Vojislav Maksimovic

University of Maryland - Robert H. Smith School of Business

William A. Longbrake Chair in Finance

Van Munching Hall

College Park, MD 20742-1815

United States

http://scholar.rhsmith.umd.edu/vmax/home

  • University of Maryland - Robert H. Smith School of Business

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SCHOLARLY PAPERS

63

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39,977

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1,010

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Scholarly Papers (63)

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1.

Small vs. Young Firms Across the World: Contribution to Employment, Job Creation, and Growth

World Bank Policy Research Working Paper No. 5631
Number of pages: 43 Posted: 20 Apr 2016
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 2,293 (11,332)
Citation 6

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Labor Markets, Microfinance, Small Scale Enterprise, Labor Policies, Access to Finance

2.

The Rise of Star Firms: Intangible Capital and Competition

Downloads 2,179 (12,287)

The Rise of Star Firms: Intangible Capital and Competition

Forthcoming Review of Financial Studies
Number of pages: 108 Posted: 21 Aug 2018 Last Revised: 11 Apr 2023
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 2,033 (13,461)

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star firms, intangible capital, organizational capital, industry concentration, ROIC, capital expenditure

Who are America's Star Firms?

World Bank Policy Research Working Paper No. 8534
Number of pages: 70 Posted: 28 Aug 2018
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 146 (340,383)

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Plastics & Rubber Industry, Business Cycles and Stabilization Policies, Textiles, Apparel & Leather Industry, Pulp & Paper Industry, Food & Beverage Industry, Common Carriers Industry, Construction Industry, General Manufacturing, Labor Markets, Employment and Unemployment

3.

Formal versus Informal Finance: Evidence from China

World Bank Policy Research Working Paper No. 4465
Number of pages: 77 Posted: 20 Apr 2016
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 1,989 (14,218)
Citation 20

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Access to Finance, Banks & Banking Reform, Debt Markets, Bankruptcy and Resolution of Financial Distress

4.

Redefining Financial Constraints: A Text-Based Analysis

Number of pages: 55 Posted: 08 Sep 2011 Last Revised: 24 Oct 2014
Gerard Hoberg and Vojislav Maksimovic
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Maryland - Robert H. Smith School of Business
Downloads 1,788 (16,815)
Citation 230

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Financial Constraints, Research and Development, Equity Issuance, Asymmetric Information, Debt Overhang, Debt Issuance, Text-Based Analysis

5.

Trade Credit, Collateral, and Adverse Selection

Number of pages: 41 Posted: 15 May 1998
Vojislav Maksimovic and Murray Z. Frank
University of Maryland - Robert H. Smith School of Business and University of Minnesota
Downloads 1,730 (17,723)
Citation 84

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6.

Law, Finance and Firm Growth

Downloads 1,716 (17,917)

Law, Finance and Firm Growth

Number of pages: 44 Posted: 27 Nov 1998
Asli Demirgüç-Kunt and Vojislav Maksimovic
World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 1,716 (17,603)
Citation 145

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Law, Finance and Firm Growth

Posted: 26 Nov 1998
Asli Demirgüç-Kunt and Vojislav Maksimovic
World Bank and University of Maryland - Robert H. Smith School of Business

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7.

Product Life Cycles in Corporate Finance

Review of Financial Studies Forthcoming 2022
Number of pages: 92 Posted: 01 Jun 2018 Last Revised: 30 Nov 2021
Gerard Hoberg and Vojislav Maksimovic
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Maryland - Robert H. Smith School of Business
Downloads 1,604 (19,849)
Citation 4

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product life cycles, corporate investment, mergers, acquisitions, divestitures, tobins Q, text analysis

8.

Disclosure, Business Change and Earnings Quality

Number of pages: 54 Posted: 04 May 2013 Last Revised: 09 Sep 2015
Christopher Ball, Gerard Hoberg and Vojislav Maksimovic
Meta Heuristica, LLC, University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Maryland - Robert H. Smith School of Business
Downloads 1,546 (20,990)
Citation 7

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10-K, MD&A, Disclosure, Value Relevance, Text Analytics, Latent Dirichlet Allocation, Discretionary Accruals

9.

