Borja Larrain

Pontificia Universidad Catolica de Chile

Professor

Ave. Vicuna Mackenna 4860, Macul

Santiago

Chile

http://sites.google.com/view/borja-larrain

SCHOLARLY PAPERS

26

DOWNLOADS
Rank 18,375

SSRN RANKINGS

Top 18,375

in Total Papers Downloads

5,095

SSRN CITATIONS
Rank 4,040

SSRN RANKINGS

Top 4,040

in Total Papers Citations

201

CROSSREF CITATIONS

239

Scholarly Papers (26)

Does Firm Value Move Too Much to Be Justified By Subsequent Changes in Cash Flow?

Journal of Financial Economics (JFE), Vol. 87, No. 1, 2008
Number of pages: 55 Posted: 04 Mar 2006 Last Revised: 17 Jun 2009
Borja Larrain and Motohiro Yogo
Pontificia Universidad Catolica de Chile and Princeton University - Department of Economics
Downloads 512 (100,732)

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Asset valuation, Excess volatility, Payout policy, Valuation ratio

Does Firm Value Move Too Much to Be Justified by Subsequent Changes in Cash Flow?

NBER Working Paper No. w12847
Number of pages: 56 Posted: 20 Jan 2007 Last Revised: 10 Aug 2022
Borja Larrain and Motohiro Yogo
Pontificia Universidad Catolica de Chile and Princeton University - Department of Economics
Downloads 82 (553,351)
Citation 12

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Destabilizing Financial Advice: Evidence from Pension Fund Reallocations

Forthcoming: Review of Financial Studies
Number of pages: 52 Posted: 02 Feb 2015 Last Revised: 10 Jan 2018
Zhi Da, Borja Larrain, Clemens Sialm and José Tessada
University of Notre Dame - Mendoza College of Business, Pontificia Universidad Catolica de Chile, University of Texas at Austin - McCombs School of Business and Business School, Pontificia Universidad Católica
Downloads 377 (144,496)
Citation 6

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Coordinated Noise Trading, Pension Funds, Price Pressure, Financial Advisors, Social Media

Coordinated Noise Trading: Evidence from Pension Fund Reallocations

NBER Working Paper No. w22161
Number of pages: 50 Posted: 11 Apr 2016 Last Revised: 22 Jul 2023
Zhi Da, Borja Larrain, Clemens Sialm and José Tessada
University of Notre Dame - Mendoza College of Business, Pontificia Universidad Catolica de Chile, University of Texas at Austin - McCombs School of Business and Business School, Pontificia Universidad Católica
Downloads 55 (689,122)

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The Effects of Going Public on Firm Profitability and Strategy

Tuck School of Business Working Paper No. 3830690
Number of pages: 65 Posted: 21 Apr 2021 Last Revised: 27 Mar 2023
Pontificia Universidad Catolica de Chile, Dartmouth College - Tuck School of Business, Universidad de los Andes, Chile and City University London - Bayes Business School
Downloads 366 (149,413)

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IPOs, Profitability, Commercialization, Instrumental Variables, Selection, Treatment

The Effects of Going Public on Firm Performance and Commercialization Strategy: Evidence from International Ipos

NBER Working Paper No. w29219
Number of pages: 64 Posted: 13 Sep 2021 Last Revised: 04 May 2023
Pontificia Universidad Catolica de Chile, Dartmouth College - Tuck School of Business, Universidad de los Andes, Chile and City University London - Bayes Business School
Downloads 35 (831,353)

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4.

Ownership Dynamics with Large Shareholders: An Empirical Analysis

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 86 Posted: 29 Nov 2011
affiliation not provided to SSRN, Pontificia Universidad Catolica de Chile and City University London - Bayes Business School
Downloads 332 (167,430)
Citation 3

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ownership dynamics, large shareholders, pyramids, market timing

5.

The Internal Capital Markets of Business Groups: Evidence from Intra-Group Loans

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 66 Posted: 14 Oct 2013
Pontificia Unievrsidad Católica de Chile, Pontificia Universidad Catolica de Chile, Einaudi Institute for Economics and Finance (EIEF) and City University London - Bayes Business School
Downloads 325 (171,313)
Citation 37

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business groups, internal capital markets, expropriation

6.

