David K. Musto

University of Pennsylvania - Finance Department

Professor

The Wharton School

3620 Locust Walk

Philadelphia, PA 19104

United States

SCHOLARLY PAPERS

30

DOWNLOADS
Rank 2,641

SSRN RANKINGS

Top 2,641

in Total Papers Downloads

11,407

CITATIONS
Rank 1,706

SSRN RANKINGS

Top 1,706

in Total Papers Citations

328

Scholarly Papers (30)

1.
Downloads 1,871 ( 2,877)
Citation 57

Mutual Fund Survivorship

Number of pages: 67 Posted: 19 Oct 2000
Kepos Capital LP, New York University (NYU) - Department of Finance, New York University (NYU) - Department of Finance and University of Pennsylvania - Finance Department
Downloads 1,646 (7,908)
Citation 57

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Mutual Fund Survivorship

NYU Working Paper No. S-AM-00-08
Number of pages: 67 Posted: 13 Nov 2008
Kepos Capital LP, New York University (NYU) - Department of Finance, New York University (NYU) - Department of Finance and University of Pennsylvania - Finance Department
Downloads 154 (163,855)
Citation 57

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Mutual Fund Survivorship

NYU Working Paper No. FIN-00-038
Number of pages: 67 Posted: 04 Nov 2008
Kepos Capital LP, New York University (NYU) - Department of Finance, New York University (NYU) - Department of Finance and University of Pennsylvania - Finance Department
Downloads 71 (284,958)
Citation 57

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2.

Vote Trading and Information Aggregation

AFA 2006 Boston Meetings Paper, Sixteenth Annual Utah Winter Finance Conference, ECGI - Finance Working Paper No. 141/2007
Number of pages: 57 Posted: 20 Mar 2005
University of Toronto - Rotman School of Management, University of Pennsylvania - The Wharton School, Finance Department, University of North Carolina Kenan-Flagler Business School and University of Pennsylvania - Finance Department
Downloads 1,227 (11,886)
Citation 37

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information aggregation, voting rights, equity lending, vote trading

3.

What do Consumers’ Fund Flows Maximize? Evidence from Their Brokers’ Incentives

Journal of Finance, Forthcoming, Darden Business School Working Paper No. 1393289
Number of pages: 60 Posted: 22 Apr 2009 Last Revised: 16 Mar 2012
University of Toronto - Rotman School of Management, University of Virginia - Darden School of Business and University of Pennsylvania - Finance Department
Downloads 899 (17,191)
Citation 8

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Brokers, mutual funds, compensation, revenue-sharing

4.

Predatory Lending in a Rational World

FRB Philadelphia Working Paper No. 06-2
Number of pages: 42 Posted: 16 Jan 2006
Philip Bond, David K. Musto and Bilge Yilmaz
University of Washington - Michael G. Foster School of Business, University of Pennsylvania - Finance Department and University of Pennsylvania - Finance Department
Downloads 832 (19,895)
Citation 6

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Predatory lending, Consumer credit

5.
Downloads 765 ( 26,359)
Citation 94

How Investors Interpret Past Fund Returns

Number of pages: 51 Posted: 28 Mar 2000
Anthony W. Lynch and David K. Musto
New York University (NYU) - Department of Finance and University of Pennsylvania - Finance Department
Downloads 765 (25,935)
Citation 94

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How Investors Interpret Past Fund Returns

Journal of Finance, Vol. 58, pp. 2033-2058, October 2003
Posted: 13 Oct 2003
Anthony W. Lynch and David K. Musto
New York University (NYU) - Department of Finance and University of Pennsylvania - Finance Department

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Failure is an Option: Impediments to Short Selling and Options Prices

EFA 2003 Glasgow
Number of pages: 46 Posted: 01 Aug 2003
University of Virginia - Darden School of Business, University of North Carolina Kenan-Flagler Business School, University of Pennsylvania - The Wharton School, Finance Department and University of Pennsylvania - Finance Department
Downloads 759 (26,209)
Citation 36