How Important are Financing Constraints? The Role of Finance in the Business Environment

Downloads 1,386 (24,775)
Citation 53

How Important are Financing Constraints? The Role of Finance in the Business Environment

World Bank Policy Research Working Paper No. 3820
Number of pages: 59 Posted: 14 Nov 2005
Vojislav Maksimovic, Asli Demirgüç-Kunt, Meghana Ayyagari and Meghana Ayyagari
University of Maryland - Robert H. Smith School of Business, World Bank and George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business
Downloads 1,139 (32,502)

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Pro-Poor Growth and Inequality Inequality Economic Conditions and Volatility Private Participation in Infrastructure Economic Growth

How Important are Financing Constraints? The Role of Finance in the Business Environment

World Bank Policy Research Working Paper No. 3820
Number of pages: 47 Posted: 20 Apr 2016
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 247 (211,599)
Citation 16

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Emerging Markets, Access to Finance, Microfinance, Debt Markets, Achieving Shared Growth

How Important are Financing Constraints? The Role of Finance in the Business Environment

The World Bank Economic Review, Vol. 22, No. 3, pp. 483-516, 2008
Posted: 31 Dec 2008
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business

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D21, G30, O12

10.

Life Cycles of Firm Disclosures

USC Marshall School of Business Research Paper Sponsored by iORB, No. Forthcoming
Number of pages: 62 Posted: 03 Nov 2020 Last Revised: 03 Apr 2023
AJ Chen, Gerard Hoberg and Vojislav Maksimovic
University of Southern California - Marshall School of Business, University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Maryland - Robert H. Smith School of Business
Downloads 1,353 (25,650)
Citation 5

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Disclosures, Product Life-Cycle, Competition, Patents, Intellectual Property, Market Stability

11.

The Market for Corporate Assets: Who Engages in Mergers and Asset Sales and are There Efficiency Gains?

Downloads 1,352 (25,676)
Citation 99

The Market for Corporate Assets: Who Engages in Mergers and Asset Sales and are There Efficiency Gains?

Number of pages: 56 Posted: 16 Mar 2000
Vojislav Maksimovic and Gordon M. Phillips
University of Maryland - Robert H. Smith School of Business and Dartmouth College - Tuck School of Business
Downloads 1,352 (25,244)
Citation 99

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The Market for Corporate Assets: Who Engages in Mergers and Asset Sales and are There Efficiency Gains?

Posted: 23 May 2001
Vojislav Maksimovic and Gordon M. Phillips
University of Maryland - Robert H. Smith School of Business and Dartmouth College - Tuck School of Business

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Mergers, Asset Sales, Conglomerate Firms, Productivity

12.

Technological Innovation and Initial Public Offerings

Number of pages: 43 Posted: 27 Sep 1998
Vojislav Maksimovic and Pegaret Pichler
University of Maryland - Robert H. Smith School of Business and Northeastern University, D’Amore-McKim School of Business, Finance Area
Downloads 1,292 (27,441)
Citation 22

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Finance, industrial organization

13.

Conglomerate Firms and Internal Capital Markets

Number of pages: 96 Posted: 21 Nov 2006
Vojislav Maksimovic and Gordon M. Phillips
University of Maryland - Robert H. Smith School of Business and Dartmouth College - Tuck School of Business
Downloads 1,218 (29,900)
Citation 7

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Conglomerate firms, multidivisional firms, firm organization, investment, internal capital markets, conglomerates

14.

Private Versus Public Offerings: Optimal Selling Mechanisms with Adverse Selection

Number of pages: 56 Posted: 01 Sep 1999
Vojislav Maksimovic and Pegaret Pichler
University of Maryland - Robert H. Smith School of Business and Northeastern University, D’Amore-McKim School of Business, Finance Area
Downloads 1,039 (37,602)
Citation 15

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15.

Do Conglomerate Firms Allocate Resources Inefficiently?

Downloads 983 (40,657)

Do Conglomerate Firms Allocate Resources Inefficiently?