Finance and the Business Cycle: International, Inter-Industry Evidence

Number of pages: 41 Posted: 08 Mar 2004
Matías Braun and Borja Larrain
ESE Business School, Universidad de los Andes and Pontificia Universidad Catolica de Chile
Downloads 323 (172,438)
Citation 15

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Credit Channel, Financial Development, Asset Hardness

7.

The Effects of Losing Business Group Affiliation

Forthcoming Review Financial Studies
Number of pages: 72 Posted: 09 May 2016 Last Revised: 19 Apr 2018
Pontificia Universidad Catolica de Chile, Universidad de los Andes, Chile and City University London - Bayes Business School
Downloads 273 (205,392)
Citation 6

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Business groups; conglomerates; internal capital markets

8.

Pension Fund Flows, Exchange Rates, and Covered Interest Rate Parity

Number of pages: 75 Posted: 15 Oct 2022 Last Revised: 30 Nov 2023
Felipe Aldunate, Zhi Da, Borja Larrain and Clemens Sialm
Universidad de los Andes, Chile - ESE Business School, University of Notre Dame - Mendoza College of Business, Pontificia Universidad Catolica de Chile and University of Texas at Austin - McCombs School of Business
Downloads 245 (228,703)

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Exchange Rates; CIP Deviations; Pension Funds; Market Efficiency

9.

Controlling Shareholders and Market Timing in Share Issuance

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 73 Posted: 18 Mar 2011 Last Revised: 28 Mar 2013
Borja Larrain and Francisco Urzúa I.
Pontificia Universidad Catolica de Chile and City University London - Bayes Business School
Downloads 241 (232,440)
Citation 6

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10.

What Moves Investment Growth?

Number of pages: 42 Posted: 18 Mar 2011
Long Chen, Long Chen, Zhi Da and Borja Larrain
Cheung Kong Graduate School of BusinessLuohan Academy, University of Notre Dame - Mendoza College of Business and Pontificia Universidad Catolica de Chile
Downloads 201 (275,695)
Citation 4

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aggregate investment, variance decomposition, q-theory, earnings shocks, cash flow news, discount rate news

11.

What Moves Aggregate Investment?

Number of pages: 56 Posted: 01 Oct 2009 Last Revised: 18 Mar 2010
Long Chen, Long Chen, Zhi Da and Borja Larrain
Cheung Kong Graduate School of BusinessLuohan Academy, University of Notre Dame - Mendoza College of Business and Pontificia Universidad Catolica de Chile
Downloads 200 (276,885)
Citation 2

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aggregate investment, variance decomposition, q-theory, earnings shocks, cash flow news, discount rate news.

12.

How Do Internal Capital Markets Work? Evidence from the Great Recession

Number of pages: 63 Posted: 20 Oct 2017 Last Revised: 03 Sep 2019
Pontificia Unievrsidad Católica de Chile, Pontificia Universidad Catolica de Chile, Einaudi Institute for Economics and Finance (EIEF) and City University London - Bayes Business School
Downloads 167 (324,975)
Citation 2

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internal capital markets, great recession, business groups, centrality, control rights

13.

Ownership Concentration and Firm Value: New Evidence from Owner Stakes in IPOs

Forthcoming, Management Science
Number of pages: 76 Posted: 20 May 2020 Last Revised: 12 Jun 2023
Pontificia Universidad Catolica de Chile, Rotterdam School of Management, Erasmus University, Universidad de los Andes, Chile and City University London - Bayes Business School
Downloads 156 (344,352)

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ownership; firm value; instrumental variables; IPOs

14.

Financial Development, Financial Constraints, and the Volatility of Industrial Output

FRB of Boston Public Policy Discussion Paper No. 04-6
Number of pages: 50 Posted: 04 Mar 2006
Borja Larrain
Pontificia Universidad Catolica de Chile
Downloads 150 (355,615)
Citation 3

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financial development, financial constraints, volatility

15.

