Michelle Lowry

Drexel University

Professor of Finance

Philadelphia, PA 19104

United States

SCHOLARLY PAPERS

22

DOWNLOADS
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Top 2,076

in Total Papers Downloads

13,025

CITATIONS
Rank 1,125

SSRN RANKINGS

Top 1,125

in Total Papers Citations

483

Scholarly Papers (22)

1.
Downloads 2,503 ( 3,701)
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 2,445 (3,738)
Citation 18

Abstract:

IPO, Underpricing, Private Information, Learning

Biases in the IPO Pricing Process

NBER Working Paper No. w8586
Number of pages: 43 Posted: 10 Nov 2001
Michelle Lowry and G. William Schwert
Drexel University and University of Rochester - Simon Business School
Downloads 58 (304,918)
Citation 18

Abstract:

2.
Downloads 2,072 ( 5,107)
Citation 147

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 2,005 (5,267)
Citation 147

Abstract:

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
Michelle Lowry and G. William Schwert
Drexel University and University of Rochester - Simon Business School
Downloads 67 (282,665)
Citation 147

Abstract:

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

Abstract:

3.
Downloads 1,432 ( 9,565)
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 1,374 (10,022)
Citation 27

Abstract:

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 58 (304,918)
Citation 27

Abstract:

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, Massachusetts Institute of Technology (MIT) - Sloan School of Management, 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), IMD International, University of Georgia - Department of Banking and Finance, Southern Methodist University (SMU) - Edwin L. Cox School of Business, Pennsylvania State University, Smeal College of Business, University of California at Los Angeles - Anderson School of Management, Columbia Business School - Accounting, Business Law & Taxation, University of South Florida - College of Business Administration, Gabelli School of Business, Fordham University, New York University (NYU) - Department of Finance, Gabelli School of Business, Fordham University and Loyola University of Chicago - Department of Finance
Downloads 1,220 (11,435)

Abstract:

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 (25,831)
Citation 12

Abstract:

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 (29,306)
Citation 19

Abstract:

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 (30,464)
Citation 100

Abstract:

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 (37,135)
Citation 11

Abstract:

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 (34,936)
Citation 5

Abstract:

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 (117,249)
Citation 4

Abstract:

merger, analyst, investment banking, conflicts of interest

11.

The Information Advantage of Underwriters in IPOs

Number of pages: 57 Posted: 17 Mar 2014 Last Revised: 11 Sep 2016
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 (138,147)

Abstract:

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

12.

Informed Trading by Adviser Banks? A Look at Options Holdings Ahead of Mergers

Number of pages: 57 Posted: 18 Mar 2015 Last Revised: 28 Jan 2017
Michelle Lowry, Marco Rossi and Zhongyan Zhu
Drexel University, Texas A&M and Monash University
Downloads 78 (116,743)

Abstract:

investment bank, conflict of interest, merger, options

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 (252,494)
Citation 4

Abstract:

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 (214,327)
Citation 74

Abstract:

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 (254,390)
Citation 52

Abstract:

Initial public offering, IPO underpricing, Securities litigation, Endogeneity

16.

Are Corporate Jets Pure Managerial Excess?

Number of pages: 39 Posted: 03 May 2013 Last Revised: 14 Feb 2017
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 (295,813)

Abstract:

connections, corporate jets, agency, information transfer

17.

Mutual Fund Investments in Private Firms

Number of pages: 65 Posted: 27 Mar 2017 Last Revised: 20 May 2017
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 (103,158)

Abstract:

private firm, mutual fund, IPO

18.

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

Number of pages: 171 Posted: 07 Feb 2017 Last Revised: 20 May 2017
Michelle Lowry, Roni Michaely and Ekaterina Volkova
Drexel University, Johnson@Cornell Tech, Cornell University and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 0 (43,922)

Abstract:

19.

Contrasts in Governance: Newly Public Firms versus Mature Firms

Number of pages: 55 Posted: 05 Jan 2017
Laura Casares Field and Michelle Lowry
University of Delaware - Alfred Lerner College of Business and Economics and Drexel University
Downloads 0 (223,343)

Abstract:

IPO, Classified Board, Governance

20.

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

Number of pages: 60 Posted: 02 Jul 2016 Last Revised: 30 Aug 2016
Michelle Lowry, Roni Michaely and Ekaterina Volkova
Drexel University, Johnson@Cornell Tech, Cornell University and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 0 (185,819)

Abstract:

Regulation, IPO, Disclosure

21.

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 (174,867)

Abstract:

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

22.

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

Abstract: