Gordon M. Phillips

Selected Working Papers and Publications

Current research interests are illustrated by a Ph.D. Course I have designed: BMGT 808C, Interaction of Finance and Industrial Organization. Click here to see Syllabus of my Ph.D. Course.

"Competition and Product Market Synergies in Mergers and Acquisitions," with Gerard Hoberg. Download here or E-mail authors for latest version.

"Post-Merger Restructuring and the Boundaries of the Firm," with Vojislav Maksimovic and N.R.Prabhala. Download here or E-mail authors for latest version.

Click here to download presentation slides for this paper.

"Real and Financial Industry Booms and Busts" with Jerry Hoberg. Download here or E-mail authors for latest version.

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"Conglomerate Firms and Internal Capital Markets" with Vojislav Maksimovic. Download here or E-mail authors for latest version. Forthcoming Handbook of Corporate Finance: Empirical Corporate Finance, ed. B. Espen Eckbo, Handbooks in Finance Series, Elsevier/North-Holland.

"Private and Public Security Issuance by Public Firms: The Role of Asymmetric Information" with Armando Gomes. Download here or E-mail authors for latest version.

Click here to download presentation slides for this paper.

Click here to download presentation slides for PIPE address to SRI conference on Undervalued Public Companies.

"Growth, Capital Market Development and Competition for Resources within MNCs" with Susan Feinberg.Download here or E-mail authors for latest version.

Publications:

"The Industry Life-Cycle, Acquisitions and Investment: Does Firm Organization Matter?" with Vojislav Maksimovic, Journal of Finance, 2008, 63 673-707 Download here.

Click here to download presentation slides for this paper.

"How Does Industry Affect Firm Financial Structure?" with Peter MacKay. Click here to download in Adobe PDF Format. Review of Financial Studies. December, 2005

Do Conglomerate Firms Allocate Resources Inefficiently Across Industries? Theory and Evidence, with Vojislav Maksimovic. In Adobe PDF Format. File size 295K. Also see the Abstract, Journal of Finance, April, 2002, 721-767. Research supported by NSF grant #9709427.

The Market for Corporate Assets: Who Engages in Mergers and Asset Sales and Are There Gains?, with Vojislav Maksimovic. In Adobe PDF Format. File size 925K. Also see the Abstract.   Research supported by NSF grant #9709427, Journal of Finance, December, 2001, 2019-2065 (lead article).

"Corporate Equity Ownership, Strategic Alliances and Product Market Relationships," with Jeff Allen. Download in Adobe PDF Format. Also see the Abstract. Journal of Finance, December, 2000, 55, 2791-2815.

"Asset Efficiency and the Reallocation Decisions of Bankrupt Firms." with Vojislav Maksimovic. Journal of Finance, October, 1998, 53, 1495-1532. Paper nominated for the Smith Breeden Best Paper Prize.
Download paper in Adobe PDF Format: File size 1,157K. In Postscript Format: File size 5,918K. Also see the Abstract.   Research supported by NSF grant #9709427.

"Capital Structure and Product Market Behavior: An Examination of Plant Closing and Investment Decisions," with Dan Kovenock, Review of Financial Studies, 1997, Volume 10:3. Download PDF file: Click Here.
Also see the Abstract.
To be reprinted in: The International Library of Critical Writings in Financial Economics, volume editor: Michael Brennen, series editor: Richard Roll.

"Capital Structure and Product Market Rivalry: How do We Reconcile the Theory and the Evidence." with Dan Kovenock. Also see the Abstract. Download full PDF: Click Here. American Economic Review, 1995, 85, 403-408.

"Increased Debt and Industry Product Markets: An Empirical Analysis," Also see the Abstract. Download full PDF: Click Here. Journal of Financial Economics, 1995, 37, 189-238.

"Trading Performance in Forward Markets: Information vs. Normal Backwardation," with Robert Weiner, Also see the Abstract. Download full PDF: Click Here. The Economic Journal, 1994, 104, 76-95.

"Options in Forward Contracts: Empirical Estimates from the Petroleum Market," with Robert Weiner, The Review of Futures Markets, 1990, 9, 1-14.

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© 2004 Gordon M. Phillips