Michelle Lowry

Drexel University

3141 Chestnut St

Philadelphia, PA 19104

United States

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

SCHOLARLY PAPERS

39

DOWNLOADS
Rank 1,437

SSRN RANKINGS

Top 1,437

in Total Papers Downloads

36,675

SSRN CITATIONS
Rank 958

SSRN RANKINGS

Top 958

in Total Papers Citations

1,080

CROSSREF CITATIONS

597

Scholarly Papers (39)

1.

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, The University of Hong Kong and University of Melbourne - Faculty of Business and Economics
Downloads 5,401 (3,130)
Citation 73

Abstract:

Loading...

2.
Downloads 2,770 ( 9,409)
Citation 99

Biases in the IPO Pricing Process

Number of pages: 40 Posted: 22 Feb 2001
Michelle Lowry and G. William Schwert
Drexel University and University of Rochester - Simon Business School
Downloads 2,660 (9,896)
Citation 2

Abstract:

Loading...

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: 19 Jun 2022
Michelle Lowry and G. William Schwert
Drexel University and University of Rochester - Simon Business School
Downloads 110 (475,574)
Citation 31

Abstract:

Loading...

3.
Downloads 2,375 (12,055)
Citation 24

IPO Market Cycles: Bubbles or Sequential Learning?

Number of pages: 29 Posted: 18 Jan 2001
Michelle Lowry and G. William Schwert
Drexel University and University of Rochester - Simon Business School
Downloads 2,163 (13,736)
Citation 49

Abstract:

Loading...

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: 09 Mar 2022
Michelle Lowry and G. William Schwert
Drexel University and University of Rochester - Simon Business School
Downloads 212 (273,639)
Citation 1

Abstract:

Loading...

IPO Market Cycles: Bubbles or Sequential Learning?

Posted: 29 Nov 2003
Michelle Lowry and G. William Schwert
Drexel University and University of Rochester - Simon Business School

Abstract:

Loading...

4.
Downloads 1,819 (18,392)
Citation 97

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, Drexel University and University of Rochester - Simon Business School
Downloads 1,688 (20,296)

Abstract:

Loading...

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 Last Revised: 07 Aug 2022
Micah S. Officer, Michelle Lowry and G. William Schwert
Loyola Marymount University - Department of Finance, Drexel University and University of Rochester - Simon Business School
Downloads 131 (415,606)
Citation 14

Abstract:

Loading...

5.

ES Risks and Shareholder Voice

Review of Financial Studies, Forthcoming, European Corporate Governance Institute – Finance Working Paper No. 786/2021
Number of pages: 72 Posted: 26 Nov 2018 Last Revised: 06 Mar 2023
Yazhou He, Bige Kahraman and Michelle Lowry
The University of Manchester, University of Oxford - Said Business School and Drexel University
Downloads 1,738 (19,749)
Citation 3

Abstract:

Loading...

shareholder proposals, voting, mutual funds, environmental, social

6.

Does Common Ownership Really Increase Firm Coordination?

Journal of Financial Economics (JFE), Forthcoming, Tuck School of Business Working Paper No. 3336343, European Corporate Governance Institute – Finance Working Paper No. 741/2021
Number of pages: 83 Posted: 04 Mar 2019 Last Revised: 19 Mar 2021
Katharina Lewellen and Michelle Lowry
Dartmouth College - Tuck School of Business and Drexel University
Downloads 1,682 (20,770)
Citation 71

Abstract:

Loading...

common ownership, institutional investors, corporate governance

7.

Investors' Attention to Corporate Governance

Review of Financial Studies, forthcoming
Number of pages: 63 Posted: 27 Apr 2018 Last Revised: 19 Nov 2021
Peter Iliev, Jonathan Kalodimos and Michelle Lowry
Pennsylvania State University - Department of Finance, Oregon State University - College of Business and Drexel University
Downloads 1,572 (23,047)
Citation 17

Abstract:

Loading...

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

8.

