Marc L. Lipson

University of Virginia - Darden School of Business

Professor

P.O. Box 6550

Charlottesville, VA 22906-6550

United States

http://www.darden.virginia.edu/faculty/lipson.htm

SCHOLARLY PAPERS

44

DOWNLOADS
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13,200

CITATIONS
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Top 3,662

in Total Papers Citations

144

Scholarly Papers (44)

1.

Liquidity and Capital Structure

Journal of Financial Markets, Forthcoming, Darden Business School Working Paper
Number of pages: 49 Posted: 02 Mar 2006 Last Revised: 14 Jul 2013
Marc L. Lipson and Sandra Mortal
University of Virginia - Darden School of Business and University of Alabama - Culverhouse College of Commerce & Business Administration
Downloads 2,205 (6,009)
Citation 17

Abstract:

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Capital structure, Liquidity, Market microstructure

2.
Downloads 1,125 ( 17,887)
Citation 23

On the Scope and Drivers of the Asset Growth Effect

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming, Darden Business School Working Paper No. 1341298
Number of pages: 68 Posted: 12 Feb 2009 Last Revised: 14 Jul 2013
Marc L. Lipson, Sandra Mortal and Michael J. Schill
University of Virginia - Darden School of Business, University of Alabama - Culverhouse College of Commerce & Business Administration and University of Virginia - Darden School of Business
Downloads 695 (35,067)
Citation 22

Abstract:

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Investment; Stock returns; Arbitrage costs; Market efficiency

What Explains the Asset Growth Effect in Stock Returns?

Number of pages: 46 Posted: 23 Mar 2009
Marc L. Lipson, Sandra Mortal and Michael J. Schill
University of Virginia - Darden School of Business, University of Alabama - Culverhouse College of Commerce & Business Administration and University of Virginia - Darden School of Business
Downloads 430 (65,246)
Citation 6

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Arbitrage risk, Asset Growth, Mispricing, Transaction costs, Holding costs

Liquidity and Firm Characteristics: Evidence from Mergers and Acquisitions

Number of pages: 37 Posted: 13 Jul 2003
Marc L. Lipson and Sandra Mortal
University of Virginia - Darden School of Business and University of Alabama - Culverhouse College of Commerce & Business Administration
Downloads 985 (21,414)
Citation 8

Abstract:

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Mergers and Acquisitions, Liquidity, Diversification, Analyst Following, Market Microstructure

Liquidity and Firm Characteristics: Evidence from Mergers and Acquisitions

Journal of Financial Markets, Forthcoming
Posted: 20 Nov 2006
Marc L. Lipson and Sandra Mortal
University of Virginia - Darden School of Business and University of Alabama - Culverhouse College of Commerce & Business Administration

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Mergers and Acquisitions, Liquidity, Diversification, Analyst Following, Market Microstructure

4.

The Effects of Institutional Ownership and Monitoring: Evidence from Financial Restatements

Number of pages: 32 Posted: 07 Feb 2006
Natasha Burns, Simi Kedia and Marc L. Lipson
University of Texas at San Antonio - Department of Finance, Rutgers Business School and University of Virginia - Darden School of Business
Downloads 981 (21,921)
Citation 38

Abstract:

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5.

Clear, Complete, and Concise: Avoiding the Seven Deadly Sins of Analytic Writing

Darden Case No. UVA-BC-0221
Number of pages: 11 Posted: 09 Jun 2009 Last Revised: 25 May 2018
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 843 (27,315)
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Abstract:

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analytic writing, concise communication, writing

6.

The Effects of Opening and Closing Procedures on the NYSE and NASDAQ

AFA 2001 New Orleans Meetings
Number of pages: 36 Posted: 19 Jan 2001
Jeffrey Michael Bacidore and Marc L. Lipson
Goldman Sachs and University of Virginia - Darden School of Business
Downloads 794 (29,672)
Citation 12

Abstract:

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7.

Capital Structure and Value

Darden Case No. UVA-F-1611
Number of pages: 9 Posted: 07 Apr 2010
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 613 (42,082)

Abstract:

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capital structure, valuation

8.

Baker Adhesives

Darden Case No. UVA-F-1516
Number of pages: 6 Posted: 21 Oct 2008
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 607 (42,631)
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curreny, hedging, finance, international

9.

