming
Number of pages: 45 Posted: 31 Aug 2004
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 1,510 (17,261)
Citation 6

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Investment-cash flow sensitivities, asset tangibility, financial constraints, credit multiplier, errors-in-variables, GMM

Financial Constraints, Asset Tangibility, and Corporate Investment

NBER Working Paper No. w12087
Number of pages: 37 Posted: 11 May 2006 Last Revised: 13 Jul 2022
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 90 (390,930)
Citation 51

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Financial Constraints, Asset Tangibility, and Corporate Investment

Review of Financial Studies, Vol. 20, Issue 5, pp. 1429-1460, 2007
Posted: 25 Jun 2008
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management

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G31

8.

The Real Effects of Credit Ratings: The Sovereign Ceiling Channel

Journal of Finance, Forthcoming
Number of pages: 75 Posted: 03 Nov 2013 Last Revised: 05 Oct 2017
Heitor Almeida, Igor Cunha, Miguel A. Ferreira and Felipe Restrepo
University of Illinois at Urbana-Champaign, University of Kentucky, Nova School of Business and Economics and University of Western Ontario - Richard Ivey School of Business
Downloads 1,567 (16,595)
Citation 28

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Credit ratings, Sovereign bonds, Sovereign ceiling, Cost of capital, Investment, Capital structure

9.

Less is More: Financial Constraints and Innovative Efficiency

Number of pages: 59 Posted: 09 May 2011 Last Revised: 21 Sep 2018
Heitor Almeida, Po-Hsuan Hsu and Dongmei Li
University of Illinois at Urbana-Champaign, National Tsing Hua University - Department of Quantitative Finance and University of South Carolina - Darla Moore School of Business - Department of Finance
Downloads 1,361 (20,515)
Citation 4

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innovative efficiency, financial constraints

10.

Understanding the Relationship between Founder-CEOs and Firm Performance

Journal of Empirical Finance, Forthcoming
Number of pages: 37 Posted: 19 Nov 2003 Last Revised: 23 Jul 2012
Renee B. Adams, Heitor Almeida and Daniel Ferreira
University of Oxford, University of Illinois at Urbana-Champaign and London School of Economics - Department of Finance
Downloads 1,319 (21,485)
Citation 78

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founders, family firms, founder-CEO succession

11.

Corporate Financial and Investment Policies when Future Financing is Not Frictionless

Downloads 1,231 ( 23,860)
Citation 68

Corporate Financial and Investment Policies when Future Financing is Not Frictionless

Charles A. Dice Center Working Paper No. 2008-16 and Fisher College of Business Working Paper No. 2008-03-015
Number of pages: 37 Posted: 15 Nov 2006 Last Revised: 27 Sep 2010
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Ohio State University (OSU) - Department of Finance
Downloads 1,158 (25,657)
Citation 2

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financial constraints, types of investment, capital budgeting, risk shifting

Corporate Financial and Investment Policies When Future Financing is Not Frictionless

NBER Working Paper No. w12773
Number of pages: 41 Posted: 23 Dec 2006 Last Revised: 28 May 2022
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Ohio State University (OSU) - Department of Finance
Downloads 73 (442,588)
Citation 15

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12.

The Risk-Adjusted Cost of Financial Distress

Downloads 1,206 ( 24,591)
Citation 120

The Risk-Adjusted Cost of Financial Distress

8th Annual Texas Finance Festival
Number of pages: 44 Posted: 29 Sep 2005
Heitor Almeida and Thomas Philippon
University of Illinois at Urbana-Champaign and New York University (NYU) - Department of Finance
Downloads 1,114 (27,180)
Citation 1

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Bankrupcty, corporate valuation, capital structure, default risk, yield spreads, debt conservatism

The Risk-Adjusted Cost of Financial Distress

NBER Working Paper No. w11685
Number of pages: 54 Posted: 15 Dec 2005 Last Revised: 06 Jun 2022
Heitor Almeida and Thomas Philippon
University of Illinois at Urbana-Champaign and New York University (NYU) - Department of Finance
Downloads 92 (385,486)
Citation 19

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13.

