Alex Edmans

London Business School - Institute of Finance and Accounting

Professor of Finance

Sussex Place

Regent's Park

London NW1 4SA

United Kingdom

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

Centre for Economic Policy Research (CEPR)

London

United Kingdom

  • London Business School - Institute of Finance and Accounting

  • European Corporate Governance Institute (ECGI)

  • Centre for Economic Policy Research (CEPR)

SCHOLARLY PAPERS

51

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152,665

SSRN CITATIONS
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Top 161

in Total Papers Citations

3,798

CROSSREF CITATIONS

1,375

Scholarly Papers (51)

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1.

Does the Carbon Premium Reflect Risk or Mispricing?

European Corporate Governance Institute – Finance Working Paper No. 940/2023
Number of pages: 26 Posted: 25 Sep 2023 Last Revised: 27 Nov 2023
Yigit Atilgan, K. Ozgur Demirtas, Alex Edmans and A. Doruk Gunaydin
Sabanci University, Sabanci University Graduate School of Management, London Business School - Institute of Finance and Accounting and Sabanci University
Downloads 15,528 (440)

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Carbon Premium, Climate Finance, Socially Responsible Investing, Corporate Social Responsibility, ESG Investing

2.

The End of ESG

Financial Management, forthcoming
Number of pages: 31 Posted: 22 Sep 2022 Last Revised: 21 Sep 2023
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 14,523 (497)

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ESG, CSR, responsible business, sustainable investing, intangible assets, externalities

3.

Applying Economics – Not Gut Feel – To ESG

Financial Analysts Journal, forthcoming
Number of pages: 32 Posted: 03 Feb 2023 Last Revised: 23 Aug 2023
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 13,817 (556)
Citation 5

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ESG, SRI, CSR, sustainable investing, responsible business

4.

Does the Stock Market Fully Value Intangibles? Employee Satisfaction and Equity Prices

Journal of Financial Economics 101(3), 621-640, September 2011
Number of pages: 43 Posted: 19 Mar 2008 Last Revised: 19 Dec 2013
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 11,690 (741)
Citation 346

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Employee satisfaction, intangibles, market efficiency, underreaction, mispricing, human capital, socially responsible investing

5.

Learnings From 1,000 Rejections

Number of pages: 39 Posted: 26 Jan 2023 Last Revised: 13 Apr 2023
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 9,023 (1,143)

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6.

The Link Between Job Satisfaction and Firm Value, with Implications for Corporate Social Responsibility

Academy of Management Perspectives 26(4), 1-19, November 2012
Number of pages: 29 Posted: 08 May 2012 Last Revised: 19 Dec 2013
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 5,111 (3,061)
Citation 49

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Human relations, human resource management, job satisfaction, corporate social responsibility

7.

Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around the World

Downloads 4,969 ( 3,222)
Citation 15

Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around the World

Management Science, Forthcoming, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 433/2014
Number of pages: 65 Posted: 02 Jul 2014 Last Revised: 19 Sep 2023
Alex Edmans, Darcy Pu, Chendi Zhang and Lucius Li
London Business School - Institute of Finance and Accounting, London Business School, University of Exeter Business School and KFUPM Business School
Downloads 4,827 (3,339)
Citation 4

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Employee Satisfaction, Labor Market Flexibility, Socially Responsible Investing, Corporate Social Responsibility, ESG Investing

Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around the World

NBER Working Paper No. w20300
Number of pages: 42 Posted: 24 Jul 2014 Last Revised: 21 Jun 2023
Alex Edmans, Lucius Li and Chendi Zhang
London Business School - Institute of Finance and Accounting, KFUPM Business School and University of Exeter Business School
Downloads 135 (363,189)
Citation 2

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Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around the World

CEPR Discussion Paper No. DP10066
Number of pages: 44 Posted: 25 Sep 2014
Alex Edmans, Lucius Li and Chendi Zhang
London Business School - Institute of Finance and Accounting, KFUPM Business School and University of Exeter Business School
Downloads 7 (1,044,752)
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corporate social responsibility, employee satisfaction, labor market flexibility, socially responsible investing

8.

Executive Compensation: A Survey of Theory and Evidence

Downloads 3,989 ( 4,637)
Citation 80

Executive Compensation: A Survey of Theory and Evidence

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 514/2016
Number of pages: 173 Posted: 26 Jun 2017 Last Revised: 30 Jun 2021
Alex Edmans, Xavier Gabaix and Dirk Jenter
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 3,067 (7,087)
Citation 24

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Executive compensation, contracts, principal-agent problem, rent extraction

Executive Compensation: A Survey of Theory and Evidence

CESifo Working Paper Series No. 6585
Number of pages: 169 Posted: 24 Aug 2017
Alex Edmans, Xavier Gabaix and Dirk Jenter
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 816 (52,057)
Citation 20

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executive compensation, CEO compensation, managerial incentives, pay-for-performance, corporate governance

Executive Compensation: A Survey of Theory and Evidence

NBER Working Paper No. w23596
Number of pages: 168 Posted: 17 Jul 2017 Last Revised: 23 Jun 2023
Alex Edmans, Xavier Gabaix and Dirk Jenter
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 104 (441,861)

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Executive Compensation: A Survey of Theory and Evidence

CEPR Discussion Paper No. DP12148
Number of pages: 170 Posted: 18 Jul 2017
Alex Edmans, Xavier Gabaix and Dirk Jenter
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 2 (1,084,893)
Citation 8
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9.

