Evgeny Lyandres

Tel Aviv University

Ramat Aviv

Tel-Aviv, 6997801

Israel

  • Tel Aviv University

SCHOLARLY PAPERS

35

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28,326

TOTAL CITATIONS
Rank 2,476

SSRN RANKINGS

Top 2,476

in Total Papers Citations

484

Scholarly Papers (35)

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1.

ICO Success and Post-ICO Performance

Number of pages: 59 Posted: 12 Dec 2018 Last Revised: 02 Mar 2021
Evgeny Lyandres, Berardino Palazzo and Daniel Rabetti
Tel Aviv University, Board of Governors of the Federal Reserve System and National University of Singapore (NUS)
Downloads 2,549 (11,862)
Citation 33

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ICOs, data quality, performance

2.

A Theory of ICOs: Diversification, Agency, and Information Asymmetry

Management Science forthcoming
Number of pages: 36 Posted: 27 Apr 2018 Last Revised: 22 Jul 2020
Jiri Chod and Evgeny Lyandres
Boston College and Tel Aviv University
Downloads 2,376 (13,268)
Citation 125

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ICO, crypto tokens, agency, risk sharing, information asymmetry

3.

What Do Insiders Know? Evidence from Insider Trading Around Share Repurchases and SEOs

Journal of Corporate Finance, 2021, 66: 101544, 27th Annual Conference on Financial Economics and Accounting Paper, Swiss Finance Institute Research Paper No. 19-11
Number of pages: 62 Posted: 16 Feb 2016 Last Revised: 19 Apr 2021
Peter Cziraki, Evgeny Lyandres and Roni Michaely
Texas A&M University - Department of Finance, Tel Aviv University and The University of Hong Kong
Downloads 1,771 (21,219)
Citation 19

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Insider Trading, Repurchases, Seasoned Equity Offers, Market Efficiency

4.

The Size of Venture Capital and Private Equity Fund Portfolios

Journal of Corporate Finance, Vol. 13, pp. 564-590, 2007
Number of pages: 55 Posted: 22 Nov 2006 Last Revised: 12 Nov 2013
Gennaro (帅纳) Bernile, Douglas J. Cumming and Evgeny Lyandres
University of Miami - Department of Finance, Florida Atlantic University and Tel Aviv University
Downloads 1,619 (24,328)
Citation 2

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5.

Real Options, Volatility, and Stock Returns

Journal of Finance, Vol. 67, pp. 1499-1536, 2012
Number of pages: 49 Posted: 08 Mar 2008 Last Revised: 25 Mar 2013
Gustavo Grullon, Evgeny Lyandres and Alexei Zhdanov
Rice University - Jesse H. Jones Graduate School of Business, Tel Aviv University and Pennsylvania State University
Downloads 1,607 (24,577)
Citation 55

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Volatility, Risk, Stock Returns, Real Options

6.

Understanding Investor Sentiment: The Case of Soccer

Downloads 1,463 (28,354)
Citation 11

Understanding Investor Sentiment: The Case of Soccer

Financial Management, Vol. 40, pp. 357-380, 2011
Number of pages: 50 Posted: 17 Feb 2009 Last Revised: 12 Nov 2013
Gennaro (帅纳) Bernile and Evgeny Lyandres
University of Miami - Department of Finance and Tel Aviv University
Downloads 1,463 (27,866)
Citation 11

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investor sentiment, expectations, prediction markets

7.

A Theory of Merger-Driven IPOs

Downloads 1,365 (31,372)
Citation 26

A Theory of Merger-Driven IPOs

Journal of Financial and Quantitative Analysis (JFQA), Vol. 46, pp. 1367-1405, 2011
Number of pages: 64 Posted: 06 Feb 2008 Last Revised: 14 Mar 2013
Evgeny Lyandres, Alexei Zhdanov and Jim Hsieh
Tel Aviv University, Pennsylvania State University and George Mason University - Department of Finance
Downloads 1,365 (30,826)
Citation 26

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Takeovers, IPOs, Valuation Uncertainty, Real Options

8.