Tipping

AFA 2005 Philadelphia Meetings
Number of pages: 40 Posted: 02 Jan 2005
Paul J. Irvine, Andy Puckett and Marc L. Lipson
Neeley School of Business, University of Tennessee, Knoxville and University of Virginia - Darden School of Business
Downloads 553 (48,170)
Citation 28

Abstract:

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10.

Institutional Trading During Extreme Market Movements

Number of pages: 39 Posted: 24 Mar 2005
Andy Puckett and Marc L. Lipson
University of Tennessee, Knoxville and University of Virginia - Darden School of Business
Downloads 385 (75,189)

Abstract:

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institutions, pension funds, money managers, herding

11.

Diseconomies of Scope and Mutual Fund Performance

Darden Business School Working Paper No. 2874975
Number of pages: 55 Posted: 27 Nov 2016 Last Revised: 12 Dec 2017
Richard B. Evans, Javier Gil-Bazo and Marc L. Lipson
University of Virginia - Darden School of Business, Universitat Pompeu Fabra and University of Virginia - Darden School of Business
Downloads 383 (75,856)
Citation 1

Abstract:

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mutual fund managers, performance persistence, diseconomies of scale, diseconomies of scope

The Effects of Stock Splits on Clientele: Is Tick Size Relevant?

Number of pages: 38 Posted: 04 May 2005
Marc L. Lipson and Sandra Mortal
University of Virginia - Darden School of Business and University of Alabama - Culverhouse College of Commerce & Business Administration
Downloads 365 (79,293)
Citation 8

Abstract:

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Stock splits, Tick size, Clientele

The Effects of Stock Splits on Clientele: Is Tick Size Relevant?

Journal of Corporate Finance, Forthcoming
Posted: 20 Nov 2006
Marc L. Lipson and Sandra Mortal
University of Virginia - Darden School of Business and University of Alabama - Culverhouse College of Commerce & Business Administration

Abstract:

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Stock splits, Tick size, Clientele

13.

Price Impacts and Quote Adjustment on the NASDAQ and Nyse/Amex

Paine Webber Working Paper No. 99-08
Number of pages: 36 Posted: 07 Oct 1999
Charles M. Jones and Marc L. Lipson
Columbia Business School and University of Virginia - Darden School of Business
Downloads 365 (79,966)
Citation 11

Abstract:

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14.

The Development of Secondary Market Liquidity for Nyse-Listed Ipos

Number of pages: 45 Posted: 23 Feb 2002
Shane A. Corwin, Jeffrey H. Harris and Marc L. Lipson
University of Notre Dame - Mendoza College of Business, American University - Department of Finance and Real Estate and University of Virginia - Darden School of Business
Downloads 306 (97,479)
Citation 15

Abstract:

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IPO, secondary market, liquidity, limit orders, stabilization

15.

Portfolio Selection and the Capital Asset Pricing Model

Darden Case No. UVA-F-1604
Number of pages: 6 Posted: 05 Apr 2010 Last Revised: 08 Sep 2017
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 288 (104,149)
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Abstract:

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portfolio, returns, volatility, CAPM, investments

16.

Crocs, Inc

Darden Case No. UVA-F-1589
Number of pages: 14 Posted: 05 Apr 2010 Last Revised: 09 Apr 2018
Marc L. Lipson and Gaurav Gupta
University of Virginia - Darden School of Business and Lovely Professional University
Downloads 278 (108,111)
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value, margins, growth analysis, stock assumptions

17.
Downloads 268 (112,383)
Citation 22

Execution Costs of Institutional Equity Orders

Paine Webber Working Paper No. 99-01
Number of pages: 28 Posted: 07 Oct 1999
Charles M. Jones and Marc L. Lipson
Columbia Business School and University of Virginia - Darden School of Business
Downloads 268 (111,841)
Citation 22

Abstract:

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Execution Costs of Institutional Equity Orders

Journal of Financial Intermediation, Vol. 8, Iss. 3, July 1999
Posted: 01 Nov 1999
Charles M. Jones and Marc L. Lipson
Columbia Business School and University of Virginia - Darden School of Business

Abstract:

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18.

Panera Bread Company

Darden Case No. UVA-F-1575
Number of pages: 7 Posted: 14 Jun 2009 Last Revised: 09 Oct 2018
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 233 (129,708)
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Abstract:

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balance sheet, forecast, external markets, equity, permanent debt financing

19.

