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Dive into the research topics where Abigail S. Hornstein is active.

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Featured researches published by Abigail S. Hornstein.


Journal of Economics and Management Strategy | 2011

Corporate Capital Budgeting Decisions and Information Sharing

Abigail S. Hornstein; Minyuan Zhao

Firms must overcome agency and information asymmetry problems to make efficient corporate capital budgeting decisions; this is particularly true for firms with multiple units dispersed across geographic locations. Internal communication and coordination may therefore be crucial in reducing information asymmetry and achieving efficient resource allocation. We examine the relationship between corporate capital budgeting decisions and the degree of internal information sharing using a dataset of 342 U.S. firms from 1993 to 2002. Information sharing is measured by the internal linkages observed in firms’ research and development (R&D) activities worldwide. The efficiency of a firm’s capital budgeting decisions is measured by the deviation of the firm’s estimated marginal q from the theoretical tax-adjusted benchmark. We observe a significant relationship between value-enhancing capital budgeting decisions and stronger internal linkages. Specifically, corporate over-investment is significantly reduced with better information sharing across units. All results are robust to firm- and industry–level controls.


Journal of Empirical Finance | 2009

Multinationals Do it Better: Evidence on the Efficiency of Corporations' Capital Budgeting

William H. Greene; Abigail S. Hornstein; Lawrence J. White


Economics Letters | 2012

Usage of an estimated coefficient as a dependent variable

Abigail S. Hornstein; William H. Greene


Journal of Corporate Finance | 2013

Corporate Capital Budgeting and CEO Turnover

Abigail S. Hornstein


International Review of Financial Analysis | 2014

Is More Less? Propensity to Diversify via M&A and Market Reactions

Abigail S. Hornstein; Zachary Nguyen


China Economic Review | 2014

The Impact of Local Governance Institutions on Foreign Market Listings: The Case of Chinese Firms

Abigail S. Hornstein


Journal of Comparative Economics | 2011

Where a contract is signed determines its value: Chinese provincial variation in utilized vs. contracted FDI flows

Abigail S. Hornstein


Archive | 2013

Managerial Investment in Mutual Funds

Abigail S. Hornstein; James Hounsell


Strategic Management Journal | 2018

Reaching through the fog: Institutional environment and cross-border giving of corporate foundations

Abigail S. Hornstein; Minyuan Zhao


China Economic Review | 2017

Words vs. actions: International variation in the propensity to fulfil investment pledges in China

Abigail S. Hornstein

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Zachary Nguyen

University of California

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