Number of pages: 51 Posted: 18 Aug 1998
Vojislav Maksimovic and Gordon M. Phillips
University of Maryland - Robert H. Smith School of Business and Dartmouth College - Tuck School of Business
Downloads 983 (40,051)
Citation 20

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Do Conglomerate Firms Allocate Resources Inefficiently?

Posted: 23 May 2001
Vojislav Maksimovic and Gordon M. Phillips
University of Maryland - Robert H. Smith School of Business and Dartmouth College - Tuck School of Business

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16.

Financial Structure and Economic Development: Firm, Industry, and Country Evidence

Number of pages: 61 Posted: 20 Apr 2016
Vojislav Maksimovic, Thorsten Beck, Asli Demirgüç-Kunt and Ross Levine
University of Maryland - Robert H. Smith School of Business, City University London - The Business School, World Bank and Stanford University
Downloads 960 (42,040)
Citation 9

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17.

Private and Public Merger Waves

Downloads 951 (42,623)
Citation 39

Private and Public Merger Waves

Number of pages: 47 Posted: 18 Jun 2010
Vojislav Maksimovic, Gordon M. Phillips and Liu Yang
University of Maryland - Robert H. Smith School of Business, Dartmouth College - Tuck School of Business and University of Maryland, Robert H. Smith School of Business
Downloads 620 (74,288)
Citation 25

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Merger Waves, Private Firms, Initial Conditions, TFP

Private and Public Merger Waves

Journal of Finance, Forthcoming
Number of pages: 48 Posted: 08 May 2012
Vojislav Maksimovic, Gordon M. Phillips and Liu Yang
University of Maryland - Robert H. Smith School of Business, Dartmouth College - Tuck School of Business and University of Maryland, Robert H. Smith School of Business
Downloads 331 (156,239)

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Mergers and Acquisitions, Private Firms

18.

SME Finance

World Bank Policy Research Working Paper No. 8241
Number of pages: 61 Posted: 14 Nov 2017
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 882 (47,229)
Citation 1

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Technology Innovation, Technology Industry, Finance and Development, Financial Economics

19.

Firm Innovation in Emerging Markets: The Roles of Governance and Finance

World Bank Policy Research Working Paper No. 4157
Number of pages: 56 Posted: 20 Apr 2016
Vojislav Maksimovic, Meghana Ayyagari, Meghana Ayyagari and Asli Demirgüç-Kunt
University of Maryland - Robert H. Smith School of Business, George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business and World Bank
Downloads 850 (49,686)
Citation 28

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Education for Development (superceded), Microfinance, Small Scale Enterprise, Investment and Investment Climate, Innovation

20.

Institutions, Financial Markets and Firm Debt Maturity

Number of pages: 52 Posted: 13 Jan 2005
Vojislav Maksimovic and Asli Demirgüç-Kunt
University of Maryland - Robert H. Smith School of Business and World Bank
Downloads 742 (59,722)
Citation 33

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21.

Financing of Firms in Developing Countries: Lessons from Research

World Bank Policy Research Working Paper No. 6036
Number of pages: 99 Posted: 20 Apr 2016
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 732 (60,774)

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Debt Markets, Access to Finance, Emerging Markets, Financial Literacy, Banks & Banking Reform

22.

Bank Competition, Financing Obstacles, and Access to Credit

Number of pages: 52 Posted: 20 Apr 2016
Thorsten Beck, Vojislav Maksimovic and Asli Demirgüç-Kunt
City University London - The Business School, University of Maryland - Robert H. Smith School of Business and World Bank
Downloads 732 (60,774)
Citation 39

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23.

The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?

Downloads 730 (61,012)
Citation 39

The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?

AFA 2005 Philadelphia Meetings
Number of pages: 44 Posted: 16 Jan 2005
Vojislav Maksimovic and Gordon M. Phillips
University of Maryland - Robert H. Smith School of Business and Dartmouth College - Tuck School of Business
Downloads 672 (67,004)
Citation 1

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conglomerates, acquisitions, mergers, investment, conglomerate, mulit-industry, productivity

The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?