Diversity, Equity, and Inclusion

Downloads 3,920 ( 4,794)

Diversity, Equity, and Inclusion

European Corporate Governance Institute – Finance Working Paper No. 913/2023
Number of pages: 57 Posted: 01 May 2023 Last Revised: 08 Nov 2023
Alex Edmans, Caroline Flammer and Simon Glossner
London Business School - Institute of Finance and Accounting, Columbia University and Board of Governors of the Federal Reserve System
Downloads 3,904 (4,724)

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DEI, diversity, equity, inclusion, ESG, CSR, responsible business

Diversity, Equity, and Inclusion

NBER Working Paper No. w31215
Number of pages: 49 Posted: 08 May 2023 Last Revised: 22 May 2023
Alex Edmans, Caroline Flammer and Simon Glossner
London Business School - Institute of Finance and Accounting, Columbia University and Board of Governors of the Federal Reserve System
Downloads 16 (952,872)
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10.

Sports Sentiment and Stock Returns

Journal of Finance 62(4), 1967-1998, August 2007
Number of pages: 47 Posted: 02 Mar 2005 Last Revised: 20 Dec 2013
Alex Edmans, Diego Garcia and Oyvind Norli
London Business School - Institute of Finance and Accounting, University of Colorado at Boulder - Leeds School of Business and BI Norwegian Business School - Department of Financial Economics
Downloads 3,802 (5,030)
Citation 100

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Football, sports, soccer, sentiment, mood, stock returns, behavioral finance

11.

Blockholders and Corporate Governance

Downloads 3,714 ( 5,261)
Citation 74

Blockholders and Corporate Governance

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 385/2013
Number of pages: 54 Posted: 27 Jun 2013 Last Revised: 16 Oct 2018
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 3,629 (5,366)
Citation 69

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large shareholders, governance, voice, activism, exit, informed trading

Blockholders and Corporate Governance

NBER Working Paper No. w19573
Number of pages: 44 Posted: 25 Oct 2013 Last Revised: 26 Jun 2022
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 83 (512,907)
Citation 4

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Blockholders and Corporate Governance

CEPR Discussion Paper No. DP9708
Number of pages: 45 Posted: 28 Oct 2013
Alex Edmans
London Business School - Institute of Finance and Accounting
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activism, exit, governance, large shareholders, microstructure, voice

Blockholders and Corporate Governance

Annual Review of Financial Economics, Vol. 6, pp. 23-50, 2014
Posted: 25 Nov 2014
Alex Edmans
London Business School - Institute of Finance and Accounting

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12.

Dynamic CEO Compensation

Downloads 3,650 ( 5,426)
Citation 104

Dynamic CEO Compensation

Journal of Finance 67(5), 1603-1647, October 2012
Number of pages: 63 Posted: 18 Mar 2009 Last Revised: 20 Dec 2013
Alex Edmans, Xavier Gabaix, Tomasz Sadzik and Yuliy Sannikov
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics, New York University (NYU) and University of California, Berkeley - Department of Economics
Downloads 3,517 (5,648)
Citation 26

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Contract theory, executive compensation, incentives, principal-agent problem, private saving, manipulation, vesting

Dynamic Incentive Accounts

NBER Working Paper No. w15324
Number of pages: 43 Posted: 08 Sep 2009 Last Revised: 17 May 2023
Alex Edmans, Xavier Gabaix, Tomasz Sadzik and Yuliy Sannikov
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics, New York University (NYU) and University of California, Berkeley - Department of Economics
Downloads 123 (392,733)

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Dynamic Incentive Accounts

CEPR Discussion Paper No. DP7497
Number of pages: 45 Posted: 17 Nov 2009
Alex Edmans, Xavier Gabaix, Tomasz Sadzik and Yuliy Sannikov
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics, New York University (NYU) and University of California, Berkeley - Department of Economics
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Contract theory, executive compensation, incentives, manipulation, principal-agent problem, private saving, vesting

13.

Music Sentiment and Stock Returns Around the World

Downloads 3,602 ( 5,553)
Citation 25

Music Sentiment and Stock Returns Around the World

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 43 Posted: 18 Feb 2021 Last Revised: 14 Aug 2021
Alex Edmans, Adrian Fernandez-Perez, Alexandre Garel and Ivan Indriawan
London Business School - Institute of Finance and Accounting, Auckland University of Technology, Audencia Business School and University of Adelaide
Downloads 3,598 (5,450)

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Investor Sentiment, Investor Mood, Behavioral Finance

Music Sentiment and Stock Returns Around the World

CEPR Discussion Paper No. DP15756
Number of pages: 41 Posted: 11 Feb 2021
Alex Edmans, Adrian Fernandez-Perez, Alexandre Garel and Ivan Indriawan
London Business School - Institute of Finance and Accounting, Auckland University of Technology, Audencia Business School and University of Adelaide
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Citation 7
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14.

Socially Responsible Divestment

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Citation 6

Socially Responsible Divestment

European Corporate Governance Institute – Finance Working Paper No. 823/2022, Proceedings of the EUROFIDAI-ESSEC Paris December Finance Meeting 2022
Number of pages: 62 Posted: 30 Apr 2022 Last Revised: 14 Jul 2023
Alex Edmans, Doron Levit and Jan Schneemeier
London Business School - Institute of Finance and Accounting, University of Washington, Foster School of Business and Indiana University - Kelley School of Business
Downloads 3,444 (5,846)
Citation 8

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Socially responsible investing, sustainable investing, externalities, exclusion, divestment, tilting, exit, governance.

Socially Responsible Divestment

CEPR Discussion Paper No. DP17262
Number of pages: 46 Posted: 27 May 2022
Alex Edmans, Doron Levit and Jan Schneemeier
London Business School - Institute of Finance and Accounting, University of Washington, Foster School of Business and Indiana University - Kelley School of Business
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Citation 1
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Divestment, Exclusion, exit, Externalities, governance, Socially responsible investing, sustainable investing, tilting

15.

Executive Compensation: A Modern Primer

Downloads 3,245 ( 6,575)
Citation 62

Executive Compensation: A Modern Primer

Journal of Economic Literature 54(4), 1232-1287, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 450/2015
Number of pages: 79 Posted: 13 Mar 2015 Last Revised: 10 Feb 2020
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 3,160 (6,744)
Citation 67

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Executive compensation, contract theory, principal-agent problem, rent extraction, optimal contracting

Executive Compensation: A Modern Primer

NBER Working Paper No. w21131
Number of pages: 70 Posted: 04 May 2015 Last Revised: 29 Mar 2023
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 83 (512,907)

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Executive Compensation: A Modern Primer

CEPR Discussion Paper No. DP10566
Number of pages: 71 Posted: 05 May 2015
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
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contract theory, executive compensation, optimal contracting, principal-agent problem, rent extraction

16.

CEO Compensation: Evidence From the Field

Downloads 3,164 ( 6,869)
Citation 16

CEO Compensation: Evidence From the Field

European Corporate Governance Institute – Finance Working Paper No. 771/2021, Journal of Financial Economics (JFE), Forthcoming
Number of pages: 80 Posted: 30 Jun 2021 Last Revised: 13 Oct 2023
Alex Edmans, Tom Gosling and Dirk Jenter
London Business School - Institute of Finance and Accounting, London Business School and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 3,075 (7,070)
Citation 13

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Executive Compensation, Contract Theory, CEO Incentives, Fairness, Survey

CEO Compensation: Evidence from the Field

CESifo Working Paper No. 9162
Number of pages: 67 Posted: 09 Jul 2021
Alex Edmans, Tom Gosling and Dirk Jenter
London Business School - Institute of Finance and Accounting, London Business School and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 88 (494,366)
Citation 3

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CEO Compensation: Evidence from the Field

CEPR Discussion Paper No. DP16315
Number of pages: 69 Posted: 14 Jul 2021
Alex Edmans, Tom Gosling and Dirk Jenter
London Business School - Institute of Finance and Accounting, London Business School and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 1 (1,093,677)
Citation 6
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17.

Blockholders: A Survey of Theory and Evidence

Downloads 3,050 ( 7,258)
Citation 64

Blockholders: A Survey of Theory and Evidence

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 475/2016
Number of pages: 127 Posted: 13 Aug 2016 Last Revised: 08 Jul 2019
Alex Edmans and Clifford G. Holderness
London Business School - Institute of Finance and Accounting and Boston College - Department of Finance
Downloads 3,047 (7,151)
Citation 52

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Large shareholders, blockholders, governance, voice, activism, exit, microstructure, property rights

Blockholders: A Survey of Theory and Evidence

CEPR Discussion Paper No. DP11442
Number of pages: 102 Posted: 22 Aug 2016
Alex Edmans and Clifford G. Holderness
London Business School - Institute of Finance and Accounting and Boston College - Department of Finance
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activism, blockholders, exit, governance, Large shareholders, microstructure, property rights., voice

18.

Financing Through Asset Sales

Downloads 2,967 ( 7,563)
Citation 10

Financing Through Asset Sales

Management Science, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 344/2013, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 56 Posted: 19 Mar 2012 Last Revised: 11 Aug 2020
Alex Edmans and William Mann
London Business School - Institute of Finance and Accounting and Emory University - Department of Finance
Downloads 2,918 (7,636)
Citation 10

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Asset sales, financing, pecking order, synergies

Financing Through Asset Sales

NBER Working Paper No. w18677
Number of pages: 43 Posted: 05 Jan 2013 Last Revised: 15 Jul 2023
Alex Edmans and William Mann
London Business School - Institute of Finance and Accounting and Emory University - Department of Finance
Downloads 48 (685,458)

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Financing Through Asset Sales

CEPR Discussion Paper No. DP9720
Number of pages: 43 Posted: 08 Nov 2013
Alex Edmans and William Mann
London Business School - Institute of Finance and Accounting and Emory University - Department of Finance
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Asset sales, Financing, Pecking order, Synergies

19.

