Alon Brav

Duke University - Fuqua School of Business

Associate Professor of Finance

Box 90120

Durham, NC 27708-0120

United States

SCHOLARLY PAPERS

34

DOWNLOADS
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Top 198

in Total Papers Downloads

52,065

CITATIONS
Rank 269

SSRN RANKINGS

Top 269

in Total Papers Citations

1,388

Scholarly Papers (34)

1.
Downloads 9,311 ( 364)
Citation 1

The Long-Term Effects of Hedge Fund Activism

Harvard Law School John M. Olin Center Discussion Paper No. 802, Columbia Law Review, Vol. 115, 2015, pp. 1085-1156, Columbia Business School Research Paper No. 13-66
Number of pages: 77 Posted: 07 Aug 2013 Last Revised: 02 Jul 2015
Lucian A. Bebchuk, Alon Brav and Wei Jiang
Harvard Law School, Duke University - Fuqua School of Business and Columbia Business School - Finance and Economics
Downloads 9,289 (362)
Citation 1

Abstract:

Corporate governance, short-termism, managerial myopia, long-term value, investor horizons, market efficiency, shareholder activism, hedge fund activism, shareholder rights, takeovers, proxy fights, takeover defenses, hedge funds

The Long-Term Effects of Hedge Fund Activism

NBER Working Paper No. w21227
Number of pages: 85 Posted: 08 Jun 2015
Lucian A. Bebchuk, Alon Brav and Wei Jiang
Harvard Law School, Duke University - Fuqua School of Business and Columbia Business School - Finance and Economics
Downloads 22 (449,866)
Citation 1
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Abstract:

2.
Downloads 8,010 ( 493)
Citation 320

Payout Policy in the 21st Century

Tuck Contemporary Corporate Finance Issues III Conference Paper
Number of pages: 43 Posted: 03 Aug 2004
Duke University - Fuqua School of Business, Duke University - Fuqua School of Business, Duke University and [email protected] Tech, Cornell University
Downloads 7,744 (510)
Citation 320

Abstract:

Payout, Dividend policy, Share repurchases, Lintner model

Payout Policy in the 21st Century

NBER Working Paper No. w9657
Number of pages: 59 Posted: 23 May 2003
Duke University - Fuqua School of Business, Duke University, Duke University - Fuqua School of Business and [email protected] Tech, Cornell University
Downloads 266 (94,307)
Citation 320

Abstract:

3.

Hedge Fund Activism, Corporate Governance, and Firm Performance

Journal of Finance, Vol. 63, p. 1729, 2008, ECGI - Finance Working Paper No. 139/2006, Vanderbilt Law and Economics Research Paper No. 07-28, FDIC Center for Financial Research Working Paper No. 2008-06
Number of pages: 56 Posted: 05 Apr 2007
Duke University - Fuqua School of Business, Columbia Business School - Finance and Economics, Vanderbilt University - Law School and University of San Diego School of Law
Downloads 6,263 (747)
Citation 138

Abstract:

Hedge Fund, Activism, Governance

4.
Downloads 2,917 ( 2,915)
Citation 101

Competing Theories of Financial Anomalies

Eleventh Annual Utah Winter Conference
Number of pages: 32 Posted: 25 Jan 2000
Alon Brav and J.B. Heaton
Duke University - Fuqua School of Business and Bartlit Beck Herman Palenchar & Scott LLP
Downloads 2,917 (2,853)
Citation 101

Abstract:

Competing Theories of Financial Anomalies

Forthcoming in Review of Financial Studies
Posted: 27 Jun 2001
Alon Brav and J.B. Heaton
Duke University - Fuqua School of Business and Bartlit Beck Herman Palenchar & Scott LLP

Abstract:

5.

Insider Trading Subsequent to Initial Public Offerings: Evidence from Expirations of Lock-Up Provisions

Number of pages: 53 Posted: 08 Feb 2000
Alon Brav and Paul A. Gompers
Duke University - Fuqua School of Business and Harvard Business School - Finance Unit
Downloads 2,226 (4,297)
Citation 29

Abstract:

6.
Downloads 2,103 ( 5,117)
Citation 32

The Returns to Hedge Fund Activism

ECGI - Law Working Paper No. 098/2008
Number of pages: 35 Posted: 24 Mar 2008
Duke University - Fuqua School of Business, Columbia Business School - Finance and Economics, University of San Diego School of Law and Vanderbilt University - Law School
Downloads 2,103 (5,016)
Citation 32

