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

  • Drexel University - Department of Finance

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    • Tel: (215) 895-2304
SCHOLARLY PAPERS

37

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557

CROSSREF CITATIONS

137

Scholarly Papers (37)

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1.

Are Busy Boards Effective Monitors?

Downloads 2,348 (10,894)

Are Busy Boards Effective Monitors?

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 2,348 (10,712)
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 1,585 (20,256)
Citation 14

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

3.

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 1,264 (28,450)
Citation 2

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

4.

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 1,204 (30,604)
Citation 116

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

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 1,175 (31,616)
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 1,067 (36,281)
Citation 11

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

7.

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 870 (48,222)
Citation 6

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Golden Parachutes, Acquisitions, Moral Hazard, Reservation Premium

8.

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 863 (48,771)
Citation 37

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

9.

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 836 (50,977)
Citation 12

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

10.

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 755 (58,460)
Citation 1

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

11.

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 673 (67,974)
Citation 45

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Monitoring, Institutional investors, Mergers and acquisitions, Takeover premiums

12.

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 585 (81,159)
Citation 13

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

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 576 (82,591)
Citation 6

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

14.

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 567 (84,274)
Citation 2

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

15.

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 533 (91,062)
Citation 3

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Advertising; Mergers and acquisitions; Information transmission, Behavioral bias

16.

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 521 (93,683)
Citation 3

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Corporate Tax Deduction; Acquisitions; Firm Performance; Financial Constraints

17.

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 487 (101,677)
Citation 24

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

18.

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 455 (110,230)
Citation 9

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

19.

Institutional Trading Around M&A Announcements

Number of pages: 61 Posted: 20 Dec 2018 Last Revised: 08 Aug 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 442 (114,026)

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M&A, Mutual Funds, Hedge Funds, Performance

20.

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 421 (121,759)
Citation 2

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

21.

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 407 (125,529)
Citation 1

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

22.

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: 14 Nov 2023
Eliezer M. Fich and Guosong Xu
Drexel University - Department of Finance and Rotterdam School of Management, Erasmus University
Downloads 395 (129,942)
Citation 2

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Shareholder voting; Hurricanes; Risk perception; Salience; Behavioral bias

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 388 (132,553)
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 380 (135,715)
Citation 2

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Acquisitions; Agency Costs; Analyst Coverage; Natural Experiments

25.

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 377 (138,095)
Citation 1

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Mergers, Acquisitions, Corporate regulation

26.

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 269 (195,711)
Citation 1

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supply chain, synergies, acquisitions, value creation, bargaining

27.

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 240 (219,058)
Citation 4

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Acquisitions, CEO retention, Managerial quality

28.

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 238 (220,824)

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

29.

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 191 (270,953)
Citation 2

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

30.

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, Iowa State University and Loyola Marymount University - Department of Finance
Downloads 155 (324,443)
Citation 1

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

31.

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: 59 Posted: 15 Dec 2021 Last Revised: 17 Sep 2023
Eliezer M. Fich and Guosong Xu
Drexel University - Department of Finance and Rotterdam School of Management, Erasmus University
Downloads 120 (395,953)

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ESG, Political Donations, Environmental Cost-Cutting, Environmental Laws

32.

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 43 (701,667)

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Advertising; Mergers and acquisitions; Information transmission, Behavioral bias

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 40 (721,828)

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34.

Interlocked Monitors: How Do Independent Directors Evaluate CEOs?

Posted: 30 Oct 2023
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

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

35.

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

36.

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

37.

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: 85
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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 85

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Corporate Philanthropy, Agency Costs, Shareholder Wealth