Michelle Lowry

Drexel University

Professor of Finance

Philadelphia, PA 19104

United States

SCHOLARLY PAPERS

23

DOWNLOADS
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Top 1,932

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14,991

CITATIONS
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SSRN RANKINGS

Top 1,130

in Total Papers Citations

481

Scholarly Papers (23)

1.
Downloads 2,566 ( 4,145)
Citation 18

Biases in the IPO Pricing Process

Simon School of Business Working Paper No. FR 01-02
Number of pages: 40 Posted: 22 Feb 2001
Michelle Lowry and G. William Schwert
Drexel University and University of Rochester - Simon Business School
Downloads 2,499 (4,235)
Citation 18

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IPO, Underpricing, Private Information, Learning

Biases in the IPO Pricing Process

NBER Working Paper No. w8586
Number of pages: 43 Posted: 10 Nov 2001 Last Revised: 01 Jan 2010
Michelle Lowry and G. William Schwert
Drexel University and University of Rochester - Simon Business School
Downloads 67 (311,595)
Citation 18

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2.
Downloads 2,102 ( 5,780)
Citation 146

IPO Market Cycles: Bubbles or Sequential Learning?

Simon School of Business Working Paper No. FR 00-21
Number of pages: 29 Posted: 18 Jan 2001
Michelle Lowry and G. William Schwert
Drexel University and University of Rochester - Simon Business School
Downloads 2,030 (5,986)
Citation 146

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IPO, Underpricing, Cycles, Private Information, Learning

IPO Market Cycles: Bubbles or Sequential Learning?

NBER Working Paper No. w7935
Number of pages: 35 Posted: 30 Sep 2000 Last Revised: 19 Oct 2010
Michelle Lowry and G. William Schwert
Drexel University and University of Rochester - Simon Business School
Downloads 72 (299,173)
Citation 146

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IPO Market Cycles: Bubbles or Sequential Learning?

Journal of Finance, Vol. 57, pp. 1171-1200, 2002
Posted: 29 Nov 2003
Michelle Lowry and G. William Schwert
Drexel University and University of Rochester - Simon Business School

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3.
Downloads 1,488 ( 10,355)
Citation 27

The Variability of IPO Initial Returns

Simon School Working Paper No. FR 06-06, forthcoming, Journal of Finance
Number of pages: 37 Posted: 07 Jul 2006 Last Revised: 13 Feb 2009
Micah S. Officer, Michelle Lowry and G. William Schwert
Loyola Marymount University - Department of Finance and Computer Information Systems, Drexel University and University of Rochester - Simon Business School
Downloads 1,426 (10,846)
Citation 27

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IPO, Underpricing, Cycles, Information Asymmetry, Conditional Heteroskedasticity, Volatility

The Variability of IPO Initial Returns

NBER Working Paper No. w12295
Number of pages: 54 Posted: 16 Jun 2006
Micah S. Officer, Michelle Lowry and G. William Schwert
Loyola Marymount University - Department of Finance and Computer Information Systems, Drexel University and University of Rochester - Simon Business School
Downloads 62 (324,770)
Citation 27

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4.

Risk Management Research Report - Spring 2010

Risk Management Research Report, Spring 2010
Number of pages: 16 Posted: 23 Apr 2010
HEC Paris - Finance Department, affiliation not provided to SSRN, University of Massachusetts Amherst - Department of Finance, Brooklyn College - CUNY, Drexel University, Loyola Marymount University - Department of Finance and Computer Information Systems, University of Rochester - Simon Business School, Temple University - Department of Finance, Southern Illinois University at Edwardsville - Department of Economics & Finance, University of California, Santa Barbara - Department of Economics, University of California, San Diego (UCSD) - Rady School of Management, University of Utah - David Eccles School of Business, Purdue University - Krannert School of Management, HEC Paris - Finance Department, Harvard Law School, Columbia Business School - Finance and Economics, New York University (NYU) - Department of Finance, Department of Economics, Texas A&M University, Texas A&M University - Department of Economics, International Food Policy Research Institute (IFPRI), Catolica Lisbon School of Business and Economics, University of Georgia - Department of Banking and Finance, Southern Methodist University (SMU) - Finance Department, Pennsylvania State University, Smeal College of Business, University of California at Los Angeles - Anderson School of Management, INSEAD, University of South Florida - College of Business Administration, Fordham University - Gabelli School of Business, New York University (NYU) - Department of Finance, Fordham University - Gabelli School of Business and Loyola University of Chicago - Department of Finance
Downloads 1,220 (12,661)

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Risk, Risk Management, Derivatives, Corporate Governance, Financial Derivatives, Value-At-Risk, VaR, Ethics, Volatility, Variance, Standard Deviation, Systemic, Systematic

5.