A Theory of Strategic Mergers

Review of Finance, Vol. 16, pp. 517-575, 2011
Number of pages: 54 Posted: 07 Mar 2008 Last Revised: 12 Nov 2013
Gennaro (帅纳) Bernile, Evgeny Lyandres and Alexei Zhdanov
University of Miami - Department of Finance, Tel Aviv University and Pennsylvania State University
Downloads 1,289 (34,164)
Citation 14

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horizontal mergers, competition, strategic interaction, real options

9.

Accelerated Investment Effect of Risky Debt

Journal of Banking and Finance, Vol. 34, pp. 2587-2599, 2010
Number of pages: 31 Posted: 18 Mar 2008 Last Revised: 13 Mar 2013
Evgeny Lyandres and Alexei Zhdanov
Tel Aviv University and Pennsylvania State University
Downloads 1,202 (37,747)
Citation 4

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accelerated investment, underinvestment, leverage, real options

10.

Trading volume manipulation and competition among centralized crypto exchanges

Number of pages: 72 Posted: 12 Jan 2021 Last Revised: 04 Jun 2024
Dan Amiram, Evgeny Lyandres and Daniel Rabetti
Tel Aviv University - Coller School of Management, Tel Aviv University and National University of Singapore (NUS)
Downloads 1,160 (39,871)
Citation 10

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Crypto exchanges, volume inflation, competition, information manipulation, regulation. JEL classification: G18, G23, L10, L13, L15

11.

The New Issues Puzzle: Testing the Investment-Based Explanation

The Review of Financial Studies, Vol. 21, Issue 6, pp. 2825-2855, 2008
Number of pages: 42 Posted: 15 Dec 2008 Last Revised: 14 Mar 2013
Evgeny Lyandres, Jerry Sun and Lu Zhang
Tel Aviv University, Invesco Advisers, Inc. and Ohio State University - Fisher College of Business
Downloads 965 (51,734)
Citation 35

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The new issues puzzle, post-issue underperformance, real investment, time-varying expected returns

12.

Trade Credit and Supplier Competition

Journal of Financial Economics (JFE), 131(2), 484-505.
Number of pages: 75 Posted: 09 Oct 2016 Last Revised: 23 Sep 2022
Jiri Chod, Evgeny Lyandres and S. Alex Yang
Boston College, Tel Aviv University and London Business School
Downloads 871 (59,569)
Citation 6

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13.

Capital Structure and Interaction Among Firms in Output Markets - Theory and Evidence

Journal of Business, Vol. 79, pp. 2381-2421, 2004
Number of pages: 51 Posted: 30 Apr 2003 Last Revised: 14 Mar 2013
Evgeny Lyandres
Tel Aviv University
Downloads 821 (64,549)
Citation 17

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Capital Structure, Output Markets, Competitive Interaction

14.

Cash Holdings, Competition, and Innovation

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 58 Posted: 12 Mar 2012 Last Revised: 02 Nov 2015
Evgeny Lyandres and Berardino Palazzo
Tel Aviv University and Board of Governors of the Federal Reserve System
Downloads 819 (64,777)
Citation 28

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15.

Labor-replacing Automation and Finance

Number of pages: 78 Posted: 03 Dec 2020 Last Revised: 26 Dec 2023
Xin Cheng, Evgeny Lyandres, Kaiguo Zhou and Tong Zhou
Zhongnan University of Economics and Law, Tel Aviv University, Sun Yat-sen University (SYSU) and School of Business, Southern University of Science and Technology, China
Downloads 810 (65,862)
Citation 3

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Automation, industrial robots, hedging, leverage, interest rates, labor costs

16.

Investment Opportunities and Bankruptcy Prediction

Journal of Financial Markets, 16 (3), 439-476
Number of pages: 42 Posted: 22 Nov 2006 Last Revised: 19 Apr 2018
Evgeny Lyandres and Alexei Zhdanov
Tel Aviv University and Pennsylvania State University
Downloads 804 (66,415)
Citation 13

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Growth options, Bankruptcy prediction, Default threhsold

17.