Abstract:

Hedge Fund, Activism, Governance

The Returns to Hedge Fund Activism

Financial Analysts Journal, Vol. 64, No. 6, 2008, San Diego Legal Studies Paper No. 09-002
Posted: 17 Dec 2008
Duke University - Fuqua School of Business, Columbia Business School - Finance and Economics, University of San Diego School of Law and Vanderbilt University - Law School

Abstract:

Alternative Investments - Hedge Fund Strategies, Portfolio Management - Hedge Fund Strategies, Corporate Governance

7.
Downloads 1,694 ( 7,481)
Citation 50

Using Expectations to Test Asset Pricing Models

13th Annual Utah Winter Finance Conference
Number of pages: 46 Posted: 09 Jan 2003
Alon Brav, Reuven Lehavy and Roni Michaely
Duke University - Fuqua School of Business, University of Michigan, Stephen M. Ross School of Business and [email protected] Tech, Cornell University
Downloads 1,624 (7,844)
Citation 50

Abstract:

Using Expectations to Test Asset Pricing Models

Financial Management, Vol. 34, No. 3, Autumn 2005
Number of pages: 34 Posted: 22 Aug 2005
Alon Brav, Reuven Lehavy and Roni Michaely
Duke University - Fuqua School of Business, University of Michigan, Stephen M. Ross School of Business and [email protected] Tech, Cornell University
Downloads 70 (280,822)
Citation 50
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Abstract:

8.
Downloads 1,688 ( 7,537)
Citation 30

Hedge Fund Activism: A Review

Foundations and Trends in Finance, Vol. 4, No. 3, 2009
Number of pages: 64 Posted: 12 Feb 2010 Last Revised: 25 Jul 2011
Alon Brav, Wei Jiang and Hyunseob Kim
Duke University - Fuqua School of Business, Columbia Business School - Finance and Economics and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 1,375 (10,253)
Citation 30

Abstract:

Hedge Fund, Shareholder Activism, Corporate Governance

Hedge Fund Activism: A Review

Foundations and Trends in Finance, Vol. 4, No. 3, pp. 1-66, February 2010
Number of pages: 64 Posted: 22 Oct 2011
Wei Jiang, Hyunseob Kim and Alon Brav
Columbia Business School - Finance and Economics, Cornell University - Samuel Curtis Johnson Graduate School of Management and Duke University - Fuqua School of Business
Downloads 307 (80,552)
Citation 30

Abstract:

Hedge Fund Activism: A Review

Foundations and Trends in Finance, Vol. 4, No. 3, pp. 185-246, 2009
Number of pages: 64 Posted: 25 Jun 2010
Alon Brav, Wei Jiang and Hyunseob Kim
Duke University - Fuqua School of Business, Columbia Business School - Finance and Economics and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 6 (540,602)
Citation 30
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Abstract:

How Does Hedge Fund Activism Reshape Corporate Innovation?

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 85 Posted: 17 Mar 2014 Last Revised: 05 Jul 2017
Alon Brav, Wei Jiang, Song Ma and Xuan Tian
Duke University - Fuqua School of Business, Columbia Business School - Finance and Economics, Yale School of Management and Tsinghua University - PBC School of Finance
Downloads 1,612 (7,933)

Abstract:

Hedge fund activism, Innovation, Resource allocation, Human capital redeployment

How Does Hedge Fund Activism Reshape Corporate Innovation?

NBER Working Paper No. w22273
Number of pages: 70 Posted: 24 May 2016
Alon Brav, Wei Jiang, Song Ma and Xuan Tian
Duke University - Fuqua School of Business, Columbia Business School - Finance and Economics, Yale School of Management and Tsinghua University - PBC School of Finance
Downloads 18 (473,048)
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Abstract:

10.

Payout Policy in the 21th Century: The Data

Johnson School Research Paper Series No. 29-06
Number of pages: 50 Posted: 21 Nov 2005
Duke University - Fuqua School of Business, Duke University - Fuqua School of Business, Duke University and [email protected] Tech, Cornell University
Downloads 1,611 (6,739)
Citation 261

Abstract:

Payout, Dividend policy, Share repurchases, Survey, Survey data

11.

