University of Southern California

Harry DeAngelo
Kenneth King Stonier Chair in Business Administration and Professor of Finance and Business Economics

USC Marshall School of Business
Los Angeles, CA 90089-0808

Phone: 
213-740-6541
Education: 
PhD, BA, UCLA

Overview

Harry DeAngelo specializes in corporate finance, with a focus on payout policy, capital structure, and corporate governance. His work has been published in the Journal of Financial Economics, Journal of Finance, and American Economic Review, and he received the Jensen Prize for best corporate finance paper in the Journal of Financial Economics in 2004 and 2011. He served as Associate Editor for the Journal of Financial Economics and Journal of Finance, and as an American Finance Association director. Professor DeAngelo received a Golden Apple Award in 1999, and Business Week named him one of Marshall's two most popular teachers in 2000.

Research

De Angelo, H. C., Deangelo, L., and Whited, T. M. (2011) "Capital Structure Dynamics and Transitory Debt," Journal of Financial Economics, 99, 235-261.
De Angelo, H. C., Deangelo, L., and Stulz, R. M. (2010) "Seasoned Equity Offerings, Market Timing, and the Corporate Lifecycle," Journal of Financial Economics, 95 (March 2010), 275-295.
De Angelo, H. C., Deangelo, L., and Skinner, D. J. (2009) "Corporate Payout Policy," Foundations and Trends in Finance.
De Angelo, H. C., and Deangelo, L. (2007) "Capital Structure, Payout Policy, and Financial Flexibility,".
De Angelo, H. C., and Deangelo, L. (2007) "Payout Policy Pedagogy: What Matters and Why," European Financial Management, January 2007, 11-27.
De Angelo, H. C., and Deangelo, L. (2006) "The Irrelevance of the MM Dividend Irrelevance Theorem," Journal of Financial Economics 293-315.
De Angelo, H. C., Deangelo, L., and Stulz, R. M. (2006) "Dividend Policy and the Earned/Contributed Capital Mix: A Test of the Lifecycle Theory," Journal of Financial Economics, 81, 227-254.
De Angelo, H. C., Deangelo, L., and Skinner, D. J. (2004) "Are Dividends Disappearing? Dividend Concentration and the Consolidation of Earnings," Journal of Financial Economics 425-456.
De Angelo, H. C., Deangelo, L., and Wruck, K. H. (2002) "Asset Liquidity, Debt Covenants, and Managerial Discretion in Financial Distress: The Collapse of L.A. Gear," Journal of Financial Economics 3-34.
De Angelo, H. C., Deangelo, L., and Skinner, D. J. (2000) "Special Dividends and the Evolution of Dividend Signaling," Journal of Financial Economics 309-354.
De Angelo, H. C., and Deangelo, L. (2000) "Controlling Stockholders and the Disciplinary Role of Corporate Payout Policy: A Study of the Times Mirror Company," Journal of Financial Economics 153-207.
De Angelo, H. C., and Deangelo, L. (1998) "Ancient Redwoods and the Politics of Finance: The Hostile Takeover of the Pacific Lumber Company," Journal of Financial Economics 3-53.
De Angelo, H. C., Deangelo, L., and Skinner, D. J. (1996) "Perceptions and the Politics of Finance: Junk Bonds and the Regulatory Seizure of First Capital Life," Journal of Financial Economics 475-511.
De Angelo, H. C., Deangelo, L., and Skinner, D. J. (1996) "Reversal of Fortune: Dividend Policy and the Disappearance of Sustained Earnings Growth," Journal of Financial Economics 341-371.
De Angelo, H. C., Deangelo, L., and Gilson, S. C. (1994) "The Collapse of First Executive Corporation: Junk Bonds, Adverse Publicity, and the "Run on the Bank" Phenomenon," Journal of Financial Economics 287-336.
De Angelo, H. C., Deangelo, L., and Skinner, D. J. (1994) "Accounting Choice in Troubled Companies," Journal of Accounting and Economics 113-143.
De Angelo, H. C., Deangelo, L., and Skinner, D. J. (1992) "Dividends and Losses," Journal of Finance 1837-1863.
De Angelo, H. C., "Fisher Separation Theorem," in The New Palgrave Dictionary of Money and Finance 1992.
De Angelo, H. C., and Deangelo, L., "Proxy Contests," in The New Palgrave Dictionary of Money and Finance 1992.
De Angelo, H. C., and Deangelo, L. (1991) "Union Negotiations and Corporate Policy: A Study of Labor Concessions in the Domestic Steel Industry During the 1980's," Journal of Financial Economics 3-43.
De Angelo, H. C. (1991) "Payout Policy and Tax Deferral," Journal of Finance 357-368.
De Angelo, H. C., and Deangelo, L. (1990) "Dividend Policy and Financial Distress: An Empirical Investigation of Troubled NYSE Firms," Journal of Finance 1415-1431.
De Angelo, H. C., and Deangelo, L. (1989) "Proxy Contests and the Governance of Publicly Held Corporations," Journal of Financial Economics 29-59.
Dann, L. Y., and De Angelo, H. C. (1988) "Corporate Financial Policy and Corporate Control: A Study of Defensive Adjustments in Asset and Ownership Structure," Journal of Financial Economics 87-127.
De Angelo, H. C., and Deangelo, L., "Management Buyouts of Publicly-Traded Corporations," in Copeland, T., eds., Modern Finance and Industrial Economics: Papers in Honor of J. Fred Weston 1987.
De Angelo, H. C., and Deangelo, L. (1985) "Managerial Ownership of Voting Rights: A Study of Public Corporations with Dual Classes of Common Stock," Journal of Financial Economics 33-69.
De Angelo, H. C., Deangelo, L., and Rice, E. M. (1984) "Going Private: Minority Freezeouts and Stockholder Wealth," Journal of Law and Econimics 367-401.
De Angelo, H. C., Deangelo, L., and Rice, E. M. (1984) "Going Private: The Effects of a Change in Corporate Ownership Structure," Midland Corporate Finance Journal 11-13.
De Angelo, H. C., and Rice, E. M. (1983) "Antitakeover Charter Amendments and Stockholder Wealth," Journal of Financial Economics 329-359.
Dann, L. Y., and De Angelo, H. C. (1983) "Standstill Agreements, Privately Negotiated Stock Repurchases, and the Market for Corporate Control," Journal of Financial Economics 275-300.
De Angelo, H. C. (1981) "Competition and Unanimity," American Economic Review 18-29.
De Angelo, H. C., and Masulis, R. W. (1980) "Leverage and Dividend Irrelevancy Under Corporate and Personal Taxation," Journal of Finance 453-464.
De Angelo, H. C., and Masulis, R. W. (1980) "Optimal Capital Structure Under Corporate and Personal Taxation," Journal of Financial Economics 3-29.
De Angelo, H. C., Deangelo, L., and Zimmerman, J. L. "What's Really Wrong with U.S. Business Schools?," University of Southern California and University of Rochester.