Art Durnev

University of Iowa - Henry B. Tippie College of Business

Assistant Professor of Finance

Acquisitions

5020 Main Library

Iowa City, IA 52242-1000

United States

http://www.artdurnev.com

SCHOLARLY PAPERS

29

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14,435

SSRN CITATIONS
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Top 1,105

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445

CROSSREF CITATIONS

593

Scholarly Papers (29)

Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence

CEPR Discussion Paper No. DP9533
Number of pages: 49 Posted: 09 Jul 2013 Last Revised: 07 Nov 2019
Boston College, Carroll School of Management, University of Iowa - Henry B. Tippie College of Business and Haskayne School of Business, University of Calgary
Downloads 1 (762,146)
Citation 9
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beta, corporate social responsibility, firm value, industry equilibrium, product differentiation, systematic risk

To Steal or Not to Steal: Firm Attributes, Legal Environment, and Valuation

Number of pages: 62 Posted: 29 Apr 2003
Art Durnev and E. Han Kim
University of Iowa - Henry B. Tippie College of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 1,386 (14,971)
Citation 30

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Corporate governance, investment opportunities, external financing

To Steal or Not to Steal: Firm Attributes, Legal Environment, and Valuation

Number of pages: 62 Posted: 26 Jul 2002
Art Durnev and E. Han Kim
University of Iowa - Henry B. Tippie College of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 1,121 (20,726)
Citation 113

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Corporate Governance, External Financing, Valuation

To Steal or Not to Steal: Firm Attributes, Legal Environment, and Valuation

Posted: 09 Apr 2004
Art Durnev and E. Han Kim
University of Iowa - Henry B. Tippie College of Business and University of Michigan, Stephen M. Ross School of Business

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Corporate Governance, Investment Opportunities, External Financing, Ownership, Legal Environment, Valuation

The Real Effects of Political Uncertainty: Elections and Investment Sensitivity to Stock Prices

Number of pages: 55 Posted: 08 Feb 2010 Last Revised: 25 Dec 2010
Art Durnev
University of Iowa - Henry B. Tippie College of Business
Downloads 1,755 (10,340)
Citation 21

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Political Uncertainty, Elections, Information Asymmetry, Capital Allocation

The Real Effects of Political Uncertainty: Elections and Investment Sensitivity to Stock Prices

Paris December 2010 Finance Meeting EUROFIDAI - AFFI
Number of pages: 55 Posted: 22 Oct 2010 Last Revised: 25 Dec 2010
Art Durnev
University of Iowa - Henry B. Tippie College of Business
Downloads 675 (42,433)
Citation 30

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political uncertainty, elections, information asymmetry, capital allocation

Expropriation Risk and Firm Growth: A Corporate Transparency Channel

Number of pages: 53 Posted: 11 Oct 2007 Last Revised: 10 May 2011
Art Durnev and Sergei Guriev
University of Iowa - Henry B. Tippie College of Business and Sciences Po
Downloads 803 (33,480)
Citation 2

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resource curse, expropriation, transparency, investment efficiency, growth

Expropriation Risk and Firm Growth: A Corporate Transparency Channel

Number of pages: 53 Posted: 29 Dec 2008 Last Revised: 11 May 2011
Art Durnev and Sergei Guriev
University of Iowa - Henry B. Tippie College of Business and Sciences Po
Downloads 255 (135,153)
Citation 3

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Resource Curse, Expropriation, Politics and Finance, Corporate Transparency and Disclosure, Investment Efficiency, Industry Growth

The Resource Curse: A Corporate Transparency Channel

CEPR Discussion Paper No. DP6547
Number of pages: 66 Posted: 06 Jun 2008
Art Durnev and Sergei Guriev
University of Iowa - Henry B. Tippie College of Business and Sciences Po
Downloads 2 (747,835)
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Autocracy, Expropriation, Industry Growth, Investment Efficiency, Oil Reserves, Property rights, Resource Curse, Transparency and Disclosure

5.

Political Uncertainty and IPO Activity: Evidence from U.S. Gubernatorial Elections

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 76 Posted: 20 Jun 2013 Last Revised: 13 Aug 2016
Gonul Colak, Art Durnev and Yiming Qian
Hanken School of Economics, University of Iowa - Henry B. Tippie College of Business and University of Connecticut
Downloads 908 (28,646)
Citation 25

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political uncertainty, initial public offerings, gubernatorial elections, IPO pricing

Does Greater Firm-Specific Return Variation Mean More or Less Informed Stock Pricing?

Number of pages: 64 Posted: 14 Jun 2001
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis, National University of Singapore - Business School and New York University (NYU) - Department of Accounting
Downloads 799 (33,714)
Citation 7

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Stock price informativeness; Functional efficiency

Does Greater Firm-Specific Return Variation Mean More or Less Informed Stock Pricing?

