Articles

1  High-Water Marks: High Risk Appetites? Convex Compensation, Long Horizons, and Portfolio Choice

Stavros Panageas and Mark M. Westerfield

37  It’s SHO Time! Short-Sale Price Tests and Market Quality

       Karl B. Diether, Kuan-Hui Lee, and Ingrid M. Werner

75  Should Investors Bet on the Jockey or the Horse? Evidence from Early Business Plans to Public Companies

       Steven N. Kaplan, Berk A. Sensoy, and Per Strömberg

117  Share Repurchases and Pay-Performance Sensitivity of Employee Compensation Contracts

        Ilona Babenko

151　Financing Innovation and Growth: Cash Flow, External Equity, and the 1990s R&D Boom

James R. Brown, Steven M. Fazzari, and Bruce C. Peterson

187　Entrepreneurial Shareholder Activism: Hedge Funds and Other Private Investors

        April Klein and Emanuel Zur

231　CEO Compensation and Board Structure

        Vidhi Chhaochharia and Yaniv Grinstein

263　Access to Capital, Capital Structure, and the Funding of the Firm

        Omer Brav

309　Do Entrenched Managers Pay Their Workers More?

        Henrik Cronqvist, Fredrik Heyman, Mattias Nilsson, Helena Svaleryd, and Jonas Vlachos

341　Labor and Corporate Governance: International Evidence from Restructuring Decisions

        Julian Atanassov and E. Han Kim

375　Market Sidedness: Insights into Motives for Trade Initiation

        Asani Sarkar and Robert A. Schwartz

425　Private Benefits of Control, Ownership, and the Cross-listing Decision

        Craig Doidge, G. Andrew Karolyi, Karl V. Lins, Darius P. Miller, and René M. Stulz

467　Are Liquidity and Information Risks Priced in the Treasury Bond Market?

        Haitao Li, Junbo Wang, Chunchi Wu, and Yan He

505  Public Information, IPO Price Formation, and Long-Run Returns: Japanese Evidence

        Kenji Kutsuna, Janet Kiholm Smith, and Richard L. Smith

547　Miscellanea