The Rational-Behavioral Debate in Financial Economics

Journal of Economic Methodology, Forthcoming
Number of pages: 26 Posted: 14 Jul 2004
Alon Brav, J.B. Heaton and Alex Rosenberg
Duke University - Fuqua School of Business, Bartlit Beck Herman Palenchar & Scott LLP and Duke University
Downloads 1,365 (10,294)
Citation 4

Abstract:

Raional Finance, Behavioral Finance, Economic Methodolology

12.
Downloads 1,250 ( 12,188)

Wolf Pack Activism

Robert H. Smith School Research Paper No. RHS 2529230, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 501/2017
Number of pages: 59 Posted: 23 Nov 2014 Last Revised: 13 Apr 2017
Duke University - Fuqua School of Business, London School of Economics (LSE) and University of Maryland - Department of Finance
Downloads 1,250 (11,926)

Abstract:

corporate governance; blockholder monitoring; institutional investors; reputation concerns; strategic complementarity

Wolf Pack Activism

CEPR Discussion Paper No. DP11507
Number of pages: 56 Posted: 20 Sep 2016
Duke University - Fuqua School of Business, London School of Economics (LSE) and University of Maryland - Department of Finance
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Abstract:

13.
Downloads 1,186 ( 13,265)
Citation 13

The Limits of the Limits of Arbitrage

Review of Finance, Forthcoming
Number of pages: 35 Posted: 12 Jul 2006
Alon Brav, J.B. Heaton and Si Li
Duke University - Fuqua School of Business, Bartlit Beck Herman Palenchar & Scott LLP and Wilfrid Laurier University - School of Business & Economics
Downloads 1,186 (13,004)
Citation 13

Abstract:

Market Efficiency, Behavioral Finance, Limits on Arbitrage, Idiosyncratic Volatility

The Limits of the Limits of Arbitrage

Review of Finance, Vol. 14, Issue 1, pp. 157-187, 2010
Posted: 25 Jan 2010
Alon Brav, J.B. Heaton and Si Li
Duke University - Fuqua School of Business, Bartlit Beck Herman Palenchar & Scott LLP and Wilfrid Laurier University - School of Business & Economics

Abstract:

G11, G12, G14

An Empirical Analysis of Analysts' Target Prices: Short Term Informativeness and Long Term Dynamics

Number of pages: 54 Posted: 15 Apr 2001
Alon Brav and Reuven Lehavy
Duke University - Fuqua School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 996 (16,957)
Citation 63

Abstract:

An Empirical Analysis of Analysts' Target Prices: Short-Term Informativeness and Long-Term Dynamics

Forthcoming in Journal of Finance
Posted: 08 Aug 2002
Alon Brav and Reuven Lehavy
Duke University - Fuqua School of Business and University of Michigan, Stephen M. Ross School of Business

Abstract:

The Idiosyncratic Volatility Puzzle: Time Trend or Speculative Episodes?

McCombs Research Paper Series No. FIN-02-09
Number of pages: 57 Posted: 09 Jun 2008 Last Revised: 18 Jan 2009
Duke University - Fuqua School of Business, Duke University - Fuqua School of Business, Duke University and University of Miami - School of Business Administration
Downloads 974 (17,569)
Citation 64

Abstract:

Idiosyncratic volatility, stock market bubbles, retail investors, speculation, stock splits

The Idiosyncratic Volatility Puzzle: Time Trend or Speculative Episodes?

The Review of Financial Studies, Vol. 23, Issue 2, pp. 863-899, 2009
Posted: 01 Feb 2010
Duke University - Fuqua School of Business, Duke University - Fuqua School of Business, Duke University and University of Miami - School of Business Administration

Abstract:

G11, G12, G14

16.

Empty Voting and the Efficiency of Corporate Governance

AFA 2009 San Francisco Meetings Paper
Number of pages: 52 Posted: 25 Mar 2008 Last Revised: 27 Mar 2010
Alon Brav and Richmond D. Mathews
Duke University - Fuqua School of Business and University of Maryland - Department of Finance
Downloads 969 (16,664)
Citation 13

Abstract:

voting, trading, hedge funds, corporate governance

The Real Effects of Hedge Fund Activism: Productivity, Asset Allocation, and Labor Outcomes

Number of pages: 56 Posted: 15 Mar 2012 Last Revised: 21 Jan 2015
Alon Brav, Wei Jiang and Hyunseob Kim
Duke University - Fuqua School of Business, Columbia Business School - Finance and Economics and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 560 (38,519)
Citation 1

Abstract:

Hedge fund activism, Governance, Productivity, Capital Reallocation, Labor Outcomes

The Real Effects of Hedge Fund Activism: Productivity, Risk, and Product Market Competition