NYU Working Paper No. 2451/27594
Number of pages: 64 Posted: 09 Oct 2008
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis, National University of Singapore - Business School and New York University (NYU) - Department of Accounting
Downloads 98 (303,481)
Citation 22

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Does Greater Firm-Specific Return Variation Mean More or Less Informed Stock Pricing?

Posted: 17 Oct 2003
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis, National University of Singapore - Business School and New York University (NYU) - Department of Accounting

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Does Greater Firm-Specific Return Variation Mean More or Less Informed Stock Pricing?

Journal of Accounting Research 41(5)797, 2003, University of Alberta School of Business Research Paper No. 2013-614
Posted: 07 Jun 2013
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis, National University of Singapore - Business School and New York University (NYU) - Department of Accounting

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7.
Downloads 830 ( 32,506)
Citation 52

Precarious Politics and Return Volatility

Number of pages: 49 Posted: 18 Dec 2008 Last Revised: 28 Jul 2011
University of Edinburgh, University of Houston - C.T. Bauer College of Business, University of Iowa - Henry B. Tippie College of Business and Massey University
Downloads 704 (40,035)
Citation 8

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Politics, Volatility

Precarious Politics and Return Volatility

Review of Financial Studies, Forthcoming
Number of pages: 49 Posted: 27 Jul 2011
University of Edinburgh, University of Iowa - Henry B. Tippie College of Business, University of Houston - C.T. Bauer College of Business and Massey University
Downloads 126 (253,523)
Citation 12

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Stealing from Thieves: Expropriation Risk, Firm Governance, and Performance

2nd Annual Conference on Empirical Legal Studies Paper
Number of pages: 46 Posted: 15 Mar 2007 Last Revised: 14 Nov 2011
Art Durnev and Larry Fauver
University of Iowa - Henry B. Tippie College of Business and University of Tennessee, Knoxville - Department of Finance
Downloads 738 (38,111)
Citation 11

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Expropriation, Governance, Disclosure, and Valuation

Does Firm-Specific Information in Stock Prices Guide Capital Allocation?

Number of pages: 67 Posted: 11 Jan 2001
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis and National University of Singapore - Business School
Downloads 648 (44,832)
Citation 1

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Capital allocation; Capital budgeting; Corporate investment policy; External financing; Firm-specific variation; Lemons problem; Stock market efficiency; Tobin's q

Does Firm-Specific Information in Stock Prices Guide Capital Allocation?

NBER Working Paper No. w8093
Number of pages: 67 Posted: 19 Jan 2001 Last Revised: 30 Jan 2013
University of Alberta - Department of Finance and Statistical Analysis, National University of Singapore - Business School and University of Iowa - Henry B. Tippie College of Business
Downloads 46 (458,059)

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Capital Markets and Capital Allocation: Implications for Economies in Transition

Number of pages: 62 Posted: 17 Dec 2001
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis and National University of Singapore - Business School
Downloads 656 (44,076)
Citation 12

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Transition economies, capital markets, economic growth

Capital Markets and Capital Allocation: Implications for Economies in Transition

Number of pages: 42 Posted: 03 Dec 2004
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis, National University of Singapore - Business School and Independent
Downloads 14 (647,560)
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11.

The Real Effects of Disclosure Tone: Evidence from Restatements

Number of pages: 55 Posted: 31 Jul 2010 Last Revised: 09 Mar 2012
Art Durnev and Claudine Mangen
University of Iowa - Henry B. Tippie College of Business and Concordia University, Montreal - John Molson School of Business
Downloads 616 (48,583)
Citation 6

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language tone, restatements, investment

Does Insider Trading Regulation Deter Private Information Trading? International Evidence

Number of pages: 37 Posted: 15 Jan 2007
Art Durnev and Amrita Nain
University of Iowa - Henry B. Tippie College of Business and University of Iowa - Henry B. Tippie College of Business
Downloads 385 (85,853)
Citation 8

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Insider trading regulation, ownership wedge, private information trading, earnings opacity

Does Insider Trading Regulation Deter Private Information Trading? International Evidence

Pacific-Basin Finance Journal, Forthcoming
Number of pages: 37 Posted: 23 Dec 2006
Art Durnev and Amrita Nain
University of Iowa - Henry B. Tippie College of Business and University of Iowa - Henry B. Tippie College of Business
Downloads 138 (236,009)

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Insider trading regulation, Ownership wedge, Private information trading, Earnings opacity

Law, Share Price Accuracy and Economic Performance: The New Evidence

Number of pages: 70 Posted: 08 Oct 2003
Columbia University - Law School, University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis and National University of Singapore - Business School
Downloads 494 (63,620)
Citation 20

