Itay Goldstein

University of Pennsylvania - The Wharton School - Finance Department

Associtae Professor

The Wharton School

3620 Locust Walk

Philadelphia, PA 19104

United States

  • University of Pennsylvania - The Wharton School - Finance Department

    • Email
    • Tel: 215-746-0499
SCHOLARLY PAPERS

72

DOWNLOADS
Rank 1,237

SSRN RANKINGS

Top 1,237

in Total Papers Downloads

31,044

SSRN CITATIONS
Rank 404

SSRN RANKINGS

Top 404

in Total Papers Citations

1,533

CROSSREF CITATIONS

787

Scholarly Papers (72)

Actions:
Email selected abstracts
1.

The Real Effects of Financial Markets: The Impact of Prices on Takeovers

Journal of Finance 67(3), 933-971, June 2012
Number of pages: 58 Posted: 19 Mar 2008 Last Revised: 04 Jun 2014
Alex Edmans, Itay Goldstein and Wei Jiang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Emory University Goizueta Business School
Downloads 2,124 (10,097)
Citation 37

Abstract:

Loading...

Takeovers, mergers and acquisitions, market valuation, feedback effects, financial and real efficiency, merger waves

2.

Good Disclosure, Bad Disclosure

Journal of Financial Economics (JFE), Forthcoming, Rotman School of Management Working Paper No. 2388976, AFA 2016 Annual Meetings
Number of pages: 66 Posted: 02 Feb 2014 Last Revised: 21 Nov 2017
Itay Goldstein and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department and University of Toronto - Rotman School of Management
Downloads 1,366 (20,155)
Citation 44

Abstract:

Loading...

Disclosure, price informativeness, learning, real efficiency

3.

Price Informativeness and Investment Sensitivity to Stock Price

Number of pages: 46 Posted: 03 Mar 2005
Qi Chen, Itay Goldstein and Wei Jiang
Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department and Emory University Goizueta Business School
Downloads 1,238 (23,347)
Citation 150

Abstract:

Loading...

investments and stock prices, price informativeness, firm-specific return variation, PIN

4.

Self-Fulfilling Credit Market Freezes

Downloads 1,204 ( 24,359)
Citation 67

Self-Fulfilling Credit Market Freezes

Review of Financial Studies, Vol. 24, No. 11, pp. 3519-3555, 2011, Harvard Law and Economics Discussion Paper No. 623
Number of pages: 50 Posted: 13 Dec 2008 Last Revised: 07 Dec 2011
Lucian A. Bebchuk and Itay Goldstein
Harvard Law School and University of Pennsylvania - The Wharton School - Finance Department
Downloads 1,016 (30,668)
Citation 15

Abstract:

Loading...

Credit freeze, self-fulfilling crisis, run on the economy, global games, coordination failure, capital injection, government policy, lender of last resort

Self-Fulfilling Credit-Market Freezes

AFA 2011 Denver Meetings Paper
Number of pages: 42 Posted: 17 Mar 2010 Last Revised: 07 Dec 2011
Lucian A. Bebchuk and Itay Goldstein
Harvard Law School and University of Pennsylvania - The Wharton School - Finance Department
Downloads 149 (269,813)
Citation 3

Abstract:

Loading...

Self-Fulfilling Credit Market Freezes

NBER Working Paper No. w16031
Number of pages: 43 Posted: 04 Jun 2010 Last Revised: 22 Apr 2022
Lucian A. Bebchuk and Itay Goldstein
Harvard Law School and University of Pennsylvania - The Wharton School - Finance Department
Downloads 39 (585,011)
Citation 9

Abstract:

Loading...

5.

Information Disclosure in Financial Markets

Downloads 1,195 ( 24,676)
Citation 57

Information Disclosure in Financial Markets

Annual Review of Financial Economics, 2017, 9, 101–125, Rotman School of Management Working Paper No. 2927013
Number of pages: 38 Posted: 04 Mar 2017 Last Revised: 21 Nov 2017
Itay Goldstein and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department and University of Toronto - Rotman School of Management
Downloads 1,195 (24,273)
Citation 57

Abstract:

Loading...

disclosure, market quality, crowding-out effect, learning from prices, real efficiency, welfare

Information Disclosure in Financial Markets

Annual Review of Financial Economics, Vol. 9, pp. 101-125, 2017
Posted: 03 Jan 2018
Itay Goldstein and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department and University of Toronto - Rotman School of Management

Abstract:

Loading...

6.

On ESG Investing: Heterogeneous Preferences, Information, and Asset Prices

Downloads 1,153 ( 25,936)
Citation 3

On ESG Investing: Heterogeneous Preferences, Information, and Asset Prices

Number of pages: 82 Posted: 12 Apr 2021 Last Revised: 22 Jun 2022
Itay Goldstein, Alexandr Kopytov, Lin Shen and Haotian Xiang
University of Pennsylvania - The Wharton School - Finance Department, The University of Hong Kong - Faculty of Business and Economics, INSEAD and Peking University - Department of Finance
Downloads 1,142 (25,862)
Citation 3

Abstract:

Loading...

ESG investing, heterogeneous preferences, price informativeness

On ESG Investing: Heterogeneous Preferences, Information, and Asset Prices

NBER Working Paper No. w29839
Number of pages: 81 Posted: 11 Apr 2022 Last Revised: 16 Apr 2022
Itay Goldstein, Alexandr Kopytov, Lin Shen and Haotian Xiang
University of Pennsylvania - The Wharton School - Finance Department, The University of Hong Kong - Faculty of Business and Economics, INSEAD and Peking University - Guanghua School of Management
Downloads 11 (799,456)
  • Add to Cart

Abstract:

Loading...

