Publications

Corporate Governance and Executive Compensation

• “Where Do Shareholder Gains in Hedge Fund Activism Come From? Evidence from Employee Pension Plans.” Journal of Financial and Quantitative Analysis, September 2022, 57(6), 2140–2176.)

• A. Agrawal and T. Nasser. “Blockholders on Boards and CEO Compensation, Turnover and Firm Valuation.” Quarterly Journal of Finance 9(3), September 2019, 1-67.

• A. Agrawal and T. Nasser. “Corporate Financial and Investment Policies in the Presence of a Blockholder on the Board.” Quarterly Journal of Finance 8(3), September 2018, 1-59.

• ​A. Agrawal and M. Chen. “Boardroom Brawls: An Empirical Analysis of Disputes Involving Directors.” Quarterly Journal of Finance 7(3), September 2017, 1-58.

• A. Agrawal and T. Cooper. “Corporate Governance Consequences of Accounting Scandals: Evidence from Top Management, CFO and Auditor Turnover.” Quarterly Journal of Finance 7(1), March 2017, 1-41. (Lead article)

• A. Agrawal and C. Knoeber. “Corporate Governance and Firm Performance.” Thomas, Christopher R. and William F. Shughart II, eds., Oxford Handbook in Managerial Economics, 2012, Oxford University Press, New York, NY.

• A. Agrawal and M. Chen. “Do Analyst Conflicts Matter? Evidence from Stock Recommendations.” Journal of Law and Economics, August 2008, V. 51(3), 503-537.

• F. Tsoulouhas, C. Knoeber and A. Agrawal. “Contests to Become CEO: Incentives, Selection and Handicaps.” Economic Theory, February 2007, V. 30(2), 195-221.

• A. Agrawal, C. Knoeber and F. Tsoulouhas. “Are Outsiders Handicapped in CEO Successions?”  Journal of Corporate Finance, June 2006, V. 12(3), 619-644.

• A. Agrawal and S. Chadha. “Corporate Governance and Accounting Scandals.” Journal of Law and Economics, October 2005, V. 48(2), 371-406.

• A. Agrawal and C. Knoeber. “Do Some Outside Directors Play a Political Role?” Journal of Law and Economics, April 2001, V. 44(1), 179-198.

• A. Agrawal, J. Jaffe, and J. Karpoff. “Management Turnover and Governance Changes Following the Revelation of Fraud.” Journal of Law and Economics, April 1999, V. 42(1), 23-56.

• A. Agrawal and C. Knoeber. “Managerial Compensation and the Threat of Takeover.” Journal of     Financial Economics, February 1998, V. 47(2), 219-239.

• A. Agrawal and C. Knoeber. “Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders.” Journal of Financial and Quantitative Analysis, September 1996, V. 31(3), 377-397.

• A. Agrawal and R. Walkling. “Executive Careers and Compensation Surrounding Takeover Bids.”  The Journal of Finance, July 1994, V. 49(3), 985-1014.

• A. Agrawal and J. Narayanan. “Agency Costs, Ownership Control, and Dividend Policy: A Direct Test of the Free Cash Flow Theory.” Managerial and Decision Economics, March-April 1994, V. 15(2), 139-148.

• A. Agrawal and N. J. Nagarajan. “Corporate Capital Structure, Agency Costs and Ownership Control: The Case of All-equity Firms.”  The Journal of Finance, September 1990, V. 45(4), pp. 1325-1331.

• A. Agrawal and G. N. Mandelker. “Large Shareholders and the Monitoring of Managers:  The Case of Anti-takeover Charter Amendments.” Journal of Financial and Quantitative Analysis, June 1990, V. 25(2), pp. 143-161.

• A. Agrawal, A. K. Makhija and G. N. Mandelker. “Executive Compensation and Corporate Performance in Electric and Gas Utilities: Some Empirical Evidence.” Financial Management, Winter 1991, V. 20(4), pp. 113-124.
• A. Agrawal and G. N. Mandelker.  “Managerial Incentives and Corporate Investment and Financing Decisions.”  The Journal of Finance, September 1987, V. 42(4), pp. 823-837.

Corporate Control and M&A

• A. Agrawal, T. Cooper, Q. Lian, and Q. Wang, “Does Hiring M&A Advisers Matter for Private Sellers?” Quarterly Journal of Finance, March 2023, V. 13(1), 1-45.

• A. Agrawal, T. Cooper, Q. Lian, and Q. Wang, “Common Advisors in Mergers and Acquisitions Determinants and Consequences.” Journal of Law and Economics, August 2013, V. 56(3), 691-740.

• A. Agrawal and T. Nasser. “Insider Trading in Takeover Targets.” Journal of Corporate Finance, V. 18(3), June 2012, 598-625.

• A. Agrawal and J. Jaffe. “Do Takeover Targets Under-perform? Evidence from Operating and Stock Returns.”  Journal of Financial and Quantitative Analysis, December 2003, V. 38(5), 721-746.