Mutual Fund Investments in Private Firms

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 79 Posted: 27 Mar 2017 Last Revised: 18 Sep 2019
Sungjoung Kwon, Michelle Lowry and Yiming Qian
Wayne State University - Mike Ilitch School of Business, Drexel University and University of Connecticut - Department of Finance
Downloads 1,500 (24,730)
Citation 8

Abstract:

Loading...

private firm, mutual fund, IPO

9.

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, University of Rochester - Simon Business School, Temple University - Department of Finance, Southern Illinois University - Department of Economics & Finance, University of California, Santa Barbara (UCSB) - Department of Economics, University of California, San Diego (UCSD) - Rady School of Management, University of Utah - David Eccles School of Business, Mitchell E. Daniels, Jr School of Business, Purdue University, HEC Paris - Finance Department, Harvard Law School, Columbia University - Columbia Business School, Finance, New York University (NYU) - Department of Finance, Texas A&M University - Department of Economics, Texas A&M University - Department of Economics, International Food Policy Research Institute (IFPRI)International Food Policy Research Institute (IFPRI), University of Navarra, IESE Business School, 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, New York University (NYU) - Leonard N. Stern School of Business, Fordham University - Gabelli School of Business and Loyola University of Chicago - Department of Finance
Downloads 1,441 (26,241)

Abstract:

Loading...

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

10.

Regulatory Fragmentation

Forthcoming, Journal of Finance
Number of pages: 65 Posted: 01 Apr 2021 Last Revised: 17 Jan 2024
University of Rochester - Simon Business School, Drexel University and University of Melbourne - Faculty of Business and Economics
Downloads 1,407 (27,169)

Abstract:

Loading...

E22, G18, G28, G31

11.

Are Mutual Funds Active Voters?

Review of Financial Studies, 2015
Number of pages: 64 Posted: 13 Sep 2012 Last Revised: 23 Nov 2020
Peter Iliev and Michelle Lowry
Pennsylvania State University - Department of Finance and Drexel University
Downloads 1,245 (32,517)
Citation 143

Abstract:

Loading...

Shareholder voting, agency costs, monitors, mutual funds

12.

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

Fifth Annual Conference on Financial Market Regulation, Swiss Finance Institute Research Paper No. 19-47, Forthcoming in Review of Financial Studies
Number of pages: 67 Posted: 02 Jul 2016 Last Revised: 26 Sep 2019
Michelle Lowry, Roni Michaely and Ekaterina Volkova
Drexel University, The University of Hong Kong and University of Melbourne - Faculty of Business and Economics
Downloads 1,161 (35,911)
Citation 43

Abstract:

Loading...

Regulation, IPO, Disclosure

13.

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

Journal of Financial Economics (JFE), Forthcoming, European Corporate Governance Institute – Finance Working Paper No. 830/2022
Number of pages: 76 Posted: 08 Jun 2022 Last Revised: 10 Oct 2022
Laura Casares Field and Michelle Lowry
University of Delaware - Alfred Lerner College of Business and Economics and Drexel University
Downloads 979 (45,822)
Citation 11

Abstract:

Loading...

IPOs, governance, dual class, classified board, shareholder voting, founders, carve-outs

14.

Are All ESG Funds Created Equal? Only Some Funds Are Committed

European Corporate Governance Institute – Finance Working Paper No. 874/2023
Number of pages: 64 Posted: 26 May 2022 Last Revised: 04 Mar 2024
Michelle Lowry, Pingle Wang and Kelsey D. Wei
Drexel University, University of Texas at Dallas, Naveen Jindal School of Management, Department of Finance and University of Texas at Dallas
Downloads 929 (49,289)
Citation 5

Abstract:

Loading...

mutual funds, ESG

15.

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 Last Revised: 16 Aug 2023
Michelle Lowry
Drexel University
Downloads 906 (51,014)
Citation 50

Abstract:

Loading...

IPO, capital demands, information asymmetry, investor sentiment

16.

