Most cited papers in Financial Reporting and Valuation Research
What are the most cited papers in Financial Reporting and Valuation Research?
The most cited paper in Financial Reporting and Valuation Research is "Corporate financing and investment decisions when firms have information that investors do not have" (Stewart C. Myers, Nicholas S. Majluf, 1984), with 19,433 citations. Next come "Determinants of corporate borrowing" (13,558) and "The Capital Structure Puzzle" (7,625).
Showing 50 of 98 papers. Every paper with more than 1,739 citations is listed.
| # | Paper | ||
|---|---|---|---|
| 1 | Corporate financing and investment decisions when firms have information that investors do not have Stewart C. Myers, Nicholas S. Majluf · Journal of Financial Economics | Jun 1984 | 19,433 |
| 2 | Determinants of corporate borrowing Stewart C. Myers · Journal of Financial Economics | Nov 1977 | 13,558 |
| 3 | The Capital Structure Puzzle Stewart C. Myers · The Journal of Finance | Jul 1984 | 7,625 |
| 4 | Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature Paul M. Healy, Krishna G. Palepu · Journal of Accounting and Economics | Sep 2001 | 7,563 |
| 5 | Theory of rational option pricing Robert C. Merton · WORLD SCIENTIFIC eBooks | Jul 2005 | 7,430 |
| 6 | Performance matched discretionary accrual measures S.P. Kothari, Andrew J. Leone, Charles E. Wasley · Journal of Accounting and Economics | 25 Jan 2005 | 7,216 |
| 7 | Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? S. N. Kaplan, Luigi Zingales · The Quarterly Journal of Economics | Feb 1997 | 6,923 |
| 8 | Higher market valuation of companies with a small board of directors David Yermack · Journal of Financial Economics | Feb 1996 | 6,870 |
| 9 | The economic implications of corporate financial reporting John Robert Graham, Campbell R. Harvey, Shiva Rajgopal · Journal of Accounting and Economics | 16 Sep 2005 | 6,759 |
| 10 | Industry costs of equity Eugene F. Fama, Kenneth R. French · Journal of Financial Economics | Feb 1997 | 6,264 |
| 11 | The relationship between return and market value of common stocks Rolf W. Banz · Journal of Financial Economics | Mar 1981 | 6,135 |
| 12 | Corporate Governance and Equity Prices Paul A. Gompers, Joy L. Ishii, Andrew Metrick · The Quarterly Journal of Economics | Feb 2003 | 6,032 |
| 13 | The theory and practice of corporate finance: evidence from the field John Robert Graham, Campbell R. Harvey · Journal of Financial Economics | May 2001 | 5,765 |
| 14 | The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors Patricia Dechow, Ilia D. Dichev · The Accounting Review | Mar 2002 | 5,414 |
| 15 | Earnings, Book Values, and Dividends in Equity Valuation* James A. Ohlson · Contemporary Accounting Research | Mar 1995 | 5,275 |
| 16 | Additional evidence on equity ownership and corporate value John J. McConnell, Henri Servaes · Journal of Financial Economics | Oct 1990 | 4,480 |
| 17 | Causes and Consequences of Earnings Manipulation: An Analysis of Firms Subject to Enforcement Actions by the SEC* Patricia Dechow, Richard G. Sloan, Amy Patricia Sweeney · Contemporary Accounting Research | Mar 1996 | 4,263 |
| 18 | A Review of the Earnings Management Literature and Its Implications for Standard Setting Paul M. Healy, James M. Wahlen · Accounting Horizons | Dec 1999 | 4,237 |
| 19 | A Comprehensive Look at The Empirical Performance of Equity Premium Prediction Ivo Welch, Amit Goyal · Review of Financial Studies | 17 Mar 2007 | 4,225 |
| 20 | Understanding earnings quality: A review of the proxies, their determinants and their consequences Patricia Dechow, Weili Ge, Catherine M. Schrand · Journal of Accounting and Economics | 24 Sep 2010 | 4,071 |
| 21 | Earnings management to avoid earnings decreases and losses David Burgstahler, Ilia D. Dichev · Journal of Accounting and Economics | Dec 1997 | 4,068 |
| 22 | The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors John Y. Campbell, Robert J. Shiller · Review of Financial Studies | Jul 1988 | 4,029 |
| 23 | The determinants and implications of corporate cash holdings Tim C. Opler · Journal of Financial Economics | Apr 1999 | 3,987 |
| 24 | The investment opportunity set and corporate financing, dividend, and compensation policies Clifford W. Smith, Ross L. Watts · Journal of Financial Economics | Dec 1992 | 3,823 |
| 25 | Managerial discretion and optimal financing policies René M. Stulz · Journal of Financial Economics | Jul 1990 | 3,806 |
| 26 | Dividend yields and expected stock returns Eugene F. Fama, Kenneth R. French · Journal of Financial Economics | Oct 1988 | 3,755 |
| 27 | Market Timing and Capital Structure Malcolm P. Baker, Jeffrey A. Wurgler · The Journal of Finance | Feb 2002 | 3,683 |
| 28 | Disclosure level and the cost of equity capital. Christine A. Botosan · The Accounting Review | Jul 1997 | 3,606 |
| 29 | Testing Trade-Off and Pecking Order Predictions About Dividends and Debt Eugene F. Fama, Kenneth R. French · Review of Financial Studies | 2002 | 3,542 |
| 30 | The effect of bonus schemes on accounting decisions Paul M. Healy · Journal of Accounting and Economics | Apr 1985 | 3,395 |
| 31 | Joint ventures: Theoretical and empirical perspectives Bruce Kogut · Strategic Management Journal | Jul 1988 | 3,367 |
| 32 | Valuing American Options by Simulation: A Simple Least-Squares Approach Francis A. Longstaff, Eduardo S. Schwartz · Review of Financial Studies | 2001 | 3,356 |
| 33 | The Effect of Audit Quality on Earnings Management* Connie L. Becker, Mark L. DeFond, James J. Jiambalvo et al. · Contemporary Accounting Research | Mar 1998 | 3,346 |
| 34 | The market pricing of accruals quality Jennifer Francis, Ryan LaFond, Per Mikael Olsson et al. · Journal of Accounting and Economics | 3 Mar 2005 | 3,240 |
| 35 | Diversification's effect on firm value Philip G. Berger, Eli Ofek · Journal of Financial Economics | 1995 | 3,214 |
| 36 | What Matters in Corporate Governance? Lucian A. Bebchuk, Alma Cohen, Allen Ferrell · Review of Financial Studies | 27 Nov 2008 | 3,112 |
| 37 | International Accounting Standards and Accounting Quality Mary E. Barth, Wayne R. Landsman, Mark H. Lang · Journal of Accounting Research | 28 Mar 2008 | 3,100 |
| 38 | Managerial incentives and risk-taking☆ Jeffrey L. Coles, Naveen D. Daniel, Lalitha Naveen · Journal of Financial Economics | 7 Sep 2005 | 3,069 |
| 39 | DEBT AND TAXES* Merton H. Miller · The Journal of Finance | May 1977 | 2,980 |
| 40 | Real and Accrual-Based Earnings Management in the Pre- and Post-Sarbanes-Oxley Periods Daniel A. Cohen, Aiyesha Dey, Thomas Z. Lys · The Accounting Review | May 2008 | 2,947 |
| 41 | Why Do U.S. Firms Hold So Much More Cash than They Used To? Thomas W. Bates, Kathleen M. Kahle, René M. Stulz · The Journal of Finance | 28 Sep 2009 | 2,944 |
| 42 | Debt covenant violation and manipulation of accruals Mark L. DeFond, James J. Jiambalvo · Journal of Accounting and Economics | 1994 | 2,902 |
| 43 | Risk Reduction as a Managerial Motive for Conglomerate Mergers Yakov Amihud, Baruch Itamar Lev · The Bell Journal of Economics | 1981 | 2,887 |
| 44 | Corporate Disclosure Policy and Analyst Behavior. Mark H. Lang, Russell J. Lundholm · The Accounting Review | Oct 1996 | 2,842 |
| 45 | Earnings management and corporate governance: the role of the board and the audit committee Biao Xie, Wallace N. Davidson, Peter J. DaDalt · Journal of Corporate Finance | 21 Jan 2003 | 2,835 |
| 46 | Capital Structure Decisions: Which Factors Are Reliably Important? Murray Z. Frank, Vidhan K. Goyal · Financial Management | Mar 2009 | 2,782 |
| 47 | Accounting earnings and cash flows as measures of firm performance Patricia Dechow · Journal of Accounting and Economics | Jul 1994 | 2,718 |
| 48 | Conservatism in Accounting Part I: Explanations and Implications Ross L. Watts · Accounting Horizons | Sep 2003 | 2,574 |
| 49 | Managerial control of voting rights René M. Stulz · Journal of Financial Economics | 1988 | 2,559 |
| 50 | Agency Costs and Ownership Structure James S. K. Ang, Rebel A. Cole, James Wuh Lin · The Journal of Finance | Feb 2000 | 2,544 |
Citations are OpenAlex's own counts, from its 2026-09-23 snapshot, so the ranking can differ from Google Scholar or Web of Science. A paper is listed for a field when OpenAlex files it under one of the field's topics; retracted papers and papers whose citation count cannot be traced to citing works are left out, and a preprint and the article it became are shown once. Release dates are OpenAlex's: where a source gave only a month or a year, that is what is shown. How the lists are chosen.