Eugene Kandel

Hebrew University of Jerusalem - Department of Economics

Associate Professor

School of Business

Mount Scopus

Jerusalem 91905

Israel

Centre for Economic Policy Research (CEPR)

77 Bastwick Street

London, EC1V 3PZ

United Kingdom

SCHOLARLY PAPERS

33

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8,719

CITATIONS
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298

Scholarly Papers (33)

1.

Liquidity Beyond the Inside Spread: Measuring and Using Information in the Limit Order Book

Number of pages: 36 Posted: 17 Aug 2000
Paul J. Irvine, George J. Benston and Eugene Kandel
Neeley School of Business, Emory University - Department of Accounting and Hebrew University of Jerusalem - Department of Economics
Downloads 1,631 (9,033)
Citation 35

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Mutual Fund Performance Evaluation with Active Peer Benchmarks

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 54 Posted: 19 Feb 2009 Last Revised: 13 Aug 2013
University of Queensland, Hebrew University of Jerusalem - Department of Economics, Deceased and University of Maryland - Robert H. Smith School of Business
Downloads 989 (19,506)
Citation 5

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Endogenous Benchmarks

AFA 2010 Atlanta Meetings Paper
Number of pages: 45 Posted: 21 Mar 2009
University of Queensland, Hebrew University of Jerusalem - Department of Economics, University of Maryland - Robert H. Smith School of Business and Deceased
Downloads 214 (129,997)
Citation 5

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3.
Downloads 1,015 ( 18,991)
Citation 15

Liquidity Cycles and Make/Take Fees in Electronic Markets

Journal of Finance, Fforthcoming, EFA 2009 Bergen Meetings Paper
Number of pages: 71 Posted: 16 Feb 2009 Last Revised: 15 Mar 2013
Thierry Foucault, Ohad Kadan and Eugene Kandel
HEC Paris - Finance Department, Washington University in St. Louis - John M. Olin Business School and Hebrew University of Jerusalem - Department of Economics
Downloads 1,012 (18,741)
Citation 15

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Make/Take Fees, Duration Clustering, Liquidity Externalities, Algorithmic trading, Two-Sided Markets

Liquidity Cycles and Make/Take Fees in Electronic Markets

CEPR Discussion Paper No. DP7551
Number of pages: 50 Posted: 11 Jan 2010
Thierry Foucault, Ohad Kadan and Eugene Kandel
HEC Paris - Finance Department, Washington University in St. Louis - John M. Olin Business School and Hebrew University of Jerusalem - Department of Economics
Downloads 3 (601,448)
Citation 15
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algorithmic trading, duration clustering, Liquidity, make/take fees, monitoring, two-sided markets

4.
Downloads 829 ( 25,676)
Citation 101

Limit Order Book as a Market for Liquidity

Number of pages: 60 Posted: 30 May 2001
Thierry Foucault, Ohad Kadan and Eugene Kandel
HEC Paris - Finance Department, Washington University in St. Louis - John M. Olin Business School and Hebrew University of Jerusalem - Department of Economics
Downloads 806 (26,312)
Citation 101

Abstract:

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Limit Orders, Market Orders, Liquidity, Order-Driven Markets, Tick Size, Impatience, Traders Arrival Rate, Price Improvement

Limit Order Book as a Market for Liquidity

CEPR Discussion Paper No. 2889
Number of pages: 67 Posted: 11 Sep 2001
Thierry Foucault, Ohad Kadan and Eugene Kandel
HEC Paris - Finance Department, Washington University in St. Louis - John M. Olin Business School and Hebrew University of Jerusalem - Department of Economics
Downloads 23 (480,439)
Citation 101
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Limit order markets, market orders, liquidity

Limit Order Book as a Market for Liquidity

The Review of Financial Studies, Vol. 18, Issue 4, pp. 1171-1217, 2005
Posted: 29 Feb 2008
Thierry Foucault, Ohad Kadan and Eugene Kandel
HEC Paris - Finance Department, Washington University in St. Louis - John M. Olin Business School and Hebrew University of Jerusalem - Department of Economics

Abstract:

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brain metastases, HRQoL, stereotactic radiosurgery

Brokerage Commissions and Institutional Trading Patterns

Number of pages: 46 Posted: 12 Apr 2004 Last Revised: 04 Aug 2008
Neeley School of Business, Babson College - Finance Division, Hebrew University of Jerusalem - Department of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 717 (30,813)
Citation 44

Abstract:

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Commissions, Brokers, Institutional Trading, bunching

Brokerage Commissions and Institutional Trading Patterns

The Review of Financial Studies, Vol. 22, Issue 12, pp. 5175-5212, 2009
Posted: 24 Nov 2009
Babson College - Finance Division, Neeley School of Business, Hebrew University of Jerusalem - Department of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration

Abstract:

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G23, G24

Shareholder Diversification and the Decision to Go Public

EFA 2005 Moscow Meetings Paper
Number of pages: 47 Posted: 04 Dec 2004
University of Illinois at Chicago, INSEAD - Finance, Hebrew University of Jerusalem - Department of Economics and Michigan State University - Eli Broad Graduate School of Management
Downloads 572 (41,747)
Citation 11

Abstract:

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IPO, diversification, underpricing

Shareholder Diversification and the Decision to Go Public

Review of Financial Studies, 2007
Posted: 07 Dec 2006
INSEAD - Finance, University of Illinois at Chicago, Hebrew University of Jerusalem - Department of Economics and Michigan State University - Eli Broad Graduate School of Management

Abstract:

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IPO, diversification, underpricing

Shareholder Diversification and the Decision to Go Public

The Review of Financial Studies, Vol. 21, Issue 6, pp. 2779-2824, 2008
Posted: 15 Dec 2008
University of Illinois at Chicago, Hebrew University of Jerusalem - Department of Economics, INSEAD - Finance and Michigan State University - Eli Broad Graduate School of Management

Abstract:

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G120, G140, G240, G320

7.

Dividend Stickiness and Strategic Pooling

Review of Financial Studies, Vol. 23, 2010
Number of pages: 59 Posted: 13 Sep 2007 Last Revised: 26 Oct 2011
Ilan Guttman, Ohad Kadan and Eugene Kandel
New York University (NYU) - Leonard N. Stern School of Business, Washington University in St. Louis - John M. Olin Business School and Hebrew University of Jerusalem - Department of Economics
Downloads 542 (45,324)
Citation 7

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8.

The Effect of a Closing Call Auction on Market Quality and Trading Strategies

Number of pages: 45 Posted: 28 May 2008 Last Revised: 07 Aug 2010
Eugene Kandel, Barbara Rindi and Luisella Bosetti
Hebrew University of Jerusalem - Department of Economics, Bocconi University and IGIER and Baffi Carefin and Borsa Italiana S.p.A.
Downloads 396 (66,907)
Citation 5

Abstract:

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market structure, market quality, closing mechanism

9.

A Rational Expectations Theory of Kinks in Financial Reporting

Accounting Review, Volume 81, 2006
Number of pages: 45 Posted: 08 Jun 2006 Last Revised: 29 Dec 2009
Ilan Guttman, Ohad Kadan and Eugene Kandel
New York University (NYU) - Leonard N. Stern School of Business, Washington University in St. Louis - John M. Olin Business School and Hebrew University of Jerusalem - Department of Economics
Downloads 340 (79,915)
Citation 23

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Earnings management, financial reporting, discontinuities

10.
Downloads 311 ( 88,389)
Citation 20

Stock-Based Compensation and CEO (Dis)Incentives

Number of pages: 53 Posted: 27 Mar 2008
Efraim Benmelech, Eugene Kandel and Pietro Veronesi
Northwestern University - Kellogg School of Management, Hebrew University of Jerusalem - Department of Economics and University of Chicago - Booth School of Business
Downloads 263 (105,396)
Citation 20

Abstract:

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executive compensation, corporate governance

Stock-Based Compensation and CEO (Dis)Incentives

NBER Working Paper No. w13732
Number of pages: 54 Posted: 11 Jan 2008 Last Revised: 29 Oct 2014
Efraim Benmelech, Pietro Veronesi and Eugene Kandel
Northwestern University - Kellogg School of Management, University of Chicago - Booth School of Business and Hebrew University of Jerusalem - Department of Economics
Downloads 43 (388,035)
Citation 20

Abstract:

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Stock-Based Compensation and CEO (Dis)Incentives

CEPR Discussion Paper No. DP6515
Number of pages: 52 Posted: 05 Jun 2008
Efraim Benmelech, Eugene Kandel and Pietro Veronesi
Northwestern University - Kellogg School of Management, Hebrew University of Jerusalem - Department of Economics and University of Chicago - Booth School of Business
Downloads 5 (588,481)
Citation 20
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CEO compensation, Sub-optimal investments

11.

VC Funds: Aging Brings Myopia

EFA 2006 Zurich Meetings Paper
Number of pages: 55 Posted: 02 Jun 2006
Eugene Kandel, Dima Leshchinskii and Harry Yuklea
Hebrew University of Jerusalem - Department of Economics, Menlo College and The Technion, IE&M Faculty
Downloads 243 (114,935)
Citation 15

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Venture Capital, investment decision, agency problems

12.

