We examine the impact of managerial risk exposure on capital structure selection by comparing a sample of 123 all-equity firms to a set of levered firms matched on the basis of industry, market cap and market-to-book assets. Net debt levels decline as CEO wealth sensitivity to stock price...

We examine the corporate cost of capital and the return on corporate investment through 2005, which allows us to examine these values during the inflating and bursting of the tech bubble of the late 1990's. We examine the return on investment of tech and telecom firms separately over that time...