{"id":"https://openalex.org/W2116244102","doi":"https://doi.org/10.1111/0022-1082.00409","title":"Feedback from Stock Prices to Cash Flows","display_name":"Feedback from Stock Prices to Cash Flows","publication_year":2001,"publication_date":"2001-12-01","ids":{"openalex":"https://openalex.org/W2116244102","doi":"https://doi.org/10.1111/0022-1082.00409","mag":"2116244102"},"language":"en","primary_location":{"id":"doi:10.1111/0022-1082.00409","doi":"https://doi.org/10.1111/0022-1082.00409","is_oa":false,"landing_page_url":"https://doi.org/10.1111/0022-1082.00409","pdf_url":null,"source":{"id":"https://openalex.org/S5353659","display_name":"The Journal of Finance","issn_l":"0022-1082","issn":["0022-1082","1540-6261"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Finance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5041928817","display_name":"Avanidhar Subrahmanyam","orcid":"https://orcid.org/0000-0001-8496-7646","observed_orcids":["https://orcid.org/0000-0001-8496-7646"]},"institutions":[{"id":"https://openalex.org/I161318765","display_name":"University of California, Los Angeles","ror":"https://ror.org/046rm7j60","country_code":"US","type":"education","lineage":["https://openalex.org/I161318765"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Avanidhar Subrahmanyam","raw_affiliation_strings":["Anderson Graduate School of Management University of California at Los Angeles"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Anderson Graduate School of Management University of California at Los Angeles","institution_ids":["https://openalex.org/I161318765"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5011644728","display_name":"Sheridan D. Titman","orcid":"https://orcid.org/0000-0002-0935-7394","observed_orcids":["https://orcid.org/0000-0002-0935-7394"]},"institutions":[{"id":"https://openalex.org/I86519309","display_name":"The University of Texas at Austin","ror":"https://ror.org/00hj54h04","country_code":"US","type":"education","lineage":["https://openalex.org/I86519309"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Sheridan Titman","raw_affiliation_strings":["College of Business Administration at the University of Texas at Austin"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"College of Business Administration at the University of Texas at Austin","institution_ids":["https://openalex.org/I86519309"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":4430,"currency":"USD","value_usd":4430},"apc_paid":null,"fwci":25.9401,"has_fulltext":false,"cited_by_count":272,"citation_normalized_percentile":{"value":0.99106568,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":96,"max":100},"biblio":{"volume":"56","issue":"6","first_page":"2389","last_page":"2413"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.5547000169754028,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.5547000169754028,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.21299999952316284,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.08470000326633453,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/stock-prices","display_name":"stock prices","score":0.640999972820282},{"id":"https://openalex.org/keywords/cash-flow","display_name":"cash flow","score":0.7829999923706055},{"id":"https://openalex.org/keywords/cascades","display_name":"cascades","score":0.8130000233650208},{"id":"https://openalex.org/keywords/asset-value","display_name":"asset value","score":0.421999990940094},{"id":"https://openalex.org/keywords/information-costs","display_name":"information costs","score":0.8489999771118164},{"id":"https://openalex.org/keywords/risk-aversion","display_name":"risk aversion","score":0.9100000262260437}],"concepts":[{"id":"https://openalex.org/C91602232","wikidata":"https://www.wikidata.org/wiki/Q756115","display_name":"Volatility (finance)","level":2,"score":0.6793773174285889},{"id":"https://openalex.org/C163428354","wikidata":"https://www.wikidata.org/wiki/Q1047513","display_name":"Cash flow","level":2,"score":0.6208872199058533},{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.6042169332504272},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.535595178604126},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.4954620599746704},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.44946131110191345},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.43026167154312134},{"id":"https://openalex.org/C2778083465","wikidata":"https://www.wikidata.org/wiki/Q693464","display_name":"Cash","level":2,"score":0.42930951714515686},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.355598509311676},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.33670774102211},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3231293559074402},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1111/0022-1082.00409","doi":"https://doi.org/10.1111/0022-1082.00409","is_oa":false,"landing_page_url":"https://doi.org/10.1111/0022-1082.00409","pdf_url":null,"source":{"id":"https://openalex.org/S5353659","display_name":"The