7.

The Real Effects of Financial Markets

Downloads 1,112 ( 27,357)
Citation 103

The Real Effects of Financial Markets

Annual Review of Financial Economics 4, 339-360, October 2012, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 323/2012
Number of pages: 41 Posted: 24 Dec 2011 Last Revised: 30 Oct 2018
Philip Bond, Alex Edmans and Itay Goldstein
University of Washington - Michael G. Foster School of Business, London Business School - Institute of Finance and Accounting and University of Pennsylvania - The Wharton School - Finance Department
Downloads 1,021 (30,430)
Citation 94

Abstract:

Loading...

Feedback effects, financial efficiency, market efficiency, real efficiency

The Real Effects of Financial Markets

NBER Working Paper No. w17719
Number of pages: 36 Posted: 31 Dec 2011 Last Revised: 02 Jun 2022
Philip Bond, Alex Edmans and Itay Goldstein
University of Washington - Michael G. Foster School of Business, London Business School - Institute of Finance and Accounting and University of Pennsylvania - The Wharton School - Finance Department
Downloads 91 (384,395)
Citation 12

Abstract:

Loading...

The Real Effects of Financial Markets

Annual Review of Financial Economics, Vol. 4, pp. 339-360, 2012
Posted: 04 Nov 2012
Philip Bond, Alex Edmans and Itay Goldstein
University of Washington - Michael G. Foster School of Business, London Business School - Institute of Finance and Accounting and University of Pennsylvania - The Wharton School - Finance Department

Abstract:

Loading...

8.

Should Banks' Stress Test Results Be Disclosed? An Analysis of the Costs and Benefits

Foundations and Trends in Finance, Forthcoming
Number of pages: 51 Posted: 15 Dec 2013
Itay Goldstein and Haresh Sapra
University of Pennsylvania - The Wharton School - Finance Department and Booth School of Business, University of Chicago
Downloads 1,015 (31,180)
Citation 43

Abstract:

Loading...

Bank stress tests, stress tests disclosures

9.

Bank Transparency and Deposit Flows

Number of pages: 69 Posted: 01 Aug 2018 Last Revised: 27 Aug 2021
Qi Chen, Itay Goldstein, Zeqiong Huang and Rahul Vashishtha
Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department, Yale School of Management and Duke University
Downloads 938 (34,867)
Citation 10

Abstract:

Loading...

Transparency, Banks, Money, Safe assets, Deposits, Liquidity transformation

10.

Feedback Effects, Asymmetric Trading, and the Limits to Arbitrage

Downloads 863 ( 39,143)
Citation 29

Feedback Effects, Asymmetric Trading, and the Limits to Arbitrage

American Economic Review, Forthcoming, AFA 2013 San Diego Meetings Paper, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 318/2015
Number of pages: 67 Posted: 21 Mar 2011 Last Revised: 29 Oct 2018
Alex Edmans, Itay Goldstein and Wei Jiang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Emory University Goizueta Business School
Downloads 809 (42,169)
Citation 29

Abstract:

Loading...

Limits to arbitrage, feedback effect, overinvestment

Feedback Effects and the Limits to Arbitrage

NBER Working Paper No. w17582
Number of pages: 52 Posted: 15 Nov 2011 Last Revised: 16 Jan 2022
Alex Edmans, Itay Goldstein and Wei Jiang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Emory University Goizueta Business School
Downloads 53 (515,337)

Abstract:

Loading...

Feedback Effects and the Limits to Arbitrage

CEPR Discussion Paper No. DP9917
Number of pages: 44 Posted: 02 Jun 2014
Alex Edmans, Itay Goldstein and Wei Jiang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Emory University Goizueta Business School
Downloads 1 (915,283)
  • Add to Cart

Abstract:

Loading...

feedback effect, Limits to arbitrage, overinvestment

11.

Commodity Financialization and Information Transmission

AFA 2016 Annual Meeting, NBER 2015 Commodity Meeting, Rotman School of Management Working Paper No. 2555996, The Wharton School Research Paper, 28th Annual Conference on Financial Economics and Accounting, Journal of Finance, Forthcoming
Number of pages: 66 Posted: 27 Jan 2015 Last Revised: 17 Aug 2021
Itay Goldstein and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department and University of Toronto - Rotman School of Management
Downloads 861 (39,283)
Citation 17

Abstract:

Loading...

Commodity financialization, supply channel, price informativeness, feedback effect

12.

To FinTech and Beyond

Number of pages: 21 Posted: 06 Nov 2019
Itay Goldstein, Wei Jiang and George Andrew Karolyi
University of Pennsylvania - The Wharton School - Finance Department, Emory University Goizueta Business School and Cornell University - SC Johnson College of Business
Downloads 843 (40,433)
Citation 18

Abstract:

Loading...

Financial Technology; Blockchain; Cryptocurrency; Roboadvising; Big Data; Peer-to-Peer Lending; Registered Reports

13.

Housing Price Booms and Crowding-Out Effects in Bank Lending

Review of Financial Studies, Forthcoming, University of Miami Business School Research Paper No. 18-2
Number of pages: 75 Posted: 08 Apr 2013 Last Revised: 10 Oct 2018
Indraneel Chakraborty, Itay Goldstein and Andrew MacKinlay
University of Miami, University of Pennsylvania - The Wharton School - Finance Department and Virginia Tech
Downloads 800 (43,410)
Citation 50

Abstract:

Loading...

Bank Loans, Housing Shocks, Investment Policy

14.

