David Thesmar

Massachusetts Institute of Technology (MIT) - Sloan School of Management

100 Main Street

Cambridge, MA 02142

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

Centre for Economic Policy Research (CEPR)

London

United Kingdom

  • Massachusetts Institute of Technology (MIT) - Sloan School of Management

  • National Bureau of Economic Research (NBER)

  • Centre for Economic Policy Research (CEPR)

SCHOLARLY PAPERS

55

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33,647

SSRN CITATIONS
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1,417

CROSSREF CITATIONS

795

Scholarly Papers (55)

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1.

Stock Price Fragility

Downloads 2,720 ( 6,897)
Citation 57

Stock Price Fragility

Harvard Business School Research Paper No. 1490734
Number of pages: 52 Posted: 21 Oct 2009 Last Revised: 13 Mar 2013
Robin M. Greenwood and David Thesmar
Harvard Business School - Finance Unit and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 2,551 (7,515)
Citation 5

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Stock Price Fragility

Number of pages: 46 Posted: 17 Mar 2010
Robin M. Greenwood and David Thesmar
Harvard Business School - Finance Unit and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 169 (245,115)
Citation 66

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non-fundamental risk, volatiltiy, comovement, destabilizing arbitrage

2.

Sticky Expectations and the Profitability Anomaly

Downloads 2,538 ( 7,700)
Citation 35

Sticky Expectations and the Profitability Anomaly

Journal of Finance, Forthcoming, HEC Paris Research Paper No. FIN-2016-1136, Swiss Finance Institute Research Paper No. 16-60
Number of pages: 45 Posted: 07 Mar 2016 Last Revised: 03 May 2018
Jean-Philippe Bouchaud, Philipp Krueger, Augustin Landier and David Thesmar
Capital Fund Management, University of Geneva - Geneva Finance Research Institute (GFRI), HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 2,537 (7,579)
Citation 11

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Stock market anomalies, Sticky expectations

Sticky Expectations and the Profitability Anomaly

CEPR Discussion Paper No. DP12528
Number of pages: 46 Posted: 02 Jan 2018
Jean-Philippe Bouchaud, Philipp Krueger, Augustin Landier and David Thesmar
Capital Fund Management, University of Geneva - Geneva Finance Research Institute (GFRI), HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1 (931,525)
Citation 20
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profitability anomaly, Sticky expectations

3.

The WACC Fallacy: The Real Effects of Using a Unique Discount Rate

Journal of Finance, Forthcoming, AFA 2012 Chicago Meetings Paper
Number of pages: 62 Posted: 21 Feb 2011 Last Revised: 18 Jul 2014
Philipp Krueger, Augustin Landier and David Thesmar
University of Geneva - Geneva Finance Research Institute (GFRI), HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 2,271 (9,157)
Citation 15

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capital budgeting, cost of capital, behavioral finance, investment

4.

The Excess Returns of 'Quality' Stocks: A Behavioral Anomaly

HEC Paris Research Paper No. FIN-2016-1134
Number of pages: 11 Posted: 18 Jan 2016 Last Revised: 27 Nov 2017
Jean-Philippe Bouchaud, Stefano Ciliberti, Augustin Landier, Guillaume Simon and David Thesmar
Capital Fund Management, Capital Fund Management, HEC, Capital Fund Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 2,081 (10,594)
Citation 4

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Quality anomaly, financial analysts misplaced focus, behavioral biases

5.

Earnings Expectations in the COVID Crisis

Downloads 1,617 ( 15,827)
Citation 10

Earnings Expectations in the COVID Crisis

HEC Paris Research Paper No. FIN-2020-1377
Number of pages: 26 Posted: 09 Jun 2020 Last Revised: 30 Jul 2020
Augustin Landier and David Thesmar
HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1,520 (17,076)
Citation 4

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Analyst Forecasts, Valuation, Discount rate

Earnings Expectations in the Covid Crisis

NBER Working Paper No. w27160
Number of pages: 28 Posted: 18 May 2020 Last Revised: 19 Mar 2022
Augustin Landier and David Thesmar
HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 97 (372,607)
Citation 6

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6.

Investor Horizons and Corporate Policies

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 52 Posted: 21 Oct 2009 Last Revised: 09 Mar 2013
François Derrien, David Thesmar and Ambrus Kecskes
HEC Paris - Finance Department, Massachusetts Institute of Technology (MIT) - Sloan School of Management and York University - Schulich School of Business
Downloads 1,428 (19,098)
Citation 25

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Investor horizons, Institutional investors, Investment, Financing, Payouts, Mispricing, Market timing

7.

