Joao F. Gomes

The Wharton School

Howard Butcher III Professor of Finance

2329 SH-DH

3620 Locust Walk

Philadelphia, PA 19104

United States

http://fnce.wharton.upenn.edu/profile/gomesj/

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    • Tel: 215-898-3666
    • Fax: 215-898-6200
SCHOLARLY PAPERS

23

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TOTAL CITATIONS
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Top 832

in Total Papers Citations

461

Scholarly Papers (23)

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1.

Equilibrium Credit Spreads and the Macroeconomy

Downloads 1,205 (36,890)
Citation 26

Equilibrium Credit Spreads and the Macroeconomy

AFA 2010 Atlanta Meetings Paper
Number of pages: 46 Posted: 18 Mar 2009 Last Revised: 15 Jun 2011
Joao F. Gomes and Lukas Schmid
The Wharton School and University of Southern California - Marshall School of Business
Downloads 593 (95,126)
Citation 23

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Credit Spreads, Capital Structure, Equity Premium, Predictability, General Equilibrium

Equilibrium Credit Spreads and the Macroeconomy

The Wharton School Research Paper No. 42
Number of pages: 46 Posted: 06 Jun 2012
Joao F. Gomes and Lukas Schmid
The Wharton School and University of Southern California - Marshall School of Business
Downloads 371 (167,048)

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Equilibrium Credit Spreads and the Macroeconomy

Number of pages: 33 Posted: 18 Feb 2009
Joao F. Gomes and Lukas Schmid
The Wharton School and University of Southern California - Marshall School of Business
Downloads 241 (263,428)
Citation 3

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Credit Spreads, Capital Structure, Equity Premium, Preictability, General Equilibrium

2.

Understanding the Behavior of Distressed Stocks

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 67 Posted: 13 Jun 2017 Last Revised: 11 Aug 2020
Yasser Boualam, Joao F. Gomes and Colin Ward
University of Pennsylvania - The Wharton School, The Wharton School and Alberta School of Business, University of Alberta
Downloads 919 (54,231)
Citation 1

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Distress Anomaly, Asset Pricing, Endogenous Default, Nonlinear Estimation

3.

Equilibrium Cross-Section of Returns

Downloads 911 (54,885)
Citation 44

Equilibrium Cross-Section of Returns

U of Pennsylvania, Wharton School Working Paper, Journal of Political Economy, Vol. 111, No. 4, 2003
Number of pages: 71 Posted: 13 Apr 2001 Last Revised: 16 Sep 2009
Joao F. Gomes, Leonid Kogan and Lu Zhang
The Wharton School, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Ohio State University - Fisher College of Business
Downloads 856 (58,874)
Citation 10

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General equilibrium, the cross-section of returns, beta, size, book-to-market ratio, firm heterogeneity, business

Equilibrium Cross-Section of Returns

Number of pages: 61 Posted: 14 Sep 2002
Joao F. Gomes, Leonid Kogan and Lu Zhang
The Wharton School, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Ohio State University - Fisher College of Business
Downloads 55 (789,340)
Citation 34
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Production based asset pricing, beta, size and book-to-market factors, CAPM, business cycle properties of stock returns

Equilibrium Cross-Section of Returns

MIT Sloan Working Paper No. 4265-02
Posted: 22 Oct 2002
Leonid Kogan, Joao F. Gomes and Lu Zhang
Massachusetts Institute of Technology (MIT) - Sloan School of Management, The Wharton School and Ohio State University - Fisher College of Business

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Asset Pricing, Stock Returns, Book-to-market, Size, Equilibrium, Cross-section, Production, Investment, Business Cycle, Aggregation, Heterogeneity

4.

Foreseen Risks

Downloads 836 (61,796)
Citation 1

Foreseen Risks

Number of pages: 71 Posted: 12 Jan 2018 Last Revised: 15 Jul 2023
Joao F. Gomes, Marco Grotteria and Jessica A. Wachter
The Wharton School, London Business School and University of Pennsylvania - Finance Department
Downloads 799 (64,585)

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Credit Bubbles, Financial intermediaries, Financial Crises, Risk Shifting

Foreseen Risks

NBER Working Paper No. w25277
Number of pages: 66 Posted: 19 Nov 2018 Last Revised: 25 Jan 2023
Joao F. Gomes, Marco Grotteria and Jessica A. Wachter
The Wharton School, London Business School and University of Pennsylvania - Finance Department
Downloads 37 (937,949)
Citation 1

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5.

