Eliezer M. Fich

Drexel University - Department of Finance

Professor of Finance

LeBow College of Business

3220 Market Street – 11th Floor

Philadelphia, PA 19104

http://https://sites.google.com/view/eliezerfich

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

  • Drexel University - Department of Finance

    • Email
    • Tel: (215) 895-2304
SCHOLARLY PAPERS

40

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23,733

TOTAL CITATIONS
Rank 2,181

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Top 2,181

in Total Papers Citations

597

Scholarly Papers (40)

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1.

Are Busy Boards Effective Monitors?

Downloads 2,525 (12,023)
Citation 202

Are Busy Boards Effective Monitors?

ECGI - Finance Working Paper No. 55/2004; AFA 2005 Philadelphia Meetings
Number of pages: 50 Posted: 22 Oct 2004
Eliezer M. Fich and Anil Shivdasani
Drexel University - Department of Finance and University of North Carolina Kenan-Flagler Business School
Downloads 2,525 (11,837)
Citation 202

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Directorships, Board of directors, Corporate governance, Firm performance

Are Busy Boards Effective Monitors?

Posted: 30 Mar 2005
Eliezer M. Fich and Anil Shivdasani
Drexel University - Department of Finance and University of North Carolina Kenan-Flagler Business School

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Directorships, Board of directors, Corporate governance, Firm performance

2.

Why Do CEOS Reciprocally Sit on Each Other's Boards?

Number of pages: 40 Posted: 15 Dec 2000
Eliezer M. Fich, Lawrence J. White and Lawrence J. White
Drexel University - Department of Finance and New York University (NYU) - Leonard N. Stern School of Business, Department of EconomicsStern School of Business, New York University
Downloads 1,665 (23,331)
Citation 16

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Interlocking directorates, CEOs, Board of directors, Corporate governance; Stock options

3.

Financial Fraud, Director Reputation, and Shareholder Wealth

AFA 2006 Boston Meetings Paper
Number of pages: 43 Posted: 24 Mar 2005
Eliezer M. Fich and Anil Shivdasani
Drexel University - Department of Finance and University of North Carolina Kenan-Flagler Business School
Downloads 1,325 (32,837)
Citation 155

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Director reputation, Financial fraud, Interlocking directorships, Class action lawsuits

4.

Expanding the Limits of Merger Arbitrage

University of North Carolina Working Paper
Number of pages: 51 Posted: 19 Jun 2003
Eliezer M. Fich and Irina Stefanescu
Drexel University - Department of Finance and Board of Governors of the Federal Reserve System
Downloads 1,317 (33,127)
Citation 2

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Risk arbitrage, S&P 500 Index, Price Pressure Hypothesis

5.

Large Wealth Creation in Mergers and Acquisitions

AFA 2013 San Diego Meetings Paper
Number of pages: 63 Posted: 13 Mar 2012 Last Revised: 08 Nov 2017
Eliezer M. Fich, Tu Nguyen and Micah S. Officer
Drexel University - Department of Finance, University of Waterloo - School of Accounting and Finance and Loyola Marymount University - Department of Finance
Downloads 1,226 (36,728)
Citation 2

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Mergers and acquisitions; wealth creation; financial reporting irregularities

6.

The Impact of Stock-Option Compensation for Outside Directors on Firm Value

Number of pages: 39 Posted: 02 Feb 2004
Eliezer M. Fich and Anil Shivdasani
Drexel University - Department of Finance and University of North Carolina Kenan-Flagler Business School
Downloads 1,094 (43,456)
Citation 14

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Compensation, board of directors, incentives, stock options, financial performance, outside directors

7.

The effect of Innovation Similarity on Asset Prices: Evidence from Patents’ Big Data

Forthcoming, The Review of Asset Pricing Studies
Number of pages: 68 Posted: 28 Mar 2018 Last Revised: 19 May 2022
Ron Bekkerman, Eliezer M. Fich and Natalya V. Khimich
Cherre Inc, Drexel University - Department of Finance and Drexel University
Downloads 963 (51,950)
Citation 2

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Big Data; Textual analysis; Patents; Innovation similarity; Investor attention; Return predictability; Technological diversification

8.

Shareholder Litigation Risk and the Information Environment: Revisiting Evidence from Two Natural Experiments

Journal of Corporate Finance, Forthcoming
Number of pages: 51 Posted: 29 Jan 2018 Last Revised: 17 Sep 2023
Audra L. Boone, Eliezer M. Fich and Thomas P. Griffin
Texas Christian University - M.J. Neeley School of Business, Drexel University - Department of Finance and Villanova University - Department of Finance & Real Estate
Downloads 913 (55,929)
Citation 12

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Information Environment, Disclosure, Shareholder Litigation, Silicon Graphics Inc. Ruling, Universal Demand Laws

9.

On the Importance of Golden Parachutes

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 55 Posted: 25 Jun 2009 Last Revised: 23 Jul 2015
Eliezer M. Fich, Anh L. Tran and Ralph A. Walkling
Drexel University - Department of Finance, Bayes Business School (formerly Cass Business School), City University of London and Drexel University - Lebow College of Business
Downloads 910 (56,171)
Citation 6

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Golden Parachutes, Acquisitions, Moral Hazard, Reservation Premium

10.

Are Some Outside Directors Better than Others? Evidence from Director Appointments by Fortune 1000 Firms

Number of pages: 43 Posted: 31 Jan 2004
Eliezer M. Fich
Drexel University - Department of Finance
Downloads 892 (57,709)
Citation 43

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Outside directors, event-study, Fortune 1000, growth opportunities

11.

Regulatory Burden and M&A Activity

Number of pages: 45 Posted: 06 Jan 2022 Last Revised: 30 Sep 2023
Eliezer M. Fich, Thomas P. Griffin and Joseph Kalmenovitz
Drexel University - Department of Finance, Villanova University - Department of Finance & Real Estate and University of Rochester - Simon Business School
Downloads 773 (70,029)
Citation 4

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Mergers, Acquisitions, Corporate regulation

12.

Motivated Monitors: The Importance of Institutional Investors’ Portfolio Weights

Journal of Financial Economics (JFE), 2015, Forthcoming
Number of pages: 62 Posted: 09 Jul 2014 Last Revised: 16 Feb 2015
Eliezer M. Fich, Jarrad Harford and Anh L. Tran
Drexel University - Department of Finance, University of Washington and Bayes Business School (formerly Cass Business School), City University of London
Downloads 752 (72,670)
Citation 45

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Monitoring, Institutional investors, Mergers and acquisitions, Takeover premiums

13.

Disloyal Managers and Shareholders’ Wealth

Number of pages: 59 Posted: 11 Jun 2021
Eliezer M. Fich, Jarrad Harford and Anh L. Tran
Drexel University - Department of Finance, University of Washington and Bayes Business School (formerly Cass Business School), City University of London
Downloads 748 (73,181)
Citation 9

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Corporate opportunities waiver; Innovation; Marginal value of cash; Acquisitions; Firm value

14.

Target Firm Advertising and Firm Value

Number of pages: 48 Posted: 19 Nov 2014 Last Revised: 24 May 2022
Eliezer M. Fich, Laura T. Starks and Anh L. Tran
Drexel University - Department of Finance, University of Texas at Austin - Department of Finance and Bayes Business School (formerly Cass Business School), City University of London
Downloads 652 (87,237)
Citation 3

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Advertising; Mergers and acquisitions; Information transmission, Behavioral bias

15.

Corporate Tax Cuts, Merger Activity, and Shareholder Wealth

Forthcoming: Journal of Accounting and Economics
Number of pages: 59 Posted: 16 Mar 2017 Last Revised: 25 Mar 2020
Jennifer Blouin, Eliezer M. Fich, Edward M. Rice and Anh L. Tran
University of Pennsylvania - Accounting Department, Drexel University - Department of Finance, University of Washington - Michael G. Foster School of Business and Bayes Business School (formerly Cass Business School), City University of London
Downloads 639 (89,728)
Citation 3

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Corporate Tax Deduction; Acquisitions; Firm Performance; Financial Constraints

16.