Executive Stock Options and IPO Underpricing

Number of pages: 39 Posted: 21 Jun 2005
Michelle Lowry and Kevin J. Murphy
Drexel University and University of Southern California - Marshall School of Business
Downloads 713 (28,274)
Citation 12

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Initial public offering; IPO underpricing; Executive compensation; Stock options

6.

Institutional Versus Individual Investment in Ipos: The Importance of Firm Fundamentals

AFA 2006 Boston Meetings Paper
Number of pages: 47 Posted: 04 Nov 2004
Laura Casares Field and Michelle Lowry
University of Delaware - Alfred Lerner College of Business and Economics and Drexel University
Downloads 660 (31,725)
Citation 18

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Initial public offerings, institutional investors, individual investors, long-run performance

7.

Why Does IPO Volume Fluctuate so Much?

Journal of Financial Economics (JFE), Vol. 67, pp. 3-40, 2003
Number of pages: 49 Posted: 31 May 2005
Michelle Lowry
Drexel University
Downloads 586 (32,864)
Citation 99

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IPO, capital demands, information asymmetry, investor sentiment

8.

Are Busy Boards Detrimental?

Number of pages: 55 Posted: 25 Jul 2011 Last Revised: 20 Nov 2012
University of Delaware - Alfred Lerner College of Business and Economics, Drexel University and Northeastern University - D’Amore-McKim School of Business
Downloads 506 (38,807)
Citation 11

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Corporate governance, IPO, Board of directors, venture capital

9.

Are Mutual Funds Active Voters?

Review of Financial Studies, 2015
Number of pages: 64 Posted: 13 Sep 2012 Last Revised: 09 Apr 2015
Peter Iliev and Michelle Lowry
Pennsylvania State University - Department of Finance and Drexel University
Downloads 453 (33,694)
Citation 5

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Shareholder voting, agency costs, monitors, mutual funds

10.

When do Banks Listen to Their Analysts? Evidence from Mergers and Acquisitions

Review of Financial Studies, Forthcoming
Number of pages: 58 Posted: 22 Mar 2009 Last Revised: 15 Apr 2010
David Haushalter and Michelle Lowry
Pennsylvania State University - Mary Jean and Frank P. Smeal College of Business Administration and Drexel University
Downloads 197 (126,894)
Citation 4

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merger, analyst, investment banking, conflicts of interest

11.

The Information Advantage of Underwriters in IPOs

Forthcoming, Management Science
Number of pages: 48 Posted: 17 Mar 2014 Last Revised: 12 Jun 2018
Yao-Min Chiang, Michelle Lowry and Yiming Qian
National Taiwan University - Department of Finance, Drexel University and University of Iowa - Department of Finance
Downloads 100 (121,377)

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IPO, underwriter, information advantage, proprietary trading, bookbuilding, auction, IPO method, investment bank

12.

Informed Trading by Adviser Banks: Evidence from Options Holdings

Forthcoming, Review of Financial Studies
Number of pages: 65 Posted: 18 Mar 2015 Last Revised: 16 Jun 2018
Michelle Lowry, Marco Rossi and Zhongyan Zhu
Drexel University, Texas A&M and Monash University
Downloads 78 (104,078)

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Conflict of Interest, Merger, Informed Trading, Dodd Frank, Volcker Rule

13.

Discussion of 'Shareholder Litigation and Changes in Disclosure Behavior'

Journal of Accounting and Economics, Forthcoming
Number of pages: 9 Posted: 11 Nov 2008
Michelle Lowry
Drexel University
Downloads 72 (266,438)
Citation 4

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14.