Equity Vesting and Investment

Downloads 2,953 ( 7,626)
Citation 55

Equity Vesting and Investment

Review of Financial Studies, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 379/2013, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 65 Posted: 27 May 2013 Last Revised: 11 Aug 2020
Alex Edmans, Vivian W. Fang and Katharina Lewellen
London Business School - Institute of Finance and Accounting, European Corporate Governance Institute (ECGI) and Dartmouth College - Tuck School of Business
Downloads 2,856 (7,885)
Citation 26

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Investment, Short-Termism, Managerial Myopia, Vesting, CEO Incentives

Equity Vesting and Managerial Myopia

NBER Working Paper No. w19407
Number of pages: 55 Posted: 07 Sep 2013 Last Revised: 13 Jul 2023
Alex Edmans, Vivian W. Fang and Katharina Lewellen
London Business School - Institute of Finance and Accounting, European Corporate Governance Institute (ECGI) and Dartmouth College - Tuck School of Business
Downloads 95 (470,485)
Citation 1

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Equity Vesting and Managerial Myopia

CEPR Discussion Paper No. DP10145
Number of pages: 54 Posted: 25 Sep 2014
Alex Edmans, Vivian W. Fang and Katharina Lewellen
London Business School - Institute of Finance and Accounting, European Corporate Governance Institute (ECGI) and Dartmouth College - Tuck School of Business
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CEO Incentives, Managerial Myopia, Short-Termism, Vesting

20.

The Long-Term Consequences of Short-Term Incentives

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Citation 27

The Long-Term Consequences of Short-Term Incentives

Journal of Accounting Research, forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 527/2017
Number of pages: 57 Posted: 18 Sep 2017 Last Revised: 14 Jan 2022
Alex Edmans, Vivian W. Fang and Allen H. Huang
London Business School - Institute of Finance and Accounting, European Corporate Governance Institute (ECGI) and Hong Kong University of Science and Technology - Department of Accounting
Downloads 2,520 (9,571)
Citation 18

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Repurchases, M&A, Short-Termism, CEO Incentives, Managerial Myopia

The Long-Term Consequences of Short-Term Incentives

CEPR Discussion Paper No. DP12305
Number of pages: 47 Posted: 20 Sep 2017
Alex Edmans, Vivian W. Fang and Allen H. Huang
London Business School - Institute of Finance and Accounting, European Corporate Governance Institute (ECGI) and Hong Kong University of Science and Technology - Department of Accounting
Downloads 1 (1,093,677)
Citation 4
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Repurchases; M&A; Short-Termism; CEO Incentives; Managerial Myopia; Vesting

The Long-Term Consequences of Short-Term Incentives

Journal of Accounting Research, Volume 60, Issue 3, 2022, HKUST Business School Research Paper No. 2022-083
Posted: 11 Oct 2022 Last Revised: 04 Feb 2023
Alex Edmans, Vivian W. Fang and Allen H. Huang
London Business School - Institute of Finance and Accounting, European Corporate Governance Institute (ECGI) and Hong Kong University of Science and Technology - Department of Accounting

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epurchases, M&A, short-termism, CEO incentives, managerial myopia

21.

The Purpose of a Finance Professor

Downloads 2,449 (10,159)

The Purpose of a Finance Professor

European Corporate Governance Institute – Finance Working Paper No.810/2021, Financial Management, forthcoming
Number of pages: 55 Posted: 04 Jan 2022 Last Revised: 24 Jan 2022
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 2,448 (9,974)

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Purpose, citizenship, collegiality, research, teaching, impact, innovation

The Purpose of a Finance Professor

CEPR Discussion Paper No. DP16845
Number of pages: 52 Posted: 04 Feb 2022
Alex Edmans
London Business School - Institute of Finance and Accounting
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Citizenship, collegiality, impact, Innovation, Purpose, Research, teaching

22.

Do Investment Banks Matter for M&A Returns?

Review of Financial Studies, Vol. 24, No. 7, pp. 2286-2315, July 2011, EFA 2007 Ljubljana Meetings Paper
Number of pages: 41 Posted: 21 Dec 2006 Last Revised: 07 Dec 2011
Jack Bao and Alex Edmans
University of Delaware - Department of Finance and London Business School - Institute of Finance and Accounting
Downloads 2,399 (10,558)
Citation 10

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Investment Banking, Persistence, Mergers & Acquisitions

23.

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 2,199 (12,173)
Citation 37

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

24.