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Failure is an Option: Impediments to Short Selling and Options Prices

The Review of Financial Studies, Vol. 22, No. 5, pp. 1955-1980, 2009
Posted: 13 Apr 2009
University of Virginia - Darden School of Business, University of Pennsylvania - The Wharton School, Finance Department, University of Pennsylvania - Finance Department and University of North Carolina Kenan-Flagler Business School

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G12, G13, G29

7.
Downloads 504 ( 45,944)
Citation 11

A Portfolio View of Consumer Credit

FRB of Philadelphia Working Paper No. 05-25
Number of pages: 42 Posted: 28 Oct 2005 Last Revised: 11 Dec 2011
David K. Musto and Nicholas S. Souleles
University of Pennsylvania - Finance Department and University of Pennsylvania - Finance Department
Downloads 475 (48,910)
Citation 11

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credit supply, consumer credit; default risk, credit scores, loan portfolio analysis

A Portfolio View of Consumer Credit

NBER Working Paper No. w11735
Number of pages: 43 Posted: 27 Jan 2006 Last Revised: 27 Jul 2010
David K. Musto and Nicholas S. Souleles
University of Pennsylvania - Finance Department and University of Pennsylvania - Finance Department
Downloads 29 (421,305)
Citation 11

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8.

The Market for Record-Date Ownership

EFA 2002 Berlin Meetings Presented Paper
Number of pages: 37 Posted: 20 Mar 2002
University of Toronto - Rotman School of Management, University of North Carolina Kenan-Flagler Business School, University of Pennsylvania - The Wharton School, Finance Department and University of Pennsylvania - Finance Department
Downloads 453 (49,309)

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Equity Lending, Shareholder Proposals, Dividend Arbitrage

9.

The Economics of Mutual-Fund Brokerage: Evidence from the Cross Section of Investment Channels

AFA 2006 Boston Meetings Paper
Number of pages: 37 Posted: 23 Mar 2005 Last Revised: 11 Dec 2011
University of Toronto - Rotman School of Management, University of Virginia - Darden School of Business and University of Pennsylvania - Finance Department
Downloads 435 (48,687)
Citation 9

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Mutual Fund, Financial Intermediary, Brokers

10.

Valuable Information and Costly Liquidity: Evidence from Individual Mutual Fund Trades

Number of pages: 36 Posted: 05 Feb 2007
University of Toronto - Rotman School of Management, University of Pennsylvania - Wharton School and University of Pennsylvania - Finance Department
Downloads 377 (54,611)
Citation 17

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mutual funds, trading, trading costs

11.

Predatory Mortgage Lending

FRB of Philadelphia Working Paper No. 08-24
Number of pages: 39 Posted: 23 Oct 2008
Philip Bond, David K. Musto and Bilge Yilmaz
University of Washington - Michael G. Foster School of Business, University of Pennsylvania - Finance Department and University of Pennsylvania - Finance Department
Downloads 322 (61,552)
Citation 5

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12.

Understanding Fee Structures in the Asset Management Business

NYU Working Paper No. FIN-98-050
Number of pages: 49 Posted: 11 Nov 2008
Anthony W. Lynch and David K. Musto
New York University (NYU) - Department of Finance and University of Pennsylvania - Finance Department
Downloads 301 (75,021)
Citation 5

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13.

The Limits to Dividend Arbitrage: Implications for Cross Border Investment

Rodney L. White Center for Financial Research Working Paper No. 08-03
Number of pages: 30 Posted: 25 Jun 2003
University of Toronto - Rotman School of Management, University of North Carolina Kenan-Flagler Business School, University of Pennsylvania - The Wharton School, Finance Department and University of Pennsylvania - Finance Department
Downloads 290 (83,967)
Citation 1

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14.

The Reacquisition of Credit Following Chapter 7 Personal Bankruptcy

Wharton Financial Institutions Center Working Paper No. 99-22
Number of pages: 35 Posted: 07 Dec 1999
David K. Musto
University of Pennsylvania - Finance Department
Downloads 176 (137,915)
Citation 3

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15.