Monetary Stimulus and Bank Lending

Journal of Financial Economics (JFE), Forthcoming, Finance Down Under 2017 Building on the Best from the Cellars of Finance
Number of pages: 79 Posted: 21 Feb 2016 Last Revised: 19 Jul 2019
Indraneel Chakraborty, Itay Goldstein and Andrew MacKinlay
University of Miami, University of Pennsylvania - The Wharton School - Finance Department and Virginia Tech
Downloads 773 (45,401)
Citation 68

Abstract:

Loading...

Bank Lending, Quantitative Easing, Mortgage-Backed Securities

15.

Information Diversity and Complementarities in Trading and Information Acquisition

Journal of Finance, 2015, 70(4): 1723-1765, Rotman School of Management Working Paper No. 1909501
Number of pages: 98 Posted: 16 Aug 2011 Last Revised: 26 Feb 2016
Itay Goldstein and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department and University of Toronto - Rotman School of Management
Downloads 773 (45,401)
Citation 52

Abstract:

Loading...

information diversity, uncertainty reduction effect, price informativeness, complementarity

16.

The Real Effects of Modern Information Technologies: Evidence from the EDGAR Implementation

Downloads 751 ( 47,224)

The Real Effects of Modern Information Technologies: Evidence from the EDGAR Implementation

Number of pages: 60 Posted: 07 Jul 2020 Last Revised: 18 Jan 2022
Itay Goldstein, Shijie Yang and Luo Zuo
University of Pennsylvania - The Wharton School - Finance Department, The Chinese University of Hong Kong, Shenzhen and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 416 (97,699)

Abstract:

Loading...

Corporate Investment, Information Technologies, EDGAR, Equity Financing, Managerial Learning.

The Real Effects of Modern Information Technologies: Evidence from the EDGAR Implementation

NBER Working Paper No. w27529
Number of pages: 61 Posted: 14 Jul 2020 Last Revised: 22 Mar 2022
Itay Goldstein, Shijie Yang and Luo Zuo
University of Pennsylvania - The Wharton School - Finance Department, The Chinese University of Hong Kong, Shenzhen and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 335 (125,007)

Abstract:

Loading...

17.

Investor Flows and Fragility in Corporate Bond Funds

Number of pages: 50 Posted: 21 Apr 2015 Last Revised: 18 Jul 2015
Itay Goldstein, Hao Jiang and David T. Ng
University of Pennsylvania - The Wharton School - Finance Department, Michigan State University and Johnson College of Business
Downloads 748 (47,464)
Citation 102

Abstract:

Loading...

Fund Flows, Fragility, Bond Funds, Runs

18.

Costly Communication, Shareholder Activism, and Limits to Arbitrage

AFA 2007 Chicago Meetings Paper
Number of pages: 51 Posted: 07 Nov 2005
Michael Bradley, Alon Brav, Itay Goldstein and Wei Jiang
Duke University - Fuqua School of Business, Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department and Emory University Goizueta Business School
Downloads 713 (50,558)
Citation 13

Abstract:

Loading...

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

19.

Demand Deposit Contracts and the Probability of Bank Runs

Number of pages: 42 Posted: 26 Feb 2002
Itay Goldstein and Ady Pauzner
University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University - Eitan Berglas School of Economics
Downloads 680 (53,861)
Citation 356

Abstract:

Loading...

20.

Speculation and Hedging in Segmented Markets

Review of Financial Studies, 2014, 27(3): 881-922
Number of pages: 50 Posted: 21 Nov 2010 Last Revised: 26 Feb 2016
Itay Goldstein, Yan Li and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department, Temple University - Fox School of Business and Management and University of Toronto - Rotman School of Management
Downloads 615 (61,230)
Citation 22

Abstract:

Loading...

Speculation, Hedging, Market Segmentation, Price Informativeness, Information Acquisition, Asset Prices

21.

Overconfidence and Team Coordination

Number of pages: 32 Posted: 10 Dec 2003
Simon Gervais and Itay Goldstein
Duke University - Fuqua School of Business and University of Pennsylvania - The Wharton School - Finance Department
Downloads 612 (61,638)
Citation 9

Abstract:

Loading...

Overconfidence, Team Effort, Coordination

22.

Incentives for Information Production in Markets Where Prices Affect Real Investment

Downloads 611 ( 61,748)
Citation 57

Incentives for Information Production in Markets Where Prices Affect Real Investment

Journal of the European Economic Association, Forthcoming
Number of pages: 38 Posted: 22 Nov 2013 Last Revised: 09 Jul 2016
James Dow, Itay Goldstein and Alexander Guembel
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Toulouse School of Economics, University of Toulouse Capitole
Downloads 311 (135,175)
Citation 29

Abstract:

Loading...

Incentives for Information Production in Markets Where Prices Affect Real Investment

UBC Winter Finance Conference 2008 Paper
Number of pages: 43 Posted: 15 Jan 2007 Last Revised: 07 Dec 2011
James Dow, Itay Goldstein and Alexander Guembel
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Toulouse School of Economics, University of Toulouse Capitole
Downloads 300 (140,518)
Citation 37

Abstract:

Loading...

Information Production, Real Investments, Financial Markets

23.

Stress Tests and Information Disclosure

Journal of Economic Theory, Volume 177, September 2018, Pages 34–69, FRB of Philadelphia Working Paper No. 17-28
Number of pages: 57 Posted: 07 Sep 2017
Itay Goldstein and Yaron Leitner
University of Pennsylvania - The Wharton School - Finance Department and Washington University in St. Louis, Olin Business School
Downloads 594 (63,998)
Citation 52

Abstract:

Loading...

Bayesian persuasion, optimal disclosure, stress tests, bank regulation, adverse selection

24.