Inside Debt

Review of Finance, Vol. 15, No. 1, pp. 75-102, January 2011, EFA 2007 Ljubljana Meetings Paper
Number of pages: 27 Posted: 21 Jul 2005 Last Revised: 07 Dec 2011
Alex Edmans and Qi Liu
London Business School - Institute of Finance and Accounting and Peking University - Department of Finance
Downloads 2,043 (13,655)
Citation 17

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Agency costs of debt, asset substitution, risk shifting, executive compensation, pensions

25.

Is CEO Pay Really Inefficient? A Survey of New Optimal Contracting Theories

Downloads 1,911 (15,183)
Citation 7

Is CEO Pay Really Inefficient? A Survey of New Optimal Contracting Theories

Europen Financial Management, Vol. 15, No. 3, pp. 486-496, June 2009
Number of pages: 13 Posted: 24 Sep 2008 Last Revised: 07 Dec 2011
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 1,649 (18,770)
Citation 2

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Executive compensation, pay-performance sensitivity, rent extraction, optimal contracting

Is CEO Pay Really Inefficient? A Survey of New Optimal Contracting Theories

NYU Working Paper No. FIN-08-026
Number of pages: 13 Posted: 09 Mar 2009 Last Revised: 07 Dec 2011
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 262 (199,964)
Citation 5

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26.

Governance Under Common Ownership

Downloads 1,865 (15,748)
Citation 31

Governance Under Common Ownership

Review of Financial Studies, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 437/2014
Number of pages: 69 Posted: 20 Aug 2014 Last Revised: 26 Apr 2022
Alex Edmans, Doron Levit and Devin Reilly
London Business School - Institute of Finance and Accounting, University of Washington, Foster School of Business and Analysis Group
Downloads 1,801 (16,390)
Citation 13

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Corporate governance, banks, blockholders, monitoring, intervention, exit, trading, common ownership.

Governance and Comovement Under Common Ownership

NBER Working Paper No. w20420
Number of pages: 58 Posted: 03 Sep 2014 Last Revised: 19 Apr 2023
Alex Edmans, Doron Levit and Devin Reilly
London Business School - Institute of Finance and Accounting, University of Washington, Foster School of Business and Analysis Group
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Governance and Comovement Under Common Ownership

CEPR Discussion Paper No. DP10119
Number of pages: 60 Posted: 23 Oct 2014
Alex Edmans, Doron Levit and Devin Reilly
London Business School - Institute of Finance and Accounting, University of Washington, Foster School of Business and Analysis Group
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blockholders, corporate governance, correlation, exit, trading

27.

Strategic News Releases in Equity Vesting Months

Downloads 1,664 (18,809)
Citation 38

Strategic News Releases in Equity Vesting Months

Review of Financial Studies (RFS), Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 440/2014, NBER Working Paper No. w20476, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 58 Posted: 30 Aug 2014 Last Revised: 11 Aug 2020
Alex Edmans, Luis Goncalves-Pinto, Moqi Groen-Xu and Yanbo Wang
London Business School - Institute of Finance and Accounting, University of New South Wales (UNSW), Queen Mary University of London and Sungkyunkwan University (SKK) Graduate School of Business
Downloads 1,608 (19,476)
Citation 17

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Voluntary Disclosure, Equity Vesting, CEO Incentives, News

Strategic News Releases in Equity Vesting Months

NBER Working Paper No. w20476
Number of pages: 49 Posted: 15 Sep 2014 Last Revised: 14 Jun 2023
Alex Edmans, Luis Goncalves-Pinto, Yanbo Wang and Moqi Groen-Xu
London Business School - Institute of Finance and Accounting, University of New South Wales (UNSW), Sungkyunkwan University (SKK) Graduate School of Business and Queen Mary University of London
Downloads 55 (643,614)

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Strategic News Releases in Equity Vesting Months

CEPR Discussion Paper No. DP10144
Number of pages: 51 Posted: 25 Sep 2014
Alex Edmans, Luis Goncalves-Pinto, Yanbo Wang and Moqi Groen-Xu
London Business School - Institute of Finance and Accounting, University of New South Wales (UNSW), Sungkyunkwan University (SKK) Graduate School of Business and Queen Mary University of London
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CEO Incentives, Equity Vesting, News., Voluntary Disclosure

28.

The Effect of Liquidity on Governance

Downloads 1,633 (19,375)
Citation 93

The Effect of Liquidity on Governance

Review of Financial Studies, June 2013, 26(6), 1443-1482. , European Corporate Governance Institute (ECGI) - Finance Working Paper No. 319/2011
Number of pages: 66 Posted: 04 Aug 2011 Last Revised: 23 Oct 2018
Alex Edmans, Vivian W. Fang and Emanuel Zur
London Business School - Institute of Finance and Accounting, European Corporate Governance Institute (ECGI) and University of Maryland - Robert H. Smith School of Business
Downloads 1,570 (20,221)
Citation 53

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Stock Liquidity, Corporate Governance, Hedge Fund Activism, Blockholders, Exit, Voice

The Effect of Liquidity on Governance

NBER Working Paper No. w17567
Number of pages: 48 Posted: 04 Nov 2011 Last Revised: 03 Jul 2022
Alex Edmans, Vivian W. Fang and Emanuel Zur
London Business School - Institute of Finance and Accounting, European Corporate Governance Institute (ECGI) and University of Maryland - Robert H. Smith School of Business
Downloads 63 (600,653)
Citation 1

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29.

