Heitor Almeida

20022018
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Research Output 2002 2018

2018

Do Firms Hedge During Distress?

Hankins, K., Williams, R. & Almeida, H., 2018.

Research output: Working paper

The Effect of Obamacare on Firm Employment and Performance

Huang, R., Liu, P., Xuan, Y. & Almeida, H., 2018.

Research output: Working paper

Why Do Firms Tie Compensation to Earnings-per-share (EPS)?

Cheng, Y. & Almeida, H., 2018.

Research output: Working paper

2017

Bank Lines of Credit as Contingent Liquidity: Covenant Violations and Their Implications

Acharya, V. V., Almeida, H., Ippolito, F. & Perez-Orive, A., Oct 16 2017.

Research output: Working paper

Violations
Liquidity
Credit
Covenant
Financial health

More Cash, Less Innovation: The Effect of the American Jobs Creation Act on Patent Value

Almeida, H., Hsu, P-H., Li, D. & Tseng, K., Apr 18 2017.

Research output: Working paper

Innovation
Cash
Job creation
Patent value
Patents

Risk management with supply contracts

Almeida, H., Hankins, K. W. & Williams, R., Dec 1 2017, In : Review of Financial Studies. 30, 12, p. 4179-4215 37 p.

Research output: Contribution to journalArticle

Supply contracts
Obligation
Purchase
Risk management
Steel

The Real Effects of Credit Ratings: The Sovereign Ceiling Channel

Almeida, H., Cunha, I., Ferreira, M. A. & Restrepo, F., Feb 1 2017, In : Journal of Finance. 72, 1, p. 249-290 42 p.

Research output: Contribution to journalArticle

Rating
Credit rating
Sovereign ratings
Impairment
Cost of debt

Understanding the Credit Multiplier: The Working Capital Channel

Almeida, H., Carvalho, D. R. & Kim, T., Nov 16 2017.

Research output: Working paper

Financing
Credit
Multiplier
Working capital
Oil price shocks
2016

Credit Lines and the Liquidity Insurance Channel

Acharya, V. V., Almeida, H., Ippolito, F. & Perez-Orive, A., Jun 15 2016.

Research output: Working paper

Liquidity
Credit
Insurance
Loans
Health

The real effects of share repurchases

Almeida, H., Fos, V. & Kronlund, M., Jan 1 2016, In : Journal of Financial Economics. 119, 1, p. 168-185 18 p.

Research output: Contribution to journalArticle

Earnings per share
Share repurchases
Repurchase
Analysts
Cash holdings
2015

Assessing the performance of estimators dealing with measurement errors

Almeida, H., Campello, M. & Galvao, A. F., Jan 1 2015, Handbook of Financial Econometrics and Statistics. Springer New York, p. 1563-1617 55 p.

Research output: Chapter in Book/Report/Conference proceedingChapter

Measurement Error
Estimator
Econometrics
Instrumental Variables
Skewness

Internal Capital Markets in Business Groups: Evidence from the Asian Financial Crisis

Almeida, H., Kim, C. S. & Kim, H. B., Dec 1 2015, In : Journal of Finance. 70, 6, p. 2539-2586 48 p.

Research output: Contribution to journalArticle

Internal capital markets
Business groups
Asian financial crisis
Chaebol
Capital reallocation

Introduction: New perspectives on corporate capital structures

Acharya, V. V., Almeida, H. & Baker, M., Jan 1 2015, In : Journal of Financial Economics. 118, 3, p. 551-552 2 p.

Research output: Contribution to journalEditorial

Capital structure
2014

Corporate liquidity management: A conceptual framework and survey

Almeida, H., Campello, M., Cunha, I. & Weisbach, M. S., Jan 1 2014, In : Annual Review of Financial Economics. 6, p. 135-162 28 p.

Research output: Contribution to journalReview article

Conceptual framework
Corporate liquidity
Liquidity
Liquidity management
John Maynard Keynes

Credit lines as monitored liquidity insurance: Theory and evidence

Acharya, V., Almeida, H., Ippolito, F. & Perez, A., Jan 1 2014, In : Journal of Financial Economics. 112, 3, p. 287-319 33 p.

Research output: Contribution to journalArticle

Insurance
Liquidity
Credit
Liquidity risk
Corporate bonds
2013

Aggregate risk and the choice between cash and lines of credit

Acharya, V. V., Almeida, H. & Campello, M., Oct 1 2013, In : Journal of Finance. 68, 5, p. 2059-2116 58 p.

Research output: Contribution to journalArticle

Cash
Credit
Idiosyncratic risk
Pooling
Maturity
2012

Identifying thresholds for object-oriented software metrics

Ferreira, K. A. M., Bigonha, M. A. S., Bigonha, R. S., Mendes, L. F. O. & Almeida, H. C., 2012, In : Journal of Systems and Software. 85, 2, p. 244 - 257

Research output: Contribution to journalArticle

Industry
Experiments

Universal banking - Editors' introduction

Almeida, H., Baer, W. & Campello, M., May 1 2012, In : Quarterly Review of Economics and Finance. 52, 2, 1 p.

Research output: Contribution to journalEditorial

Universal banking
2011

Corporate financial and investment policies when future financing is not frictionless

Almeida, H., Campello, M. & Weisbach, M. S., Jun 1 2011, In : Journal of Corporate Finance. 17, 3, p. 675-693 19 p.