Contracting with Synergies

Downloads 513 ( 76,878)

Contracting with Synergies

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 320/2011, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 55 Posted: 13 Nov 2011 Last Revised: 11 Aug 2020
Alex Edmans, Itay Goldstein and John Zhu
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and University of Kansas
Downloads 484 (81,706)

Abstract:

Loading...

contract theory, complementarities, principal-agent problem, multiple agents, teams, synergies, influence

Contracting with Synergies

NBER Working Paper No. w17606
Number of pages: 40 Posted: 21 Nov 2011 Last Revised: 28 Mar 2022
Alex Edmans, Itay Goldstein and John Zhu
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and University of Kansas
Downloads 29 (646,971)

Abstract:

Loading...

Contracting with Synergies

CEPR Discussion Paper No. DP9559
Number of pages: 51 Posted: 17 Jul 2013
Alex Edmans, Itay Goldstein and John Zhu
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and University of Kansas
Downloads 0
  • Add to Cart

Abstract:

Loading...

complementarities, contract theory, influence, multiple agents, principal-agent problem, synergies, teams

Contracting with Synergies

CEPR Discussion Paper No. DP9747
Number of pages: 52 Posted: 19 Nov 2013
Alex Edmans, Itay Goldstein and John Zhu
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and University of Kansas
Downloads 0
  • Add to Cart

Abstract:

Loading...

complementarities, Contract theory, influence., multiple agents, principal-agent problem, synergies, teams

25.

Information Sharing in Financial Markets

Number of pages: 68 Posted: 14 Jul 2020 Last Revised: 23 Jun 2021
Itay Goldstein, Yan Xiong and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department, The Hong Kong University of Science and Technology and University of Toronto - Rotman School of Management
Downloads 481 (83,291)
Citation 1

Abstract:

Loading...

Information sharing, communication, sentiment, asset pricing

26.

Volatility of FDI and Portfolio Investments: The Role of Information, Liquidation Shocks and Transparency

Number of pages: 43 Posted: 05 Nov 2002
Itay Goldstein and Assaf Razin
University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University - Eitan Berglas School of Economics
Downloads 438 (92,794)
Citation 2

Abstract:

Loading...

FDI, Capital Flows, Transparency, Asymmetric Information, Corporate Governance

27.

Market Efficiency and Real Efficiency: The Connect and Disconnect via Feedback Effects

American Finance Association 2015 Annual Meeting, ASSA Econometric Society 2014 Meetings, Society for Economic Dynamics 2014 Annual Meeting, 2014 China International Conference in Finance, Rotman School of Management Working Paper No. 2378120
Number of pages: 47 Posted: 13 Jan 2014 Last Revised: 26 Feb 2016
Itay Goldstein and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department and University of Toronto - Rotman School of Management
Downloads 433 (94,036)
Citation 9

Abstract:

Loading...

Market Efficiency, Real Efficiency, Feedback Effects, Externality

28.

Manipulation, the Allocational Role of Prices and Production Externalities

Number of pages: 44 Posted: 11 Mar 2002
Itay Goldstein and Alexander Guembel
University of Pennsylvania - The Wharton School - Finance Department and Toulouse School of Economics, University of Toulouse Capitole
Downloads 432 (94,272)
Citation 79

Abstract:

Loading...

Manipulation, speculation, market efficiency, production externalities

29.

Corporate Finance Theory: Introduction to Special Issue

Number of pages: 17 Posted: 24 Oct 2014
Itay Goldstein and Dirk Hackbarth
University of Pennsylvania - The Wharton School - Finance Department and Boston University - Department of Finance & Economics
Downloads 414 (99,112)

Abstract:

Loading...

30.

Utility Tokens as a Commitment to Competition

Number of pages: 58 Posted: 14 Nov 2019 Last Revised: 01 Jun 2022
Itay Goldstein, Deeksha Gupta and Ruslan Sverchkov
University of Pennsylvania - The Wharton School - Finance Department, Carnegie Mellon University and University of Warwick - Warwick Business School
Downloads 388 (106,815)
Citation 9

Abstract:

Loading...

Utility Tokens, Crowd-Funding, Blockchain, Financing

31.

Big Data in Finance

Downloads 373 (111,606)

Big Data in Finance

Number of pages: 20 Posted: 22 Mar 2021
Itay Goldstein, Chester S. Spatt and Mao Ye
University of Pennsylvania - The Wharton School - Finance Department, Carnegie Mellon University - David A. Tepper School of Business and University of Illinois at Urbana-Champaign
Downloads 348 (119,770)

Abstract:

Loading...

Big Data

Big Data in Finance

NBER Working Paper No. w28615
Number of pages: 21 Posted: 29 Mar 2021 Last Revised: 10 Mar 2022
Itay Goldstein, Chester S. Spatt and Mao Ye
University of Pennsylvania - The Wharton School - Finance Department, Carnegie Mellon University - David A. Tepper School of Business and University of Illinois at Urbana-Champaign
Downloads 25 (676,412)
  • Add to Cart

Abstract:

Loading...

32.

Credit Rating Inflation and Firms' Investments

Number of pages: 58 Posted: 07 Dec 2017 Last Revised: 04 Sep 2019
Itay Goldstein and Chong Huang
University of Pennsylvania - The Wharton School - Finance Department and University of California, Irvine - Paul Merage School of Business
Downloads 353 (118,728)
Citation 12

Abstract:

Loading...

Credit rating agency, rating inflation, real effect, feedback effect

33.