Executive Stock Options and IPO Underpricing

Journal of Financial Economics (JFE), Vol. 85, 2007
Number of pages: 39 Posted: 21 Jun 2005 Last Revised: 16 Aug 2023
Michelle Lowry and Kevin J. Murphy
Drexel University and University of Southern California - Marshall School of Business
Downloads 866 (54,314)
Citation 4

Abstract:

Loading...

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

17.

Venturing Beyond the IPO: Financing of Newly Public Firms by Venture Capitalists

Journal of Finance, Forthcoming
Number of pages: 72 Posted: 18 Apr 2016 Last Revised: 11 Dec 2019
Peter Iliev and Michelle Lowry
Pennsylvania State University - Department of Finance and Drexel University
Downloads 824 (58,119)
Citation 6

Abstract:

Loading...

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

18.

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

AFA 2006 Boston Meetings Paper, Journal of Financial and Quantitative Analysis 44 (2009)
Number of pages: 47 Posted: 04 Nov 2004 Last Revised: 16 Aug 2023
Laura Casares Field and Michelle Lowry
University of Delaware - Alfred Lerner College of Business and Economics and Drexel University
Downloads 807 (59,780)
Citation 46

Abstract:

Loading...

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

19.

Are Busy Boards Detrimental?

Journal of Financial Economics (JFE), Vol. 109, 2013
Number of pages: 55 Posted: 25 Jul 2011 Last Revised: 16 Aug 2023
University of Delaware - Alfred Lerner College of Business and Economics, Drexel University and University of Massachusetts Amherst - Isenberg School of Management
Downloads 785 (62,058)
Citation 100

Abstract:

Loading...

Corporate governance, IPO, Board of directors, venture capital

20.

Firms’ Transition to Green: Innovation versus Lobbying

European Corporate Governance Institute – Finance Working Paper No. 921/2023
Number of pages: 83 Posted: 22 Dec 2022 Last Revised: 31 Aug 2024
Sungjoung Kwon, Michelle Lowry and Michela Verardo
Wayne State University - Mike Ilitch School of Business, Drexel University and London School of Economics & Political Science (LSE)
Downloads 749 (66,012)

Abstract:

Loading...

Green innovation, Environmental lobbying

21.

What's Good for Women Is Good for Science: Evidence from the American Finance Association

Review of Corporate Finance Studies, forthcoming
Number of pages: 76 Posted: 05 Nov 2021 Last Revised: 04 Mar 2022
Renee B. Adams and Michelle Lowry
University of Oxford and Drexel University
Downloads 550 (97,721)
Citation 12

Abstract:

Loading...

Gender, diversity, preferences, structure of work, bias

22.

The Blurring Lines between Private and Public Ownership

European Corporate Governance Institute – Finance Working Paper No. 844/2022
Number of pages: 56 Posted: 07 Sep 2022 Last Revised: 09 Apr 2024
Michelle Lowry
Drexel University
Downloads 523 (104,136)
Citation 1

Abstract:

Loading...

private firms, IPOs, governance, mergers, capital raising

23.

A Critical Review of the Common Ownership Literature

FRB Atlanta Working Paper No. 2023-17, European Corporate Governance Institute – Finance Working Paper No. 943/2023
Number of pages: 48 Posted: 14 Nov 2023
Kristopher Gerardi, Michelle Lowry and Carola Schenone
Federal Reserve Bank of Atlanta, Drexel University and University of Virginia - McIntire School
Downloads 518 (105,095)

Abstract:

Loading...

common ownership, institutional investors, corporate governance

24.

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 John C. Chu
Drexel University, Texas A&M and Monash University
Downloads 503 (109,054)
Citation 22

Abstract:

Loading...

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

25.

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 473
Citation 4

Abstract:

Loading...

26.

The Information Advantage of Underwriters in IPOs

Forthcoming, Management Science
Number of pages: 48 Posted: 17 Mar 2014 Last Revised: 18 Sep 2019
Yao-Min Chiang, Michelle Lowry and Yiming Qian
National Taiwan University - Department of Finance, Drexel University and University of Connecticut - Department of Finance
Downloads 433 (130,253)
Citation 4

Abstract:

Loading...