The Capacity of Trading Strategies

HEC Paris Research Paper No. FIN-2015-1089
Number of pages: 50 Posted: 27 Mar 2015 Last Revised: 05 Feb 2019
Maxime Bonelli, Augustin Landier, Guillaume Simon and David Thesmar
HEC Paris - Finance Department, HEC, Capital Fund Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1,315 (21,609)
Citation 9

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trading costs, asset pricing anomalies, asset management, arbitrage

8.

Quantifying Reduced-Form Evidence on Collateral Constraints

Number of pages: 74 Posted: 05 Jun 2016 Last Revised: 15 Mar 2021
Sylvain Catherine, Thomas Chaney, Zongbo Huang, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
University of Pennsylvania - Finance Department, SciencesPo - Sciences Po - Department of Economics, The Chinese University of Hong Kong, Shenzhen - School of Management and Economics and Shenzhen Finance Institute, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1,196 (24,880)
Citation 4

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Structural model, Financing Constraint, Aggregate Implications

9.

Banks' Exposure to Interest Rate Risk and the Transmission of Monetary Policy

Number of pages: 72 Posted: 19 Feb 2013 Last Revised: 24 Mar 2020
Matthieu Gomez, Augustin Landier, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
Columbia University, Graduate School of Arts and Sciences, Department of Economics, HEC, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1,187 (25,152)
Citation 4

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Interest rate risk, monetary policy, bank lending

10.

CAPM-Based Company (Mis)valuations

Downloads 1,097 ( 28,211)
Citation 3

CAPM-Based Company (Mis)valuations

Rotman School of Management Working Paper No. 3050928, HEC Paris Research Paper No. FIN-2017-1235
Number of pages: 90 Posted: 11 Oct 2017 Last Revised: 31 Oct 2019
Olivier Dessaint, Jacques Olivier, Clemens A. Otto and David Thesmar
INSEAD, HEC Paris - Finance Department, Singapore Management University - Lee Kong Chian School of Business and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1,096 (27,818)
Citation 2

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Capital Budgeting, Valuation, Mergers and Acquisitions, Capital Asset Pricing Model

CAPM-Based Company (Mis)Valuations

CEPR Discussion Paper No. DP12526
Number of pages: 59 Posted: 02 Jan 2018
Olivier Dessaint, Jacques Olivier, Clemens A. Otto and David Thesmar
INSEAD, HEC Paris - Finance Department, Singapore Management University - Lee Kong Chian School of Business and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1 (931,525)
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11.

The Moral Preferences of Investors: Experimental Evidence

Downloads 1,007 ( 31,848)
Citation 7

The Moral Preferences of Investors: Experimental Evidence

HEC Paris Research Paper No. FIN-2019-1350
Number of pages: 48 Posted: 02 Oct 2019 Last Revised: 05 Jan 2022
Jean-Francois Bonnefon, Augustin Landier, Parinitha Sastry and David Thesmar
University of Toulouse 1 - Toulouse School of Economics Institute for Advanced Studies/Harvard Law School LWP, HEC, Federal Reserve Banks - Federal Reserve Bank of New York and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1,001 (31,672)
Citation 8

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Socially Responsible Investing, Social Impact, Value Alignment, Deontology, Consequentialism

The Moral Preferences of Investors: Experimental Evidence

NBER Working Paper No. w29647
Number of pages: 43 Posted: 18 Jan 2022 Last Revised: 04 Jul 2022
Jean-Francois Bonnefon, Augustin Landier, Parinitha Sastry and David Thesmar
University of Toulouse 1 - Toulouse School of Economics Institute for Advanced Studies/Harvard Law School LWP, HEC, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 6 (863,426)
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12.

How to Use Natural Experiments to Measure Misallocation

Downloads 862 ( 39,661)
Citation 6

How to Use Natural Experiments to Measure Misallocation

Number of pages: 56 Posted: 12 Jan 2018 Last Revised: 08 Feb 2021
David Alexandre Sraer, David Alexandre Sraer and David Thesmar
Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 812 (42,428)

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firm-level experriments; aggregation; misallocation; distorsions

A Sufficient Statistics Approach for Aggregating Firm-Level Experiments

NBER Working Paper No. w24208
Number of pages: 38 Posted: 17 Jan 2018 Last Revised: 23 Feb 2022
David Alexandre Sraer, David Alexandre Sraer and David Thesmar
Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 49 (538,714)
Citation 1

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A Sufficient Statistics Approach for Aggregating Firm-Level Experiments

CEPR Discussion Paper No. DP12592
Number of pages: 40 Posted: 16 Jan 2018
David Alexandre Sraer, David Alexandre Sraer and David Thesmar
Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1 (931,525)
Citation 1
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13.

Financial Contracting with Optimistic Entrepreneurs: Theory and Evidence

AFA 2004 San Diego Meetings
Number of pages: 60 Posted: 20 Dec 2003
Augustin Landier and David Thesmar
HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 858 (39,938)
Citation 101

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14.

Performance and Behavior of Family Firms: Evidence from the French Stock Market

Downloads 822 ( 42,331)
Citation 113

Performance and Behavior of Family Firms: Evidence from the French Stock Market

ECGI - Finance Working Paper No. 130/2006
Number of pages: 65 Posted: 06 Sep 2006
David Alexandre Sraer, David Alexandre Sraer and David Thesmar
Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 776 (45,040)
Citation 129

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Family firms, management style, corporate performance

Performance and Behavior of Family Firms: Evidence from the French Stock Market

Number of pages: 41 Posted: 21 Sep 2004
David Alexandre Sraer, David Alexandre Sraer and David Thesmar
Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 46 (553,344)
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Family firms, management style, corporate performance

15.

Growth LBOs

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 42 Posted: 06 Mar 2009 Last Revised: 28 Sep 2012
Quentin Boucly, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
affiliation not provided to SSRN, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 818 (42,596)
Citation 36

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LBO, Employment, Financial Constraints

16.

Wholesale Funding Dry-Ups

Downloads 808 ( 43,321)
Citation 25

Wholesale Funding Dry-Ups

HEC Paris Research Paper
Number of pages: 66 Posted: 23 Nov 2015 Last Revised: 01 Mar 2017
Christophe Pérignon, David Thesmar and Guillaume Vuillemey
HEC Paris - Finance Department, Massachusetts Institute of Technology (MIT) - Sloan School of Management and HEC Paris - Finance Department
Downloads 789 (44,072)
Citation 24

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wholesale funding, market freeze, certificates of deposits

Wholesale Funding Dry-Ups

ESRB: Working Paper Series No. 2017/49
Number of pages: 68 Posted: 05 Nov 2020
Christophe Pérignon, David Thesmar and Guillaume Vuillemey
HEC Paris - Finance Department, Massachusetts Institute of Technology (MIT) - Sloan School of Management and HEC Paris
Downloads 19 (733,493)
Citation 5

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asymmetric information, market freezes, wholesale bank funding

17.

Social Networks in the Boardroom

Downloads 764 ( 46,598)
Citation 34

Social Networks in the Boardroom

IZA Discussion Paper No. 1940
Number of pages: 53 Posted: 30 Jan 2006
Francis Kramarz and David Thesmar
National Institute of Statistics and Economic Studies (INSEE) - National School for Statistical and Economic Administration (ENSAE) and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 707 (51,031)

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networks, corporate governance

Social Networks in the Boardroom

CEPR Discussion Paper No. 5496
Number of pages: 55 Posted: 23 May 2006
Francis Kramarz and David Thesmar
National Institute of Statistics and Economic Studies (INSEE) - National School for Statistical and Economic Administration (ENSAE) and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 57 (502,861)
Citation 13
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Social networks, corporate governance, board of directors

18.

The Real Effects of Bank Capital Requirements

Downloads 745 ( 48,243)
Citation 42

The Real Effects of Bank Capital Requirements

HEC Paris Research Paper No. FIN-2013-988
Number of pages: 43 Posted: 05 Jul 2013 Last Revised: 18 Sep 2015
Henri Fraisse, Mathias LÉ and David Thesmar
Banque de France - Autorité de contrôle Prudentiel, Banque de France and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 702 (51,524)
Citation 33

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Bank capital ratios, Bank regulation, Credit supply

The Real Effects of Bank Capital Requirements

ESRB: Working Paper Series No. 2017/47
Number of pages: 45 Posted: 05 Nov 2020
Henri Fraisse, Mathias LÉ and David Thesmar
Banque de France - Autorité de contrôle Prudentiel, Banque de France and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 43 (568,835)
Citation 7

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bank capital ratios, bank regulation, credit supply

19.