Does Disclosure Deter or Trigger Litigation?

Journal of Accounting & Economics, Forthcoming
Number of pages: 32 Posted: 15 Oct 2004 Last Revised: 26 Oct 2011
Laura Casares Field, Michelle Lowry and Susan Shu
University of Delaware - Alfred Lerner College of Business and Economics, Drexel University and Boston College - Carroll School of Management
Downloads 69 (195,935)
Citation 74

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Shareholder litigation, Earnings disclosures, Endogeneity

15.

Litigation Risk and IPO Underpricing

Journal of Financial Economics (JFE), Vol. 65, 2002
Number of pages: 43 Posted: 26 Oct 2011
Michelle Lowry
Drexel University
Downloads 59 (251,910)
Citation 53

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Initial public offering, IPO underpricing, Securities litigation, Endogeneity

16.

Are All Perks Solely Perks? Evidence from Corporate Jets

Forthcoming, Journal of Corporate Finance
Number of pages: 39 Posted: 03 May 2013 Last Revised: 16 Jun 2018
Lian Fen Lee, Michelle Lowry and Susan Shu
Boston College - Carroll School of Management, Drexel University and Boston College - Carroll School of Management
Downloads 47 (168,198)

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connections, corporate jets, agency, information transfer

17.

Investors' Attention to Corporate Governance

Number of pages: 55 Posted: 27 Apr 2018
Peter Iliev, Jonathan Kalodimos and Michelle Lowry
Pennsylvania State University - Department of Finance, Oregon State University - College of Business and Drexel University
Downloads 0 (197,105)

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Corporate Governance, Governance Research, Agency, Institutional Investors, ISS

18.

Mutual Fund Investments in Private Firms

Number of pages: 74 Posted: 27 Mar 2017 Last Revised: 04 Mar 2018
Sungjoung Kwon, Michelle Lowry and Yiming Qian
Drexel University - Bennett S. LeBow College of Business, Drexel University and University of Iowa - Department of Finance
Downloads 0 (50,073)

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private firm, mutual fund, IPO

19.

Initial Public Offerings: A Synthesis of the Literature and Directions for Future Research

Forthcoming Foundations and Trends in Finance
Number of pages: 186 Posted: 07 Feb 2017 Last Revised: 28 Aug 2017
Michelle Lowry, Roni Michaely and Ekaterina Volkova
Drexel University, Cornell University - Cornell Tech NYC and The University of Melbourne - Faculty of Business and Economics
Downloads 0 (17,468)

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20.

Bucking the Trend: Why do IPOs Choose Controversial Governance Structures and Why Do Investors Let Them

Number of pages: 55 Posted: 05 Jan 2017 Last Revised: 16 Dec 2017
Laura Casares Field and Michelle Lowry
University of Delaware - Alfred Lerner College of Business and Economics and Drexel University
Downloads 0 (128,028)

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IPO, Classified Board, Governance

21.

Information Revelation Through Regulatory Process: Interactions between the SEC and Companies Ahead of the IPO

Fifth Annual Conference on Financial Market Regulation
Number of pages: 67 Posted: 02 Jul 2016 Last Revised: 16 Jun 2018
Michelle Lowry, Roni Michaely and Ekaterina Volkova
Drexel University, Cornell University - Cornell Tech NYC and The University of Melbourne - Faculty of Business and Economics
Downloads 0 (87,492)

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Regulation, IPO, Disclosure

22.

Venturing Beyond the IPO: Financing of Newly Public Firms by Pre-IPO Investors

Number of pages: 61 Posted: 18 Apr 2016 Last Revised: 22 Feb 2017
Peter Iliev and Michelle Lowry
Pennsylvania State University - Department of Finance and Drexel University
Downloads 0 (121,885)

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Venture Capitalists, Private Equity, Newly Public Firms, Equity Issuance, IPOs

23.

IPO Market Cycles: An Exploratory Investigation

Simon School of Business Working Paper No. FR 00-18
Number of pages: 35 Posted: 14 Feb 2000
Michelle Lowry and G. William Schwert
Drexel University and University of Rochester - Simon Business School
Downloads 0
Citation 8

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