The Great Pyramids of America: A Revised History of US Business Groups, Corporate Ownership and Regulation, 1930-1950

NBER Working Paper No. w19691, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 449/2015
Number of pages: 64 Posted: 15 Apr 2015
Hebrew University of Jerusalem - Department of Economics, Bank of Israel, University of Alberta - Department of Finance and Statistical Analysis and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 193 (144,340)

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Corporate Groups; Corporate Ownership; US Financial History; New Deal

Incentive Fees and Competition in Pension Funds: Evidence from a Regulatory Experiment

Journal of Law, Finance & Accounting, Vol. 2, No. 1, 2017
Number of pages: 38 Posted: 22 Sep 2015 Last Revised: 30 Sep 2017
Tel Aviv University Faculty of Law, Hebrew University of Jerusalem - Department of Economics, Bar Ilan University and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 192 (144,233)

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Institutional Investors, Pension Funds, Incentive Fees, Defined Contribution

Incentive Fees and Competition in Pension Funds: Evidence from a Regulatory Experiment in Israel

CEPR Discussion Paper No. DP10911
Number of pages: 40 Posted: 04 Nov 2015
Tel Aviv University Faculty of Law, Hebrew University of Jerusalem - Department of Economics, Bar Ilan University and Hebrew University of Jerusalem - Jerusalem School of Business Administration
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Competition, Incentives, Pension Funds, Retirement Savings

14.

Avoiding Soes Bandits

Number of pages: 17 Posted: 27 Nov 1997
Leslie M. Marx and Eugene Kandel
Duke University - Fuqua School of Business, Economics Group and Hebrew University of Jerusalem - Department of Economics
Downloads 133 (197,692)

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15.

Do Small Shareholders Count?

Number of pages: 48 Posted: 15 Jun 2010
Eugene Kandel, Massimo Massa and Andrei Simonov
Hebrew University of Jerusalem - Department of Economics, INSEAD - Finance and Michigan State University - Eli Broad Graduate School of Management
Downloads 130 (201,288)
Citation 1

Abstract:

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shareholder heterogeneity, firm value, corporate finance, and managerial decision making

16.

Incentive Fees and Competition in Pension Funds: Evidence from a Regulatory Experiment

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 459/2016
Number of pages: 49 Posted: 17 Feb 2016
Tel Aviv University Faculty of Law, Hebrew University of Jerusalem - Department of Economics, Bar Ilan University and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 101 (242,149)

Abstract:

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competition, incentives, pension funds, retirement savings

17.
Downloads 51 (354,862)
Citation 3

Between Search and Walras

Number of pages: 33 Posted: 21 Nov 2000
Eugene Kandel and Avi Simhon
Hebrew University of Jerusalem - Department of Economics and Hebrew University of Jerusalem
Downloads 51 (360,666)
Citation 3

Abstract:

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Between Search and Walras

Journal of Labor Economics, January 2002
Posted: 21 Nov 2000
Eugene Kandel and Avi Simhon
Hebrew University of Jerusalem - Department of Economics and Hebrew University of Jerusalem

Abstract:

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18.

Shareholder Diversification and Ipos

CEPR Discussion Paper No. 4820
Number of pages: 43 Posted: 13 Apr 2005
University of Illinois at Chicago, INSEAD - Finance, Hebrew University of Jerusalem - Department of Economics and Michigan State University - Eli Broad Graduate School of Management
Downloads 31 (426,823)
Citation 2
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IPO, diversification, underpricing

19.

The Impact of a Closing Call Auction on Market Quality and Trading Strategies

Number of pages: 38 Posted: 02 Mar 2007
Eugene Kandel, Barbara Rindi and Luisella Bosetti
Hebrew University of Jerusalem - Department of Economics, Bocconi University and IGIER and Baffi Carefin and Borsa Italiana S.p.A.
Downloads 26 (455,321)
Citation 6

Abstract:

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market structure, market quality, closing mechanism

20.

A Rational Expectations Theory of the Kink in Earnings Reports

CEPR Discussion Paper No. 4613
Number of pages: 42 Posted: 01 Nov 2004
Ilan Guttman, Ohad Kadan and Eugene Kandel
New York University (NYU) - Leonard N. Stern School of Business, Washington University in St. Louis - John M. Olin Business School and Hebrew University of Jerusalem - Department of Economics
Downloads 24 (460,592)
Citation 5
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Managerial compensation, stock-based compensation, earnings reports, earnings management, analysts forecasts

The Great Pyramids of America: A Revised History of Us Business Groups, Corporate Ownership and Regulation, 1930-1950

NBER Working Paper No. w19691
Number of pages: 59 Posted: 10 Dec 2013
Hebrew University of Jerusalem - Department of Economics, Bank of Israel, University of Alberta - Department of Finance and Statistical Analysis and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 20 (498,515)

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Business Groups in the United States: A Revised History of Corporate Ownership, Pyramids and Regulation, 1930-1950

CEPR Discussion Paper No. DP9759
Number of pages: 62 Posted: 25 Nov 2013
Hebrew University of Jerusalem - Department of Economics, Bank of Israel, University of Alberta - Department of Finance and Statistical Analysis and Hebrew University of Jerusalem - Jerusalem School of Business Administration
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Business Groups, Corporate Ownership, Financial Market Regulation, Pyramids

22.