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

27.

The Changing Landscape of Corporate Governance Disclosure: Impact on Shareholder Voting

European Corporate Governance Institute – Finance Working Paper 915/2023
Number of pages: 75 Posted: 27 Apr 2023 Last Revised: 03 Dec 2023
David Becher, Michelle Lowry and Jared I. Wilson
Drexel University, Drexel University and Indiana University - Kelley School of Business
Downloads 356 (162,457)

Abstract:

Loading...

shareholder voting, boards of directors, skills matrices, corporate governance disclosure

28.

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 307 (190,264)
Citation 4

Abstract:

Loading...

merger, analyst, investment banking, conflicts of interest

29.

Local IPOs and Household Stock Market Participation

Review of Finance forthcoming
Number of pages: 70 Posted: 27 Aug 2021 Last Revised: 13 Jun 2024
Feng Jiang, Michelle Lowry and Yiming Qian
University at Buffalo - School of Management, Drexel University and University of Connecticut - Department of Finance
Downloads 292 (200,550)

Abstract:

Loading...

IPO, household finance, stock market participation, attention, local agglomeration JEL codes: G32, G51, G53

30.

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 291 (201,293)
Citation 88

Abstract:

Loading...

Shareholder litigation, Earnings disclosures, Endogeneity

31.

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 281 (208,715)
Citation 6

Abstract:

Loading...

connections, corporate jets, agency, information transfer

32.

Diversity, Inclusion, and the Dissemination of Ideas: Evidence from the Academic Finance Profession

Number of pages: 31 Posted: 23 Jan 2021
Renee B. Adams and Michelle Lowry
University of Oxford and Drexel University
Downloads 228 (256,636)

Abstract:

Loading...

diversity, survey, academics

33.

The Gender Pay Gap: Pay for Performance and Sorting across Employers

FSU College of Law, Law, Business & Economics Paper , FSU College of Law, Public Law Research Paper , European Corporate Governance Institute – Finance Working Paper No. 833/2022
Number of pages: 53 Posted: 06 Apr 2022 Last Revised: 08 Aug 2023
University of South Florida, University of South Carolina - Darla Moore School of Business, Drexel University and University of South Florida
Downloads 224 (260,979)

Abstract:

Loading...

Gender gap, gender inequality, compensation, faculty, research productivity, career paths

34.

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 182 (315,488)
Citation 19

Abstract:

Loading...

Initial public offering, IPO underpricing, Securities litigation, Endogeneity

35.

The Questions Being Asked: Academic Research, the Media, and Regulators

The Financial Review, Forthcoming
Number of pages: 26 Posted: 28 Dec 2023 Last Revised: 29 Jan 2024
Michelle Lowry
Drexel University
Downloads 130 (416,898)
Citation 2

Abstract:

Loading...

research, corporate finance, regulatory, industry

36.

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 123 (434,828)
Citation 2

Abstract:

Loading...

37.

The Culture of the Finance Profession: Evidence from the 2020/2021 American Finance Association Survey

European Corporate Governance Institute – Finance Working Paper No. 845/2022
Number of pages: 66 Posted: 07 Sep 2022 Last Revised: 09 Apr 2024
Renee B. Adams and Michelle Lowry
University of Oxford and Drexel University
Downloads 114 (460,514)

Abstract:

Loading...

38.

Common Venture Capital Investors

Number of pages: 13 Posted: 26 Jul 2024
Jillian Grennan and Michelle Lowry
Emory University and Drexel University
Downloads 96 (519,608)

Abstract:

Loading...

Common venture capital investors, Venture Capital, Private Equity, Common Ownership, Entrepreneurship, Innovation, Corporate Governance

39.

Discussion of ‘Importing Activists: Determinants and Consequences of Increased Crossborder Shareholder Activism’

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 17 Posted: 07 Sep 2022
Michelle Lowry
Drexel University
Downloads 95 (523,194)

Abstract:

Loading...