Owners' Portfolio Diversification and Firm Investment: Theory and Evidence from Private and Public Firms

Johnson School Research Paper Series No. 18-2013, Swiss Finance Institute Research Paper No. 19-12
Number of pages: 68 Posted: 12 Mar 2019 Last Revised: 13 Mar 2019
Evgeny Lyandres, Maria‐Teresa Marchica, Roni Michaely and Roberto Mura
Tel Aviv University, The University of Manchester - Alliance Manchester Business School, The University of Hong Kong and University of Manchester - Alliance Manchester Business School
Downloads 715 (77,413)
Citation 7

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diversification, strategies, private firms

18.

Does the Market Correctly Value Investment Options?

Number of pages: 77 Posted: 09 Aug 2016 Last Revised: 17 Dec 2019
Evgeny Lyandres, Egor Matveyev and Alexei Zhdanov
Tel Aviv University, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Pennsylvania State University
Downloads 666 (84,773)
Citation 1

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Misvaluation, Investment Options, Optimal Investment, Demand Uncertainty, Future Returns, Structural Estimation

19.

Product Market Competition With Crypto Tokens and Smart Contracts

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 49 Posted: 12 Jun 2019 Last Revised: 24 Apr 2023
Jiri Chod and Evgeny Lyandres
Boston College and Tel Aviv University
Downloads 657 (86,290)
Citation 4

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crypto tokens, smart contracts, product market competition, switching costs

20.

The Effects of Horizontal Merger Operating Efficiencies on Rivals, Customers, and Suppliers

Review of Finance, Forthcoming
Number of pages: 47 Posted: 26 Sep 2013 Last Revised: 16 May 2018
Gennaro (帅纳) Bernile and Evgeny Lyandres
University of Miami - Department of Finance and Tel Aviv University
Downloads 651 (87,287)
Citation 7

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horizontal mergers, synergies, competitors, customers, suppliers

21.

Costly External Financing, Investment Timing, and Investment-Cash Flow Sensitivity

Journal of Corporate Finance, Vol. 13, pp. 959-980, 2007
Number of pages: 37 Posted: 19 Oct 2007 Last Revised: 29 Mar 2013
Evgeny Lyandres
Tel Aviv University
Downloads 540 (110,658)
Citation 4

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financial constraints, external financing, investment, cash flow

22.

Convertible Debt and Investment Timing

Journal of Corporate Finance, 24, 21-37
Number of pages: 31 Posted: 22 Feb 2006 Last Revised: 19 Apr 2018
Evgeny Lyandres and Alexei Zhdanov
Tel Aviv University and Pennsylvania State University
Downloads 529 (113,496)
Citation 14

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Convertible Debt, Real Options, Investment, Capital Structure

23.

Strategic IPOs and Product Market Competition

Journal of Financial Economics (JFE), Vol. 100, pp. 45-67, 2011
Number of pages: 37 Posted: 17 Feb 2009 Last Revised: 25 Sep 2013
Jiri Chod and Evgeny Lyandres
Boston College and Tel Aviv University
Downloads 488 (125,213)
Citation 40

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IPOs, product market, competition, hedging

24.

Do Underwriters Compete in IPO Pricing?

Management Science 64 (2), 925-954
Number of pages: 63 Posted: 10 Oct 2016 Last Revised: 19 Apr 2018
Evgeny Lyandres, Fangjian Fu and Erica X. N. Li
Tel Aviv University, Singapore Management University - Lee Kong Chian School of Business and Cheung Kong Graduate School of Business
Downloads 471 (130,574)
Citation 3

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IPOs, Underwriters, Competition, Collusion

25.

Information sharing with blockchain

Number of pages: 45 Posted: 13 Nov 2024 Last Revised: 23 Apr 2025
Christian Riis Flor, Stefan Hirth, Evgeny Lyandres and Alexander Schandlbauer
University of Southern Denmark, Aarhus University, Tel Aviv University and University of Southern Denmark
Downloads 389 (164,513)

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blockchain, information sharing, collateral, financial constraints

26.

