@article{walker_wu_2023, title={PIPEs, firm investment, and viability}, ISSN={["1573-7179"]}, DOI={10.1007/s11156-023-01200-0}, journal={REVIEW OF QUANTITATIVE FINANCE AND ACCOUNTING}, author={Walker, Mark D. and Wu, Qingqing}, year={2023}, month={Sep} }
 @article{walker_yost_2022, title={Seasoned equity offerings and payout policy}, volume={45}, ISSN={["1475-6803"]}, DOI={10.1111/jfir.12296}, abstractNote={Abstract}, number={3}, journal={JOURNAL OF FINANCIAL RESEARCH}, author={Walker, Mark D. and Yost, Keven}, year={2022}, month={Sep}, pages={695–718} }
 @article{zhang_kandilov_walker_2021, title={Belt and road initiative and Chinese cross-border mergers and acquisitions}, ISSN={["1467-9701"]}, DOI={10.1111/twec.13233}, abstractNote={Abstract}, journal={WORLD ECONOMY}, author={Zhang, Chi and Kandilov, Ivan and Walker, Mark}, year={2021}, month={Dec} }
 @article{zhang_kandilov_walker_2021, title={Direct flights and cross-border mergers & acquisitions}, volume={70}, ISSN={["1872-6313"]}, DOI={10.1016/j.jcorpfin.2021.102063}, abstractNote={Prior evidence indicates that proximity increases investments resulting in stronger economic growth. The introduction of a non-stop direct flight between two locations in different countries allows for faster travel and a lower cost of acquiring information, potentially facilitating acquisitions abroad. We examine this channel by considering cross-border mergers and acquisitions (M&A) activity between China and the U.S. Our results suggest that direct flights matter most in target selection. Direct flights are more important for M&A activity where information asymmetry is greater and for first time acquirers in the market. We demonstrate that endogeneity is unlikely to drive the results.}, journal={JOURNAL OF CORPORATE FINANCE}, author={Zhang, Chi and Kandilov, Ivan T. and Walker, Mark D.}, year={2021}, month={Oct} }
 @article{walker_wu_2019, title={Equity issues when in distress}, volume={25}, ISSN={["1468-036X"]}, DOI={10.1111/eufm.12220}, abstractNote={Abstract}, number={3}, journal={EUROPEAN FINANCIAL MANAGEMENT}, author={Walker, Mark D. and Wu, Qingqing}, year={2019}, month={Jun}, pages={489–519} }
 @article{walker_yost_zhao_2016, title={Credibility and Multiple SEOs: What Happens When Firms Return to the Capital Market?}, volume={45}, ISSN={["1755-053X"]}, DOI={10.1111/fima.12099}, abstractNote={Using a sample of firms that conducted multiple seasoned equity offerings (SEOs) from 1995 to 2012, we examine whether firms can build credibility for subsequent SEOs by following through on their stated use of the proceeds from earlier SEOs. We find that firms that state their intention to invest these funds in projects and those that make no such statements, but do invest have relatively more positive announcement returns around subsequent SEO announcements. Our results suggest that the markets are aware of the potential agency costs of equity, have a long memory, and update their beliefs as to the likely use of funds raised by firms.}, number={3}, journal={FINANCIAL MANAGEMENT}, author={Walker, Mark D. and Yost, Keven and Zhao, Jing}, year={2016}, pages={675–703} }
 @article{denis_denis_walker_2015, title={CEO assessment and the structure of newly formed boards}, volume={28}, DOI={10.1093/rfs/hhv055}, abstractNote={Journal Article CEO Assessment and the Structure of Newly Formed Boards Get access David J. Denis, David J. Denis University of Pittsburgh, Joseph M. Katz Graduate School of Business Search for other works by this author on: Oxford Academic Google Scholar Diane K. Denis, Diane K. Denis University of Pittsburgh, Joseph M. Katz Graduate School of Business Search for other works by this author on: Oxford Academic Google Scholar Mark D. Walker Mark D. Walker North Carolina State University, Poole College of Management Search for other works by this author on: Oxford Academic Google Scholar The Review of Financial Studies, Volume 28, Issue 12, December 2015, Pages 3338–3366, https://doi.org/10.1093/rfs/hhv055 Published: 16 September 2015}, number={12}, journal={Review of Financial Studies}, author={Denis, D. J. and Denis, D. K. and Walker, M. D.}, year={2015}, pages={3338–3366} }
 @article{knoeber_walker_2013, title={On political connectedness and the arrest of Ivan Boesky}, volume={157}, ISSN={["1573-7101"]}, DOI={10.1007/s11127-012-9939-7}, number={1-2}, journal={PUBLIC CHOICE}, author={Knoeber, Charles R. and Walker, Mark D.}, year={2013}, month={Oct}, pages={41–50} }
 @article{knoeber_walker_2013, title={The effect of tougher enforcement on foreign firms: Evidence from the Adelphia perp walk}, volume={23}, ISSN={["1872-6313"]}, DOI={10.1016/j.jcorpfin.2013.09.007}, abstractNote={The public arrest of Adelphia executives on July 24, 2002 signaled tougher enforcement of laws against corporate crime. On that day and the two following days, foreign firms experienced a cumulative 1.7% decline in value. Relative to domestic firms, the loss was a much larger 4.5%. The expected cost to firms from tougher enforcement suggests three possible reasons. Foreign firms may be targeted more heavily, may face greater penalties, or may find it more costly to react to (deflect) enforcement. We find evidence consistent with foreign firms facing higher costs from tougher enforcement for each of these reasons.}, journal={JOURNAL OF CORPORATE FINANCE}, author={Knoeber, Charles R. and Walker, Mark D.}, year={2013}, month={Dec}, pages={382–394} }