NBER Working Paper No. w12297
Number of pages: 42 Posted: 16 Jun 2006 Last Revised: 02 Jan 2023
Vojislav Maksimovic and Gordon M. Phillips
University of Maryland - Robert H. Smith School of Business and Dartmouth College - Tuck School of Business
Downloads 58 (624,975)
Citation 2

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24.

Firms as Financial Intermediaries: Evidence from Trade Credit Data

Number of pages: 50 Posted: 20 Apr 2016
Vojislav Maksimovic and Asli Demirgüç-Kunt
University of Maryland - Robert H. Smith School of Business and World Bank
Downloads 679 (67,104)
Citation 2

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25.

Conglomerate Firms, Internal Capital Markets and the Theory of the Firm

Downloads 632 (73,493)

Conglomerate Firms, Internal Capital Markets and the Theory of the Firm

Robert H. Smith School Research Paper
Number of pages: 27 Posted: 04 Aug 2013
Vojislav Maksimovic and Gordon M. Phillips
University of Maryland - Robert H. Smith School of Business and Dartmouth College - Tuck School of Business
Downloads 632 (72,549)
Citation 22

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Efficiency, Firm Valuation, Neoclassical Model, Multisegment Firms, Conglomerate Discount

Conglomerate Firms, Internal Capital Markets, and the Theory of the Firm

Annual Review of Financial Economics, Vol. 5, pp. 225-244, 2013
Posted: 08 Nov 2013
Vojislav Maksimovic and Gordon M. Phillips
University of Maryland - Robert H. Smith School of Business and Dartmouth College - Tuck School of Business

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26.

Financing Patterns Around the World: The Role of Institutions

Number of pages: 55 Posted: 20 Apr 2016
Asli Demirgüç-Kunt, Vojislav Maksimovic and Thorsten Beck
World Bank, University of Maryland - Robert H. Smith School of Business and City University London - The Business School
Downloads 618 (75,516)
Citation 1

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27.

Funding Growth in Bank-Based and Market-Based Financial Systems: Evidence from Firm-Level Data

Number of pages: 36 Posted: 20 Apr 2016
Vojislav Maksimovic and Asli Demirgüç-Kunt
University of Maryland - Robert H. Smith School of Business and World Bank
Downloads 552 (86,892)
Citation 17

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28.

What Determines Protection of Property Rights? An Analysis of Direct and Indirect Effects

Downloads 527 (92,149)
Citation 1

What Determines Protection of Property Rights? An Analysis of Direct and Indirect Effects

Robert H. Smith School Research Paper No. RHS 06-032
Number of pages: 55 Posted: 22 Mar 2006 Last Revised: 13 Nov 2009
Vojislav Maksimovic, Meghana Ayyagari, Meghana Ayyagari and Asli Demirgüç-Kunt
University of Maryland - Robert H. Smith School of Business, George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business and World Bank
Downloads 387 (131,518)
Citation 1

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Property Rights, Legal Origin, Endowments, Directed Acyclic Graphs

What Determines Protection of Property Rights? An Analysis of Direct and Indirect Effects

World Bank Policy Research Working Paper No. 3940
Number of pages: 54 Posted: 20 Apr 2016
Vojislav Maksimovic, Meghana Ayyagari, Meghana Ayyagari and Asli Demirgüç-Kunt
University of Maryland - Robert H. Smith School of Business, George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business and World Bank
Downloads 140 (351,995)

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Legal Institutions of the Market Economy, Judicial System Reform, Anthropology, Gender and Law, Legal Products

29.

How Well Do Institutional Theories Explain Firms' Perceptions of Property Rights?

World Bank Policy Research Working Paper No. 3709
Number of pages: 47 Posted: 21 Feb 2005
Vojislav Maksimovic, Meghana Ayyagari, Meghana Ayyagari and Asli Demirgüç-Kunt
University of Maryland - Robert H. Smith School of Business, George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business and World Bank
Downloads 497 (99,172)
Citation 7

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Law, Property Rights, Variance Decomposition

30.