The Real Costs of Financial Efficiency When Some Information Is Soft

Downloads 1,593 (20,107)
Citation 32

The Real Costs of Financial Efficiency When Some Information Is Soft

Review of Finance, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 380/2013
Number of pages: 51 Posted: 26 Aug 2013 Last Revised: 20 Oct 2018
Alex Edmans, Mirko Stanislav Heinle and Chong Huang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - Accounting Department and University of California, Irvine - Paul Merage School of Business
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Citation 12

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Financial efficiency, real efficiency, managerial myopia, investment, disclosure, cost of capital

The Real Costs of Disclosure

NBER Working Paper No. w19420
Number of pages: 46 Posted: 14 Sep 2013 Last Revised: 26 Jul 2023
Alex Edmans, Mirko Stanislav Heinle and Chong Huang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - Accounting Department and University of California, Irvine - Paul Merage School of Business
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The Real Costs of Disclosure

CEPR Discussion Paper No. DP9637
Number of pages: 48 Posted: 09 Sep 2013
Alex Edmans, Mirko Stanislav Heinle and Chong Huang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - Accounting Department and University of California, Irvine - Paul Merage School of Business
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cost of capital., Disclosure, financial and real efficiency, investment, managerial myopia

30.

Governance Through Trading and Intervention: A Theory of Multiple Blockholders

Review of Financial Studies, Vol. 24, No. 7, pp. 2395-2428, July 2011, AFA 2009 San Francisco Meetings Paper, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 225/2011, EFA 2008 Athens Meetings Paper, U of Penn, Inst for Law & Econ Research Paper No. 08-09
Number of pages: 37 Posted: 17 Mar 2008 Last Revised: 29 Oct 2018
Alex Edmans and Gustavo Manso
London Business School - Institute of Finance and Accounting and University of California, Berkeley - Haas School of Business
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Citation 91

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Multiple blockholders, corporate governance, market efficiency, informed trading, free-rider problem, Wall Street Rule, voting with your feet

31.

Blockholder Trading, Market Efficiency, and Managerial Myopia

Journal of Finance, Vol. 64, No. 6, pp. 2481-2513, U of Penn, Inst for Law & Econ Research Paper No. 08-08
Number of pages: 35 Posted: 22 Nov 2006 Last Revised: 07 Dec 2011
Alex Edmans
London Business School - Institute of Finance and Accounting
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Citation 155

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Blockholders, market efficiency, myopia, short-termism, intangible investment, Wall Street Rule, voting with your feet

32.

A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium

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Citation 75

A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium

Review of Financial Studies, Vol. 22, No. 12, pp. 4881-4917, December 2009, EFA 2008 Athens Meetings Paper
Number of pages: 42 Posted: 19 Mar 2008 Last Revised: 07 Dec 2011
Alex Edmans, Xavier Gabaix and Augustin Landier
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and HEC
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Citation 75

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Executive compensation, multiplicative preferences, pay-performance sensitivity, incentives, perks, optimal contracting, calibration

A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium

The Review of Financial Studies, Vol. 22, Issue 12, pp. 4881-4917, 2009
Posted: 24 Nov 2009
Alex Edmans, Xavier Gabaix and Augustin Landier
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and HEC

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D2, D3, G34, J3

33.

The Real Effects of Financial Markets

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Citation 254

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 1,141 (32,487)
Citation 117

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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 2023
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
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Citation 144

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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

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34.

The Effect of Risk on the CEO Market

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Citation 62

The Effect of Risk on the CEO Market

Review of Financial Studies 24(8), 2822-2863, August 2011
Number of pages: 44 Posted: 31 Dec 2009 Last Revised: 20 Dec 2013
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
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Citation 18

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Executive compensation, incentives, talent, market equilibrium, risk, assignment

Risk and the CEO Market: Why Do Some Large Firms Hire Highly-Paid, Low-Talent CEOS?

NBER Working Paper No. w15987
Number of pages: 43 Posted: 17 May 2010 Last Revised: 09 Mar 2023
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
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Citation 3

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Risk and the CEO Market: Why Do Some Large Firms Hire Highly-Paid, Low-Talent CEOs?

CEPR Discussion Paper No. DP7836
Number of pages: 45 Posted: 19 Jul 2010
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
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Citation 1
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assignment, executive compensation, incentives, market equilibrium, risk, talent

35.

How Should Performance Signals Affect Contracts?

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Citation 6

How Should Performance Signals Affect Contracts?