Sixteenths: Direct Evidence on Institutional Execution Costs

Paine Webber Working Paper No. 99-03
Number of pages: 35 Posted: 07 Oct 1999
Charles M. Jones and Marc L. Lipson
Columbia Business School and University of Virginia - Darden School of Business
Downloads 229 (131,854)
Citation 70

Abstract:

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20.

Alliance Concrete

Darden Case No. UVA-F-1527
Number of pages: 7 Posted: 21 Oct 2008
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 218 (138,318)
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debt policy, forecasting, growth management

21.

Competition Among Market Centers

AFA 2004 San Diego Meetings
Number of pages: 48 Posted: 08 Dec 2003
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 200 (149,981)
Citation 13

Abstract:

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22.

Can Financial Markets Inform Operational Improvement Efforts? Evidence from the Airline Industry

MSOM, Forthcoming
Number of pages: 37 Posted: 05 Mar 2011 Last Revised: 23 May 2013
London Business School - Department of Management Science and Operations, University of North Carolina (UNC) at Chapel Hill - Department of Economics and University of Virginia - Darden School of Business
Downloads 199 (150,666)
Citation 3

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Operations Management, Abnormal Returns, Airline Industry

23.

Order Characteristics and the Sources of Commonality in Prices and Liquidity

Journal of Financial Markets, Forthcoming
Number of pages: 57 Posted: 22 Jul 2008 Last Revised: 31 Mar 2011
Shane A. Corwin and Marc L. Lipson
University of Notre Dame - Mendoza College of Business and University of Virginia - Darden School of Business
Downloads 154 (189,021)
Citation 13

Abstract:

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Commonality, Order Flow, Liquidity, Program Trading

24.

Kelly Solar

Darden Case No. UVA-F-1614
Number of pages: 3 Posted: 07 Apr 2010
University of Virginia - Darden School of Business, University of Virginia - Darden School of Business and University of Virginia - Darden School of Business
Downloads 115 (237,737)
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debt, agency cost, bargaining, renegotiation, entrepreneur, financial claims, debt financing, debt overhang

25.

Economic Exposure

Darden Case No. UVA-F-1603
Number of pages: 11 Posted: 05 Apr 2010
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 109 (246,949)
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Abstract:

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currency exchange rate change hedge hedging exposure operating transaction

26.

Parity Conditions in International Markets

Darden Case No. UVA-F-1572
Number of pages: 17 Posted: 05 Apr 2010
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 105 (253,536)
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parity conditions, international finance, exchange rates, inflation

27.

Alliance Concrete: Just One More Thing

Darden Case No. UVA-F-1535
Number of pages: 5 Posted: 21 Oct 2008
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 103 (256,886)
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Abstract:

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valuation, subsidiary, cost of capital, free cash flow, forecast, sensitivity

28.

Pittinos Financial Advisers, Llc

Darden Case No. UVA-F-1599
Number of pages: 10 Posted: 05 Apr 2010
Marc L. Lipson and Richard B. Evans
University of Virginia - Darden School of Business and University of Virginia - Darden School of Business
Downloads 90 (280,467)
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Abstract:

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financial adviser strategy forecasting

29.

Hedged Cost of Funds and Interest Rate Arbitrage

Darden Case No. UVA-F-1565
Number of pages: 13 Posted: 14 Jun 2009 Last Revised: 01 Dec 2017
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 57 (361,434)
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Abstract:

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international, hedged borrowing, interest rate arbitrage

30.

H. J. Heinz: Estimating the Cost of Capital in Uncertain Times

Darden Case No. UVA-F-1634
Number of pages: 8 Posted: 30 May 2017
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 19 (521,336)
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Cost of Capital, WACC, Discount Rate, Cost of Debt

31.

Milagrol Ltda

Darden Case No. UVA-F-1578
Number of pages: 10 Posted: 14 Jun 2009
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 16 (538,607)
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Abstract:

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international valuation acquisition forecast

32.

Carded Graphics, Llc: Sheeter Replacement Decision

Darden Case No. UVA-F-1606
Number of pages: 14 Posted: 30 May 2017
Marc L. Lipson and Irene Mastelli
University of Virginia - Darden School of Business and University of Virginia - Darden School of Business
Downloads 3 (621,476)
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Abstract:

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Capital Budgeting, Operations, WACC, Folding Carton

33.