Asset Efficiency and Reallocation Decisions of Bankrupt Firms

Downloads 488 (101,180)

Asset Efficiency and Reallocation Decisions of Bankrupt Firms

Number of pages: 45 Posted: 23 Jul 1998
Vojislav Maksimovic and Gordon M. Phillips
University of Maryland - Robert H. Smith School of Business and Dartmouth College - Tuck School of Business
Downloads 488 (100,122)
Citation 23

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Asset Efficiency and Reallocation Decisions of Bankrupt Firms

Posted: 24 Jul 1998
Vojislav Maksimovic and Gordon M. Phillips
University of Maryland - Robert H. Smith School of Business and Dartmouth College - Tuck School of Business

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31.

Financial and Legal Constraints to Firm Growth: Does Size Matter?

Number of pages: 56 Posted: 20 Apr 2016
Vojislav Maksimovic, Thorsten Beck and Asli Demirgüç-Kunt
University of Maryland - Robert H. Smith School of Business, City University London - The Business School and World Bank
Downloads 475 (104,494)
Citation 45

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32.

Post-Merger Restructuring and the Boundaries of the Firm

Downloads 433 (116,530)
Citation 45

Post-Merger Restructuring and the Boundaries of the Firm

Number of pages: 53 Posted: 10 Aug 2008
Vojislav Maksimovic, Gordon M. Phillips and Nagpurnanand Prabhala
University of Maryland - Robert H. Smith School of Business, Dartmouth College - Tuck School of Business and The Johns Hopkins Carey Business School
Downloads 230 (227,000)
Citation 17

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acquisitions, mergers, investment, dispositions, conglomerate, restructuring, productivity

Post-Merger Restructuring and the Boundaries of the Firm

US Census Bureau Center for Economic Studies Paper No. CES-WP-11-11
Number of pages: 55 Posted: 17 Apr 2011
Vojislav Maksimovic, Gordon M. Phillips and Nagpurnanand Prabhala
University of Maryland - Robert H. Smith School of Business, Dartmouth College - Tuck School of Business and The Johns Hopkins Carey Business School
Downloads 151 (331,022)
Citation 1

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Post-Merger Restructuring and the Boundaries of the Firm

NBER Working Paper No. w14291
Number of pages: 53 Posted: 01 Sep 2008 Last Revised: 21 Jul 2022
Vojislav Maksimovic, Gordon M. Phillips and Nagpurnanand Prabhala
University of Maryland - Robert H. Smith School of Business, Dartmouth College - Tuck School of Business and The Johns Hopkins Carey Business School
Downloads 52 (659,117)
Citation 29

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33.

Are Innovating Firms Victims or Perpetrators? Tax Evasion, Bribe Payments, and the Role of External Finance in Developing Countries

World Bank Policy Research Working Paper No. 5389
Number of pages: 57 Posted: 20 Apr 2016
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 384 (133,827)

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Access to Finance, Taxation & Subsidies, Public Sector Corruption & Anticorruption Measures, Debt Markets, Public Sector Economics

34.

Business Environment and the Incorporation Decision

Number of pages: 36 Posted: 20 Apr 2016
Asli Demirgüç-Kunt, Vojislav Maksimovic and Inessa Love
World Bank, University of Maryland - Robert H. Smith School of Business and World Bank - Development Economics Data Group (DECDG)
Downloads 380 (135,779)
Citation 5

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35.

Financial Constraints, Uses of Funds, and Firm Growth: An International Comparison

Number of pages: 54 Posted: 20 Apr 2016
Vojislav Maksimovic and Asli Demirgüç-Kunt
University of Maryland - Robert H. Smith School of Business and World Bank
Downloads 371 (139,039)

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36.

Financial Constraints, Uses of Funds and Firm Growth: An International Comparison

Number of pages: 54 Posted: 13 Jan 2005
Vojislav Maksimovic and Asli Demirgüç-Kunt
University of Maryland - Robert H. Smith School of Business and World Bank
Downloads 360 (143,706)

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37.