Review of Financial Studies, forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 439/2014
Number of pages: 81 Posted: 29 Aug 2014 Last Revised: 03 Aug 2021
Pierre Chaigneau, Alex Edmans and Daniel Gottlieb
Queen's University, London Business School - Institute of Finance and Accounting and London School of Economics
Downloads 937 (42,969)
Citation 5

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informativeness principle, limited liability, option repricing, pay-for-luck, performance-based vesting, performance-sensitive debt

The Informativeness Principle Under Limited Liability

NBER Working Paper No. w20456
Number of pages: 22 Posted: 08 Sep 2014 Last Revised: 25 May 2023
Pierre Chaigneau, Alex Edmans and Daniel Gottlieb
Queen's University, London Business School - Institute of Finance and Accounting and London School of Economics
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The Informativeness Principle Under Limited Liability

CEPR Discussion Paper No. DP10143
Number of pages: 24 Posted: 25 Sep 2014
Pierre Chaigneau, Alex Edmans and Daniel Gottlieb
Queen's University, London Business School - Institute of Finance and Accounting and Paul Baerwald School of Social Work
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Citation 1
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contract theory, Informativeness principle, limited liability, options, pay-for-luck, principal-agent model, relative performance evaluation

How Should Performance Signals Affect Contracts?

CEPR Discussion Paper No. DP15755
Number of pages: 77 Posted: 11 Feb 2021
Pierre Chaigneau, Alex Edmans and Daniel Gottlieb
Queen's University, London Business School - Institute of Finance and Accounting and London School of Economics
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36.

The Responsible Homeowner Reward: An Incentive-Based Solution to Strategic Mortgage Default

Number of pages: 18 Posted: 29 Jun 2010 Last Revised: 07 Dec 2011
Alex Edmans
London Business School - Institute of Finance and Accounting
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Citation 7

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Strategic default, mortgages, incentives, behavioral economics, household finance

37.

The Source of Information in Prices and Investment-Price Sensitivity

Journal of Financial Economics (JFE), Forthcoming, Simon Business School Working Paper No. FR 16-01
Number of pages: 54 Posted: 15 Jan 2016 Last Revised: 24 Dec 2016
Alex Edmans, Sudarshan Jayaraman, Sudarshan Jayaraman and Jan Schneemeier
London Business School - Institute of Finance and Accounting, Simon Business School, University of RochesterUniversity of Rochester - Simon Business School and Indiana University - Kelley School of Business
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Citation 81

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Financial Efficiency; Real Efficiency; Real Effects of Financial Markets; Insider Trading

38.

Feedback Effects, Asymmetric Trading, and the Limits to Arbitrage

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Citation 77

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 855 (48,711)
Citation 29

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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: 17 Jul 2023
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
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Citation 1

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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
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feedback effect, Limits to arbitrage, overinvestment

39.

Does Improved Information Improve Incentives?

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Citation 9

Does Improved Information Improve Incentives?

Journal of Financial Economics (JFE), Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 442/2014
Number of pages: 74 Posted: 24 May 2013 Last Revised: 28 Dec 2022
Pierre Chaigneau, Alex Edmans and Daniel Gottlieb
Queen's University, London Business School - Institute of Finance and Accounting and London School of Economics
Downloads 822 (51,492)
Citation 4

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Executive compensation, limited liability, options, risk management, relative performance evaluation.

The Value of Informativeness for Contracting

NBER Working Paper No. w20542
Number of pages: 60 Posted: 06 Oct 2014 Last Revised: 17 Feb 2023
Pierre Chaigneau, Alex Edmans and Daniel Gottlieb
Queen's University, London Business School - Institute of Finance and Accounting and London School of Economics
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The Value of Informativeness for Contracting

CEPR Discussion Paper No. DP10180
Number of pages: 62 Posted: 06 Oct 2014
Pierre Chaigneau, Alex Edmans and Daniel Gottlieb
Queen's University, London Business School - Institute of Finance and Accounting and Paul Baerwald School of Social Work
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contract theory, informativeness principle, limited liability, options, pay-for-luck, principal-agent model, relative performance evaluation

40.

Sustainable Finance

Review of Finance, 69, 1309-1313 (2022)
Number of pages: 6 Posted: 14 Dec 2022
Alex Edmans and Marcin T. Kacperczyk
London Business School - Institute of Finance and Accounting and Imperial College London - Accounting, Finance, and Macroeconomics
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ESG, sustainable finance, social responsibility

41.

A Theory of Fair CEO Pay

European Corporate Governance Institute – Finance Working Paper No. 865/2022
Number of pages: 44 Posted: 11 Dec 2022 Last Revised: 01 Dec 2023
Pierre Chaigneau, Alex Edmans and Daniel Gottlieb
Queen's University, London Business School - Institute of Finance and Accounting and London School of Economics
Downloads 681 (67,464)
Citation 2

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Executive compensation, fairness, moral hazard

42.

Short-Term Termination Without Deterring Long-Term Investment: A Theory of Debt and Buyouts

Journal of Financial Economics 102(1), 81-101, October 2011
Number of pages: 42 Posted: 08 Jun 2006 Last Revised: 20 Dec 2013
Alex Edmans
London Business School - Institute of Finance and Accounting
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Citation 2

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Termination, liquidation, managerial myopia, ownership concentration, monitoring, leverage, private equity

43.