Durability of Output and Expected Stock Returns

Downloads 798 (65,706)
Citation 11

Durability of Output and Expected Stock Returns

Journal of Political Economy, Vol. 117, No. 5, 2009, AFA 2008 New Orleans Meetings Paper
Number of pages: 63 Posted: 20 Mar 2007 Last Revised: 01 Nov 2009
Joao F. Gomes, Leonid Kogan and Motohiro Yogo
The Wharton School, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Princeton University - Department of Economics
Downloads 701 (76,707)

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Cash flow, Durable goods, Factor-mimicking portfolio, Input-output accounts, Stock returns

Durability of Output and Expected Stock Returns

NBER Working Paper No. w12986
Number of pages: 65 Posted: 23 Mar 2007 Last Revised: 26 Dec 2022
Joao F. Gomes, Leonid Kogan and Motohiro Yogo
The Wharton School, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Princeton University - Department of Economics
Downloads 97 (572,881)
Citation 11

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6.

Investment without Q

AFA 2013 San Diego Meetings Paper
Number of pages: 32 Posted: 20 Mar 2012 Last Revised: 28 Oct 2019
Vito D. Gala and Joao F. Gomes
Morningstar Investment Management LLC and The Wharton School
Downloads 748 (71,651)
Citation 7

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Corporate Investment, Firm Decisions, Indirect Inference

7.

Cyclical Dispersion in Expected Defaults

Downloads 719 (75,437)
Citation 3

Cyclical Dispersion in Expected Defaults

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 61 Posted: 10 Apr 2017 Last Revised: 11 Aug 2020
Joao F. Gomes, Marco Grotteria and Jessica A. Wachter
The Wharton School, London Business School and University of Pennsylvania - Finance Department
Downloads 677 (80,205)
Citation 3

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Expected Default, Bond Issuance, Business Cycles, Disaster Risk

Cyclical Dispersion in Expected Defaults

NBER Working Paper No. w23704
Number of pages: 51 Posted: 21 Aug 2017 Last Revised: 09 Apr 2023
Joao F. Gomes, Marco Grotteria and Jessica A. Wachter
The Wharton School, London Business School and University of Pennsylvania - Finance Department
Downloads 42 (891,385)

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8.

Financing Investment

American Economic Review, Vol. 91, No. 5, 2001
Number of pages: 69 Posted: 27 Jun 2011
Joao F. Gomes
The Wharton School
Downloads 709 (77,455)
Citation 107

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investment, financing constraints, cash flow, Q theory, firm distribution

9.

Optimal Diversification

Downloads 690 (79,398)
Citation 3

Optimal Diversification

Number of pages: 31 Posted: 30 Nov 2002
Joao F. Gomes and Dmitry Livdan
The Wharton School and University of California, Berkeley
Downloads 663 (82,418)
Citation 3

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Optimal Diversification

Number of pages: 33 Posted: 04 Sep 2002
Joao F. Gomes and Dmitry Livdan
The Wharton School and University of California, Berkeley
Downloads 27 (1,044,972)
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Diversification discount, size, corporate strategy, total factor productivity, diversification

10.

Asset Pricing Implications of Firms' Financing Constraints

Downloads 663 (83,556)
Citation 21

Asset Pricing Implications of Firms' Financing Constraints

Simon Business School Working Paper No. 03-21; AFA 2003 Washington, DC Meetings; Twelfth Annual Utah Winter Finance Conference
Number of pages: 58 Posted: 17 Oct 2002
Joao F. Gomes, Amir Yaron, Amir Yaron and Lu Zhang
The Wharton School, Bank of IsraelUniversity of Pennsylvania -- Wharton School of Business and Ohio State University - Fisher College of Business
Downloads 375 (165,001)

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Asset Pricing Implications of Firms' Financing Constraints

Review of Financial Studies, August 2005
Number of pages: 43 Posted: 06 Dec 2005
Joao F. Gomes, Amir Yaron, Amir Yaron and Lu Zhang
The Wharton School, Bank of IsraelUniversity of Pennsylvania -- Wharton School of Business and Ohio State University - Fisher College of Business
Downloads 183 (342,615)