Biases in Expectations: Experimental Evidence

Downloads 661 ( 56,427)
Citation 12

Biases in Expectations: Experimental Evidence

Number of pages: 41 Posted: 03 Oct 2017 Last Revised: 16 Feb 2020
Augustin Landier, Yueran Ma and David Thesmar
HEC, University of Chicago - Booth School of Business and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 660 (55,813)
Citation 16

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Expectation formation

New Experimental Evidence on Expectations Formation

CEPR Discussion Paper No. DP12527
Number of pages: 62 Posted: 02 Jan 2018
Augustin Landier, Yueran Ma and David Thesmar
HEC, University of Chicago - Booth School of Business and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1 (931,525)
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20.

Can Unemployment Insurance Spur Entrepreneurial Activity? Evidence from France

HEC Paris Research Paper No. FIN-2013-1020
Number of pages: 81 Posted: 23 Sep 2013 Last Revised: 21 Jul 2019
Johan Hombert, Antoinette Schoar, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC Paris - Finance Department, Massachusetts Institute of Technology (MIT) - Sloan School of Management, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 642 (58,585)
Citation 17

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Entrepreneurship; Unemployment Insurance; Crowding Out

21.

The Risk-Shifting Hypothesis: Evidence from Subprime Originations.

AFA 2012 Chicago Meetings Paper
Number of pages: 48 Posted: 17 Mar 2011 Last Revised: 03 Jun 2015
Augustin Landier, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 631 (59,874)
Citation 4

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Risk Shifting, Subprime Mortgages, Monetary Tightening, Real Estate Risk

22.

The Sovereign-Bank Diabolic Loop and Esbies

Downloads 618 ( 61,485)
Citation 71

The Sovereign-Bank Diabolic Loop and Esbies

American Economic Review, Vol. 6, No. 5, May 2016, HEC Paris Research Paper No. FIN-2016-1133, Columbia Business School Research Paper No. 16-12
Number of pages: 14 Posted: 25 Jan 2016 Last Revised: 14 Jun 2016
Markus K. Brunnermeier, Luis Garicano, Luis Garicano, Philip R. Lane, Marco Pagano, Ricardo Reis, Tano Santos, David Thesmar, Stijn Van Nieuwerburgh and Dimitri Vayanos
Princeton University - Department of Economics, Centre for Economic Policy Research (CEPR)IE Business School, Trinity College (Dublin) - Department of Economics, University of Naples Federico II - Department of Economics and Statistics, London School of Economics & Political Science (LSE), Columbia Business School, Massachusetts Institute of Technology (MIT) - Sloan School of Management, Columbia University Graduate School of Business and London School of Economics
Downloads 575 (66,650)
Citation 7

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diabolic loop, sovereign debt crisis, government default, bank default, bailout, ESBies

The Sovereign-Bank Diabolic Loop and Esbies

NBER Working Paper No. w21993
Number of pages: 16 Posted: 15 Feb 2016 Last Revised: 06 Aug 2022
Markus K. Brunnermeier, Luis Garicano, Luis Garicano, Philip R. Lane, Marco Pagano, Ricardo Reis, Tano Santos, David Thesmar, Stijn Van Nieuwerburgh and Dimitri Vayanos
Princeton University - Department of Economics, Centre for Economic Policy Research (CEPR)IE Business School, Trinity College (Dublin) - Department of Economics, University of Naples Federico II - Department of Economics and Statistics, London School of Economics & Political Science (LSE), Columbia Business School, Massachusetts Institute of Technology (MIT) - Sloan School of Management, Columbia University Graduate School of Business and London School of Economics
Downloads 42 (574,161)
Citation 10

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The Sovereign-Bank Diabolic Loop and ESBies

CEPR Discussion Paper No. DP11317
Number of pages: 17 Posted: 13 Jun 2016
Markus K. Brunnermeier, Luis Garicano, Luis Garicano, Philip R. Lane, Marco Pagano, Ricardo Reis, Tano Santos, David Thesmar, Stijn Van Nieuwerburgh and Dimitri Vayanos
Princeton University - Department of Economics, Centre for Economic Policy Research (CEPR)IE Business School, Trinity College (Dublin) - Department of Economics, University of Naples Federico II - Department of Economics and Statistics, London School of Economics & Political Science (LSE), Columbia University, Massachusetts Institute of Technology (MIT) - Sloan School of Management, Columbia University Graduate School of Business and London School of Economics
Downloads 1 (931,525)
Citation 36
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bailout, bank default, diabolic loop, ESBies, government default, sovereign debt crisis

23.

Housing Collateral and Entrepreneurship

Downloads 605 ( 63,174)
Citation 66

Housing Collateral and Entrepreneurship

Journal of Finance, Forthcoming
Number of pages: 36 Posted: 22 Dec 2014 Last Revised: 20 Nov 2015
Martin C. Schmalz, Martin C. Schmalz, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
CEPRUniversity of Oxford - Finance, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 562 (68,580)
Citation 1

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Collateral; Entrepreneurship; Real estate

Housing Collateral and Entrepreneurship

NBER Working Paper No. w19680
Number of pages: 44 Posted: 28 Nov 2013 Last Revised: 11 Apr 2021
Martin C. Schmalz, Martin C. Schmalz, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
CEPRUniversity of Oxford - Finance, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 43 (568,835)
Citation 36

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24.

Vulnerable Banks

Downloads 602 ( 63,594)
Citation 135

Vulnerable Banks

Number of pages: 64 Posted: 20 Nov 2011 Last Revised: 13 Mar 2013
Robin M. Greenwood, Augustin Landier and David Thesmar
Harvard Business School - Finance Unit, HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 553 (69,994)
Citation 2

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systemic risk, deleveraging, liquidity

Vulnerable Banks

NBER Working Paper No. w18537
Number of pages: 46 Posted: 20 Nov 2012 Last Revised: 25 Feb 2022
Robin M. Greenwood, Augustin Landier and David Thesmar
Harvard Business School - Finance Unit, HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 49 (538,714)
Citation 56

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25.

Individual Investors and Volatility

Downloads 574 ( 67,579)
Citation 55

Individual Investors and Volatility

Journal of Finance, Forthcoming, AFA 2009 San Francisco Meetings Paper
Number of pages: 75 Posted: 17 Mar 2008 Last Revised: 13 Mar 2013
Thierry Foucault, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC Paris - Finance Department, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 570 (67,401)
Citation 7

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Idiosyncratic Volatility, Retail Trading, Noise Trading

Individual Investors and Volatility

CEPR Discussion Paper No. DP6915
Number of pages: 47 Posted: 20 Aug 2008
Thierry Foucault, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC Paris - Finance Department, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 4 (887,028)
Citation 9
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Idiosyncratic volatility, Noise trading, Retail investors

26.

When Systematic Strategies Decay

Number of pages: 47 Posted: 18 May 2021 Last Revised: 01 Jul 2021
Antoine Falck, Adam Rej and David Thesmar
Capital Fund Management International Inc., Capital Fund Management International Inc. and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 515 (77,342)

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factor returns, arbitrage, overfitting

27.

Systemic Risk in Clearing Houses: Evidence from the European Repo Market

Downloads 487 ( 82,749)
Citation 18

Systemic Risk in Clearing Houses: Evidence from the European Repo Market

HEC Paris Research Paper No. FIN-2015-1112
Number of pages: 57 Posted: 08 Oct 2014 Last Revised: 09 Oct 2015
Charles Boissel, François Derrien, Evren Ors and David Thesmar
HEC Paris - Finance Department, HEC Paris - Finance Department, HEC Paris - Finance Department and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 455 (88,952)
Citation 12

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repurchase agreement, sovereign debt crisis, LTRO, secured money market lending

Systemic Risk in Clearing Houses: Evidence from the European Repo Market

ESRB: Working Paper Series No. 2016/10
Number of pages: 67 Posted: 05 Nov 2020
Charles Boissel, François Derrien, Evren Örs and David Thesmar
HEC Paris - Finance Department, HEC Paris - Finance Department, HEC Paris - Finance Department and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 32 (633,014)
Citation 8

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repurchase agreement, sovereign debt crisis, LTRO, secured money market lending, clearing houses

28.

Banking Integration and House Price Comovement

Downloads 474 ( 85,497)
Citation 9

Banking Integration and House Price Comovement

HEC Paris Research Paper No. FIN-2013-1023
Number of pages: 57 Posted: 30 Oct 2013 Last Revised: 24 Nov 2017
Augustin Landier, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 452 (89,640)
Citation 8

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Banks; House price comovement; Financial Integration

Banking Integration and House Price Comovement

ESRB: Working Paper Series No. 2017/48
Number of pages: 59 Posted: 05 Nov 2020
Augustin Landier, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 22 (707,999)
Citation 1

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comovement, financial integration, house prices

Banking Integration and House Price Comovement

CEPR Discussion Paper No. DP9754
Number of pages: 54 Posted: 25 Nov 2013
Augustin Landier, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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comovement, financial integration, house prices

Banking Integration and House Price Comovement

CEPR Discussion Paper No. DP10295
Posted: 23 Jan 2015
Augustin Landier, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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banking deregulation, comovement, real estate

29.