The Choice of Exchange Rate Regime and Speculative Attacks

Downloads 353 (118,728)
Citation 3

The Choice of Exchange Rate Regime and Speculative Attacks

Number of pages: 43 Posted: 01 Mar 2002
Alex Cukierman, Itay Goldstein and Yossi Spiegel
Tel Aviv University - Eitan Berglas School of Economics, University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University, Coller School of Management
Downloads 330 (127,061)
Citation 1

Abstract:

Loading...

The Choice of Exchange Rate Regime and Speculative Attacks

CEPR Discussion Paper No. 3714
Number of pages: 51 Posted: 11 Feb 2003
Alex Cukierman, Itay Goldstein and Yossi Spiegel
Tel Aviv University - Eitan Berglas School of Economics, University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University, Coller School of Management
Downloads 23 (692,201)
  • Add to Cart

Abstract:

Loading...

Currency crises, choice of exchange rate regime, speculators, Tobin tax, global games, reputation

34.

Fundamentals or Panic: Lessons from the Empirical Literature on Financial Crises

Number of pages: 25 Posted: 27 Oct 2010 Last Revised: 07 Dec 2011
Itay Goldstein
University of Pennsylvania - The Wharton School - Finance Department
Downloads 332 (126,933)
Citation 8

Abstract:

Loading...

Financial Crises, Panic, Fundamentals, Bank Runs, Currency Attacks, Contagion, Twin Crises, Global Games, Identification of Strategic Complementarities

35.

Directors' Ownership in the U.S. Mutual Fund Industry

Number of pages: 55 Posted: 04 May 2005
Qi Chen, Itay Goldstein and Wei Jiang
Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department and Emory University Goizueta Business School
Downloads 326 (129,402)
Citation 6

Abstract:

Loading...

Optimal contracting, mutual funds, board directors

36.

Mutual Fund Flows and Fluctuations in Credit and Business Cycles

Number of pages: 74 Posted: 17 Aug 2016 Last Revised: 14 Oct 2019
Azi Ben-Rephael, Jaewon Choi and Itay Goldstein
Rutgers Business School - Rutgers University, University of Illinois at Urbana-Champaign - Department of Finance and University of Pennsylvania - The Wharton School - Finance Department
Downloads 324 (130,257)
Citation 4

Abstract:

Loading...

Credit Cycle, Business Cycle, Mutual Fund Flows, High-Yield Bonds, Investor Demand, Leading Indicator

37.

Enhancing Prudential Standards in Financial Regulations

FRB of Philadelphia Working Paper No. 14-36
Number of pages: 26 Posted: 23 Dec 2014 Last Revised: 25 Dec 2014
Franklin Allen, Itay Goldstein, Julapa Jagtiani and William W. Lang
Imperial College London, University of Pennsylvania - The Wharton School - Finance Department, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Promontory Financial Group
Downloads 314 (134,465)
Citation 6

Abstract:

Loading...

Financial Stability, Financial Regulations, Systemic Risk, Too Big To Fail, Stress Testing, Resolution Plan, Mortgage Finance

38.

Market Feedback: Evidence from the Horse’s Mouth

Rotman School of Management Working Paper No. 3874756
Number of pages: 44 Posted: 08 Jul 2021
Itay Goldstein, Bibo Liu and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department, Tsinghua University - PBC School of Finance and University of Toronto - Rotman School of Management
Downloads 298 (142,663)
Citation 2

Abstract:

Loading...

Market feedback, corporate investment, learning, financing

39.

Payoff Complementarities and Financial Fragility: Evidence from Mutual Fund Outflows

Number of pages: 50 Posted: 02 Mar 2007
Qi Chen, Itay Goldstein and Wei Jiang
Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department and Emory University Goizueta Business School
Downloads 280 (151,601)
Citation 128

Abstract:

Loading...

Payoff Complementarities, Financial Fragility, Mutual Fund Outflows, Global Games, Liquidity

40.

Financial Fragility in the Covid-19 Crisis: The Case of Investment Funds in Corporate Bond Markets

Downloads 270 (157,277)
Citation 6

Financial Fragility in the Covid-19 Crisis: The Case of Investment Funds in Corporate Bond Markets

NBER Working Paper No. w27559
Number of pages: 65 Posted: 24 Jul 2020 Last Revised: 21 Apr 2022
Antonio Falato, Itay Goldstein and Ali Hortaçsu
Board of Governors of the Federal Reserve System, University of Pennsylvania - The Wharton School - Finance Department and University of Chicago
Downloads 165 (247,736)
Citation 3

Abstract:

Loading...

Financial Fragility in the COVID-19 Crisis: The Case of Investment Funds in Corporate Bond Markets

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2020-98, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 66 Posted: 21 Jul 2020 Last Revised: 12 Aug 2021
Antonio Falato, Itay Goldstein and Ali Hortaçsu
Board of Governors of the Federal Reserve System, University of Pennsylvania - The Wharton School - Finance Department and University of Chicago
Downloads 105 (350,168)
Citation 1

Abstract:

Loading...

41.

Commitment to Overinvest and Price Informativeness

EFA 2006 Zurich Meetings Paper
Number of pages: 40 Posted: 15 Nov 2005
James Dow, Itay Goldstein and Alexander Guembel
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Toulouse School of Economics, University of Toulouse Capitole
Downloads 265 (160,277)
Citation 4

Abstract:

Loading...

Allocational Role of Price, Overinvestment, Price Informativeness, Business Cycles, Real Options, Financial Slack, Corporate Governance

42.

The Interdependence of Bank Capital and Liquidity

BAFFI CAREFIN Centre Research Paper No. 2020-128
Number of pages: 60 Posted: 23 Jan 2020
Elena Carletti, Itay Goldstein and Agnese Leonello
Bocconi University, University of Pennsylvania - The Wharton School - Finance Department and European Central Bank, Financial Research Division
Downloads 240 (176,541)
Citation 8

Abstract:

Loading...

illiquidity, insolvency, fire sales, optimal regulation

43.

