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
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Top 12,635

in Total Papers Downloads

7,442

SSRN CITATIONS
Rank 24,285

SSRN RANKINGS

Top 24,285

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 1,316 (30,061)
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 1,314 (30,123)
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 1,314 (29,619)
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 882 (52,981)
Citation 4

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 406 (139,062)
Citation 3

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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 306 (189,825)
Citation 3

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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 170 (335,351)
Citation 3

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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 678 (75,123)
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 538 (100,554)

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 538 (99,361)
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 489 (112,850)
Citation 8

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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 452 (123,933)
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 447 (125,555)
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 393 (145,693)

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10.

Vanishing Stock Dividends

Number of pages: 50 Posted: 27 Jan 2016 Last Revised: 06 Jul 2021
Avner Kalay and Feng Zhang
Tel Aviv University - Faculty of Management and Southern Methodist University (SMU) - Finance Department
Downloads 287 (204,391)

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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 230 (255,800)
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 190 (303,948)
Citation 9

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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 117 (451,989)

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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, Mor M. Haziza and Avner Kalay
Indiana UniversityTel Aviv University - The Leon Recanati Graduate School of Business Administration and Tel Aviv University - Faculty of Management
Downloads 109 (476,387)
Citation 1

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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 - Naveen Jindal School of Management

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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 The University of Hong Kong

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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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