Product Market Competition and Equity Returns

Number of pages: 42 Posted: 12 Mar 2012
Evgeny Lyandres and Masahiro Watanabe
Tel Aviv University and University of Alberta - School of Business
Downloads 361 (177,252)
Citation 2

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27.

Initial Coin Offerings: A Review

Number of pages: 13 Posted: 18 Aug 2023
Evgeny Lyandres and Daniel Rabetti
Tel Aviv University and National University of Singapore (NUS)
Downloads 309 (210,474)

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Initial Coin Offerings, Decentralized Finance, Funds Raising, ICO Analysts, Crypto Regulation

28.

Inefficient Mergers

Journal of Banking and Finance, Forthcoming
Number of pages: 70 Posted: 03 Dec 2014 Last Revised: 30 Sep 2019
Yelena Larkin and Evgeny Lyandres
York University - Schulich School of Business and Tel Aviv University
Downloads 268 (244,266)

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M&As, search frictions, complementarities, product similarity, technological overlap

29.

Target Leverage and the Costs of Issuing Seasoned Equity

Finance Research Letters, Vol. 7, pp. 39-52, 2010
Number of pages: 24 Posted: 19 Jan 2005 Last Revised: 13 Mar 2013
Evgeny Lyandres
Tel Aviv University
Downloads 180 (356,316)

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target leverage, trade-off theory, seasoned equity offerings

30.

The Choice Between Various Freeze-out Procedures and its Consequences

European Corporate Governance Institute – Finance Working Paper No. 735/2021
Number of pages: 55 Posted: 18 Mar 2021
Beni Lauterbach, Evgeny Lyandres, Yevgeny Mugerman and Barak Yarkoni
Bar-Ilan University - Graduate School of Business Administration, Tel Aviv University, Bar Ilan University and Ariel University - Department of Economics and Business Administration
Downloads 163 (388,627)

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Going private transactions, controlling shareholders, mergers, tender offers

31.

Product Market Competition and Convertible Debt Financing

Number of pages: 47 Posted: 04 Jun 2023
Cheng Lei, Evgeny Lyandres, Chris Veld and Ying Xia
Monash University - Department of Banking and Finance, Tel Aviv University, Monash University and Monash University - Monash Business School
Downloads 153 (410,141)

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Product Market Competition, Competitive Threats, Convertible Debt, Financial Flexibility

32.

Investment-Based Underperformance Following Seasoned Equity Offerings

NBER Working Paper No. w11459
Number of pages: 54 Posted: 25 May 2006 Last Revised: 26 Oct 2022
Evgeny Lyandres, Jerry Sun and Lu Zhang
Tel Aviv University, Invesco Advisers, Inc. and Ohio State University - Fisher College of Business
Downloads 124 (485,312)
Citation 1

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33.

Does Market Efficiency Impact Capital Allocation Efficiency? The Case of Decentralized Exchanges

Number of pages: 49 Posted: 06 Jun 2024
Evgeny Lyandres and Alexander Zaidelson
Tel Aviv University and affiliation not provided to SSRN
Downloads 111 (528,092)

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Market e ciency, capital allocation, decentralized exchanges, concentrated liquidity

34.

Auditing Smart Contracts 

Number of pages: 52 Posted: 08 Apr 2025
Wayne R. Landsman, Evgeny Lyandres, Edward L. Maydew and Daniel Rabetti
University of North Carolina Kenan-Flagler Business School, Tel Aviv University, University of North Carolina at Chapel Hill and National University of Singapore (NUS)
Downloads 60 (790,436)

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DeFi, decentralized finance, smart contracts, security breaches, blockchain, Auduting

35.

Strategic Cost of Diversification

The Review of Financial Studies, Vol. 20, Issue 6, pp. 1901-1940, 2007
Posted: 26 Jun 2008 Last Revised: 19 Apr 2018
Evgeny Lyandres
Tel Aviv University

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diversified firms, excess values, conglomerate mergers, competitive interaction, capital structure