Do Public Firms Respond to Industry Opportunities More than Private Firms? The Impact of Initial Firm Quality

Downloads 311 (168,106)
Citation 9

Do Public Firms Respond to Industry Opportunities More than Private Firms? The Impact of Initial Firm Quality

Tuck School of Business Working Paper No. 3093125
Number of pages: 55 Posted: 27 Dec 2017 Last Revised: 18 Mar 2019
Vojislav Maksimovic, Gordon M. Phillips and Liu Yang
University of Maryland - Robert H. Smith School of Business, Dartmouth College - Tuck School of Business and University of Maryland, Robert H. Smith School of Business
Downloads 229 (227,974)

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IPOs, Public Firms, Private Firms, Myopia

Do Public Firms Respond to Investment Opportunities More than Private Firms? The Impact of Initial Firm Quality

NBER Working Paper No. w24104
Number of pages: 50 Posted: 12 Dec 2017 Last Revised: 13 May 2023
Vojislav Maksimovic, Gordon M. Phillips and Liu Yang
University of Maryland - Robert H. Smith School of Business, Dartmouth College - Tuck School of Business and University of Maryland, Robert H. Smith School of Business
Downloads 42 (723,296)
Citation 2

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Do Public Firms Respond to Industry Opportunities More than Private Firms? The Impact of Initial Firm Quality

NBER Working Paper No. w25634
Number of pages: 56 Posted: 12 Mar 2019 Last Revised: 17 Jul 2023
Vojislav Maksimovic, Gordon M. Phillips and Liu Yang
University of Maryland - Robert H. Smith School of Business, Dartmouth College - Tuck School of Business and University of Maryland, Robert H. Smith School of Business
Downloads 40 (737,859)

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38.

The Rise of Star Firms: Intangible Capital and Competition

Downloads 309 (169,253)
Citation 3

The Rise of Star Firms: Intangible Capital and Competition

Number of pages: 82 Posted: 26 Apr 2019 Last Revised: 13 Jan 2020
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 217 (239,910)

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star firms, intangible capital, organizational capital, industry concentration, ROIC, capital expenditure

The Rise of Star Firms: Intangible Capital and Competition

World Bank Policy Research Working Paper No. 8832
Number of pages: 63 Posted: 30 Apr 2019
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 92 (479,110)
Citation 4

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39.

Seizing Opportunities: Small Businesses, Social Capital, and Banks

Number of pages: 69 Posted: 14 Apr 2022 Last Revised: 08 Sep 2023
Vojislav Maksimovic, Jing Xue and Liu Yang
University of Maryland - Robert H. Smith School of Business, University of Maryland, Robert H. Smith School of Business and University of Maryland, Robert H. Smith School of Business
Downloads 303 (172,731)

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Social Capital, Reciprocity, Business Dynamism,Small Business, Local Banks, PPP, Virtual Connections

40.

Consistent Estimation of Cross-Sectional Models in Event Studies

Review of Financial Studies, Vol. 3, pp. 343-365, 1990
Number of pages: 30 Posted: 12 Nov 2008
B. Espen Eckbo, Vojislav Maksimovic and Joseph Williams
Tuck School of Business at Dartmouth, University of Maryland - Robert H. Smith School of Business and University of British Columbia (UBC) - Sauder School of Business
Downloads 294 (178,288)
Citation 9

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Event studies, voluntary events, consistent estimation, selection bias, OLS, GLS, ML estimation, nonlinear estimator, synergy gains, horizontal mergers, bidder gains

41.

Structuring the Initial Offering: Who to Sell to and How to Do it

Number of pages: 44 Posted: 07 Apr 2004
Vojislav Maksimovic and Pegaret Pichler
University of Maryland - Robert H. Smith School of Business and Northeastern University, D’Amore-McKim School of Business, Finance Area
Downloads 290 (180,868)
Citation 5

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Mechanism design, IPOs

42.

Financial and Legal Institutions and Firm Size

Number of pages: 46 Posted: 20 Apr 2016
Thorsten Beck, Vojislav Maksimovic and Asli Demirgüç-Kunt
City University London - The Business School, University of Maryland - Robert H. Smith School of Business and World Bank
Downloads 260 (202,764)
Citation 2

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43.

