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Barclay Michael J.

Обновлено: 09-12-2010
Дата рождения 10 января 1957 г.
Образование бакалавр: Mathematics and Economics [Colgate University , 1979]
PhD: Economics and Finance [Stanford University , 1986]
Место работы William E. Simon Graduate School of Business Administration / Alumni Distinguished Professor of Business Administration, Professor of Finance and Area Coordinator, Finance

Профессиональные интересы:
Corporate finance, the role of large-block shareholders in public corporations, market microstructure, and the tax-management strategies of mutual funds.

A Comparison of Trading Models used for Calculating Aggregate Damages in Securities Litigation (with Frank Torchio), Law and Contemporary Problems, 64 (2001), pp. 105-136.
The Capital Structure Puzzle: Another Look at the Evidence (with Clifford W. Smith, Jr.), Journal of Applied Corporate Finance 12 (1999), pp. 8- 20.
The Effects of Market Reform on the Trading Costs of Nasdaq Stocks (with William G. Christie, Jeffrey H. Harris, Eugene Kandel, and Paul Schultz), Journal of Finance, 54 (1999), pp. 1-34.
The Effects of Transaction Costs on Stock Prices and Trading Volume (with Leslie M. Marx and Eugene Kandel), Journal of Financial Intermediation, 7 (1998), pp130-150.
Open-end Mutual Funds and Capital Gains Taxes (with Neil Pearson and Michael Weisbach), Journal of Financial Economics 49 (1998), pp. 3-43.
Bid-Ask Spreads and the Avoidance of Odd-Eighth Quotes on Nasdaq: An Examination of Exchange Listings, Journal of Financial Economics 45 (1997), pp. 35- 60.
On Financial Architecture: Leverage, Maturity, and Priority (with Clifford W. Smith, Jr.), Journal of Applied Corporate Finance 8 (1996), pp. 4- 17. (Reprinted in The New Corporate Finance: Where Theory Meets Practice, Donald H. Chew, editor, McGraw-Hill, 2001.)
Private Information and the Costs of Trading Around Quarterly Earnings Announcements (with Craig G. Dunbar), Financial Analysts Journal 52 (1996), pp. 75- 84.
The Priority Structure of Corporate Liabilities (with Clifford W. Smith, Jr.), Journal of Finance 50 (1995), pp. 899-917.
The Maturity Structure of Corporate Debt (with Clifford W. Smith, Jr.), Journal of Finance 50 (1995), pp. 609-631.
Concentrated Ownership and Discounts on Closed-End Funds (with Clifford G. Holderness and Jeffrey Pontiff), Journal of Applied Corporate Finance 8 (1995), pp. 32-42.
The Determinants of Corporate Leverage and Dividend Policies (with Clifford W. Smith, Jr. and Ross L. Watts), Journal of Applied Corporate Finance 7 (1995), pp. 4-19. (Reprinted in the Journal of Financial Education, 23 (Spring 1997), pp. 1-15.)
Stealth Trading and Volatility: Which Trades Move Prices? (with Jerold B. Warner), Journal of Financial Economics, 34 (1993), pp. 281-305.
Private Benefits from Block Ownership and Discounts on Closed-End Funds (with Clifford G. Holderness and Jeffrey Pontiff), Journal of Financial Economics 33 (1993), pp. 263-291.
The Law and Large Block Trades (with Clifford G. Holderness), Journal of Law and Economics 35 (1992), pp. 265-294.
Control of Corporations by Active Block Investors (with Clifford G. Holderness), Journal of Applied Corporate Finance 4 (1991), pp. 68-77.
Negotiated Block Trades and Corporate Control (with Clifford G. Holderness), Journal of Finance 46 (1991), pp. 861-878.
Private Information, Trading Volume and Stock Return Variances (with Robert H. Litzenberger and Jerold B. Warner), Review of Financial Studies 3 (1990), pp. 233-253. (Reprinted in Japanese Financial Market Research, W. T. Ziemba, W. Bailey and Y. Hamao, editors, North Holland, 1991.)
Private Benefits from Control of Public Corporations (with Clifford G. Holderness), Journal of Financial Economics 25 (1989), pp. 371-395.
Corporate Payout Policy: Cash Dividends Versus Open-Market Share Repurchases (with Clifford W. Smith, Jr.), Journal of Financial Economics 22 (1988), 61-82.
Announcement Effects of New Equity Issues and the Use of Intraday Price Data (with Robert H. Litzenberger), Journal of Financial Economics 21 (1988), pp. 71- 99.
Dividends, Taxes, and Common Stock Prices: The Ex-Dividend Day Behavior of Common Stock Prices Before the Income Tax, Journal of Financial Economics 19 (1987), pp. 31-44.

Публикации на портале:
Домашняя страница http://www.simon.rochester.edu/fac/barclay/index.htm
E-mail barclay@simon.rochester.edu
Телефон (585) 275-3916
Факс (585) 242-9554
Адрес Carol Simon Hall, CS3-211B
University of Rochester
Rochester, NY 14627

Дополнительная информация:
In October 1994, Barclay was ranked by Business Week magazine as one of the top 12 business teachers in the U.S. and has been honored with numerous Simon School M.B.A. Superior Teaching Awards.
Ключевые слова

См. также:
Franco Modigliani, Merton H. Miller
American Economic Review. 1958.  Vol. 48. No. 3. P. 261-297. 
Sigurt Vitols
Corporate Governance: An International Review. 2005.  Vol. 13. No. 3. P. 386 - 396. 
David Yermack
Journal of Financial Economics. 2003.  Vol. 40. No. 2. P. 185-211. 
James H. Lorie, Leonard J. Savage
Journal of Business. 1955.  Vol. 28. No. 4. P. 229-239.