CEO Deal-Making Activities and Compensation

AFA 2009 San Francisco Meetings Paper, Journal of Financial Economics (JFE), Forthcoming
Number of pages: 55 Posted: 24 Mar 2008 Last Revised: 24 Dec 2013
Eliezer M. Fich, Laura T. Starks and Adam S. Yore
Drexel University - Department of Finance, University of Texas at Austin - Department of Finance and University of Missouri at Columbia - Department of Finance
Downloads 632 (90,844)
Citation 13

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Executive Pay, Agency Problems, Joint Ventures, SEOs, Spinoffs, Strategic Alliances

17.

The Effect of Takeover Protection in Quiet Life and Bonding Firms

Number of pages: 57 Posted: 16 Mar 2016 Last Revised: 15 Feb 2022
Eliezer M. Fich, Jarrad Harford and Adam S. Yore
Drexel University - Department of Finance, University of Washington and University of Missouri at Columbia - Department of Finance
Downloads 627 (91,722)

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Business combination laws; Poison pills; Quiet life; Bonding hypothesis; Cash value

18.

Do salient climatic risks affect shareholder voting?

Proceedings of Paris December 2021 Finance Meeting EUROFIDAI - ESSEC
Number of pages: 50 Posted: 02 Aug 2021 Last Revised: 07 Jan 2025
Eliezer M. Fich and Guosong Xu
Drexel University - Department of Finance and Rotterdam School of Management, Erasmus University
Downloads 591 (98,898)
Citation 1

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Shareholder voting, Hurricanes, Risk perception, Salience

19.

Institutional Trading Around M&A Announcements *

Forthcoming: Financial Management
Number of pages: 69 Posted: 20 Dec 2018 Last Revised: 23 Jul 2024
Eliezer M. Fich, Viktoriya Lantushenko and Clemens Sialm
Drexel University - Department of Finance, Saint Joseph's University and University of Texas at Austin - McCombs School of Business
Downloads 583 (100,675)

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Mergers and Acquisitions, Investment strategies, Hedge funds, Mutual funds, SEC download activity. JEL Codes: G11, G23, G34

20.

Are Outside Directors with Greater Board Tenure Valuable? Evidence from the Last Credit Crisis

Number of pages: 39 Posted: 25 May 2009 Last Revised: 05 Apr 2016
Nuno Fernandes and Eliezer M. Fich
University of Navarra, IESE Business School and Drexel University - Department of Finance
Downloads 539 (111,087)
Citation 25

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Financial expertise, Credit crisis, Bank returns, Moral hazard, Bailouts

21.

When and How Are Rule 10b5-1 Plans Used for Insider Stock Sales?

Number of pages: 54 Posted: 17 Mar 2015 Last Revised: 04 Mar 2021
Eliezer M. Fich, Robert Parrino and Anh L. Tran
Drexel University - Department of Finance, University of Texas at Austin - Department of Finance and Bayes Business School (formerly Cass Business School), City University of London
Downloads 510 (118,897)
Citation 7

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CEO stock sales, 10b5-1 plan, insider trading, governance

22.

Contractual Revisions in Compensation: Evidence from Merger Bonuses to Target CEOs

Journal of Accounting & Economics (JAE), Vol. 61, 2016, Forthcoming
Number of pages: 63 Posted: 02 Sep 2012 Last Revised: 17 Dec 2015
Eliezer M. Fich, Edward M. Rice and Anh L. Tran
Drexel University - Department of Finance, University of Washington - Michael G. Foster School of Business and Bayes Business School (formerly Cass Business School), City University of London
Downloads 493 (123,801)
Citation 13

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Merger bonus; Acquisitions; Synergies; Wealth transfer; Abnormal accruals; SEC enforcement actions

23.

Assimilation Effects in Financial Markets

Journal of Financial and Quantitative Analysis, Forthcoming
Number of pages: 62 Posted: 06 Jul 2017 Last Revised: 19 May 2022
Eliezer M. Fich and Guosong Xu
Drexel University - Department of Finance and Rotterdam School of Management, Erasmus University
Downloads 481 (127,556)
Citation 3

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Assimilation effects; Earnings surprises; Mergers and Acquisitions; IPOs; Salience

24.

Analyst Coverage and Acquisition Returns: Evidence from Natural Experiments

Number of pages: 58 Posted: 18 Apr 2017 Last Revised: 31 Jul 2018
Eliezer M. Fich, Jennifer L. Juergens and Micah S. Officer
Drexel University - Department of Finance, Cornerstone Research, Inc. and Loyola Marymount University - Department of Finance
Downloads 481 (127,556)
Citation 3

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Acquisitions; Agency Costs; Analyst Coverage; Natural Experiments

25.