Fewer and Less Skilled? Human Capital, Competition, and Entrepreneurial Success in Manufacturing

Number of pages: 81 Posted: 03 Jan 2018
Meghana Ayyagari, Meghana Ayyagari and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business and University of Maryland - Robert H. Smith School of Business
Downloads 205 (253,479)
Citation 5

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Entrepreneurship, Human Capital, Skills, Competitive Shock, Firm Entry

44.

Competition and Operating Volatilities around the World

Number of pages: 50 Posted: 17 Apr 2013 Last Revised: 12 May 2017
Tanakorn Makaew and Vojislav Maksimovic
University of Southern California and University of Maryland - Robert H. Smith School of Business
Downloads 198 (261,664)
Citation 5

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Firm Risk, Volatility, Competition, Financial Development, Cash Holding

45.

What Determines Entrepreneurial Outcomes in Emerging Markets? The Role of Initial Conditions

World Bank Policy Research Working Paper No. 7207
Number of pages: 83 Posted: 20 Apr 2016
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 181 (283,353)
Citation 5

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Labor Markets, Labor Policies, Microfinance, Environmental Economics & Policies, Banks & Banking Reform

46.

Do Phoenix Miracles Exist? Firm-Level Evidence from Financial Crises

World Bank Policy Research Working Paper No. 5799
Number of pages: 65 Posted: 20 Apr 2016
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 154 (325,267)

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Debt Markets, Access to Finance, Bankruptcy and Resolution of Financial Distress, Emerging Markets, Economic Theory & Research

47.

Chinese Entrepreneurs and Globalization: The Effects of Local Conditions and Supply-Chain Spillover

Number of pages: 94 Posted: 27 Dec 2018 Last Revised: 23 Oct 2019
Minwen Li, Tanakorn Makaew and Vojislav Maksimovic
Tsinghua Universitiy - School of Economics and Management, University of Southern California and University of Maryland - Robert H. Smith School of Business
Downloads 150 (332,448)

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Globalization, International Trade, Trade War, Export, Financial Development, Entrepreneurship, China, Supply Chain

48.

Are Public Firms Really Myopic? Evidence from Matching IPO Firms at Birth

Tuck School of Business Working Paper No. 3554768
Number of pages: 58 Posted: 09 Apr 2020
Vojislav Maksimovic, Gordon M. Phillips and Liu Yang
University of Maryland - Robert H. Smith School of Business, Dartmouth College - Tuck School of Business and University of Maryland, Robert H. Smith School of Business
Downloads 145 (341,639)
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Private and Public Firm Growth, IPOs, Birth, Myopia

49.

Demand Shock, Liquidity Management, and Firm Growth During the Financial Crisis

FEDS Working Paper No. 2015-96
Number of pages: 59 Posted: 13 Nov 2015 Last Revised: 23 Jun 2022
Vojislav Maksimovic, T. Mandy Tham, T. Mandy Tham and Youngsuk Yook
University of Maryland - Robert H. Smith School of Business, Nanyang Technological University (NTU)Singapore Management University - Lee Kong Chian School of Business and Board of Governors of the Federal Reserve System
Downloads 135 (361,251)

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Financial crisis, demand shocks, liquidity management, trade credit, inventory

50.

Are Large Firms Born or Made? Evidence from Developing Countries

World Bank Policy Research Working Paper No. 7406
Number of pages: 54 Posted: 20 Apr 2016
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 101 (446,997)
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Technology Industry, Technology Innovation

51.

Do Firms in Developing Countries Grow as They Age?

Robert H. Smith School Research Paper No. 2405725
Number of pages: 75 Posted: 08 Mar 2014
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 93 (471,869)

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Firm Growth, Financial Constraints, Firm Life-Cycle, Establishment Growth, Firm Size, Labor Regulations

52.

Reshaping the Local Marketplace: Financing, Independent Businesses, Large Firms, and COVID

Number of pages: 58 Posted: 23 Feb 2021 Last Revised: 25 Feb 2021
Vojislav Maksimovic and Liu Yang
University of Maryland - Robert H. Smith School of Business and University of Maryland, Robert H. Smith School of Business
Downloads 91 (478,471)

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Small Businesses, Local Banks, PPP, Peer Effects, Brands, Concentration, COVID

53.