High Water Marks in Competitive Capital Markets

EFA 2009 Bergen Meetings Paper
Number of pages: 46 Posted: 17 Dec 2008 Last Revised: 24 Feb 2013
University of Toronto - Rotman School of Management, University of Pennsylvania - Finance Department and University of Pennsylvania - Finance Department
Downloads 173 (127,741)
Citation 1

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Hedge funds, High water marks, Efficient contracts, Adverse Selection, Moral Hazard, Learning, Competitive Capital

16.

Institutional Investing When Shareholders Are Not Supreme

Harvard Business Law Review, Vol. 5, 2015, Georgia State University College of Law, Legal Studies Research Paper No. 2015-08
Number of pages: 69 Posted: 26 Mar 2015 Last Revised: 26 May 2015
University of Pennsylvania - The Wharton School, Finance Department, University of Chicago - Booth School of Business, University of Pennsylvania - Finance Department and Georgia State University College of Law
Downloads 153 (83,659)

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institutional investing, institutional investors, high fiduciary duty institution, fiduciary duty, corporate law, constituency statutes, empirical legal research, boards of directors, director duties, alternative purpose firms, benefit corporations

17.
Downloads 143 (174,061)
Citation 9

Trading and Voting

Rodney L. White Fin. Research Working Paper No. 22-00
Number of pages: 15 Posted: 12 Mar 2001
David K. Musto and Bilge Yilmaz
University of Pennsylvania - Finance Department and University of Pennsylvania - Finance Department
Downloads 143 (174,484)
Citation 9

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Trading and Voting

Journal of Political Economy, Vol. 111, October 2003
Posted: 10 Sep 2003
David K. Musto and Bilge Yilmaz
University of Pennsylvania - Finance Department and University of Pennsylvania - Finance Department

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18.
Downloads 56 (318,736)
Citation 5

Delegated Monitoring of Fund Managers

NYU Working Paper No. SC-AM-02-01
Number of pages: 30 Posted: 13 Nov 2008
Simon Gervais, Anthony W. Lynch and David K. Musto
Duke University - Fuqua School of Business, New York University (NYU) - Department of Finance and University of Pennsylvania - Finance Department
Downloads 37 (386,722)
Citation 5

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Delegated Monitoring of Fund Managers

NYU Working Paper No. FIN-02-004
Number of pages: 30 Posted: 03 Nov 2008
Simon Gervais, Anthony W. Lynch and David K. Musto
Duke University - Fuqua School of Business, New York University (NYU) - Department of Finance and University of Pennsylvania - Finance Department
Downloads 19 (476,787)
Citation 5

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19.

Does Junior Inherit? Refinancing and the Blocking Power of Second Mortgages

FRB of Philadelphia Working Paper No. 13-3
Number of pages: 42 Posted: 26 Dec 2012
Philip Bond, Ronel Elul, Sharon Garyn-Tal and David K. Musto
University of Washington - Michael G. Foster School of Business, Federal Reserve Bank of Philadelphia, Max Stern Academic College of Emek Yezreel and University of Pennsylvania - Finance Department
Downloads 44 (303,078)
Citation 2

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Refinance, Mortgage

20.
Downloads 43 (357,712)
Citation 20

Fund Families as Delegated Monitors of Money Managers

NYU Working Paper No. SC-AM-03-14
Number of pages: 38 Posted: 04 Nov 2008
Simon Gervais, Anthony W. Lynch and David K. Musto
Duke University - Fuqua School of Business, New York University (NYU) - Department of Finance and University of Pennsylvania - Finance Department
Downloads 43 (364,465)
Citation 20

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21.