Supply Matters for Asset Prices: Evidence from Ipos in Emerging Markets

Review of Financial Studies, Forthcoming
Number of pages: 38 Posted: 08 Mar 2006 Last Revised: 25 Feb 2008
Matías Braun and Borja Larrain
ESE Business School, Universidad de los Andes and Pontificia Universidad Catolica de Chile
Downloads 149 (357,561)
Citation 4

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16.

Equity Issues, Market Timing, and Limits to Arbitrage

Number of pages: 59 Posted: 25 Mar 2008
Borja Larrain
Pontificia Universidad Catolica de Chile
Downloads 138 (379,901)
Citation 1

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Equity issues, market timing, limits to arbitrage

17.

Investor Protection and Corporate Control

Journal of Corporate Finance, Forthcoming
Number of pages: 47 Posted: 11 Oct 2017
Borja Larrain, Matias Tapia and Francisco Urzúa I.
Pontificia Universidad Catolica de Chile, Instituto de Economía, Pontificia Universidad Catolica de Chile and City University London - Bayes Business School
Downloads 133 (391,131)
Citation 2

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18.

Do Banks Affect the Level and Composition of Industrial Volatility and How?

Number of pages: 56 Posted: 12 Oct 2004
Borja Larrain
Pontificia Universidad Catolica de Chile
Downloads 131 (395,726)
Citation 3

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Banks, financial constraints, financial development, idiosyncratic volatility, volatility

19.

Tunneling Through Share Issuance

Number of pages: 60 Posted: 14 Mar 2012
Borja Larrain
Pontificia Universidad Catolica de Chile
Downloads 123 (415,282)

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tunneling, share issuance, market timing, large shareholders

20.

CEO Compensation Among Firms Controlled by Large Shareholders: Evidence from Emerging Markets

Pontificia Universidad Catolica de Chile Documento de Trabajo No. 381, 2010
Number of pages: 50 Posted: 03 Dec 2010
Francisco A. Gallego and Borja Larrain
Pontificia Universidad Catolica de Chile and Pontificia Universidad Catolica de Chile
Downloads 106 (463,516)
Citation 1

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21.

The Stock Market and Cross Country Differences in Relative Prices

FRB of Boston Working Paper No. 05-6
Number of pages: 47 Posted: 26 Jul 2005
Borja Larrain
Pontificia Universidad Catolica de Chile
Downloads 102 (476,388)
Citation 1

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22.

International Risk-Taking, Volatility, and Consumption Growth

FRB of Boston Working Paper No. 06-17
Number of pages: 64 Posted: 17 Dec 2006
Maria Giduskova and Borja Larrain
Federal Reserve Bank of Boston and Pontificia Universidad Catolica de Chile
Downloads 84 (539,333)

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23.

Do Business Groups Change with Market Development?

Journal of Economics & Management Strategy, Forthcoming
Number of pages: 57 Posted: 29 Jul 2015
Borja Larrain and Francisco Urzúa I.
Pontificia Universidad Catolica de Chile and City University London - Bayes Business School
Downloads 81 (551,249)
Citation 3

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business groups, development, institutions

24.

Non-Fundamental Flows and Foreign Exchange Rates

NBER Working Paper No. w30753
Number of pages: 54 Posted: 19 Dec 2022 Last Revised: 13 Jul 2023
Felipe Aldunate, Zhi Da, Borja Larrain and Clemens Sialm
Universidad de los Andes, University of Notre Dame - Mendoza College of Business, Pontificia Universidad Catolica de Chile and University of Texas at Austin - McCombs School of Business
Downloads 8 (1,057,643)
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25.

Do Ipos Affect the Prices of Other Stocks? Evidence from Emerging Markets

The Review of Financial Studies, Vol. 22, Issue 4, pp. 1505-1544, 2009
Posted: 23 Mar 2009 Last Revised: 04 May 2012
Matías Braun and Borja Larrain
ESE Business School, Universidad de los Andes and Pontificia Universidad Catolica de Chile

Abstract:

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G12, G14, G15

26.

Do Banks Affect the Level and Composition of Industrial Volatility?

Posted: 14 Jun 2005
Borja Larrain
Pontificia Universidad Catolica de Chile

Abstract:

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Banks, financial constraints, idiosyncratic volatility, volatility, inventories