Borja Larrain

Pontificia Universidad Catolica de Chile

Professor

Ave. Vicuna Mackenna 4860, Macul

Santiago

Chile

http://economiayadministracion.uc.cl/personal/blarrain/

SCHOLARLY PAPERS

22

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Top 4,628

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114

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Scholarly Papers (22)

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 429 (65,062)

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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 2010
Borja Larrain and Motohiro Yogo
Pontificia Universidad Catolica de Chile and Princeton University - Department of Economics
Downloads 57 (364,776)

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2.

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 - Sir John Cass Business School
Downloads 294 (101,224)

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ownership dynamics, large shareholders, pyramids, market timing

3.

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

Journal of Finance, Forthcoming
Number of pages: 41 Posted: 08 Mar 2004
Matías Braun and Borja Larrain
Universidad Adolfo Ibanez and Pontificia Universidad Catolica de Chile
Downloads 274 (109,213)

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Credit Channel, Financial Development, Asset Hardness

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 263 (113,397)

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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
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 7 (615,276)

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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, Universidad del Rosario and City University London - Sir John Cass Business School
Downloads 259 (115,820)

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business groups, internal capital markets, expropriation

6.

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 - Sir John Cass Business School
Downloads 170 (172,881)

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7.

What Moves Aggregate Investment?

Number of pages: 56 Posted: 01 Oct 2009 Last Revised: 18 Mar 2010
Long Chen, Zhi Da and Borja Larrain
Cheung Kong Graduate School of Business, University of Notre Dame - Mendoza College of Business and Pontificia Universidad Catolica de Chile
Downloads 161 (181,049)

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

8.

What Moves Investment Growth?

Number of pages: 42 Posted: 18 Mar 2011
Long Chen, Zhi Da and Borja Larrain
Cheung Kong Graduate School of Business, University of Notre Dame - Mendoza College of Business and Pontificia Universidad Catolica de Chile
Downloads 150 (192,179)

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

9.

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 - Sir John Cass Business School
Downloads 136 (208,018)

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Business groups; conglomerates; internal capital markets

10.

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
Universidad Adolfo Ibanez and Pontificia Universidad Catolica de Chile
Downloads 123 (224,892)

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11.

Equity Issues, Market Timing, and Limits to Arbitrage

Number of pages: 59 Posted: 25 Mar 2008
Borja Larrain
Pontificia Universidad Catolica de Chile
Downloads 116 (235,022)

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Equity issues, market timing, limits to arbitrage

12.

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 114 (237,978)

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financial development, financial constraints, volatility

13.

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 111 (242,509)

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

14.

Tunneling Through Share Issuance

Number of pages: 60 Posted: 14 Mar 2012
Borja Larrain
Pontificia Universidad Catolica de Chile
Downloads 98 (264,198)

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tunneling, share issuance, market timing, large shareholders

15.

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 82 (295,566)

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16.

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 74 (313,948)

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17.

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

Number of pages: 62 Posted: 20 Oct 2017 Last Revised: 13 Apr 2019
Pontificia Unievrsidad Católica de Chile, Pontificia Universidad Catolica de Chile, Universidad del Rosario and City University London - Sir John Cass Business School
Downloads 71 (321,229)

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

18.

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 58 (356,464)

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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 - Sir John Cass Business School
Downloads 49 (391,475)

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business groups, development, institutions

Do Business Groups Change with Market Development?

Journal of Economics & Management Strategy, Vol. 25, Issue 3, pp. 750-784, 2016
Number of pages: 35 Posted: 20 Jul 2016
Borja Larrain and Francisco Urzúa I.
Pontificia Universidad Catolica de Chile and City University London - Sir John Cass Business School
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20.

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 - Sir John Cass Business School
Downloads 47 (391,797)

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21.

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
Universidad Adolfo Ibanez and Pontificia Universidad Catolica de Chile

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G12, G14, G15

22.

Do Banks Affect the Level and Composition of Industrial Volatility?

Journal of Finance, Forthcoming
Posted: 14 Jun 2005
Borja Larrain
Pontificia Universidad Catolica de Chile

Abstract:

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Banks, financial constraints, idiosyncratic volatility, volatility, inventories