The Cost of Liquidity: Results from a Natural Experiment

Number of pages: 26 Posted: 14 Oct 2009
Eugene Kandel and Isabel Tkatch
Hebrew University of Jerusalem - Department of Economics and Georgia State University - J. Mack Robinson College of Business
Downloads 10 (536,420)

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Inventory, Liquidity, Limit order book, ETF

23.

Incentive Fees and Competition in Pension Funds: Evidence from a Regulatory Experiment

NBER Working Paper No. w22634
Number of pages: 48 Posted: 20 Sep 2016
Tel Aviv University Faculty of Law, Hebrew University of Jerusalem - Department of Economics, Bar Ilan University and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 9 (541,672)
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24.

In Search of Reasonable Executive Compensation

CESifo Economic Studies, Vol. 55, Issue 3-4, pp. 405-433, 2009
Posted: 08 Dec 2009
Eugene Kandel
Hebrew University of Jerusalem - Department of Economics

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managerial compensation, pay for performance, multitasking

25.

The Value of Flexibility in the Labor Market

Bradley Policy Research Center Working Paper, FR-95-04
Posted: 10 Oct 1998
Eugene Kandel and Neil D. Pearson
Hebrew University of Jerusalem - Department of Economics and University of Illinois at Urbana-Champaign - Department of Finance

Abstract:

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26.

NASDAQ Market Structure and Spreads Patterns

Posted: 25 Jul 1998
Eugene Kandel and Leslie M. Marx
Hebrew University of Jerusalem - Department of Economics and Duke University - Fuqua School of Business, Economics Group

Abstract:

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27.

The Effects of Transaction Costs on Stock Prices and Trading Volume

Journal of Financial Intermediation, Vol. 7, No. 2
Posted: 16 Jul 1998
Michael J. Barclay, Eugene Kandel and Leslie M. Marx
University of Rochester - Simon School (Deceased), Hebrew University of Jerusalem - Department of Economics and Duke University - Fuqua School of Business, Economics Group

Abstract:

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28.

Differential Interpretation of Information and Trade in Speculative Markets

JOURNAL OF POLITICAL ECONOMY, 1995
Posted: 14 May 1998
Eugene Kandel and Neil D. Pearson
Hebrew University of Jerusalem - Department of Economics and University of Illinois at Urbana-Champaign - Department of Finance

Abstract:

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29.

Transaction Costs and Liquidity: An Empirical Investigation

Posted: 11 Feb 1998
Michael J. Barclay, Leslie M. Marx and Eugene Kandel
University of Rochester - Simon School (Deceased), Duke University - Fuqua School of Business, Economics Group and Hebrew University of Jerusalem - Department of Economics

Abstract:

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30.

The Costs of Trading NASDAQ Issues: The Impact of Limit Orders and Ecn Quotes

Posted: 10 Feb 1998
University of Rochester - Simon School (Deceased), Vanderbilt University - Finance, American University - Department of Finance and Real Estate, Hebrew University of Jerusalem - Department of Economics and University of Notre Dame - Department of Finance

Abstract:

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31.

Brokerage Commissions and Information Allocation

Posted: 11 Mar 1997
Paul J. Irvine, Eugene Kandel and Zvi Wiener
Neeley School of Business, Hebrew University of Jerusalem - Department of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration

Abstract:

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32.

Payments for Order Flow on NASDAQ

Posted: 10 Feb 1997
Eugene Kandel and Leslie M. Marx
Hebrew University of Jerusalem - Department of Economics and Duke University - Fuqua School of Business, Economics Group

Abstract:

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33.

A Dynamic Model of the Value of Labor Force Flexibility

Simon School of Business Working Paper FR 95-04
Posted: 15 May 1996
Eugene Kandel and Neil D. Pearson
Hebrew University of Jerusalem - Department of Economics and University of Illinois at Urbana-Champaign - Department of Finance

Abstract:

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Other Papers (1)

Total Downloads: 58    Citations: 11
1.

Shareholder Diversification and the Decision to Go Public

Number of pages: 47 Posted: 22 Mar 2005
University of Illinois at Chicago, INSEAD - Finance, Hebrew University of Jerusalem - Department of Economics and Michigan State University - Eli Broad Graduate School of Management
Downloads 58
Citation 11

Abstract:

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IPO, diversification, underpricing