US Census Bureau Center for Economic Studies Paper No. CES-WP-12-14, Johnson School Research Paper Series No. 33-2012
Number of pages: 53 Posted: 10 Oct 2012 Last Revised: 18 Jan 2013
Alon Brav, Wei Jiang and Hyunseob Kim
Duke University - Fuqua School of Business, Columbia Business School - Finance and Economics and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 157 (157,277)
Citation 3

Abstract:

Hedge funds, Governance, Productivity

The Real Effects of Hedge Fund Activism: Productivity, Asset Allocation, and Labor Outcomes

NBER Working Paper No. w17517
Number of pages: 57 Posted: 15 Oct 2011
Alon Brav, Wei Jiang and Hyunseob Kim
Duke University - Fuqua School of Business, Columbia Business School - Finance and Economics and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 40 (367,077)
Citation 3

Abstract:

18.

Pre-Disclosure Accumulations by Activist Investors: Evidence and Policy

Journal of Corporation Law, Vol. 39, No. 1, pp. 1-34, Fall 2013, Columbia Business School Research Paper No. 13-33
Number of pages: 36 Posted: 30 Apr 2013 Last Revised: 03 Jun 2015
Harvard Law School, Duke University - Fuqua School of Business, Columbia Law School and Columbia Business School - Finance and Economics
Downloads 675 (17,881)

Abstract:

Corporate governance, disclosure, Williams Act, takeovers, proxy fights, takeover defenses, poison pills, control contests, shareholder activism, activist investors, hedge funds, blockholders

19.

The Equity in Equity Issuances

Number of pages: 48 Posted: 13 Nov 1998
Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School, Finance Department and Harvard Business School - Finance Unit
Downloads 648 (31,686)

Abstract:

20.

Evidence on the Tradeoff Between Risk and Return for Ipo and Seo Firms

Number of pages: 50 Posted: 06 Oct 2005
Duke University - Fuqua School of Business, [email protected] Tech, Cornell University, The Wharton School - University of Pennsylvania; National Bureau of Economic Research (NBER) and Federal Reserve Board
Downloads 632 (32,213)
Citation 8

Abstract:

Equity Offering, Private Debt, Institutional Lenders

21.

Did ERISA's Prudent Man Rule Change the Pricing of Dividend Omitting Firms?

Number of pages: 27 Posted: 14 Jun 1998
Alon Brav and J.B. Heaton
Duke University - Fuqua School of Business and Bartlit Beck Herman Palenchar & Scott LLP
Downloads 629 (31,068)
Citation 21

Abstract:

22.

Managerial Response to the May 2003 Dividend Tax Cut

Number of pages: 34 Posted: 23 Jan 2007
Duke University - Fuqua School of Business, Duke University - Fuqua School of Business, Duke University and [email protected] Tech, Cornell University
Downloads 608 (33,051)
Citation 16

Abstract:

Payout, Dividend policy, Share repurchases, Tax cut, Press Release

23.

Costly Communication, Shareholder Activism, and Limits to Arbitrage

AFA 2007 Chicago Meetings Paper
Number of pages: 51 Posted: 07 Nov 2005
Duke University - Fuqua School of Business, Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department and Columbia Business School - Finance and Economics
Downloads 597 (33,487)
Citation 11

Abstract:

Limits to Arbitrage, Communication, Shareholder Activism, Closed-End Funds

24.

Inference in Long Horizon Event Studies: A Bayesian Approach with Application to Initial Public Offerings

Number of pages: 44 Posted: 10 Aug 1998
Alon Brav
Duke University - Fuqua School of Business
Downloads 579 (37,126)
Citation 74

Abstract:

Asset Pricing with Heterogeneous Consumers and Limited Participation: Empirical Evidence

AFA 2001 New Orleans Meetings; CRSP Working Paper No. 505; and RLW Center Working Paper No. 23-99
Number of pages: 48 Posted: 10 Feb 2000
Duke University - Fuqua School of Business, University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School, Finance Department
Downloads 445 (51,687)
Citation 100

Abstract:

Asset Pricing with Heterogeneous Consumers and Limited Participation: Empirical Evidence

NBER Working Paper No. w7406
Number of pages: 53 Posted: 12 Jul 2000
Duke University - Fuqua School of Business, University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School, Finance Department
Downloads 35 (386,223)
Citation 100

Abstract:

Asset Pricing with Heterogeneous Consumers and Limited Participation: Empirical Evidence