Liquidity Mergers

Downloads 1,113 ( 27,643)
Citation 11

Liquidity Mergers

Journal of Financial Economics (JFE), Forthcoming, AFA 2010 Atlanta Meetings Paper
Number of pages: 66 Posted: 18 Mar 2009 Last Revised: 14 Feb 2012
Heitor Almeida, Murillo Campello and Dirk Hackbarth
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Boston University - Department of Finance & Economics
Downloads 1,076 (28,544)
Citation 11

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Mergers and acquisitions, credit lines, cash, asset specificity, financial distress

Liquidity Mergers

NBER Working Paper No. w16724
Number of pages: 67 Posted: 31 Jan 2011 Last Revised: 14 Mar 2021
Heitor Almeida, Murillo Campello and Dirk Hackbarth
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Boston University - Department of Finance & Economics
Downloads 37 (602,117)
Citation 1

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14.

Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis

Downloads 1,043 ( 30,368)
Citation 31

Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis

Number of pages: 50 Posted: 17 May 2009 Last Revised: 15 Sep 2011
Heitor Almeida, Murillo Campello, Bruno A. Laranjeira and Scott J. Weisbenner
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Finance
Downloads 906 (36,474)
Citation 17

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Financial crisis, debt maturity, matching estimators, investment spending, financing constraints

Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis

NBER Working Paper No. w14990
Number of pages: 36 Posted: 26 May 2009 Last Revised: 18 Jun 2022
Heitor Almeida, Murillo Campello, Bruno A. Laranjeira and Scott J. Weisbenner
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Finance
Downloads 137 (292,907)
Citation 15

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15.

Financing Frictions and the Substitution Between Internal and External Funds

AFA 2008 New Orleans Meetings Paper
Number of pages: 36 Posted: 19 Mar 2007 Last Revised: 23 Apr 2008
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 971 (33,562)
Citation 8

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Capital structure, external financing, pecking order, financial constraints, investment, GMM, business cycles

16.

The Financial Accelerator: Evidence from International Housing Markets

AFA 2007 Chicago Meetings Paper
Number of pages: 32 Posted: 18 Mar 2006
Heitor Almeida, Crocker H. Liu and Murillo Campello
University of Illinois at Urbana-Champaign, Arizona State University and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 864 (39,549)
Citation 34

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financial accelerator, housing prices, collateral constraint, income constraint, credit multiplier

17.

Internal Capital Markets in Business Groups: Evidence from the Asian Financial Crisis

Downloads 808 ( 43,329)
Citation 53

Internal Capital Markets in Business Groups: Evidence from the Asian Financial Crisis

Journal of Finance, Forthcoming
Number of pages: 72 Posted: 18 Sep 2011 Last Revised: 13 Feb 2015
Heitor Almeida, Chang Soo Kim and Hwanki Brian Kim
University of Illinois at Urbana-Champaign, Yonsei University - Department of Medical Engineering and Baylor University - Department of Finance, Insurance & Real Estate
Downloads 479 (83,684)
Citation 49

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Chaebol, corporate investment, difference-in-differences matching estimator, family firms, capital reallocation

The Effect of Internal Capital Markets on Corporate Investment: Evidence from the Asian Financial Crisis

AFA 2013 San Diego Meetings Paper
Number of pages: 43 Posted: 15 Mar 2012
Heitor Almeida and Chang Soo Kim
University of Illinois at Urbana-Champaign and Yonsei University - Department of Medical Engineering
Downloads 329 (128,809)
Citation 2

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Business groups, chaebol, difference-in-differences matching estimator, family firms, capital reallocation

18.

More Cash, Less Innovation: The Effect of the American Jobs Creation Act on Patent Value

Number of pages: 54 Posted: 18 Apr 2017 Last Revised: 05 Jan 2021
Heitor Almeida, Po-Hsuan Hsu, Dongmei Li and Kevin Tseng
University of Illinois at Urbana-Champaign, National Tsing Hua University - Department of Quantitative Finance, University of South Carolina - Darla Moore School of Business - Department of Finance and National Taiwan University - Department of Finance
Downloads 717 (50,736)
Citation 9

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Financial Slack, Innovation Strategy, Agency Problem

19.

Should Business Groups Be Dismantled? The Equilibrium Costs of Efficient Internal Capital Markets

Downloads 672 ( 55,267)
Citation 53

Should Business Groups Be Dismantled? The Equilibrium Costs of Efficient Internal Capital Markets

AFA 2005 Philadelphia Meetings
Number of pages: 40 Posted: 05 Jan 2005
Heitor Almeida and Daniel Wolfenzon
University of Illinois at Urbana-Champaign and Columbia University - Columbia Business School, Finance
Downloads 457 (88,553)
Citation 3

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capital allocation, conglomerates, investor protection, internal capital markets

Should Business Groups Be Dismantled? The Equilibrium Costs of Efficient Internal Capital Markets

Journal of Financial Economics, Forthcoming
Number of pages: 51 Posted: 01 Jun 2005
Heitor Almeida and Daniel Wolfenzon
University of Illinois at Urbana-Champaign and Columbia University - Columbia Business School, Finance
Downloads 215 (197,688)
Citation 6

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Capital allocation, Conglomerates, Investor protection, Internal capital markets

20.