Bottom-Up Corporate Governance

Downloads 422 ( 97,979)
Citation 17

Bottom-Up Corporate Governance

NYU Working Paper No. FIN-05-011
Number of pages: 37 Posted: 03 Nov 2008
Augustin Landier and David Thesmar
HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 293 (145,409)

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Bottom-Up Corporate Governance

NYU Working Paper No. CLB-06-007
Number of pages: 48 Posted: 31 Oct 2008
Augustin Landier, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 103 (358,118)

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Bottom-Up Corporate Governance

CEPR Discussion Paper No. 5500
Number of pages: 52 Posted: 23 May 2006
Augustin Landier, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 26 (675,683)
Citation 6
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Corporate governance, corporate performance, acquisition, executives

30.

Noise in Expectations: Evidence from Analyst Forecasts

Downloads 377 (111,498)

Noise in Expectations: Evidence from Analyst Forecasts

Number of pages: 73 Posted: 06 Mar 2021 Last Revised: 19 Jun 2021
Tim de Silva and David Thesmar
Massachusetts Institute of Technology (MIT), Economics, Finance, Accounting (EFA), Students and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 364 (115,119)

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subjective expectations, noise, term structure of expectations, forecast bias, forecast noise, bounded rationality, machine learning

Noise in Expectations: Evidence from Analyst Forecasts

NBER Working Paper No. w28963
Number of pages: 45 Posted: 28 Jun 2021 Last Revised: 20 Feb 2022
Tim de Silva and David Thesmar
Massachusetts Institute of Technology (MIT), Economics, Finance, Accounting (EFA), Students and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 13 (789,510)
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31.

A Quantitative Analysis of Distortions in Managerial Forecasts

Downloads 362 (116,700)
Citation 1

A Quantitative Analysis of Distortions in Managerial Forecasts

Number of pages: 58 Posted: 14 Jun 2018 Last Revised: 21 Sep 2020
Yueran Ma, Tiziano Ropele, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
University of Chicago - Booth School of Business, Bank of Italy, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 261 (163,732)

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Expectation Formation; Misallocation; Corporate Investment

A Quantitative Analysis of Distortions in Managerial Forecasts

Bank of Italy Temi di Discussione (Working Paper) No. 1305
Number of pages: 68 Posted: 10 Dec 2020
Tiziano Ropele, Yueran Ma, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
Bank of Italy, University of Chicago - Booth School of Business, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 78 (426,204)
Citation 1

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expectation formation, misallocation, corporate investment

A Quantitative Analysis of Distortions in Managerial Forecasts

NBER Working Paper No. w26830
Number of pages: 54 Posted: 09 Mar 2020 Last Revised: 24 Apr 2022
Yueran Ma, Tiziano Ropele, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
University of Chicago - Booth School of Business, Bank of Italy, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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32.

Response to Welch (2020): Real Estate Collateral Does Affect Corporate Investment

Number of pages: 21 Posted: 08 Jun 2020
Thomas Chaney, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
SciencesPo - Sciences Po - Department of Economics, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Corporate Investment, Collateral Channel

33.

The Collateral Channel: How Real Estate Shocks Affect Corporate Investment

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Citation 112

The Collateral Channel: How Real Estate Shocks Affect Corporate Investment

Number of pages: 34 Posted: 24 Jan 2011 Last Revised: 13 Mar 2013
Thomas Chaney, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
SciencesPo - Sciences Po - Department of Economics, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 253 (168,891)
Citation 118

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Corporate investment, Real estate, Collateral

The Collateral Channel: How Real Estate Shocks Affect Corporate Investment

NBER Working Paper No. w16060
Number of pages: 30 Posted: 07 Jun 2010 Last Revised: 21 May 2022
Thomas Chaney, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
SciencesPo - Sciences Po - Department of Economics, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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34.

Overcoming Limits of Arbitrage: Theory and Evidence

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Citation 8

Overcoming Limits of Arbitrage: Theory and Evidence

Number of pages: 35 Posted: 03 Mar 2009 Last Revised: 13 Mar 2013
Johan Hombert and David Thesmar
HEC Paris - Finance Department and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 291 (146,490)
Citation 13

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Limits of Arbitrage, Capital Structure, Market Efficiency

Limits of Limits of Arbitrage: Theory and Evidence

CEPR Discussion Paper No. DP7212
Number of pages: 45 Posted: 07 Apr 2009
Johan Hombert and David Thesmar
HEC Paris - Finance Department and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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arbitrageur, capital structure

35.