 @article{walker_yost_2008, title={Seasoned equity offerings: What firms say, do, and how the market reacts}, volume={14}, ISSN={["1872-6313"]}, DOI={10.1016/j.jcorpfin.2008.04.001}, abstractNote={Using a sample of 438 firms that issued seasoned equity, we investigate the ex ante reasons stated by the firm for the use of capital, the actual ex post use of funds, and the market reaction to this information. We find that, regardless of the stated use of funds, firms increase capital expenditures and research and development following an SEO. In addition, firms increase their long term debt following an SEO, even when the stated reason for the capital is to pay down debt. The market reacts more favorably to the anticipated investment increases if the firm provides specific plans for the use of the soon-to-be-raised capital. The evidence is consistent with the view that agency issues are important factors in SEOs.}, number={4}, journal={JOURNAL OF CORPORATE FINANCE}, author={Walker, Mark D. and Yost, Keven}, year={2008}, month={Sep}, pages={376–386} }
 @article{ahn_walker_2007, title={Corporate governance and the spinoff decision}, volume={13}, ISSN={["1872-6313"]}, DOI={10.1016/j.jcorpfin.2006.03.001}, abstractNote={Using a sample of 102 spinoffs in the period 1981 to 1997, we investigate the relation between corporate governance and the spinoff decision. Diversified firms conducting a spinoff have characteristics previously hypothesized to be associated with more effective corporate governance, such as greater ownership by outside board members, more heterogeneous boards, and fewer board members, in comparison to a set of peer firms. Post spinoff, relative valuation measures increase a significantly greater extent than for peer firms. These findings are consistent with the view that agency problems are a contributing factor in firms maintaining value destroying diversification strategies.}, number={1}, journal={JOURNAL OF CORPORATE FINANCE}, author={Ahn, Seoungpil and Walker, Mark D.}, year={2007}, month={Mar}, pages={76–93} }
 @article{lundstrum_walker_2006, title={LEAPS introductions and the value of the underlying stocks}, volume={15}, ISSN={["1042-9573"]}, DOI={10.1016/j.jfi.2005.09.002}, abstractNote={We examine the change in the value of the underlying stock associated with long-term option introduction. Analysis of the abnormal returns associated with LEAPS (Long-Term Equity Anticipation Security) introductions indicates a decline in firm value even after we control for the endogenous nature of the listing decision. However, the evidence does not support previously-offered explanations for the price change associated with option introductions. In particular, we do not find the predicted relations between the cumulative abnormal returns and variables associated with loosening of short sale constraints such as beta, proxies for the dispersion in investor beliefs, and change in relative short interest.}, number={4}, journal={JOURNAL OF FINANCIAL INTERMEDIATION}, author={Lundstrum, Leonard L. and Walker, Mark D.}, year={2006}, month={Oct}, pages={494–510} }
 @article{elliott_van ness_walker_warr_2006, title={What drives the S&P 500 inclusion effect? An analytical survey}, volume={35}, ISSN={["1755-053X"]}, url={http://www.scopus.com/inward/record.url?eid=2-s2.0-33846181300&partnerID=MN8TOARS}, DOI={10.1111/j.1755-053X.2006.tb00158.x}, abstractNote={We present an analytical survey of the explanations—price pressure, downward-sloping demand curves, improved liquidity, improved operating performance, and increased investor awareness—for the increase in stock value associated with inclusion in the S&P 500 Index. We find that increased investor awareness is the primary factor behind the cross-section ofabnormal announcement returns. We also find some evidence of temporary price pressure around the inclusion date. We find no evidence that long-run downward-sloping demand curves for stocks, anticipated improvements in operating performance, or increased liquidity are related to the cross-section of announcement or inclusion returns.}, number={4}, journal={FINANCIAL MANAGEMENT}, author={Elliott, William B. and Van Ness, Bonnie F. and Walker, Mark D. and Warr, Richard S.}, year={2006}, pages={31–48} }
 @article{walker_2005, title={Industrial groups and investment efficiency}, volume={78}, ISSN={["0021-9398"]}, DOI={10.1086/431449}, abstractNote={Using a sample of 8,790 firm‐years between 1993 and 1998, I examine investment policies of firms in Japanese industrial groups relative to independent firms. Unlike independent firms, there is little evidence that group firms' investment is sensitive to ex ante proxies of growth opportunities, and for the most tightly linked firms in the industrial group, there is a negative relation between industry Q and industry‐adjusted investment. The difference in the investment pattern for group firms relative to independent firms is directly related to lower excess values for group firms. These findings are consistent with industrial groups decreasing investment efficiency.}, number={5}, journal={JOURNAL OF BUSINESS}, author={Walker, MD}, year={2005}, month={Sep}, pages={1973–2001} }