• A. Agrawal and J. Jaffe. “The Post-merger Performance Puzzle.” Cary Cooper and Alan Gregory, eds., Advances in Mergers and Acquisitions, V. 1, New York, NY: Elsevier Science, 2000, 7-41.

• A. Agrawal and C. Knoeber. “Managerial Compensation and the Threat of Takeover.” Journal of Financial Economics, February 1998, V. 47(2), 219-239.

• A. Agrawal and R. Walkling. “Executive Careers and Compensation Surrounding Takeover Bids.” The Journal of Finance, July 1994, V. 49(3), 985-1014.

• A. Agrawal and J. Jaffe. “Does Section 16b Deter Insider Trading by Target Managers?” Journal of Financial Economics, October-November 1995, V. 39(2 & 3), 295-319.

• A. Agrawal, J. Jaffe and G. N. Mandelker. “The Post-Merger Performance of Acquiring Firms: A Re-examination of an Anomaly.” Journal of Finance, September 1992, V. 47(4), pp. 1605-1621.

• A. Agrawal and G. N. Mandelker. “Large Shareholders and the Monitoring of Managers:  The Case of Anti-takeover Charter Amendments.” Journal of Financial and Quantitative Analysis, June 1990, V. 25(2), pp. 143-161.
• A. Agrawal and G. N. Mandelker.  “Managerial Incentives and Corporate Investment and Financing Decisions.”  The Journal of Finance, September 1987, V. 42(4), pp. 823-837.

Corporate Fraud, Litigation and Scandals

• B. K. Adhikari, A. Agrawal and J. Malm. “Do Women Managers Keep Firms Out of Trouble? Evidence from Corporate Litigation and Policies.” Journal of Accounting and Economics, 67(1), February 2019, 202-225.

• A. Agrawal and T. Cooper. “Corporate Governance Consequences of Accounting Scandals: Evidence from Top Management, CFO and Auditor Turnover.” Quarterly Journal of Finance, 7(1), 2017, 1-41 (lead article).

• A. Agrawal and T. Cooper, “Insider Trading Before Accounting Scandals.” Journal of Corporate Finance, V. 34, October 2015, 169-190.

• A. Agrawal and T. Cooper. “Accounting Scandals in IPO Firms: Do Underwriters and VCs Help?” Journal of Economics and Management Strategy, V. 19(4), Winter2010, 1117–1181.

• A. Agrawal and S. Chadha. “Corporate Governance and Accounting Scandals.” Journal of Law and Economics, October 2005, V. 48(2), 371-406.
• A. Agrawal, J. Jaffe, and J. Karpoff. “Management Turnover and Governance Changes Following the Revelation of Fraud.” Journal of Law and Economics, April 1999, V. 42(1), 23-56.

Behavioral Corporate Finance

• B. K. Adhikari, A. Agrawal and J. Malm. “Do Women Managers Keep Firms Out of Trouble? Evidence from Corporate Litigation and Policies.” Journal of Accounting and Economics, 67(1), February 2019, 202-225.

• A. Agrawal and Y. Lim. “Local Obesity Prevalence and Corporate Policies.” Quarterly Journal of Finance 8(2), June 2018, 1-33.

• B. K. Adhikari and A. Agrawal. “Religion, Gambling Attitudes and Corporate Innovation.”Journal of Corporate Finance, V. 37, April 2016, 229-248.
  • Internet Appendix
• B. K. Adhikari and A. Agrawal. “Does Local Religiosity Matter for Bank Risk-Taking?”Journal of Corporate Finance, V. 38, June 2016, 272–293.
  • Internet Appendix

Capital Structure and Dividend Policy

• B. K. Adhikari and A. Agrawal. “Peer Influence on Payout Policies.” Journal of Corporate Finance 48, February 2018, 615-637.

• A. Agrawal and J. Narayanan. “Agency Costs, Ownership Control, and Dividend Policy: A Direct Test of the Free Cash Flow Theory.” Managerial and Decision Economics, March-April 1994, V. 15(2), 139-148.
• A. Agrawal and N. J. Nagarajan. “Corporate Capital Structure, Agency Costs and Ownership Control: The Case of All-equity Firms.”  Journal of Finance, September 1990, V. 45(4), pp. 1325-1331.

Corporate Financing and Investment

• B. Sharma, B. K. Adhikari, A. Agrawal, B. R. Arthur and M. K. Rabarison. “Unintended Consequences of the Dodd-Frank Act on Credit Rating Risk and Corporate Finance.” Journal of Financial and Quantitative Analysis, September 2022, 57(6), 2286–2323.

• A. Agrawal and T. Nasser. “Corporate Financial and Investment Policies in the Presence of a Blockholder on the Board.” Quarterly Journal of Finance 8(3), September 2018, 1-59.
• A. Agrawal and G. N. Mandelker.  “Managerial Incentives and Corporate Investment and Financing Decisions.”  The Journal of Finance, September 1987, V. 42(4), pp. 823-837.