Contracting with Synergies

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Citation 1

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 543 (87,928)

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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: 09 Feb 2023
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
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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
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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
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complementarities, Contract theory, influence., multiple agents, principal-agent problem, synergies, teams

44.

The Informativeness Principle Without the First-Order Approach

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Citation 3

The Informativeness Principle Without the First-Order Approach

Games and Economic Behavior, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 444/2014
Number of pages: 39 Posted: 19 Nov 2014 Last Revised: 28 Aug 2018
Pierre Chaigneau, Alex Edmans and Daniel Gottlieb
Queen's University, London Business School - Institute of Finance and Accounting and London School of Economics
Downloads 465 (106,317)
Citation 1

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Contract theory, principal-agent model, informativeness principle

The Generalized Informativeness Principle

NBER Working Paper No. w20729
Number of pages: 20 Posted: 08 Dec 2014 Last Revised: 20 Feb 2023
Pierre Chaigneau, Alex Edmans and Daniel Gottlieb
Queen's University, London Business School - Institute of Finance and Accounting and London School of Economics
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The Generalized Informativeness Principle

CEPR Discussion Paper No. DP10279
Number of pages: 21 Posted: 08 Dec 2014
Pierre Chaigneau, Alex Edmans and Daniel Gottlieb
Queen's University, London Business School - Institute of Finance and Accounting and London School of Economics
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Contract theory, informativeness principle., principal-agent model

45.

Tractability in Incentive Contracting

Downloads 455 (110,230)
Citation 47

Tractability in Incentive Contracting

Review of Financial Studies, Forthcoming
Number of pages: 31 Posted: 22 Jul 2008 Last Revised: 07 Dec 2011
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 401 (126,554)
Citation 1

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Contract theory, executive compensation, incentives, principal-agent problem, closed forms, multiperiod contracts, multiperiod games.

Tractability in Incentive Contracting

NBER Working Paper No. w15545
Number of pages: 67 Posted: 01 Dec 2009 Last Revised: 24 Jun 2023
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 50 (673,029)
Citation 3

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Tractability in Incentive Contracting

CEPR Discussion Paper No. DP7578
Number of pages: 69 Posted: 11 Jan 2010
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
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Citation 4
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closed forms, contract theory, dispersive order, executive compensation, incentives, principal-agent problem, subderivative

46.

When Is (Performance-Sensitive) Debt Optimal?

European Corporate Governance Institute – Finance Working Paper 780/2021
Number of pages: 41 Posted: 18 Aug 2021 Last Revised: 13 Jul 2023
Pierre Chaigneau, Alex Edmans and Daniel Gottlieb
Queen's University, London Business School - Institute of Finance and Accounting and London School of Economics
Downloads 314 (167,388)

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informativeness principle, limited liability, performance-sensitive debt

47.

A Primer on Tractable Incentive Contracts

Number of pages: 8 Posted: 24 Jun 2011 Last Revised: 07 Dec 2011
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
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Contract theory, executive compensation, incentives, principal-agent problem, closed forms, multiperiod contracts

48.

A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

Downloads 183 (282,728)
Citation 4

A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

NYU Working Paper No. FIN-07-022
Number of pages: 50 Posted: 03 Nov 2008
Alex Edmans, Xavier Gabaix and Augustin Landier
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and HEC
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A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

NBER Working Paper No. w13372
Number of pages: 51 Posted: 10 Sep 2007 Last Revised: 17 Jul 2022
Alex Edmans, Xavier Gabaix and Augustin Landier
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and HEC
Downloads 68 (576,666)
Citation 1

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49.

Top Dogs and Fat Cats: The Debate on High Pay

Institute of Economic Affairs
Number of pages: 215 Posted: 03 Jun 2021
Alex Edmans, Luke Hildyard, Sophie Jarvis, Damien Knight, Rebecca Lowe, Harry McCreddie, Paul Ormerod, Vicky Pryce, J. R. Shackleton, J. R. Shackleton, Judy Z. Stephenson and Alex Wild
London Business School - Institute of Finance and Accounting, affiliation not provided to SSRN, University of Bristol, affiliation not provided to SSRN, Independent, affiliation not provided to SSRN, University College London - Centre for the Study of Decision-Making Uncertainty, Independent, Westminster Business SchoolInstitute of Economic Affairs (IEA), University College London and affiliation not provided to SSRN
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UK, Britain, wage, salary, employment, corporate governance, business administration, government policy, populism, government regulation, pay ratios

50.

Tractability and Detail-Neutrality in Incentive Contracting

NYU Working Paper No. FIN-08-019
Number of pages: 46 Posted: 09 Mar 2009
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 102 (445,226)

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51.

When is (Performance-Sensitive) Debt Optimal?

CEPR Discussion Paper No. DP16433
Number of pages: 31 Posted: 22 Sep 2021
Alex Edmans
London Business School - Institute of Finance and Accounting
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Informativeness principle, limited liability, performance-sensitive debt