Overreaction in Expectations: Evidence and Theory

Number of pages: 76 Posted: 18 Nov 2021
Hassan Afrouzi, Spencer Yongwook Kwon, Augustin Landier, Yueran Ma and David Thesmar
Columbia University, Harvard University, HEC, University of Chicago - Booth School of Business and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 292 (146,697)

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expectations, experiment, overreaction

36.

What Works Best in Capital Budgeting?

Number of pages: 42 Posted: 24 Apr 2021 Last Revised: 07 Sep 2021
Nicolas Hommel, Augustin Landier and David Thesmar
Princeton University, HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 260 (164,993)

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Valuation, Present Value Formula, IRR

37.

Is Factor Momentum More than Stock Momentum?

Number of pages: 33 Posted: 27 Oct 2020
Antoine Falck, Adam Rej and David Thesmar
Capital Fund Management International Inc., Capital Fund Management International Inc. and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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factor returns, factor momentum, stock momentum

38.

Instabilities in Large Economies: Aggregate Volatility Without Idiosyncratic Shocks

HEC Paris Research Paper No. FIN-2014-1052
Number of pages: 22 Posted: 21 Jun 2014 Last Revised: 17 Sep 2014
Julius Bonart, Jean-Philippe Bouchaud, Augustin Landier and David Thesmar
Capital Fund Management, Capital Fund Management, HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 194 (217,497)
Citation 5

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volatility of aggregate output, network theory, rational expectations, general equilibrium

39.

Optimal Dissent in Organizations

Number of pages: 34 Posted: 18 Nov 2005
Augustin Landier, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 168 (245,970)
Citation 24

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Organization Design, Corporate Governance, Authority

40.

Sizing Up Corporate Restructuring in the Covid Crisis

NBER Working Paper No. w28104
Number of pages: 41 Posted: 16 Nov 2020 Last Revised: 17 Apr 2022
Robin M. Greenwood, Benjamin Charles Iverson and David Thesmar
Harvard Business School - Finance Unit, Brigham Young University and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Citation 3

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41.

Banks' Exposure to Interest Rate Risk and the Transmission of Monetary Policy

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Citation 13

Banks' Exposure to Interest Rate Risk and the Transmission of Monetary Policy

NBER Working Paper No. w18857
Number of pages: 40 Posted: 01 Mar 2013 Last Revised: 11 Jul 2022
Augustin Landier, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Citation 2

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Banks' Exposure to Interest Rate Risk and the Transmission of Monetary Policy

ESRB: Working Paper Series No. 2016/13
Number of pages: 62 Posted: 05 Nov 2020
Matthieu Gomez, Augustin Landier, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
Columbia University, Graduate School of Arts and Sciences, Department of Economics, HEC, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Citation 8

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interest rate risk, monetary policy, bank lending

Banks Exposure to Interest Rate Risk and the Transmission of Monetary Policy

CEPR Discussion Paper No. DP10300
Number of pages: 43 Posted: 23 Jan 2015
Augustin Landier, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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bank lending, interest rate risk, monetary policy

42.

Regulating Systemic Risk Through Transparency: Tradeoffs in Making Data Public

NBER Working Paper No. w17664
Number of pages: 15 Posted: 17 Dec 2011 Last Revised: 08 Apr 2022
Augustin Landier and David Thesmar
HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 50 (524,703)
Citation 3

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43.

Banking Deregulation and Industry Structure: Evidence from the French Banking Reforms of 1985

CEPR Discussion Paper No. 4488
Number of pages: 42 Posted: 16 Aug 2004
Marianne Bertrand, Antoinette Schoar and David Thesmar
University of Chicago - Booth School of Business, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Citation 21
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Banking deregulation, industry structure, economic development

44.

Who is Neoliberal? Durkheimian Individualism and Support for Market Mechanisms

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Who is Neoliberal? Durkheimian Individualism and Support for Market Mechanisms

Number of pages: 43 Posted: 20 Apr 2022
Augustin Landier and David Thesmar
HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Individualism, Competition, Corporate Social Responsibility

Who is Neoliberal? Durkheimian Individualism and Support for Market Mechanisms

NBER Working Paper No. w29942
Number of pages: 34 Posted: 18 Apr 2022 Last Revised: 23 Apr 2022
Augustin Landier and David Thesmar
HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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45.

