Avner Kalay

Tel Aviv University - Faculty of Management

Professor

P.O. Box 39010

Ramat Aviv, Tel Aviv, 69978

Israel

University of Utah - David Eccles School of Business

Professor

1645 E Campus Center Dr

Salt Lake City, UT 84112-9303

United States

  • Tel Aviv University - Faculty of Management

    • Email
    • Tel: 972 3 6406298
    • Fax: 972 3 6406330

  • University of Utah - David Eccles School of Business

    • Email
    • Tel: 801-581-5457
SCHOLARLY PAPERS

20

DOWNLOADS
Rank 8,268

SSRN RANKINGS

Top 8,268

in Total Papers Downloads

6,315

SSRN CITATIONS
Rank 19,180

SSRN RANKINGS

Top 19,180

in Total Papers Citations

17

CROSSREF CITATIONS

35

Scholarly Papers (20)

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1.

The Market Value of Corporate Votes: Theory and Evidence from Option Prices

Journal of Finance (JF), Volume 69, Issue 3, pp. 1235-1271, 2014
Number of pages: 68 Posted: 26 Jan 2011 Last Revised: 03 Jun 2016
Avner Kalay, Oğuzhan Karakaş and Shagun Pant
Tel Aviv University - Faculty of Management, Cambridge Judge Business School - Finance Subject Group and University of Iowa - Department of Finance
Downloads 1,160 (20,509)
Citation 4

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Voting Rights, Put-Call Parity, Options, Shareholder Meetings, Hedge Funds, Activism, Mergers & Acquisitions

2.

Ex-Dividend Arbitrage in Option Markets

Downloads 1,086 ( 22,646)
Citation 3

Ex-Dividend Arbitrage in Option Markets

Number of pages: 51 Posted: 02 Nov 2006
Jia Hao, Avner Kalay and Stewart Mayhew
Babson College, Tel Aviv University - Faculty of Management and Cornerstone Research
Downloads 1,086 (22,249)
Citation 3

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Arbitrage, option market, Ex-dividend

Ex-Dividend Arbitrage in Option Markets

The Review of Financial Studies, Vol. 23, Issue 1, pp. 271-303, 2009
Posted: 25 Jan 2010
Jia Hao, Avner Kalay and Stewart Mayhew
Babson College, Tel Aviv University - Faculty of Management and Cornerstone Research

Abstract:

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G13, G14, G18

3.

Time Varying Voting Rights and the Private Benefits of Control

Downloads 771 ( 36,772)
Citation 2

Time Varying Voting Rights and the Private Benefits of Control

EFA 2008 Athens Meetings Paper
Number of pages: 58 Posted: 06 Mar 2008 Last Revised: 21 Feb 2010
Avner Kalay and Shagun Pant
Tel Aviv University - Faculty of Management and University of Iowa - Department of Finance
Downloads 378 (89,637)
Citation 1

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corporate governance, regulation, security voting structure, control contests, derivatives

Time Varying Voting Rights and the Private Benefits of Control

AFA 2010 Atlanta Meetings Paper
Number of pages: 58 Posted: 25 Mar 2008 Last Revised: 23 Feb 2010
Avner Kalay and Shagun Pant
Tel Aviv University - Faculty of Management and University of Iowa - Department of Finance
Downloads 284 (123,160)
Citation 1

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security voting structure, control contests, derivatives

Time Varying Voting Rights and the Private Benefits of Control

Number of pages: 58 Posted: 22 Feb 2010
Avner Kalay and Shagun Pant
Tel Aviv University - Faculty of Management and University of Iowa - Department of Finance
Downloads 109 (287,451)
Citation 2

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4.

Detecting Liquidity Traders

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 50 Posted: 02 Mar 2002 Last Revised: 14 Dec 2008
Avner Kalay and Avi Wohl
Tel Aviv University - Faculty of Management and Tel Aviv University - Coller School of Management
Downloads 626 (48,643)
Citation 1

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liquidity traders, liquidity, transparency, return predictability, commonality of liquidity, contagion, elasticity, liquidity

5.

Measuring Stock Illiquidity: An Investigation of the Demand and Supply Schedules at the Tase

Downloads 467 ( 70,394)

Measuring Stock Illiquidity: An Investigation of the Demand and Supply Schedules at the Tase

Number of pages: 49 Posted: 07 Aug 2003
Avner Kalay, Orly Sade and Avi Wohl
Tel Aviv University - Faculty of Management, Hebrew University of Jerusalem - Department of Finance and Tel Aviv University - Coller School of Management
Downloads 467 (69,712)
Citation 8

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Measuring Stock Illiquidity: An Investigation of the Demand and Supply Schedules at the TASE

Posted: 17 Feb 2005
Avner Kalay, Orly Sade and Avi Wohl
Tel Aviv University - Faculty of Management, Hebrew University of Jerusalem - Department of Finance and Tel Aviv University - Coller School of Management

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6.

Is Chapter 11 Costly?