The Working Capital Credit Multiplier

29th Annual Conference on Financial Economics & Accounting 2018
Number of pages: 60 Posted: 16 Nov 2017 Last Revised: 12 May 2021
Heitor Almeida, Daniel R. Carvalho and Taehyun Kim
University of Illinois at Urbana-Champaign, Indiana University - Kelley School of Business and Chung-Ang University
Downloads 629 (60,153)
Citation 3

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financial accelerator, seasonality, funding frictions, accounts payable, short-term financial planning

21.

Corporate Liquidity Management: A Conceptual Framework and Survey

Downloads 590 ( 65,237)
Citation 42

Corporate Liquidity Management: A Conceptual Framework and Survey

Fisher College of Business Working Paper No. 2013-03-15, Charles A. Dice Center Working Paper No. 2013-15
Number of pages: 46 Posted: 06 Oct 2013
Heitor Almeida, Murillo Campello, Igor Cunha and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Kentucky and Ohio State University (OSU) - Department of Finance
Downloads 547 (70,997)
Citation 1

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Liquidity, Cash, Financial Constraints, Financial Crisis

Corporate Liquidity Management: A Conceptual Framework and Survey

NBER Working Paper No. w19502
Number of pages: 46 Posted: 05 Oct 2013 Last Revised: 16 Apr 2022
Heitor Almeida, Murillo Campello, Igor Cunha and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Kentucky and Ohio State University (OSU) - Department of Finance
Downloads 43 (568,931)
Citation 15

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Corporate Liquidity Management: A Conceptual Framework and Survey

Annual Review of Financial Economics, Vol. 6, pp. 135-162, 2014
Posted: 25 Nov 2014
Heitor Almeida, Murillo Campello, Igor Cunha and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Kentucky and Ohio State University (OSU) - Department of Finance

Abstract:

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22.

Credit Lines as Monitored Liquidity Insurance: Theory and Evidence

Downloads 559 ( 69,823)
Citation 63

Credit Lines as Monitored Liquidity Insurance: Theory and Evidence

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 61 Posted: 21 Mar 2012 Last Revised: 15 Apr 2013
Viral V. Acharya, Viral V. Acharya, Heitor Almeida, Filippo Ippolito, Filippo Ippolito and Ander Perez-Orive
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign, Universitat Pompeu Fabra - Faculty of Economic and Business SciencesBarcelona Graduate School of Economics and Board of Governors of the Federal Reserve System
Downloads 489 (81,635)
Citation 2

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Liquidity management, cash holdings, liquidity risk, hedging, covenants, loan commitments, credit line revocation

Credit Lines as Monitored Liquidity Insurance: Theory and Evidence

Number of pages: 65 Posted: 13 Jun 2012
Filippo Ippolito, Filippo Ippolito, Viral V. Acharya, Viral V. Acharya, Heitor Almeida and Ander Perez-Orive
Universitat Pompeu Fabra - Faculty of Economic and Business SciencesBarcelona Graduate School of Economics, ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Board of Governors of the Federal Reserve System
Downloads 56 (507,168)
Citation 2

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Liquidity management, cash holdings, liquidity risk, hedging, covenants, loan commitments, credit line revocation

Credit Lines as Monitored Liquidity Insurance: Theory and Evidence

NBER Working Paper No. w18892
Number of pages: 62 Posted: 15 Mar 2013 Last Revised: 14 Feb 2021
Viral V. Acharya, Viral V. Acharya, Heitor Almeida, Filippo Ippolito, Filippo Ippolito and Ander Perez-Orive
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign, Universitat Pompeu Fabra - Faculty of Economic and Business SciencesBarcelona Graduate School of Economics and Board of Governors of the Federal Reserve System
Downloads 14 (779,753)
Citation 21

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23.

Do Short-term Incentives Hurt Innovation?