Uncertainty and Corporate Innovation: Evidence from Terrorist Attacks

Number of pages: 46 Posted: 12 Jun 2019 Last Revised: 14 Aug 2020
Eliezer M. Fich, Tung Nguyen and Dimitris Petmezas
Drexel University - Department of Finance, Alliance Manchester Business School and Durham University Business School
Downloads 471 (130,819)
Citation 1

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Uncertainty; Terrorism; Corporate Innovation; Patents; Citations; Inventor Productivity; Inventor Mobility; Employee Safety

26.

Class Action Spillover Effects on Joint Venture Partners

Number of pages: 64 Posted: 23 Feb 2018 Last Revised: 04 May 2021
Eliezer M. Fich, Rachel Gordon and Adam S. Yore
Drexel University - Department of Finance, Towson University and University of Missouri at Columbia - Department of Finance
Downloads 332 (194,457)

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Securities Class Action lawsuits, Joint ventures; Spillover effects; Auditors; Analysts; Blockholders

27.

The Value of CEOs' Supply Chain Experience: Evidence from Mergers and Acquisitions

Number of pages: 45 Posted: 17 Mar 2012 Last Revised: 16 Feb 2018
Eliezer M. Fich and Tu Nguyen
Drexel University - Department of Finance and University of Waterloo - School of Accounting and Finance
Downloads 321 (201,631)
Citation 1

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supply chain, synergies, acquisitions, value creation, bargaining

28.

Involuntarily green? Corporate donations to politicians and their votes on environmental legislation

Proceedings of the EUROFIDAI-ESSEC Paris December Finance Meeting 2022
Number of pages: 58 Posted: 15 Dec 2021 Last Revised: 17 Sep 2024
Eliezer M. Fich and Guosong Xu
Drexel University - Department of Finance and Rotterdam School of Management, Erasmus University
Downloads 290 (224,756)

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Political Donations, Environmental Cost-Cutting, Environmental Laws, Regulatory Capture

29.

Do Acquirers Benefit from Retaining Target CEOs?

Number of pages: 53 Posted: 10 Feb 2016
Eliezer M. Fich, Micah S. Officer and Anh L. Tran
Drexel University - Department of Finance, Loyola Marymount University - Department of Finance and Bayes Business School (formerly Cass Business School), City University of London
Downloads 280 (233,080)
Citation 4

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Acquisitions, CEO retention, Managerial quality

30.

The Effects of Terrorist Attacks on Inventor Productivity and Mobility

Research Policy, Forthcoming
Number of pages: 45 Posted: 08 Feb 2021 Last Revised: 06 Oct 2022
Eliezer M. Fich, Tung Nguyen and Dimitris Petmezas
Drexel University - Department of Finance, Alliance Manchester Business School and Durham University Business School
Downloads 235 (277,895)
Citation 6

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Terrorism, Inventions, Patents, Citations, Inventor Productivity, Inventor Mobility

31.

How Do Equity Analysts Impact Takeovers?

Number of pages: 45 Posted: 15 Apr 2020
Eliezer M. Fich, Tingting Liu and Micah S. Officer
Drexel University - Department of Finance, The University of Tennessee, Knoxville and Loyola Marymount University - Department of Finance
Downloads 200 (324,006)
Citation 1

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Mergers and acquisitions; Private merger negotiations; Analyst coverage; Analyst price forecasts

32.

Do Corporate Policies Spread Through Executive Compensation Peers? Evidence from Share Repurchases

2022 Asian Finance Association Conference, 2022 FMA(US) conference, 2023 Midwest Finance Association annual meeting
Number of pages: 72 Posted: 22 Sep 2022 Last Revised: 02 Jul 2024
Yuyuan Chang, Eliezer M. Fich, David M. Reeb, Yao Shen and Jing Xie
South China University of Technology, Drexel University - Department of Finance, National University of Singapore - Dept of Accounting, City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance and University of Macau, Faculty of Business Administration, Department of Finance and Business Economics
Downloads 106 (547,477)

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CEO compensation, Compensation benchmarking, Share repurchases, Peer effects JEL classification: G35, M12

33.