Government Intervention and Information Aggregation by Prices

Number of pages: 59 Posted: 15 Mar 2010 Last Revised: 01 Dec 2014
Philip Bond and Itay Goldstein
University of Washington - Michael G. Foster School of Business and University of Pennsylvania - The Wharton School - Finance Department
Downloads 229 (184,626)
Citation 53

Abstract:

Loading...

44.

COVID-19 and Its Impact on Financial Markets and the Real Economy

Number of pages: 25 Posted: 03 Aug 2021
Itay Goldstein, Ralph S. J. Koijen and Holger M. Mueller
University of Pennsylvania - The Wharton School - Finance Department, University of Chicago - Booth School of Business and New York University (NYU) - Department of Finance
Downloads 205 (204,847)

Abstract:

Loading...

45.

The Effects of Biased Self-Perception in Teams

Number of pages: 57 Posted: 13 Nov 2005
Simon Gervais and Itay Goldstein
Duke University - Fuqua School of Business and University of Pennsylvania - The Wharton School - Finance Department
Downloads 192 (217,216)
Citation 6

Abstract:

Loading...

46.

Stress Tests Disclosure: Theory, Practice, and New Perspectives

Goldstein, I., & Leitner, Y. (2022). Stress Test Disclosure: Theory, Practice, and New Perspectives. In J. Farmer, A. Kleinnijenhuis, T. Schuermann, & T. Wetzer (Eds.), Handbook of Financial Stress Testing (pp. 208-223), Cambridge University Press. doi:10.1017/9781108903011.014
Number of pages: 29 Posted: 20 Jul 2020 Last Revised: 18 Mar 2022
Itay Goldstein and Yaron Leitner
University of Pennsylvania - The Wharton School - Finance Department and Washington University in St. Louis, Olin Business School
Downloads 182 (227,589)
Citation 1

Abstract:

Loading...

47.

Market-Based Regulation and the Informational Content of Prices

Downloads 176 (234,249)
Citation 2

Market-Based Regulation and the Informational Content of Prices

Number of pages: 52 Posted: 17 Dec 2006
Philip Bond, Itay Goldstein and Edward S. Prescott
University of Washington - Michael G. Foster School of Business, University of Pennsylvania - The Wharton School - Finance Department and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 156 (259,857)
Citation 1

Abstract:

Loading...

Market-based regulation, Market-based intervention, Price informativeness, Bank supervision

Market-Based Regulation and the Informational Content of Prices

FRB Richmond Working Paper No. 06-12
Number of pages: 54 Posted: 07 Dec 2012
Philip Bond, Itay Goldstein and Edward S. Prescott
University of Washington - Michael G. Foster School of Business, University of Pennsylvania - The Wharton School - Finance Department and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 20 (716,847)
Citation 2

Abstract:

Loading...

rational expectations, regulation, market discipline

48.

Government Guarantees and Financial Stability

Downloads 169 (242,380)
Citation 23

Government Guarantees and Financial Stability

ECB Working Paper No. 2032
Number of pages: 53 Posted: 07 Mar 2017
Franklin Allen, Elena Carletti, Itay Goldstein and Agnese Leonello
Imperial College London, Bocconi University - Department of Finance, University of Pennsylvania - The Wharton School - Finance Department and European Central Bank, Financial Research Division
Downloads 168 (243,920)

Abstract:

Loading...

Panic Runs, Fundamental Runs, Government Guarantees, Bank Moral Hazard

Government Guarantees and Financial Stability

CEPR Discussion Paper No. DP10560
Number of pages: 48 Posted: 27 Apr 2015
Franklin Allen, Elena Carletti, Itay Goldstein and Agnese Leonello
Imperial College London, Bocconi University - Department of Finance, University of Pennsylvania - The Wharton School - Finance Department and European Central Bank, Financial Research Division
Downloads 1 (915,283)
Citation 13
  • Add to Cart

Abstract:

Loading...

bank moral hazard, fundamental runs, government guarantees, panic runs

49.

The Positive Effects of Biased Self-Perceptions in Firms

Downloads 166 (246,104)

The Positive Effects of Biased Self-Perceptions in Firms

Number of pages: 47 Posted: 15 Feb 2007
Simon Gervais and Itay Goldstein
Duke University - Fuqua School of Business and University of Pennsylvania - The Wharton School - Finance Department
Downloads 166 (246,468)
Citation 20

Abstract:

Loading...

Overconfidence, Complementarities, Firm Production and Organization, Leadership, Mergers

The Positive Effects of Biased Self-Perceptions in Firms

Review of Finance, Vol. 11, No. 3, pp. 453-496, 2007
Posted: 14 Jul 2008
Simon Gervais and Itay Goldstein
Duke University - Fuqua School of Business and University of Pennsylvania - The Wharton School - Finance Department

Abstract:

Loading...

D21, D62, L23, G30, G34

50.

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
Michael Bradley, Alon Brav, Itay Goldstein and Wei Jiang
Duke University - Fuqua School of Business, Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department and Emory University Goizueta Business School
Downloads 158 (256,574)
Citation 3

Abstract:

Loading...

51.

Foreign Direct Investment vs. Foreiegn Portfolio Investment

NBER Working Paper No. w11047
Number of pages: 36 Posted: 09 Feb 2005 Last Revised: 10 Mar 2022
Itay Goldstein and Assaf Razin
University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University - Eitan Berglas School of Economics
Downloads 157 (257,920)

Abstract:

Loading...

