The Journal of Finance publishes leading research across all the major fields of finance. It is one of the most widely cited journals in academic finance, and in all of economics. Each of the six issues per year reaches over 8,000 academics, finance professionals, libraries, and government and financial institutions around the world. The journal is the official publication of The American Finance Association, the premier academic organization devoted to the study and promotion of knowledge about financial economics.
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DISCUSSION
Published: 06/01/1978 | DOI: 10.1111/j.1540-6261.1978.tb02016.x
Willard T. Carleton
FINANCING DECISIONS OF THE FIRM
Published: 05/01/1966 | DOI: 10.1111/j.1540-6261.1966.tb00221.x
Eugene M. Lerner, Willard T. Carleton
REPLY
Published: 12/01/1968 | DOI: 10.1111/j.1540-6261.1968.tb00325.x
Eugene M. Lerner, Willard T. Carleton
DISCUSSION
Published: 05/01/1975 | DOI: 10.1111/j.1540-6261.1975.tb01821.x
M. J. Brennan, Willard T. Carleton, Stewart C. Myers
The Influence of Institutions on Corporate Governance through Private Negotiations: Evidence from TIAA‐CREF
Published: 12/17/2002 | DOI: 10.1111/0022-1082.00055
Willard T. Carleton, James M. Nelson, Michael S. Weisbach
This paper analyzes the process of private negotiations between financial institutions and the companies they attempt to influence. It relies on a private database consisting of the correspondence between TIAA‐CREF and 45 firms it contacted about governance issues between 1992 and 1996. This correspondence indicates that TIAA‐CREF is able to reach agreements with targeted companies more than 95 percent of the time. In more than 70 percent of the cases, this agreement is reached without shareholders voting on the proposal. We verify independently that at least 87 percent of the targets subsequently took actions to comply with these agreements.
An Empirical Analysis of the Role of the Medium of Exchange in Mergers
Published: 06/01/1983 | DOI: 10.1111/j.1540-6261.1983.tb02503.x
WILLARD T. CARLETON, DAVID K. GUILKEY, ROBERT S. HARRIS, JOHN F. STEWART
In empirical studies of differences between firms which are acquired and those which are not, researchers typically divide firms into two groups‐acquired and nonacquired. In this paper, we argue that cash takeovers may be sufficiently different from noncash acquisitionst hat failure to distinguish between them may lead to inappropriateg eneralizations. We provide evidence from the mid 1970s that three categories of firms can be distinguished:n onacquireda, cquiredi n a cash takeover, and acquired in an exchange of securities.