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Financing constraints, production-based asset pricing, structural estimation, cyclicality, the cross-section of returns

Asset Pricing Implications of Firms' Financing Constraints

NBER Working Paper No. w9365
Number of pages: 58 Posted: 06 Dec 2002 Last Revised: 05 Aug 2022
Joao F. Gomes, Amir Yaron, Amir Yaron and Lu Zhang
The Wharton School, Bank of IsraelUniversity of Pennsylvania -- Wharton School of Business and Ohio State University - Fisher College of Business
Downloads 78 (656,057)
Citation 13

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Asset Pricing Implications of Firms' Financing Constraints

Number of pages: 46 Posted: 20 Sep 2002
Joao F. Gomes, Amir Yaron, Amir Yaron and Lu Zhang
The Wharton School, Bank of IsraelUniversity of Pennsylvania -- Wharton School of Business and Ohio State University - Fisher College of Business
Downloads 27 (1,045,247)
Citation 8
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Production based asset pricing, financing constraints, financing premium

Asset Pricing Implications of Firms' Financing Constraints

The Review of Financial Studies, Vol. 19, Issue 4, pp. 1321-1356, 2006
Posted: 29 Feb 2008
Joao F. Gomes, Amir Yaron, Amir Yaron and Lu Zhang
The Wharton School, Bank of IsraelUniversity of Pennsylvania -- Wharton School of Business and University of Rochester

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11.

Monetary Policy and Financial Stability

Number of pages: 36 Posted: 28 Mar 2023 Last Revised: 18 Jan 2024
Joao F. Gomes and Sergey Sarkisyan
The Wharton School and Ohio State University (OSU) - Department of Finance
Downloads 662 (83,740)

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Credit spreads, monetary policy rules, financial stability

12.

Marginal q

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 58 Posted: 07 Apr 2020 Last Revised: 06 Nov 2024
Vito D. Gala, Joao F. Gomes and Tong Liu
Morningstar Investment Management LLC, The Wharton School and MIT Sloan School of Management
Downloads 535 (110,180)
Citation 1

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Corporate investment, firm decisions, value of capital, marginal q, Tobin Q

13.

Levered Returns

Number of pages: 45 Posted: 02 Mar 2007
Joao F. Gomes and Lukas Schmid
The Wharton School and University of Southern California - Marshall School of Business
Downloads 499 (119,414)
Citation 79

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Cross-section of Returns, Growth Options, Financing, Leverage, Capital Structure

14.

Investment without Q

The Wharton School Research Paper No. 41
Number of pages: 31 Posted: 24 Jul 2013 Last Revised: 28 Oct 2019
Vito D. Gala and Joao F. Gomes
Morningstar Investment Management LLC and The Wharton School
Downloads 379 (164,627)
Citation 6

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Corporate Investment, Firm Decisions, Indirect Inference

15.

Asset Prices and Business Cycles with Costly External Finance

Downloads 353 (178,077)
Citation 23

Asset Prices and Business Cycles with Costly External Finance

Simon School of Business Working Paper No. FR 02-18
Number of pages: 34 Posted: 28 Dec 2002
Joao F. Gomes, Amir Yaron, Amir Yaron and Lu Zhang
The Wharton School, Bank of IsraelUniversity of Pennsylvania -- Wharton School of Business and Ohio State University - Fisher College of Business
Downloads 261 (243,171)

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Costly External Finance, Business Cycles, Default Premium

Asset Prices and Business Cycles with Costly External Finance

NBER Working Paper No. w9364
Number of pages: 34 Posted: 06 Dec 2002 Last Revised: 04 Aug 2022
Joao F. Gomes, Amir Yaron, Amir Yaron and Lu Zhang
The Wharton School, Bank of IsraelUniversity of Pennsylvania -- Wharton School of Business and Ohio State University - Fisher College of Business
Downloads 70 (697,060)
Citation 15

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Asset Prices and Business Cycles with Costly External Finance

Number of pages: 36 Posted: 06 Aug 2003
Joao F. Gomes, Amir Yaron, Amir Yaron and Lu Zhang
The Wharton School, Bank of IsraelUniversity of Pennsylvania -- Wharton School of Business and Ohio State University - Fisher College of Business
Downloads 22 (1,107,255)
Citation 8
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Financial accelerator, business cycles, asset prices

16.