52.

Trading Frenzy and Its Impact on Real Investment

AFA 2010 Atlanta Meetings Paper
Number of pages: 33 Posted: 17 Mar 2009 Last Revised: 07 Dec 2011
Itay Goldstein, Emre Ozdenoren and Kathy Yuan
University of Pennsylvania - The Wharton School - Finance Department, London Business School and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 150 (267,542)
Citation 4

Abstract:

Loading...

Coordination, Asset price, Feedback, Excess Volatility

53.

Optimal Deposit Insurance

Downloads 113 (330,750)
Citation 6

Optimal Deposit Insurance

Number of pages: 66 Posted: 01 Apr 2020
Eduardo Davila and Itay Goldstein
Yale University - Department of Economics and University of Pennsylvania - The Wharton School - Finance Department
Downloads 110 (339,092)
Citation 6

Abstract:

Loading...

Deposit Insurance, Bank Runs, Bank Regulation, Sufficient Statistics

Optimal Deposit Insurance

NBER Working Paper No. w28676
Number of pages: 52 Posted: 12 Apr 2021 Last Revised: 09 May 2022
Eduardo Davila and Itay Goldstein
Yale University - Department of Economics and University of Pennsylvania - The Wharton School - Finance Department
Downloads 3 (885,106)
  • Add to Cart

Abstract:

Loading...

54.

Liquidity Transformation and Fragility in the US Banking Sector

Downloads 111 (334,978)

Liquidity Transformation and Fragility in the US Banking Sector

Number of pages: 57 Posted: 25 Feb 2021
Rahul Vashishtha, Qi Chen, Itay Goldstein and Zeqiong Huang
Duke University, Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department and Yale School of Management
Downloads 98 (366,679)

Abstract:

Loading...

Liquidity transformation, Bank runs, Strategic complementarity

Liquidity Transformation and Fragility in the Us Banking Sector

NBER Working Paper No. w27815
Number of pages: 58 Posted: 14 Sep 2020 Last Revised: 03 Jul 2022
Qi Chen, Itay Goldstein, Zeqiong Huang and Rahul Vashishtha
Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department, Yale School of Management and Duke University
Downloads 13 (779,952)

Abstract:

Loading...

55.

Three Branches of Theories of Financial Crises

NBER Working Paper No. w18670
Number of pages: 79 Posted: 05 Jan 2013 Last Revised: 06 Jan 2022
Itay Goldstein and Assaf Razin
University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University - Eitan Berglas School of Economics
Downloads 82 (405,777)
Citation 1

Abstract:

Loading...

56.

Globalization of Capital Movements: Potential Disadvantages and their Effect on Israel

Israel Economic Review, Vol. 2, No. 2, pp. 45-78, 2004
Number of pages: 34 Posted: 12 Nov 2012
Yoav Friedmann and Itay Goldstein
Bank of Israel and University of Pennsylvania - The Wharton School - Finance Department
Downloads 82 (405,777)

Abstract:

Loading...

57.

Do Asset Price Bubbles have Negative Real Effects?

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper, University of Miami Business School Research Paper No. 3676682
Number of pages: 55 Posted: 02 Apr 2013
Indraneel Chakraborty, Itay Goldstein and Andrew MacKinlay
University of Miami, University of Pennsylvania - The Wharton School - Finance Department and Virginia Tech
Downloads 78 (417,540)

Abstract:

Loading...

Bank Loans, Housing Shocks, Investment Policy, Leverage

58.

Corporate Responses to Stock Price Fragility

Number of pages: 56 Posted: 20 Apr 2022
Richard Friberg, Itay Goldstein and Kristine Watson Hankins
Stockholm School of Economics - Department of Economics, University of Pennsylvania - The Wharton School - Finance Department and University of Kentucky
Downloads 72 (436,524)

Abstract:

Loading...

financial fragility, precautionary cash, real effects of misvaluation

59.

An Information-Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment: Volatility, Transparency, and Welfare

Downloads 59 (482,848)
Citation 16

An Information-Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment: Volatility, Transparency, and Welfare

NBER Working Paper No. w9426
Number of pages: 47 Posted: 03 Jan 2003 Last Revised: 04 Apr 2022
Itay Goldstein and Assaf Razin
University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University - Eitan Berglas School of Economics
Downloads 37 (596,238)

Abstract:

Loading...

An Information-Based Trade-Off between Foreign Direct Investment and Foreign Portfolio Investment: Volatility, Transparency and Welfare

Number of pages: 49 Posted: 07 Mar 2003
Itay Goldstein and Assaf Razin
University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University - Eitan Berglas School of Economics
Downloads 22 (700,439)
Citation 4
  • Add to Cart

Abstract:

Loading...

60.

Housing Prices and Real Investment: Collateral vs. Crowding-Out Effects

Number of pages: 50 Posted: 03 Sep 2021 Last Revised: 21 Sep 2021
Deeksha Gupta and Itay Goldstein
Carnegie Mellon University and University of Pennsylvania - The Wharton School - Finance Department
Downloads 52 (511,062)

Abstract:

Loading...

Collateral, crowding-out, investment, housing taxes and subsidies

61.

An Information-Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment

NBER Working Paper No. w11757
Number of pages: 36 Posted: 06 Feb 2006 Last Revised: 16 Feb 2022
Itay Goldstein and Assaf Razin
University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University - Eitan Berglas School of Economics
Downloads 51 (515,319)
Citation 4

Abstract:

Loading...

62.