Vale Sa

Darden Case No. UVA-F-1633
Number of pages: 11 Posted: 30 May 2017
Marc L. Lipson and Vahid Gholampour
University of Virginia - Darden School of Business and Bucknell University
Downloads 3 (621,476)
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hedged cost of funds, foreign bonds, Brazil, financing, corporate borrowing rates, market conditions

34.

Panera Bread Company (Spanish)

Darden Case No. UVA-F-1827
Number of pages: 8 Posted: 16 Jan 2018
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 1 (644,032)
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balance sheet, forecast, external markets, equity, permanent debt financing

35.

Geo Tech

Darden Case No. UVA-F-1650
Number of pages: 6 Posted: 30 May 2017
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 1 (644,032)
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capital budgeting, foreign currency, exchange rate, revenue, costs

36.

Medfield Pharmaceuticals

Darden Case No. UVA-F-1636
Number of pages: 13 Posted: 30 May 2017
Marc L. Lipson, Jenny Mead and Jared D. Harris
University of Virginia - Darden School of Business, University of Virginia - Darden School of Business and University of Virginia - Darden School of Business
Downloads 1 (644,032)
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finance, pharmaceutical, ethical issues, patent life, financial objectives, valuation, drug reformulation, ethics, cash flow, financial analysis

37.

Danaher Corporation: The Hach Sl1000 Portable Parallel Water Analyzer

Darden Case No. UVA-S-0261
Number of pages: 15 Posted: 02 Jun 2017
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 0 (662,094)
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laboratory solutions, water quality, product development, stakeholder value, enterprise perspective, marketing, market penetration, best practices, competition, pricing, lean, growth, leadership

38.

Central Express Trucking

Darden Case No. UVA-F-1768
Number of pages: 11 Posted: 30 May 2017 Last Revised: 17 Aug 2018
Marc L. Lipson and Steve Munoz
University of Virginia - Darden School of Business and affiliation not provided to SSRN
Downloads 0 (662,094)
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fuel prices, trucking, fuel price fluctuations

39.

Hightrek Inc

Darden Case No. UVA-F-1748
Number of pages: 2 Posted: 30 May 2017 Last Revised: 19 Jul 2019
Marc L. Lipson
University of Virginia - Darden School of Business
Downloads 0 (662,094)
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cash flows, investment, expansion analysis, production costs

40.

Monsanto Company

Darden Case No. UVA-F-1597
Number of pages: 9 Posted: 30 May 2017
Marc L. Lipson and Rick Green
University of Virginia - Darden School of Business and University of Virginia - Darden School of Business
Downloads 0 (662,094)
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forecast, financial statements

41.

Transactions, Volume and Volatility

REVIEW OF FINANCIAL STUDIES, Vol 7 No 4, 1994
Posted: 03 May 2000
Charles M. Jones, Gautam Kaul and Marc L. Lipson
Columbia Business School, University of Michigan, Stephen M. Ross School of Business and University of Virginia - Darden School of Business

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42.

Why Do Public Companies Begin Paying Dividends?

Posted: 25 Sep 1999
University of Chile - Diagonal Paraguay, University of Virginia - Darden School of Business and University of Oklahoma

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43.

Dividend Initiations and Earnings Surprises

Financial Management, Vol. 27, No. 3, Autumn 1998, Special Issue: Dividends
Posted: 03 Feb 1999
University of Virginia - Darden School of Business, University of Chile - Diagonal Paraguay and University of Oklahoma

Abstract:

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44.

Continuations, Reversals, and Adverse Selection on the NASDAQ and Nyse/Amex

Posted: 03 Nov 1998
Charles M. Jones and Marc L. Lipson
Columbia Business School and University of Virginia - Darden School of Business

Abstract:

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Other Papers (1)

Total Downloads: 52
1.

Monitoring by Institutional Investors: Evidence from Ownership Changes and Trading Behavior Around Restatements

Number of pages: 34 Posted: 26 Mar 2005
Natasha Burns, Simi Kedia and Marc L. Lipson
University of Texas at San Antonio - Department of Finance, Rutgers Business School and University of Virginia - Darden School of Business
Downloads 52

Abstract:

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Large Shareholder monitoring, accounting restatements