NBER Working Paper No. w8822
Number of pages: 41 Posted: 10 Aug 2012
Duke University - Fuqua School of Business, University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School, Finance Department
Downloads 9 (524,761)
Citation 98

Abstract:

Asset Pricing with Heterogeneous Consumers and Limited Participation: Empirical Evidence

Journal of Political Economy, Forthcoming
Posted: 19 Nov 2001
Duke University - Fuqua School of Business, University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School, Finance Department

Abstract:

Equity premium, Incomplete consumption insurance, Heterogeneous consumers, Limited capital market participation

Asset Pricing with Heterogeneous Consumers and Limited Participation: Empirical Evidence

Journal of Political Economy, Vol. 110, August 2002
Posted: 26 Aug 2002
Duke University - Fuqua School of Business, University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School, Finance Department

Abstract:

26.

Event Studies in Securities Litigation: Low Power, Confounding Effects, and Bias

Washington University Law Review, Vol. 93, No. 2, 2015
Number of pages: 33 Posted: 21 Mar 2015 Last Revised: 10 May 2017
Alon Brav and J.B. Heaton
Duke University - Fuqua School of Business and Bartlit Beck Herman Palenchar & Scott LLP
Downloads 298 (37,891)

Abstract:

event studies, securities litigation

27.

Activist Arbitrage: A Study of Open-Ending Attempts of Closed-End Funds

Journal of Financial Economics, Vol. 95, No. 1, pp. 1-19, 2008
Number of pages: 43 Posted: 22 Oct 2011
Duke University - Fuqua School of Business, Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department and Columbia Business School - Finance and Economics
Downloads 70 (242,304)
Citation 19

Abstract:

28.

Market Indeterminacy

Journal of Corporation Law, Vol. 28, 2003
Number of pages: 36 Posted: 06 Oct 2003
Alon Brav and J.B. Heaton
Duke University - Fuqua School of Business and Bartlit Beck Herman Palenchar & Scott LLP
Downloads 19 (415,596)
Citation 4

Abstract:

29.

Dancing with Activists

Columbia Business School Research Paper No. 17-44
Number of pages: 68 Posted: 10 Apr 2017 Last Revised: 28 Jun 2017
Harvard Law School, Duke University - Fuqua School of Business, Columbia Business School - Finance and Economics and INSEAD
Downloads 0 (40,634)

Abstract:

Corporate governance, hedge fund activism, activist settlements

30.

Anti-Activist Legislation: The Curious Case of the Brokaw Act

Number of pages: 24 Posted: 29 Oct 2016
Duke University - Fuqua School of Business, Bartlit Beck Herman Palenchar & Scott LLP and Boston College - Carroll School of Management
Downloads 0 (97,444)

Abstract:

hedge fund activism, corporate law, shareholder activism, shareholder activist, hedge fund activist

31.

Recent Advances in Research on Hedge Fund Activism: Value Creation and Identification

Annual Review of Financial Economics, Vol. 7, pp. 579-595, 2015
Posted: 11 Dec 2015
Alon Brav, Wei Jiang and Hyunseob Kim
Duke University - Fuqua School of Business, Columbia Business School - Finance and Economics and Cornell University - Samuel Curtis Johnson Graduate School of Management

Abstract:

32.

The Role of Lock-ups in Initial Public Offerings

Review of Financial Studies, Forthcoming
Posted: 01 Nov 2001
Alon Brav and Paul A. Gompers
Duke University - Fuqua School of Business and Harvard Business School - Finance Unit

Abstract:

33.

Is the Abnormal Return Following Equity Issuances Anomalous?

Rodney L. White Center Working Paper No. 02-99
Posted: 12 Feb 1999
Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School, Finance Department and Harvard Business School - Finance Unit

Abstract:

Myth or Reality? The Long-Run Underperformance of Initial Public Offerings: Evidence from Venture and Nonventure Capital-Backed Companies

Journal of Finance, Vol. 52 No. 4, December 1997
Posted: 11 Apr 1998
Alon Brav and Paul A. Gompers
Duke University - Fuqua School of Business and Harvard Business School - Finance Unit

Abstract:

Myth or Reality? The Long-Run Underperformance of Initial Public Offerings: Evidence from Venture and Nonventure Capital-Backed Companies

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 17 Nov 2009
Alon Brav and Paul A. Gompers
Duke University - Fuqua School of Business and Harvard Business School - Finance Unit

Abstract:

Performance measures, Initial public offerings (IPO), Public firms, Firm performance, Benchmarks, Venture capitalists, Venture capital firms