Institutional Trading Around M&A Announcements

NBER Working Paper No. w25814
Number of pages: 54 Posted: 07 May 2019 Last Revised: 15 Jul 2023
Eliezer M. Fich, Viktoriya Lantushenko and Clemens Sialm
Drexel University - Department of Finance, Saint Joseph's University and University of Texas at Austin - McCombs School of Business
Downloads 68 (717,304)

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34.

Internet Appendix for: Target Firm Advertising and Firm Value

Number of pages: 16 Posted: 03 Jan 2019 Last Revised: 24 May 2022
Eliezer M. Fich, Laura T. Starks and Anh L. Tran
Drexel University - Department of Finance, University of Texas at Austin - Department of Finance and Bayes Business School (formerly Cass Business School), City University of London
Downloads 63 (746,666)

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Advertising; Mergers and acquisitions; Information transmission, Behavioral bias

35.

Bias at the Top: How Interlocked Boards Shape CEO Evaluations Through Cognitive Shortcuts

Number of pages: 67 Posted: 30 Oct 2023 Last Revised: 24 Jan 2025
Jason (Pang-Li) Chen, Ran Duchin and Eliezer M. Fich
Harbert College of Business, Auburn University, Boston College - Carroll School of Management and Drexel University - Department of Finance
Downloads 36 (960,692)

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Corporate governance, Boards, Independent directors, Firm performance, Interlocking directorates, Availability bias

36.

The Real Effects of Interest Limitation Rules: Evidence from M&A Investments

Posted: 09 Jan 2025
Eliezer M. Fich, Lisa Hillmann, Johanna Kling and Barbara Stage
Drexel University - Department of Finance, WHU - Otto Beisheim School of Management, WHU - Otto Beisheim School of Management and WHU - Otto Beisheim School of Management

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Interest limitation rules, Real Effects, Tax avoidance, Debt financing, Mergers and Acquisitions

37.

How Does Financial Reporting Affect the Market for Corporate Control?

Posted: 15 Apr 2024
Eliezer M. Fich, Torin McFarland and Paolo F. Volpin
Drexel University - Department of Finance, Drexel University - Department of Finance and Drexel University - Bennett S. LeBow College of Business

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Non-accelerated filers, Smaller reporting companies, Merger activity, Adverse selection, takeover premiums

38.

Racial Diversity and Inclusion Without Equity? Evidence from Executive Compensation

Posted: 06 Sep 2023 Last Revised: 04 Oct 2023
Felipe Cabezon, Eliezer M. Fich and Lubomir P. Litov
Virginia Tech - Pamplin College of Business, Drexel University - Department of Finance and University of Oklahoma - Michael F. Price College of Business

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Race; Ethnicity; Diversity, equity, and inclusion; DEI; Executive Compensation; CEO Pay Ratio

39.

Stock Option Grants to Target CEOs during Private Merger Negotiations

Journal of Financial Economics (JFE), Forthcoming
Posted: 22 Apr 2009 Last Revised: 30 Dec 2010
Eliezer M. Fich, Jie Cai and Anh L. Tran
Drexel University - Department of Finance, Drexel University and Bayes Business School (formerly Cass Business School), City University of London

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Merger negotiations, Stock options, Takeover premium

40.

CEO Compensation and Turnover: The Effects of Mutually Interlocked Boards

Posted: 09 Jun 2005
Eliezer M. Fich, Lawrence J. White and Lawrence J. White
Drexel University - Department of Finance and New York University (NYU) - Leonard N. Stern School of Business, Department of EconomicsStern School of Business, New York University

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Interlocks, CEO Compensation, CEO Turnover

Other Papers (1)

Total Downloads: 140
Actions:
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1.

Corporate Philanthropy, Agency Problems, and Shareholder Wealth

Number of pages: 38 Posted: 22 Mar 2009 Last Revised: 18 Mar 2010
Eliezer M. Fich, Diego Garcia, Timothy C. Robinson and Adam S. Yore
Drexel University - Department of Finance, University of Colorado at Boulder - Leeds School of Business, University of North Carolina (UNC) at Chapel Hill and University of Missouri at Columbia - Department of Finance
Downloads 140

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Corporate Philanthropy, Agency Costs, Shareholder Wealth