The Interplay Among Financial Regulations, Resilience, and Growth

FRB of Philadelphia Working Paper No. 18-9
Number of pages: 30 Posted: 22 Feb 2018 Last Revised: 18 Jun 2022
Franklin Allen, Itay Goldstein and Julapa Jagtiani
Imperial College London, University of Pennsylvania - The Wharton School - Finance Department and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 48 (528,714)

Abstract:

Loading...

financial reforms, capital regulations, liquidity regulations, too big to fail, living wills, Dodd–Frank Wall Street Reform and Consumer Protection Act, financial stability, interconnectedness

63.

Synchronicity and Fragility

Downloads 40 (567,376)
Citation 1

Synchronicity and Fragility

Number of pages: 61 Posted: 24 Sep 2020 Last Revised: 19 May 2022
Itay Goldstein, Alexandr Kopytov, Lin Shen and Haotian Xiang
University of Pennsylvania - The Wharton School - Finance Department, The University of Hong Kong - Faculty of Business and Economics, INSEAD and Peking University - Department of Finance
Downloads 30 (640,171)

Abstract:

Loading...

Bank Heterogeneity and Financial Stability

NBER Working Paper No. w27376
Number of pages: 57 Posted: 15 Jun 2020 Last Revised: 21 Apr 2022
Itay Goldstein, Alexandr Kopytov, Lin Shen and Haotian Xiang
University of Pennsylvania - The Wharton School - Finance Department, The University of Hong Kong - Faculty of Business and Economics, INSEAD and Peking University - Department of Finance
Downloads 10 (809,421)
Citation 1

Abstract:

Loading...

64.

Liquidity, Institutional Quality and the Composition of International Equity Outflows

NBER Working Paper No. w13723
Number of pages: 42 Posted: 30 Jan 2008 Last Revised: 03 Jul 2022
Itay Goldstein, Assaf Razin and Hui Tong
University of Pennsylvania - The Wharton School - Finance Department, Tel Aviv University - Eitan Berglas School of Economics and International Monetary Fund (IMF)
Downloads 32 (611,397)

Abstract:

Loading...

65.

Liquidity, Institutional Quality and the Composition of International Equity Flows

NBER Working Paper No. w15727
Number of pages: 37 Posted: 08 Feb 2010 Last Revised: 23 Jun 2022
Itay Goldstein, Assaf Razin and Hui Tong
University of Pennsylvania - The Wharton School - Finance Department, Tel Aviv University - Eitan Berglas School of Economics and International Monetary Fund (IMF)
Downloads 24 (664,305)

Abstract:

Loading...

66.

Trading Frenzies and Their Impact on Real Investment

CEPR Discussion Paper No. DP7652
Number of pages: 38 Posted: 08 Feb 2010
Itay Goldstein, Emre Ozdenoren and Kathy Yuan
University of Pennsylvania - The Wharton School - Finance Department, London Business School and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 3 (849,701)
Citation 8
  • Add to Cart

Abstract:

Loading...

Coordination, Financial markets, Heterogenous Information, Learning, Liquidity

67.

Learning and Complementarities: Implications for Speculative Attacks

CEPR Discussion Paper No. DP7651
Number of pages: 50 Posted: 08 Feb 2010
Itay Goldstein, Emre Ozdenoren and Kathy Yuan
University of Pennsylvania - The Wharton School - Finance Department, London Business School and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 2 (862,037)
Citation 3
  • Add to Cart

Abstract:

Loading...

Coordination, Currency attacks, Feedback effects, Financial markets, Global games, Heterogenous information, Strategic complementarities

68.

Financial Regulation in Europe: Foundations and Challenges

CEPR Discussion Paper No. DP11147
Number of pages: 41 Posted: 18 Apr 2016
Thorsten Beck, Elena Carletti and Itay Goldstein
City University London - Sir John Cass Business School, Bocconi University and University of Pennsylvania - The Wharton School - Finance Department
Downloads 1 (876,188)
  • Add to Cart

Abstract:

Loading...

Banking, Basel III, financial stability, regulation

69.

Bank Diversification and Lending Resiliency

Number of pages: 77
Michael Gelman, Itay Goldstein and Andrew MacKinlay
Alfred Lerner College of Business and Economics, The University of Delaware; Wharton School, University of Pennsylvania (visiting), University of Pennsylvania - The Wharton School - Finance Department and Virginia Tech
Downloads 1

Abstract:

Loading...

Bank Diversification, Credit Supply, Financial Crisis, Real Effects

70.

The Interplay between Financial Regulations, Resilience, and Growth

CEPR Discussion Paper No. DP12861
Number of pages: 38 Posted: 16 Apr 2018
Franklin Allen, Itay Goldstein and Julapa Jagtiani
Imperial College London, University of Pennsylvania - The Wharton School - Finance Department and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 0 (893,239)
  • Add to Cart

Abstract:

Loading...

bank capital regulations, bank liquidity, Basel III, CET1, Doddâ?“Frank Act, Financial Stability, high-quality liquid assets (HQLAs)

71.

Managerial Learning from Stock Prices: A Structural Examination

Posted: 22 Nov 2015
Itay Goldstein and Di (Andrew) Wu
University of Pennsylvania - The Wharton School - Finance Department and University of Michigan, Stephen M. Ross School of Business

Abstract:

Loading...

price informativeness

72.

Market-Based Corrective Actions

The Review of Financial Studies, Vol. 23, Issue 2, pp. 781-820, 2009
Posted: 01 Feb 2010
Philip Bond, Itay Goldstein and Edward Simpson Prescott
University of Washington - Michael G. Foster School of Business, University of Pennsylvania - The Wharton School - Finance Department and affiliation not provided to SSRN

Abstract:

Loading...

D53, D80, G14, G21, G28, G34