Journal of Finance","issn_l":"0022-1082","issn":["0022-1082","1540-6261"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Finance","raw_type":"journal-article"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.43.647","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.43.647","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://www.anderson.ucla.edu/acad_unit/finance/23-98.pdf","raw_type":"text"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"score":0.7200000286102295,"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":44,"referenced_works":["https://openalex.org/W1505930367","https://openalex.org/W1982821891","https://openalex.org/W1983106556","https://openalex.org/W1985808284","https://openalex.org/W1991567646","https://openalex.org/W2000633988","https://openalex.org/W2003585864","https://openalex.org/W2011062065","https://openalex.org/W2013283193","https://openalex.org/W2013860961","https://openalex.org/W2015444095","https://openalex.org/W2032308740","https://openalex.org/W2034467361","https://openalex.org/W2050031929","https://openalex.org/W2056238342","https://openalex.org/W2062269483","https://openalex.org/W2063031643","https://openalex.org/W2064526738","https://openalex.org/W2070720254","https://openalex.org/W2071320584","https://openalex.org/W2076231812","https://openalex.org/W2078606772","https://openalex.org/W2081341649","https://openalex.org/W2089052482","https://openalex.org/W2091957067","https://openalex.org/W2100876305","https://openalex.org/W2118286204","https://openalex.org/W2132499788","https://openalex.org/W2135241016","https://openalex.org/W2142856961","https://openalex.org/W2157495061","https://openalex.org/W2157509893","https://openalex.org/W2159935017","https://openalex.org/W2162394870","https://openalex.org/W2168352563","https://openalex.org/W2323266160","https://openalex.org/W2508301651","https://openalex.org/W2889788174","https://openalex.org/W3121438267","https://openalex.org/W3123917822","https://openalex.org/W3125769591","https://openalex.org/W4206322087","https://openalex.org/W4235681660","https://openalex.org/W4255461888"],"related_works":["https://openalex.org/W3122509560","https://openalex.org/W6991225938","https://openalex.org/W1490698921","https://openalex.org/W2124128644","https://openalex.org/W2124399466","https://openalex.org/W2305882332","https://openalex.org/W2186681972","https://openalex.org/W6922826415","https://openalex.org/W6954694285","https://openalex.org/W1590200874"],"abstract_inverted_index":{"ABSTRACT":[0],"Feedback":[1],"from":[2],"financial":[3],"market":[4],"prices":[5],"to":[6],"cash":[7],"flows":[8],"arises":[9],"when":[10],"a":[11],"firm's":[12],"nonfinancial":[13],"stakeholders,":[14],"for":[15],"example,":[16],"its":[17],"customers,":[18],"employees,":[19],"and":[20,61,79],"suppliers,":[21,78],"make":[22],"decisions":[23],"that":[24],"are":[25],"contingent":[26],"on":[27],"the":[28,32,55,65,68,73,80],"information":[29,66],"revealed":[30],"by":[31],"price.":[33],"Complementarities":[34],"across":[35],"stakeholders":[36],"result":[37],"in":[38,49],"cascades,":[39],"wherein":[40],"relatively":[41],"small":[42],"stock":[43],"price":[44],"moves":[45],"trigger":[46],"substantial":[47],"changes":[48],"asset":[50],"values.":[51],"This":[52],"paper":[53],"analyzes":[54],"relation":[56],"between":[57],"such":[58,63],"feedback":[59],"effects":[60],"parameters":[62],"as":[64],"cost,":[67],"volatility":[69],"of":[70,76,82],"existing":[71],"projects,":[72],"risk":[74],"aversion":[75],"liquidity":[77],"precision":[81],"managerial":[83],"information.":[84]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":7},{"year":2024,"cited_by_count":19},{"year":2023,"cited_by_count":14},{"year":2022,"cited_by_count":24},{"year":2021,"cited_by_count":10},{"year":2020,"cited_by_count":20},{"year":2019,"cited_by_count":15},{"year":2018,"cited_by_count":11},{"year":2017,"cited_by_count":14},{"year":2016,"cited_by_count":16},{"year":2015,"cited_by_count":9},{"year":2014,"cited_by_count":11},{"year":2013,"cited_by_count":13},{"year":2012,"cited_by_count":7}],"updated_date":"2026-10-27T15:51:10.671819","created_date":"2016-06-24T00:00:00"}