Number of pages: 54 Posted: 05 Sep 2020 Last Revised: 04 Apr 2022
Heitor Almeida, Vyacheslav Fos, Po-Hsuan Hsu, Mathias Kronlund and Kevin Tseng
University of Illinois at Urbana-Champaign, Boston College - Department of Finance, National Tsing Hua University - Department of Quantitative Finance, Tulane University and National Taiwan University - Department of Finance
Downloads 544 (72,421)

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Innovation, short-termism, EPS management, patents, trademarks, exploration

24.

Credit Lines and the Liquidity Insurance Channel

Number of pages: 42 Posted: 15 Jun 2016 Last Revised: 23 Jun 2018
Viral V. Acharya, Viral V. Acharya, Heitor Almeida, Filippo Ippolito, Filippo Ippolito and Ander Perez-Orive
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign, Universitat Pompeu Fabra - Faculty of Economic and Business SciencesBarcelona Graduate School of Economics and Board of Governors of the Federal Reserve System
Downloads 500 (80,231)
Citation 11

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liquidity management, cash holdings, liquidity risk, investment, lending channel, credit lines

25.

The Structure and Formation of Business Groups: Evidence from Korean Chaebols

Downloads 441 ( 93,067)
Citation 62

The Structure and Formation of Business Groups: Evidence from Korean Chaebols

NYU Working Paper No. FIN-08-012
Number of pages: 57 Posted: 09 Mar 2009 Last Revised: 15 Sep 2011
Heitor Almeida, Sang Yong Park, Marti G. Subrahmanyam and Daniel Wolfenzon
University of Illinois at Urbana-Champaign, Yonsei University, New York University (NYU) - Leonard N. Stern School of Business and Columbia University - Columbia Business School, Finance
Downloads 401 (103,050)
Citation 13

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Business groups, family firms, firm performance, pyramids, cross-shareholdings, parent company discount

The Structure and Formation of Business Groups: Evidence from Korean Chaebols

NBER Working Paper No. w14983
Number of pages: 48 Posted: 26 May 2009 Last Revised: 11 Jun 2022
Heitor Almeida, Sang Yong Park, Marti G. Subrahmanyam and Daniel Wolfenzon
University of Illinois at Urbana-Champaign, Yonsei University, New York University (NYU) - Leonard N. Stern School of Business and Columbia University - Columbia Business School, Finance
Downloads 40 (585,187)

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26.

Democracy and the Variability of Economic Performance

Downloads 428 ( 96,404)
Citation 23

Democracy and the Variability of Economic Performance

Number of pages: 54 Posted: 18 Mar 2002
Heitor Almeida and Daniel Ferreira
University of Illinois at Urbana-Champaign and London School of Economics - Department of Finance
Downloads 396 (104,587)

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Democracy, autocracy, growth, variability, fallibility, centralization of decision-making

Democracy and the Variability of Economic Performance

Economics and Politics, Vol. 14, pp. 225-257, 2002
Number of pages: 33 Posted: 06 Feb 2003
Heitor Almeida and Daniel Ferreira
University of Illinois at Urbana-Champaign and London School of Economics - Department of Finance
Downloads 32 (633,117)
Citation 2

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27.

Do Short-Term Incentives Affect Long-Term Productivity?

Downloads 424 ( 97,995)
Citation 2

Do Short-Term Incentives Affect Long-Term Productivity?

European Corporate Governance Institute – Finance Working Paper No. 662/2020
Number of pages: 58 Posted: 01 Jul 2019 Last Revised: 01 Sep 2021
Heitor Almeida, Nuri Ersahin, Vyacheslav Fos, Rustom M. Irani and Mathias Kronlund
University of Illinois at Urbana-Champaign, Michigan State University-Department of Finance, Boston College - Department of Finance, University of Illinois at Urbana-Champaign - Department of Finance and Tulane University
Downloads 423 (97,390)
Citation 3

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Productivity, Employment, Labor unions, Investment, Short-termism, Share repurchases

Do Short-Term Incentives Affect Long-Term Productivity?

CEPR Discussion Paper No. DP13894
Number of pages: 46 Posted: 02 Aug 2019
Heitor Almeida, Nuri Ersahin, Vyacheslav Fos, Rustom M. Irani and Mathias Kronlund
University of Illinois at Urbana-Champaign, Michigan State University-Department of Finance, Boston College - Department of Finance, University of Illinois at Urbana-Champaign - Department of Finance and Tulane University
Downloads 1 (931,728)
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employment, investment, Labor Unions, productivity, Share repurchases, Short-termism

28.