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Capital Allocation, Stock Price Informativeness, Disclosure, Regulation

Law, Share Price Accuracy and Economic Performance: The New Evidence

Posted: 08 Oct 2003
Columbia University - Law School, University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis and National University of Singapore - Business School

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Capital Allocation, Stock Price Informativeness, Disclosure, Regulation

14.
Downloads 328 (103,928)
Citation 34

Corporate Investments: Learning from Restatements

Number of pages: 53 Posted: 29 Mar 2008 Last Revised: 06 Nov 2008
Art Durnev and Claudine Mangen
University of Iowa - Henry B. Tippie College of Business and Concordia University, Montreal - John Molson School of Business
Downloads 308 (110,680)
Citation 1

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restatements, investment efficiency

Corporate Investments: Learning from Restatements

Number of pages: 55 Posted: 27 Apr 2009
Art Durnev and Claudine Mangen
University of Iowa - Henry B. Tippie College of Business and Concordia University, Montreal - John Molson School of Business
Downloads 20 (603,055)
Citation 9

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Corporate Investments: Learning from Restatements

Journal of Accounting Research, Forthcoming
Posted: 04 Nov 2008
Art Durnev and Claudine Mangen
University of Iowa - Henry B. Tippie College of Business and Concordia University, Montreal - John Molson School of Business

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restatements, accounting information, investments

Foreign Risk - Domestic Problem: Capital Allocation and Performance under Political Instability

Pace University Finance Research Paper No. 2012/07
Number of pages: 49 Posted: 11 May 2012 Last Revised: 27 Aug 2019
Pace University-Lubin School of Business, University of Iowa - Henry B. Tippie College of Business and Massey University
Downloads 186 (182,925)

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Capital Allocation, Political Risk, International Trade

Foreign Risk - Domestic Problem: Trade, Politics, and Capital Allocation

Pace University Finance Research Paper No. 2011/07
Number of pages: 43 Posted: 02 Sep 2011 Last Revised: 27 Aug 2019
University of Iowa - Henry B. Tippie College of Business, Pace University-Lubin School of Business and Massey University
Downloads 94 (311,973)

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Property Rights Protection, Corporate Transparency, and Growth

Number of pages: 55 Posted: 15 Nov 2008 Last Revised: 02 Jul 2009
University of Iowa - Henry B. Tippie College of Business, McGill University - Desautels Faculty of Management and Massey University
Downloads 167 (201,246)
Citation 1

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expropriation, transparency, investment

Property Rights Protection, Corporate Transparency, and Growth

Number of pages: 47 Posted: 25 Feb 2009
University of Iowa - Henry B. Tippie College of Business, McGill University - Desautels Faculty of Management and Massey University
Downloads 92 (316,362)
Citation 7

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Transparency, Investment Efficiency, Growth, Property Rights

Property Rights Protection, Corporate Transparency, and Growth

Journal of International Business Studies, Forthcoming
Posted: 08 Jul 2009
University of Iowa - Henry B. Tippie College of Business, McGill University - Desautels Faculty of Management and Massey University

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17.

Events and Price Adjustment Accuracy: Evidence from Post-IPO Market

Number of pages: 45 Posted: 16 Jun 2008 Last Revised: 04 Aug 2009
Pat Akey, Art Durnev and Alexander Molchanov
University of Toronto - Rotman School of Management, University of Iowa - Henry B. Tippie College of Business and Massey University
Downloads 248 (139,613)

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Events, IPO, After-market, Efficiency

18.

Politics, Instability, and Composition of International Investment Flows

Number of pages: 44 Posted: 13 Feb 2009 Last Revised: 11 Dec 2014
University of Iowa - Henry B. Tippie College of Business, Institute of Political Economy and Governance, Institute for Political Economy and Governance, Barcelona and University of Michigan Law School
Downloads 228 (151,387)
Citation 2

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international investment flows, political instability, FDI, majority-owned investment

19.

The Spillover Effects of MD&A Disclosures for Real Investment: The Role of Industry Competition

Journal of Accounting and Economics, Forthcoming
Number of pages: 77 Posted: 24 Oct 2019
Art Durnev and Claudine Mangen
University of Iowa - Henry B. Tippie College of Business and Concordia University, Montreal - John Molson School of Business
Downloads 165 (203,140)
Citation 1

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spillover effects, disclosures, competition, investment, investment efficiency

20.

Required Line of Business Reporting and Share Price Accuracy

2nd Annual Conference on Empirical Legal Studies Paper
Number of pages: 106 Posted: 09 Jul 2007 Last Revised: 30 Jan 2013
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis, Columbia University - Law School and National University of Singapore - Business School
Downloads 142 (229,913)

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law and finance, securities law

21.

