Alice Bonaime

Interests

No activities entered.

Courses

Scholarly Contributions

Journals/Publications

• Bonaime, A., & Bargeron, L. (2020). Why Do Firms Disagree with Short Sellers? Managerial Myopia versus Private Information. Journal of Financial and Quantitative Analysis, 55, 2431-2465.
• Bonaime, A., Harford, J., & Moore, D. (2020). Payout Policy Tradeoffs and the Rise of 10b5-1 Present Repurchase Plans. Management Science, 66, 2762-2786.
• Bonaime, A., Bargeron, L., & Thomas, S. (2017). The Timing and Source of Long-run Returns Following Repurchases. Journal of Financial and Quantitative Analysis, 52(2), 491-517.
• Bonaime, A., Ion, M. B., & Gulen, H. (2018). Does Policy Uncertainty Affect Mergers and Acquisitions?. Journal of Financial Economics.
• Bonaime, A. (2015). Mandatory Disclosure and Firm Behavior: Evidence from Share Repurchases. The Accounting Review, 90, 1333-1362.
• Warr, R. S., Oztekin, O., & Bonaime, A. A. (2014). Capital structure, equity mispricing, and stock repurchases. Journal of Corporate Finance, 26, 182-200. doi:10.1016/j.jcorpfin.2014.03.007
  More info

  Abstract We evaluate motives for share repurchases using a unified framework where a firm has a target capital structure and has equity that can be mispriced. We document that capital structure adjustments are a value-increasing motive for repurchases and that the extent to which adjusting capital structure through a repurchase creates value depends on the undervaluation of the firm. Underlevered and undervalued firms enjoy the greatest economic gains from a repurchase, as evidenced by the stock price reaction to the repurchase announcement, and these firms are more likely to announce a share repurchase program.

Presentations

• Bonaime, A. (2023). Payout Smoothing and Investment Responsiveness. Eramus University Rotterdam (Invited seminar).
• Bonaime, A. (2023). Payout Smoothing and Investment Responsiveness . Queensland Corporate Finance Conference (Invited presenter).
• Bonaime, A. (2023). Discussant. American Finance Association.
• Bonaime, A. (2023). Mergers, Product Prices, and Innovation: Evidence from the Pharmaceutical Industry. Texas Tech (Invited seminar).
• Bonaime, A. (2023). Mergers, Product Prices, and Innovation: Evidence from the Pharmaceutical Industry. University of Toronto (Invited seminar).
• Bonaime, A. (2023). Mergers, Product Prices, and Innovation: Evidence from the Pharmaceutical Industry. Wayne State University (Invited seminar).
• Bonaime, A. (2023). Raising Revenue from Corporations. Urban-Brookings Tax Policy Center and the UNC Tax Center Conference (Panelist).
• Bonaime, A., & Wang, Y. (. (2020, January). Mergers, Product Prices, and Innovation: Evidence from the Pharmaceutical Industry. American Finance Association Conference Presentation.
• Bonaime, A., & Wang, Y. (. (2020, March). Mergers, Product Prices, and Innovation: Evidence from the Pharmaceutical Industry. University of Manchester - Invited Seminar.
• Bonaime, A., & Xu, J. (2021). How Does Capital Structure Impact Product Prices? Evidence from the Airline Industry. Brownbag at the University of Arizona.
• Bonaime, A., & Xu, J. (2021). How Does Capital Structure Impact Product Prices? Evidence from the Airline Industry. Middle Tennessee State University - Invited Seminar.
• Bonaime, A., & Xu, J. (2021). How Does Capital Structure Impact Product Prices? Evidence from the Airline Industry. Peking University HSBC Business School (PHBS) - Coauthor Presentation.
• Bonaime, A., & Xu, J. (2021). How Does Capital Structure Impact Product Prices? Evidence from the Airline Industry. Rotterdam School of Management of Erasmus University Corporate Finance Day Conference.
• Bonaime, A., & Xu, J. (2021). How Does Capital Structure Impact Product Prices? Evidence from the Airline Industry. University of Wisconsin (Milwaukee) - Invited Seminar.
• Bonaime, A., & Xu, J. (2021). How Does Capital Structure Impact Product Prices? Evidence from the Airline Industry. Virginia Tech - Coauthor Presentation.
• Fishback, P. V., Hammond, G. W., & Bonaime, A. (2020, May 14). “Wonder at Home: Covid 19 and the Economy”. Wonder at Home Series for the University of Arizona. Zoom for the University of Arizona Community: University of Arizona President's Office.
• Bonaime, A., & Wang, Y. (. (2019, Fall). Mergers, Product Prices, and Innovation: Evidence from the Pharmaceutical Industry. Virginia Tech - Invited Seminar.
• Bonaime, A., & Wang, Y. (. (2019, Summer). Mergers, Product Prices, and Innovation: Evidence from the Pharmaceutical Industry. University of Bristol - Invited Seminar.
• Bonaime, A., & Wang, Y. (. (2019, Summer). Mergers, Product Prices, and Innovation: Evidence from the Pharmaceutical Industry. University of Exeter - Invited Seminar.
• Bonaime, A., & Bargeron, L. (2018, January). Why do firms disagree with short sellers? Managerial myopia versus private information. American Finance Association.
• Bonaime, A., Kahle, K. M., Moore, D., & Nemani, A. (2018, October). The Evolution of Employee Compensation, Dilution, and Share Buybacks. Financial Management AssociationFinancial Management Association.
• Kahle, K. M., Bonaime, A., Nemani, A. K., & Moore, D. (2018, June 2018). The Evolution of Employee Compensation, Dilution, and Share Buybacks. Eramus Executive Compensation Conference 2018. Eramus University.
  More info

  Paper was accepted to be presented at the conference.
• Moore, D., Nemani, A., Bonaime, A., Kahle, K. M., Moore, D., Nemani, A., Bonaime, A., & Kahle, K. M. (2017, September 2017). The Evolution of Employee Compensation, Dilution, and Share Buybacks. Invited presentation - Miami University.
• Bonaime, A., Harford, J., & Moore, D. (2016, January). Commitment and Financial Flexibility in Payout Decisions: Evidence from Rule 10b5-1 Preset Repurchase Plans. American Finance Association. San Francisco.
• Bonaime, A., Ion, M. B., & Gulen, H. (2016, April). Does Policy Uncertainty Affect Mergers and Acquisitions?. Arizona State University/University of Arizona Junior Finance Conference.
• Bonaime, A., Ion, M. B., & Gulen, H. (2016, April). Does Policy Uncertainty Affect Mergers and Acquisitions?. University of Oregon - Invited Seminar.
• Bonaime, A., Harford, J., & Moore, D. (2015, September). Commitment and Financial Flexibility in Payout Decisions: Evidence from Rule 10b5-1 Preset Repurchase Plans. Northern Finance Association.