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 40 Posted: 15 Jan 2007
Avner Kalay, Rajeev Singhal and Elizabeth Tashjian
Tel Aviv University - Faculty of Management, Oakland University and University of Utah - Department of Finance
Downloads 434 (76,902)

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indirect bankruptcy costs, Chapter 11, bankruptcy

7.

The Market Value of the Vote: A Contingent Claims Approach

Number of pages: 50 Posted: 08 Nov 2008 Last Revised: 11 Mar 2010
Avner Kalay and Shagun Pant
Tel Aviv University - Faculty of Management and University of Iowa - Department of Finance
Downloads 401 (84,365)
Citation 5

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Voting rights, Put-Call parity, Options, Vote trading

8.

Does Publication Follow Presentation? The Information Content of Presentations at Refereed Finance Conferences

Number of pages: 16 Posted: 19 Jul 2003
Steven J. Johnson, Avner Kalay and Jim Schallheim
Sam Houston State University - College of Business Administration, Tel Aviv University - Faculty of Management and University of Utah - Department of Finance
Downloads 392 (86,616)
Citation 5

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9.

Continuous Trading or Call Auctions: Revealed Preferences of Investors at Tase

Number of pages: 30 Posted: 20 Mar 2000
Avner Kalay, Li Wei and Avi Wohl
Tel Aviv University - Faculty of Management, University of Utah and Tel Aviv University - Coller School of Management
Downloads 342 (101,292)

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10.

Vanishing Stock Dividends

Number of pages: 46 Posted: 27 Jan 2016 Last Revised: 12 Nov 2020
Avner Kalay and Feng Zhang
Tel Aviv University - Faculty of Management and University of Utah - Department of Finance
Downloads 191 (182,302)

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stock dividends, investor learning, signaling

11.

Agency and Corporate Purchase of Insurance

Number of pages: 35 Posted: 21 Mar 2010 Last Revised: 15 Apr 2013
Paul Ehling, Avner Kalay and Shagun Pant
BI - Norwegian Business School, Tel Aviv University - Faculty of Management and University of Iowa - Department of Finance
Downloads 156 (217,160)
Citation 2

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private benefits of control, property insurance

12.

One Share-One Vote is Unenforceable and Sub-Optimal

Number of pages: 58 Posted: 24 Feb 2010
Avner Kalay and Shagun Pant
Tel Aviv University - Faculty of Management and University of Iowa - Department of Finance
Downloads 149 (225,513)
Citation 8

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13.

Market Learning About the Stand-Alone Value of the Acquirer

Number of pages: 55 Posted: 22 Dec 2015 Last Revised: 03 Apr 2019
Krisztina Buti and Avner Kalay
University of California at San Diego and Tel Aviv University - Faculty of Management
Downloads 73 (367,089)

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mergers and acquisitions, investment policy, market learning

14.

Broker Rebates and Investor Sophistication

Number of pages: 41 Posted: 10 Sep 2014
Mor M. Haziza and Avner Kalay
Indiana University and Tel Aviv University - Faculty of Management
Downloads 67 (384,550)

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Investor Sophistication, Financial Intermediaries, Soft dollars, Kickbacks

15.

Information Asymmetry and the Bond Coupon Choice

The Accounting Review (2018) 93 (2): 37–59.
Posted: 22 Dec 2015 Last Revised: 01 Dec 2020
Dan Amiram, Alon Kalay, Avner Kalay and N. Bugra Ozel
Tel Aviv University - Coller School of Management, Michigan State University - Eli Broad College of Business, Tel Aviv University - Faculty of Management and University of Texas at Dallas

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Bond contracting; Coupon rate; Information asymmetry; Maturity; Capital market frictions

16.

Continuous Trading or Call Auctions: Revealed Preferences of Investors at the Tel Aviv Stock Exchange

The Journal of Finance, Vol. 57, pp. 523-542, 2002
Posted: 25 Apr 2002
Avner Kalay, Li Wei and Avi Wohl
Tel Aviv University - Faculty of Management, University of Utah and Tel Aviv University - Coller School of Management

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17.

Dividends and Taxes: A Re-Examination

Financial Management, Vol. 29, No. 2, Summer 2000
Posted: 14 Jun 2001
Avner Kalay and Roni Michaely
Tel Aviv University - Faculty of Management and University of Geneva - Geneva Finance Research Institute (GFRI)

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18.

Market Making Rents Under Discrete Prices - Theory and Evidence

Posted: 06 Sep 1999
V. Ravi Anshuman and Avner Kalay
Indian Institute of Management Bangalore and Tel Aviv University - Faculty of Management

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19.

Can Splits Create Market Liquidity? Theory and Evidence

Posted: 03 Aug 1999
V. Ravi Anshuman and Avner Kalay
Indian Institute of Management Bangalore and Tel Aviv University - Faculty of Management

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20.

Bankruptcy, Warrants, and State-Contingent Changes in the Ownership of Control

Journal of Financial Intermediation, Vol. 6 No. 4
Posted: 27 Jan 1998
Jaime F. Zender and Avner Kalay
University of Colorado at Boulder - Department of Finance and Tel Aviv University - Faculty of Management

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