Notes on Bonds: Illiquidity Feedback During the Financial Crisis

Number of pages: 51 Posted: 01 Jul 2015 Last Revised: 09 Oct 2017
David K. Musto, Greg Nini and Krista Schwarz
University of Pennsylvania - Finance Department, Drexel University - Department of Finance and University of Pennsylvania - Finance Department
Downloads 38 (200,041)

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liquidity, feedback, Treasury market, financial crisis, limits to arbitrage, repo

22.

Why Do Institutions Delay Reporting Their Shareholdings? Evidence from Form 13F

Rotman School of Management Working Paper No. 2661535, 27th Annual Conference on Financial Economics and Accounting Paper
Number of pages: 57 Posted: 18 Sep 2015 Last Revised: 07 Jul 2016
University of Toronto - Rotman School of Management, Board of Governors of Federal Reserve System and University of Pennsylvania - Finance Department
Downloads 12 (139,978)

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SEC, Reporting Requirements, 13F Filings

23.

In Pursuit of Good & Gold: Data Observations of Employee Ownership & Impact Investment

Seattle University Law Review, Vol. 40, No. 2, 2017, Georgia State University College of Law, Legal Studies Research Paper No. 2017-10
Number of pages: 56 Posted: 10 Mar 2017 Last Revised: 29 Jun 2017
University of Pennsylvania - The Wharton School, Finance Department, University of Chicago - Booth School of Business, University of Pennsylvania - Finance Department and Georgia State University College of Law
Downloads 0 (242,941)

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Shareholders, Impact Investors, Employee Shareholders, Employee Stock Ownership, Venture Capital, Employee Ownership, Investment Funds, Startups

24.

Great Expectations: Mission Preservation and Financial Performance in Impact Investing

Number of pages: 32 Posted: 26 Jan 2016
University of Pennsylvania - The Wharton School, University of Pennsylvania - The Wharton School, University of Pennsylvania - The Wharton School, University of Chicago - Booth School of Business, University of Pennsylvania - Finance Department and University of Pennsylvania - The Wharton School, Finance Department
Downloads 0 (121,449)

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impact investing, private equity, venture capital, social impact, financial performance, mission preservation, gross performance, transactions, exits

25.

Who Benefits from Bond Market Modernization?

Number of pages: 63 Posted: 11 Jan 2016 Last Revised: 18 Nov 2016
David K. Musto and Jillian (Popadak) Grennan
University of Pennsylvania - Finance Department and Duke University - Fuqua School of Business
Downloads 0 (118,097)

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Raising Capital, Financial Innovation, Financial Intermediation, Fixed Income, Corporate Bonds, Contracting, Covenants, Primary Offerings, WKSI, Securities Offering Reform, Underwriting Quality, WorldCom Litigation, Liability Risk

26.

Investor Flows to Asset Managers: Causes and Consequences

Annual Review of Financial Economics, Vol. 6, pp. 289-310, 2014
Posted: 25 Nov 2014
University of Toronto - Rotman School of Management, University of Pennsylvania - Finance Department and University of Maryland - Robert H. Smith School of Business

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27.

The Economics of Mutual Funds

Annual Review of Financial Economics, Vol. 3, pp. 159-172, 2011
Posted: 10 Jan 2012
David K. Musto
University of Pennsylvania - Finance Department

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28.

Leaning for the Tape: Evidence of Gaming Behavior in Equity Mutual Funds

The Journal of Finance, Vol. 57, pp. 661-693, 2002
Posted: 19 Nov 2002
Mark M. Carhart, Adam V. Reed, Ron Kaniel and David K. Musto
Kepos Capital LP, University of North Carolina Kenan-Flagler Business School, University of Rochester - Simon Business School and University of Pennsylvania - Finance Department

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29.

Investment Decisions Depend on Portfolio Disclosure

Wharton 97-49
Posted: 11 Feb 1998
David K. Musto
University of Pennsylvania - Finance Department

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30.

Portfolio Disclosures and Year-End Price Shifts

Journal of Finance, Vol. 52, No. 4, September 1997
Posted: 20 Nov 1996
David K. Musto
University of Pennsylvania - Finance Department

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