Research output: Contribution to journalArticle

Investment policy
Financial policy
Financing
Assets
Leverage

Liquidity mergers

Almeida, H., Campello, M. & Hackbarth, D., Dec 1 2011, In : Journal of Financial Economics. 102, 3, p. 526-558 33 p.

Research output: Contribution to journalArticle

Mergers
Liquidity
Industry
Assets
Cash

The structure and formation of business groups: Evidence from Korean chaebols

Almeida, H., Park, S. Y., Subrahmanyam, M. G. & Wolfenzon, D., Feb 1 2011, In : Journal of Financial Economics. 99, 2, p. 447-475 29 p.

Research output: Contribution to journalArticle

Business groups
Korean chaebol
Chaebol
Premium
Ownership
2010

Financing frictions and the substitution between internal and external funds

Almeida, H. & Campello, M., Jun 1 2010, In : Journal of Financial and Quantitative Analysis. 45, 3, p. 589-622 34 p.

Research output: Contribution to journalArticle

Substitution
Financing
Friction
External financing
Debt

Measurement errors in investment equations

Almeida, H., Campello, M. & Galvao, A. F., Sep 2010, In : Review of Financial Studies. 23, 9, p. 3279-3328 50 p.

Research output: Contribution to journalArticle

Measurement error
Estimator
Fixed effects
Instrumental variables
Heteroscedasticity
2009

Understanding the relationship between founder-CEOs and firm performance

Adams, R., Almeida, H. & Ferreira, D., Jan 1 2009, In : Journal of Empirical Finance. 16, 1, p. 136-150 15 p.

Research output: Contribution to journalArticle

Firm performance
Founder CEO
Chief executive officer
Proportion
Factoring
2008

Estimating Risk-Adjusted Costs of Financial Distress.

Almeida, H. & Philippon, T., 2008, In : Journal of Applied Corporate Finance. 20, 4, p. 105 - 109

Research output: Contribution to journalArticle

Financial distress
Costs
Discount rate
Leverage
Distress
2007

Financial constraints, asset tangibility, and corporate investment

Almeida, H. & Campello, M., Sep 14 2007, In : Review of Financial Studies. 20, 5, p. 1429-1460 32 p.

Research output: Contribution to journalArticle

Assets
Financial constraints
Corporate investment
Friction
Multiplier

Is cash negative debt? A hedging perspective on corporate financial policies

Acharya, V. V., Almeida, H. & Campello, M., Oct 1 2007, In : Journal of Financial Intermediation. 16, 4, p. 515-554 40 p.

Research output: Contribution to journalArticle

Hedging
Financial policy
Debt
Cash
Hedge

The risk-adjusted cost of financial distress

Almeida, H. & Philippon, T., Dec 1 2007, In : Journal of Finance. 62, 6, p. 2557-2586 30 p.

Research output: Contribution to journalArticle

Distress
Financial distress
Costs
Risk premia
Debt
2006

A theory of pyramidal ownership and family business groups

Almeida, H. & Wolfenzon, D., Dec 1 2006, In : Journal of Finance. 61, 6, p. 2637-2680 44 p.

Research output: Contribution to journalArticle

Ownership
Family business
Business groups
New firms
Deviation

Should business groups be dismantled? The equilibrium costs of efficient internal capital markets

Almeida, H. & Wolfenzon, D., Jan 1 2006, In : Journal of Financial Economics. 79, 1, p. 99-144 46 p.

Research output: Contribution to journalArticle

Conglomerate
Internal capital markets
Business groups
Costs
Capital allocation

The financial accelerator: Evidence from international housing markets

Almeida, H., Campello, M. & Liu, C., Sep 1 2006, In : Review of Finance. 10, 3, p. 321-352 32 p.

Research output: Contribution to journalReview article

Housing market
Financial accelerator
Asset prices
Fluctuations
Debt capacity
2005

Powerful CEOs and their impact on corporate performance

Adams, R. B., Almeida, H. & Ferreira, D., Dec 2005, In : Review of Financial Studies. 18, 4, p. 1403-1432 30 p.

Research output: Contribution to journalReview article

Chief executive officer
Corporate performance
Insider
Firm performance
Organizational variables

The effect of external finance on the equilibrium allocation of capital

Almeida, H. & Wolfenzon, D., Jan 1 2005, In : Journal of Financial Economics. 75, 1, p. 133-164 32 p.

Research output: Contribution to journalArticle

Investor protection
External finance
External financing
Capital allocation
Prediction
2004

The cash flow sensitivity of cash

Almeida, H., Campello, M. & Weisbach, M. S., Aug 1 2004, In : Journal of Finance. 59, 4, p. 1777-1804 28 p.

Research output: Contribution to journalReview article

Cash flow
Cash
Financial constraints
Propensity
Manufacturing firms
2002

Democracy and the variability of economic performance

Almeida, H. & Ferreira, D., Jan 1 2002, In : Economics and Politics. 14, 3, p. 225-257 33 p.

Research output: Contribution to journalArticle

Democracy
Economic performance

Optimal state-dependent rules, credibility, and inflation inertia

Almeida, H. & Bonomo, M., Oct 1 2002, In : Journal of Monetary Economics. 49, 7, p. 1317-1336 20 p.

Research output: Contribution to journalArticle

Inflation inertia
Credibility
Deviation
Disinflation
Costs