The Macroeconomics of Shareholder Pressure

Number of pages: 40 Posted: 22 Aug 2003
David Thesmar
Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Corporate governance, capital assumption, demography, inequality

46.

Globalization and the Demand for Skill: An Export Based Channel

Number of pages: 38 Posted: 25 Jul 2002
Eric Maurin, Mathias Thoenig and David Thesmar
Paris School of Economics (PSE), Ecole Nationale des Ponts et Chaussées (ENPC) - Centre d'Enseignement et de Recherche en Analyse Socio-Economique (CERAS) and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Trade, exportations, labour demand, organization of production

47.

Financial Market Development and the Rise in Firm Level Uncertainty

Number of pages: 48 Posted: 15 Feb 2005
Mathias Thoenig and David Thesmar
Ecole Nationale des Ponts et Chaussées (ENPC) - Centre d'Enseignement et de Recherche en Analyse Socio-Economique (CERAS) and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Financial development, firm-level uncertainty, risk sharing

48.

Time Based Competition and Innovation

Number of pages: 24 Posted: 02 May 2002
Mathias Thoenig and David Thesmar
Ecole Nationale des Ponts et Chaussées (ENPC) - Centre d'Enseignement et de Recherche en Analyse Socio-Economique (CERAS) and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Firm organisation, reactivity, innovation, competition

49.

Can Unemployment Insurance Spur Entrepreneurial Activity?

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Citation 4

Can Unemployment Insurance Spur Entrepreneurial Activity?

NBER Working Paper No. w20717
Number of pages: 70 Posted: 01 Dec 2014 Last Revised: 11 Aug 2022
Johan Hombert, Antoinette Schoar, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC Paris - Finance Department, Massachusetts Institute of Technology (MIT) - Sloan School of Management, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Can Unemployment Insurance Spur Entrepreneurial Activity?

CEPR Discussion Paper No. DP10294
Number of pages: 71 Posted: 23 Jan 2015
Johan Hombert, Antoinette Schoar, David Alexandre Sraer, David Alexandre Sraer and David Thesmar
HEC Paris - Finance Department, Massachusetts Institute of Technology (MIT) - Sloan School of Management, Princeton UniversityUniversity of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Citation 5
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Crowding out, Entrepreneurship, Unemployment

50.

Changes in the Functional Structure of Firms and the Demand for Skill

Number of pages: 51 Posted: 16 May 2003
Eric Maurin and David Thesmar
Paris School of Economics (PSE) and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 19 (710,099)
Citation 1
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Skill, tasks, technological change

51.

Overreaction and Working Memory

NBER Working Paper No. w27947
Number of pages: 46 Posted: 19 Oct 2020 Last Revised: 13 May 2022
Hassan Afrouzi, Spencer Yongwook Kwon, Augustin Landier, Yueran Ma and David Thesmar
Columbia University, Harvard University, HEC, University of Chicago - Booth School of Business and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 16 (734,908)
Citation 3

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52.

Contrasting Trends in Firm Volatility: Theory and Evidence

CEPR Discussion Paper No. DP7135
Number of pages: 43 Posted: 18 Feb 2009
David Thesmar and Mathias Thoenig
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Ecole Nationale des Ponts et Chaussées (ENPC) - Centre d'Enseignement et de Recherche en Analyse Socio-Economique (CERAS)
Downloads 6 (830,615)
Citation 1
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Financial Integration, Firm-level Volatility, Listed vs non-listed Firms, Stockmarket Participation

53.

Is Factor Momentum Greater Than Stock Momentum?

Journal of Investment Strategies, Vol. 10, No. 4, 2022
Posted: 09 Jun 2022
Antoine Falck, Adam Rej and David Thesmar
Capital Fund Management International Inc., Capital Fund Management International Inc. and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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asset pricing, factor returns, factor momentum, stock momentum, mean reversion

54.

Financial Contracting with Optimistic Entrepreneurs

The Review of Financial Studies, Vol. 22, No. 1, pp. 117-150, 2009
Posted: 03 Jan 2009
Augustin Landier and David Thesmar
HEC and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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G32, D86

55.

Identifying Dynamic Discrete Decision Processes

Posted: 04 Oct 2002
Thierry Magnac and David Thesmar
Toulouse School of Economics and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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Dynamic discrete choice processes, identification