Is It Time to Get Rid of Earnings-per-Share (EPS)?

Number of pages: 53 Posted: 06 Dec 2018
Heitor Almeida
University of Illinois at Urbana-Champaign
Downloads 377 (111,514)
Citation 1

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Short-Termism, Stock Repurchases, R&D Investments, Employment, Mergers, Executive Compensation

29.

Liquidity Management During the COVID-19 Pandemic

Asia-Pacific Journal of Financial Studies, Forthcoming
Number of pages: 23 Posted: 12 Jan 2021
Heitor Almeida
University of Illinois at Urbana-Champaign
Downloads 364 (115,985)
Citation 1

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Cash, credit lines, Coronavirus, debt, financial markets

30.

Are Share Repurchases Really Flexible?

Number of pages: 44 Posted: 07 Dec 2015 Last Revised: 13 Jun 2021
Heitor Almeida, Ruidi Huang and Yuhai Xuan
University of Illinois at Urbana-Champaign, Southern Methodist University (SMU) - Finance Department and University of California, Irvine - Paul Merage School of Business
Downloads 317 (134,583)

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31.

Measurement Errors in Investment Equations

Downloads 307 (139,289)
Citation 10

Measurement Errors in Investment Equations

Number of pages: 52 Posted: 23 Mar 2010 Last Revised: 06 Apr 2010
Heitor Almeida, Murillo Campello and Antonio F. Galvao
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Illinois at Urbana-Champaign - Department of Economics
Downloads 265 (161,279)
Citation 10

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Investment equations, measurement error, Monte Carlo simulations, instrumental variables, GMM

Measurement Errors in Investment Equations

NBER Working Paper No. w15951
Number of pages: 55 Posted: 03 May 2010 Last Revised: 03 Aug 2022
Heitor Almeida, Murillo Campello and Antonio F. Galvao
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Illinois at Urbana-Champaign - Department of Economics
Downloads 42 (574,243)

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32.

Risk Management with Supply Contracts

Downloads 296 (144,629)
Citation 13

Risk Management with Supply Contracts

Accepted, The Review of Financial Studies
Number of pages: 58 Posted: 04 Jun 2016 Last Revised: 23 Mar 2017
Heitor Almeida, Kristine Watson Hankins and Ryan Williams
University of Illinois at Urbana-Champaign, University of Kentucky and University of Arizona - Department of Finance
Downloads 268 (159,409)

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Risk management, supply contracts, liquidity management

Risk Management with Supply Contracts

NBER Working Paper No. w23331
Number of pages: 59 Posted: 17 Apr 2017 Last Revised: 02 Apr 2022
Heitor Almeida, Kristine Watson Hankins and Ryan Williams
University of Illinois at Urbana-Champaign, University of Kentucky and University of Arizona - Department of Finance
Downloads 28 (660,840)
Citation 7

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33.

Aggregate Risk and the Choice between Cash and Lines of Credit

Downloads 295 (145,135)
Citation 86

Aggregate Risk and the Choice between Cash and Lines of Credit

Journal of Finance, Forthcoming
Number of pages: 85 Posted: 01 Aug 2012
Viral V. Acharya, Viral V. Acharya, Heitor Almeida and Murillo Campello
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 233 (182,952)

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bank lines of credit, cash holdings, liquidity management, systematic risk, loan spreads, loan

Aggregate Risk and the Choice between Cash and Lines of Credit

NBER Working Paper No. w16122
Number of pages: 48 Posted: 29 Jun 2010 Last Revised: 22 Jul 2022
Viral V. Acharya, Viral V. Acharya, Heitor Almeida and Murillo Campello
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
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Citation 9

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Aggregate Risk and the Choice between Cash and Lines of Credit

CEPR Discussion Paper No. DP8913
Number of pages: 67 Posted: 04 Apr 2012
Viral V. Acharya, Viral V. Acharya, Heitor Almeida and Murillo Campello
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
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Citation 24
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asset beta, bank lines of credit, cash holdings, liquidity management, loan maturity, loan spreads, systemic risk

34.

Bank Lines of Credit as Contingent Liquidity: A Study of Covenant Violations and Their Implications

ECB Working Paper No. 1702
Number of pages: 42 Posted: 02 Aug 2014
Viral V. Acharya, Viral V. Acharya, Heitor Almeida, Filippo Ippolito, Filippo Ippolito and Ander Perez-Orive
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign, Universitat Pompeu Fabra - Faculty of Economic and Business SciencesBarcelona Graduate School of Economics and Board of Governors of the Federal Reserve System
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lines of credit, firm financial constraints, bank financial health, covenant violations

35.

