University of Southern California

Linda De Angelo
Research Professor Emeritus of Finance and Business Economics and Kenneth King Stonier Chair in Business Administration

USC Marshall School of Business
Los Angeles, CA 90089-0804

Phone: 
213-740-3868
Education: 
PhD, University of Washington; MS, University of Oregon; BM, University of Southern California

Overview

Linda DeAngelo specializes in corporate finance, and has studied corporate governance, voting rights, disclosure policy, accounting manipulation, and auditor independence. Her work has been published in the Journal of Finance, Journal of Financial Economics, Journal of Accounting and Economics, Journal of Accounting Research, and the Accounting Review. She received the Jensen Prize for best paper in corporate finance in the JFE in 2004. Professor DeAngelo served as Associate Editor of JAE and on the editorial board of TAR. She received a Golden Apple Award in 2002, and Business Week named her one of Marshall's two most popular professors 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) "Payout Policy Pedagogy: What Matters and Why," European Financial Management, January 2007, 11-27.
De Angelo, H. C., and Deangelo, L. (2007) "Capital Structure, Payout Policy, and Financial Flexibility,".
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., 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., and Deangelo, L. (1990) "Dividend Policy and Financial Distress: An Empirical Investigation of Troubled NYSE Firms," Journal of Finance 1415-1431.
Collins, D. W., and Deangelo, L. (1990) "Accounting Information and Corporate Governance: Market and Analyst Reactions to Earnings of Firms Engaged in Proxy Contests," Journal of Accounting and Economics 213-247.
Deangelo, L. (1990) "Equity Valuation and Corporate Control," The Accounting Review 93-112.
De Angelo, H. C., and Deangelo, L. (1989) "Proxy Contests and the Governance of Publicly Held Corporations," Journal of Financial Economics 29-59.
Deangelo, L. (1988) "Discussion of "Evidence of Earnings Management from the Provision for Bad Debts"," Journal of Accounting Research 32-40.
Deangelo, L. (1988) "Managerial Competition, Information Costs, and Corporate Governance: The Use of Accounting Performance Measures in Proxy Contests," Journal of Accounting 3-36.
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.
Deangelo, L. (1986) "Accounting Numbers as Market Valuation Substitutes: A Study of Management Buyouts of Public Stockholders," The Accounting Review 400-420.
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.
Deangelo, L. (1982) "Mandated Successful Efforts and Auditor Choice," Journal of Accounting and Economics.
Deangelo, L. (1982) "Unrecorded Human Assets and the 'Hold Up' Problem," Journal of Accounting Research 272-274.
Deangelo, L. (1981) "Auditor Size and Audit Quality," Journal of Accounting and Economics 183-199.
Deangelo, L. (1981) "Auditor Independence, 'Low Balling,' and Disclosure Regulation," Journal of Accounting and Economics 113-127.
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.