The Real Effects of Managerial Narratives: Evidence from a Quarter-Billion Words

Number of pages: 50 Posted: 20 May 2012
Art Durnev and Claudine Mangen
University of Iowa - Henry B. Tippie College of Business and Concordia University, Montreal - John Molson School of Business
Downloads 137 (236,724)

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MD&A, disclosure, investment

22.

The Spillover Effects of MD&A Disclosures for Real Investment: The Role of Product Market Competition

CAAA Annual Conference 2012
Number of pages: 48 Posted: 14 Jan 2012 Last Revised: 21 Feb 2015
Art Durnev and Claudine Mangen
University of Iowa - Henry B. Tippie College of Business and Concordia University, Montreal - John Molson School of Business
Downloads 108 (282,270)

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qualitative disclosures, MD&A, investments

23.

Foreign Risk - Domestic Problem: Trade, Capital Allocation, and Performance Under Political Uncertainty

Pace University Finance Research Paper No. 2012/04
Number of pages: 46 Posted: 24 Feb 2012 Last Revised: 27 Aug 2019
Pace University-Lubin School of Business, University of Iowa - Henry B. Tippie College of Business and Massey University
Downloads 58 (406,066)

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Capital Allocation, Political Risk, International Trade

24.

The Spillover Effects of Restatement Tone for Industry Investment

Number of pages: 68 Posted: 20 Jul 2020
Art Durnev and Claudine Mangen
University of Iowa - Henry B. Tippie College of Business and Concordia University, Montreal - John Molson School of Business
Downloads 48 (445,831)

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Restatements; Tone; Spillover Effects; Industry Investment

25.

Privatization and Natural Advantage

Number of pages: 53 Posted: 09 Aug 2015 Last Revised: 11 Aug 2015
HEC Montreal, University of Iowa - Henry B. Tippie College of Business and HEC Montreal
Downloads 46 (449,678)

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Privatization, natural advantage, rent-seeking, agglomeration economies

26.

Explaining Differences in the Quality of Governance Among Companies: Evidence from Emerging Markets

Journal of Applied Corporate Finance, Vol. 19, Issue 1, pp. 16-24, Winter 2007
Number of pages: 11 Posted: 08 Feb 2008
Art Durnev and E. Han Kim
University of Iowa - Henry B. Tippie College of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 18 (596,792)
Citation 3
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27.

Beyond Tax Avoidance: Offshore Firms’ Institutional Environment and Financial Reporting Quality

Journal of Business Finance & Accounting, Vol. 44, Issue 5-6, pp. 646-696, 2017
Number of pages: 51 Posted: 05 May 2017
Art Durnev, Tiemei Li and Michel Magnan
University of Iowa - Henry B. Tippie College of Business, University of Ottawa and Concordia University - Department of Accountancy
Downloads 2 (714,886)
Citation 2
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Offshore Financial Centers, financial reporting quality, earnings management

28.

Value Enhancing Capital Budgeting & Firm-Specific Stock Returns Variation

Journal of Finance, Vol. 59, No. 1, 2004, University of Alberta School of Business Research Paper No. 2013-611
Posted: 06 Jun 2013
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis and National University of Singapore - Business School

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29.

Value Enhancing Capital Budgeting and Firm-Specific Stock Returns Variation

Posted: 17 Oct 2003
University of Iowa - Henry B. Tippie College of Business, University of Alberta - Department of Finance and Statistical Analysis and National University of Singapore - Business School

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Other Papers (2)

Total Downloads: 122
1.

Beyond Tax Avoidance: Offshore Firms’ Institutional Environment and Financial Reporting Quality

Journal of Business Finance and Accounting 44 (5-6): 646-696
Number of pages: 51 Posted: 05 Jan 2010 Last Revised: 17 May 2017
Art Durnev, TieMei Li and Michel Magnan
University of Iowa - Henry B. Tippie College of Business, University of Ottawa - School of Management and Concordia University - Department of Accountancy
Downloads 111

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Offshore Financial Centers, financial reporting quality, earnings management

2.

Are Offshore Firms Worth More?

Durnev, Li, and Magnan, Journal of Corporate Finance, Vol. 36, 2016
Number of pages: 50 Posted: 15 Mar 2012 Last Revised: 24 Nov 2017
Art Durnev, TieMei Li and Michel Magnan
University of Iowa - Henry B. Tippie College of Business, University of Ottawa - School of Management and Concordia University - Department of Accountancy
Downloads 11 (189,089)

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Offshore Financial Centers, Firm Value, Information Asymmetry, Agency costs