The Cash Flow Sensitivity of Cash: Replication, Extension, and Robustness

Fisher College of Business Working Paper No. 2021-03-002, Charles A. Dice Center Working Paper No. 2021-02
Number of pages: 17 Posted: 27 Jan 2021
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Ohio State University (OSU) - Department of Finance
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Cash Flow Sensitivity of Cash, Financial Constraints, Cash Savings

36.

Efficiency or Resiliency? Corporate Choice between FInancial and Operational Hedging

NYU Stern School of Business Forthcoming
Number of pages: 77 Posted: 26 Feb 2021 Last Revised: 08 Feb 2022
Viral V. Acharya, Viral V. Acharya, Heitor Almeida, Yakov Amihud and Ping Liu
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign, New York University - Stern School of Business and Krannert School of Management, Purdue University
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Citation 1

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financial default, operational default, resilience, liquidity, risk management, inventory, supply chains, supply chain diversification

37.

How Does Health Insurance Affect Firm Employment and Performance? Evidence from Obamacare

Number of pages: 64 Posted: 21 Nov 2017 Last Revised: 21 Jul 2022
Heitor Almeida, Ruidi Huang, Ping Liu and Yuhai Xuan
University of Illinois at Urbana-Champaign, Southern Methodist University (SMU) - Finance Department, Krannert School of Management, Purdue University and University of California, Irvine - Paul Merage School of Business
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38.

Bank Lines of Credit as Contingent Liquidity: Covenant Violations and Their Implications

Number of pages: 46 Posted: 16 Oct 2017
Viral V. Acharya, Viral V. Acharya, Heitor Almeida, Filippo Ippolito, Filippo Ippolito and Ander Perez-Orive
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign, Universitat Pompeu Fabra - Faculty of Economic and Business SciencesBarcelona Graduate School of Economics and Board of Governors of the Federal Reserve System
Downloads 238 (179,836)
Citation 10

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Lines of Credit, Bank Financial Health, Covenant Violations

39.

More on the Performance of Higher Order Moment Estimators in Investment Equations

Number of pages: 41 Posted: 07 Oct 2010
Heitor Almeida, Murillo Campello and Antonio F. Galvao
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Illinois at Urbana-Champaign - Department of Economics
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Investment equations, measurement error, Monte Carlo simulations, instrumental variables, GMM

40.

Do Firms Hedge During Distress?

Number of pages: 57 Posted: 10 Jun 2019 Last Revised: 26 May 2020
Heitor Almeida, Kristine Watson Hankins and Ryan Williams
University of Illinois at Urbana-Champaign, University of Kentucky and University of Arizona - Department of Finance
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Citation 1

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41.

Corporate Demand for Liquidity

NBER Working Paper No. w9253
Number of pages: 44 Posted: 04 Oct 2002 Last Revised: 15 Apr 2022
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Ohio State University (OSU) - Department of Finance
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42.

Estimating Risk-Adjusted Costs of Financial Distress

Journal of Applied Corporate Finance, Vol. 20, Issue 4, pp. 105-109, Fall 2008
Number of pages: 7 Posted: 18 Dec 2008
Heitor Almeida and Thomas Philippon
University of Illinois at Urbana-Champaign and New York University (NYU) - Department of Finance
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43.

Efficiency or Resiliency? Corporate Choice between Financial and Operational Hedging

CEPR Discussion Paper No. DP15885
Number of pages: 74 Posted: 15 Mar 2021
Viral V. Acharya, Viral V. Acharya, Heitor Almeida, Yakov Amihud and Ping Liu
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign, New York University - Stern School of Business and Krannert School of Management, Purdue University
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44.

The Effect of External Finance on the Equilibrium Allocation of Capital

Journal of Financial Economics, Forthcoming
Posted: 01 Sep 2004
Heitor Almeida and Daniel Wolfenzon
University of Illinois at Urbana-Champaign and Columbia University - Columbia Business School, Finance

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capital reallocation, financial development, investor protection, external finance

45.

Optimal State-Dependent Rules, Credibility and the Cost of Disinflation

Working Paper No. 359 Departamento de Economia-PUC-Rio
Posted: 27 Mar 1997
Marco Bonomo and Heitor Almeida
Insper Institute of Education and Research and University of Illinois at Urbana-Champaign

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