Commercial and Investment Banking

• A. Agrawal, T. Cooper, Q. Lian, and Q. Wang, “Does Hiring M&A Advisers Matter for Private Sellers?” Quarterly Journal of Finance, March 2023, V. 13(1), 1-45.

• B. K. Adhikari and A. Agrawal. “Does Local Religiosity Matter for Bank Risk-Taking?”Journal of Corporate Finance, V. 38, June 2016, 272–293.
  • Internet Appendix
• A. Agrawal, T. Cooper, Q. Lian, and Q. Wang, “Common Advisors in Mergers and Acquisitions Determinants and Consequences.” Journal of Law and Economics, V. 56(3), August 2013, 691-740.

• A. Agrawal and M. Chen. “Analyst Conflicts and Research Quality.” Quarterly Journal of Finance, V. 2(2), June 2012, 179-218.

• A. Agrawal and T. Cooper. “Accounting Scandals in IPO Firms: Do Underwriters and VCs Help?” Journal of Economics and Management Strategy, V. 19(4), Winter2010, 1117–1181.
• A. Agrawal and M. Chen. “Do Analyst Conflicts Matter? Evidence from Stock Recommendations.” Journal of Law and Economics, August 2008, V. 51(3), 503-537

Corporate Innovation

• B. K. Adhikari and A. Agrawal. “Religion, Gambling Attitudes and Corporate Innovation.”Journal of Corporate Finance, V. 37, April 2016, 229-248.
  • Internet Appendix

Venture Capital and IPOs

• A. Agrawal and T. Cooper. “Accounting Scandals in IPO Firms: Do Underwriters and VCs Help?” Journal of Economics and Management Strategy, V. 19(4), Winter2010, 1117–1181.

Security Analysts

• A. Agrawal and M. Chen. “Analyst Conflicts and Research Quality.” Quarterly Journal of Finance, V. 2(2), June 2012, 179-218.

• A. Agrawal and M. Chen. “Do Analyst Conflicts Matter? Evidence from Stock Recommendations.” Journal of Law and Economics, August 2008, V. 51(3), 503-537.
• A. Agrawal, S. Chadha and M. Chen. “Who is Afraid of Reg FD? The Behavior and Performance of Sell-side Analysts Following the SEC’s Fair Disclosure Rules.”Journal of Business, November 2006, V. 79(6), 2811-2834.

Information and Market Efficiency

• M. Azimi and A. Agrawal, “Is Positive Sentiment in Corporate Annual Reports Informative? Evidence from Deep Learning.” Review of Asset Pricing Studies, December 2021, V. 11(4), 762–805.
  • Code
• A. Agrawal and M. Chen. “Analyst Conflicts and Research Quality.” Quarterly Journal of Finance, V. 2(2), June 2012, 179-218.

• A. Agrawal and M. Chen. “Do Analyst Conflicts Matter? Evidence from Stock Recommendations.” Journal of Law and Economics, August 2008, V. 51(3), 503-537.

• A. Agrawal, S. Chadha and M. Chen. “Who is Afraid of Reg FD? The Behavior and Performance of Sell-side Analysts Following the SEC’s Fair Disclosure Rules.”Journal of Business, November 2006, V. 79(6), 2811-2834.

• A. Agrawal and J. Jaffe. “The Post-merger Performance Puzzle.” Cary Cooper and Alan Gregory, eds., Advances in Mergers and Acquisitions, V. 1, New York, NY: Elsevier Science, 2000, 7-41.

• A. Agrawal and K. Tandon. “Anomalies or Illusions? Evidence from Stock Markets in Nineteen Countries.” Journal of International Money and Finance, February 1994, V. 13(1), 83-106.
• A. Agrawal, J. Jaffe and G. N. Mandelker. “The Post-Merger Performance of Acquiring Firms: A Re-examination of an Anomaly.” The Journal of Finance, September 1992, V. 47(4), pp. 1605-1621.

Insider Trading

• A. Agrawal and T. Cooper, “Insider Trading Before Accounting Scandals.” Journal of Corporate Finance, V. 34, October 2015, 169-190.

• A. Agrawal and T. Nasser. “Insider Trading in Takeover Targets.” Journal of Corporate Finance, V. 18(3), June 2012, 598-625.
• A. Agrawal and J. Jaffe. “Does Section 16b Deter Insider Trading by Target Managers?” Journal of Financial Economics, October-November 1995, V. 39(2 & 3), 295-319.

Big Data and Machine Learning

• M. Azimi and A. Agrawal, “Is Positive Sentiment in Corporate Annual Reports Informative? Evidence from Deep Learning.” Review of Asset Pricing Studies, December 2021, V. 11(4), 762–805.