Leverage Risk and Investment: The Case of Gold Clauses in the 1930s

Number of pages: 50 Posted: 19 Mar 2019 Last Revised: 02 Feb 2020
Joao F. Gomes, Mete Kilic and Sebastien Plante
The Wharton School, University of Southern California - Marshall School of Business and University of Wisconsin-Madison
Downloads 344 (183,166)
Citation 1

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Great Depression, investment, debt overhang, indexed bonds, leverage risk

17.

Sticky Leverage

The Wharton School Research Paper No. 52
Number of pages: 44 Posted: 29 May 2013 Last Revised: 11 May 2016
Joao F. Gomes, Urban J. Jermann and Lukas Schmid
The Wharton School, University of Pennsylvania - Finance Department and University of Southern California - Marshall School of Business
Downloads 304 (209,168)
Citation 93

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Debt deflation, debt overhang, monetary non-neutrality

18.

Equilibrium Asset Pricing with Leverage and Default

The Wharton School Research Paper No. 92, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper, Journal of Finance, Forthcoming
Number of pages: 59 Posted: 10 May 2016 Last Revised: 03 Dec 2020
Joao F. Gomes and Lukas Schmid
The Wharton School and University of Southern California - Marshall School of Business
Downloads 269 (237,352)
Citation 11

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19.

Learning-by-Doing as a Propagation Mechanism

Downloads 167 (372,138)
Citation 12

Learning-by-Doing as a Propagation Mechanism

Number of pages: 46 Posted: 27 Jul 2001
Yongsung Chang, Joao F. Gomes and Frank Schorfheide
University of Rochester - Department of Economics, The Wharton School and University of Pennsylvania - Department of Economics
Downloads 140 (431,508)
Citation 2

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Business-Cycle Fluctuations, Econometric Model Evaluation, Learning-by-Doing, Propagation of Shocks

Learning-by-Doing as a Propagation Mechanism

Number of pages: 60 Posted: 22 Nov 2002
Yongsung Chang, Joao F. Gomes and Frank Schorfheide
University of Rochester - Department of Economics, The Wharton School and University of Pennsylvania - Department of Economics
Downloads 27 (1,045,247)
Citation 10
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Learning by doing, business cycles, propagation, labour supply

20.

Oligopoly Dynamics With Financial Frictions

Number of pages: 83 Posted: 22 Nov 2022
Ulrich Doraszelski, Joao F. Gomes and Felix Nockher
University of Pennsylvania - The Wharton School, The Wharton School and University of Pennsylvania - The Wharton School
Downloads 161 (383,993)

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Price and investment competition, financial frictions, industry dynamics

21.

Equilibrium Unemployment

NBER Working Paper No. w5922
Number of pages: 44 Posted: 18 Aug 2000 Last Revised: 09 Mar 2022
Joao F. Gomes, Jeremy Greenwood and Sergio T. Rebelo
The Wharton School, University of Pennsylvania - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 77 (651,155)
Citation 10

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22.

Dynamic Strategic Corporate Finance: A Tug of War with Financial Frictions

Downloads 41 (877,884)

Dynamic Strategic Corporate Finance: A Tug of War with Financial Frictions

NBER Working Paper No. w29310
Number of pages: 47 Posted: 27 Sep 2021 Last Revised: 16 Apr 2023
Ulrich Doraszelski, Joao F. Gomes and Felix Nockher
University of Pennsylvania - The Wharton School, The Wharton School and University of Pennsylvania - The Wharton School
Downloads 28 (1,033,222)

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Dynamic Strategic Corporate Finance: A Tug of War with Financial Frictions

CEPR Discussion Paper No. DP16567
Number of pages: 73 Posted: 22 Sep 2021 Last Revised: 09 Nov 2021
Ulrich Doraszelski, Joao F. Gomes and Felix Nockher
University of Pennsylvania - The Wharton School, The Wharton School and University of Pennsylvania - The Wharton School
Downloads 13 (1,230,604)
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Financial Frictions, industry dynamics, Price and investment competition

23.

The Performance of Optimally Diversified Firms: Reconciling Theory and Evidence

Number of pages: 32 Posted: 23 Oct 2002
Joao F. Gomes and Dmitry Livdan
The Wharton School and University of California, Berkeley
Downloads 25 (1,038,197)
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firm diversification, Tobin's Q, diversification discount, total factor productivity