Trade Credit, Demand Shocks, and Liquidity Management

Number of pages: 58 Posted: 11 Dec 2022
Vojislav Maksimovic and Youngsuk Yook
University of Maryland - Robert H. Smith School of Business and Board of Governors of the Federal Reserve System
Downloads 74 (541,289)

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Financial Crisis, Demand Shocks, Trade Credit, Inventory

54.

What do Unions do? Incentives and Investments

Number of pages: 60 Posted: 25 Sep 2023
Vojislav Maksimovic and Liu Yang
University of Maryland - Robert H. Smith School of Business and University of Maryland, Robert H. Smith School of Business
Downloads 63 (589,383)

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Incentives, Investments, Labor Unions, Spillover, Right-to-Work Laws

55.

Does Local Financial Development Matter for Firm Lifecycle in India?

World Bank Policy Research Working Paper No. 7008
Number of pages: 64 Posted: 20 Apr 2016
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 59 (608,898)
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Financial Economics, Finance and Development, Access to Finance

56.

Size and Age of Establishments: Evidence from Developing Countries

World Bank Policy Research Working Paper No. 6718
Number of pages: 77 Posted: 20 Apr 2016
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business
Downloads 59 (608,898)

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Microfinance, Banks & Banking Reform, Scientific Research & Science Parks, Science Education, Labor Markets

57.

Product Market Risk, Financial Development and Firm Creation Along the Supply Chain

Number of pages: 38 Posted: 28 Feb 2021
Minwen Li, Tanakorn Makaew and Vojislav Maksimovic
Tsinghua Universitiy - School of Economics and Management, University of Southern California and University of Maryland - Robert H. Smith School of Business
Downloads 45 (687,057)

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Entrepreneurship, China, Product Market Competition, Financial Development, Supply Chain

58.

Who Benefits from the Decline of American Manufacturing? Evidence from 142,663 Foreign and Domestic Entries in China

Number of pages: 54 Posted: 01 Aug 2018
Minwen Li, Tanakorn Makaew and Vojislav Maksimovic
Tsinghua Universitiy - School of Economics and Management, University of Southern California and University of Maryland - Robert H. Smith School of Business
Downloads 14 (939,422)

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Globalization, International Trade, Export, Financial Development, Financial Constraint, Entrepreneurship

59.

Financial and Legal Constraints to Growth: Does Firm Size Matter?

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 11 Nov 2009
Asli Demirgüç-Kunt, Vojislav Maksimovic and Thorsten Beck
World Bank, University of Maryland - Robert H. Smith School of Business and City University London - The Business School

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Financial regulations, Regulations, Legal systems, Corruption in government, Experimental/primary research, World Business Environment Survey, Banking industry, Firm size, Regulations, Firm growth

60.

How Well Do Institutional Theories Explain Firms Perceptions of Property Rights?

The Review of Financial Studies, Vol. 21, Issue 4, pp. 1833-1871, 2008
Posted: 08 Aug 2008
Meghana Ayyagari, Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic
George Washington University - School of BusinessUniversity of Maryland - Robert H. Smith School of Business, World Bank and University of Maryland - Robert H. Smith School of Business

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61.

Do Conglomerate Firms Allocate Resources Inefficiently Across Industries? Theory and Evidence

The Journal of Finance, Vol. 57, pp. 721-767, 2002
Posted: 25 Apr 2002
Vojislav Maksimovic and Gordon M. Phillips
University of Maryland - Robert H. Smith School of Business and Dartmouth College - Tuck School of Business

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62.

Capital Structure in Developing Countries: Evidence from Ten Country Cases

Posted: 22 Aug 1998
Vojislav Maksimovic and Asli Demirgüç-Kunt
University of Maryland - Robert H. Smith School of Business and World Bank

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63.

Efficiency of Bankrupt Firms and Industry Conditions: Theory and Evidence

Posted: 26 Aug 1996
Vojislav Maksimovic and Gordon M. Phillips
University of Maryland - Robert H. Smith School of Business and Dartmouth College - Tuck School of Business

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