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 ECARES ULB CP 114

B-1050 Brussels

Belgium

Centre for Economic Policy Research (CEPR)

77 Bastwick Street

London, EC1V 3PZ

United Kingdom

SCHOLARLY PAPERS

38

DOWNLOADS
Rank 183

SSRN RANKINGS

Top 183

in Total Papers Downloads

52,216

CITATIONS
Rank 725

SSRN RANKINGS

Top 725

in Total Papers Citations

705

Scholarly Papers (38)

1.

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 8,884 (338)
Citation 48

Abstract:

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

2.
Downloads 3,035 ( 2,593)
Citation 25

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
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 2,979 (2,623)
Citation 25

Abstract:

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
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 49 (328,234)
Citation 25

Abstract:

Dynamic Incentive Accounts

CEPR Discussion Paper No. DP7497
Number of pages: 45 Posted: 17 Nov 2009
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 7 (523,328)
Citation 25
  • Add to Cart

Abstract:

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

3.
Downloads 2,683 ( 3,239)

Blockholders and Corporate Governance

ECGI - Finance Working Paper No. 385
Number of pages: 48 Posted: 27 Jun 2013 Last Revised: 10 Aug 2016
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 2,651 (3,233)

Abstract:

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
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 31 (392,838)

Abstract:

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
Downloads 1 (560,814)
  • Add to Cart

Abstract:

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

Abstract:

4.

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 2,674 (2,510)
Citation 3

Abstract:

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

5.

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 2,577 (2,910)
Citation 61

Abstract:

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

6.
Downloads 2,505 ( 3,660)
Citation 1

Executive Compensation: A Modern Primer

Journal of Economic Literature, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 450/2015
Number of pages: 73 Posted: 13 Mar 2015 Last Revised: 13 Aug 2016
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 2,472 (3,648)
Citation 1

Abstract:

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
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 32 (388,442)
Citation 1
  • Add to Cart

Abstract:

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
Downloads 1 (560,814)
Citation 1
  • Add to Cart

Abstract:

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

7.
Downloads 2,114 ( 4,885)
Citation 2

Equity Vesting and Investment

Review of Financial Studies, Forthcoming, ECGI - Finance Working Paper No. 379/2013
Number of pages: 59 Posted: 27 May 2013 Last Revised: 16 Dec 2016
London Business School - Institute of Finance and Accounting, University of Minnesota - Twin Cities - Department of Accounting and Tuck School of Business at Dartmouth
Downloads 2,095 (4,866)
Citation 2

Abstract:

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
London Business School - Institute of Finance and Accounting, University of Minnesota - Twin Cities - Department of Accounting and Tuck School of Business at Dartmouth
Downloads 19 (456,002)
Citation 2

Abstract:

Equity Vesting and Managerial Myopia

CEPR Discussion Paper No. DP10145
Number of pages: 54 Posted: 25 Sep 2014
London Business School - Institute of Finance and Accounting, University of Minnesota - Twin Cities - Department of Accounting and Tuck School of Business at Dartmouth
Downloads 0
Citation 2
  • Add to Cart

Abstract:

CEO Incentives, Managerial Myopia, Short-Termism, Vesting

8.

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 Columbia Business School - Finance and Economics
Downloads 1,826 (6,226)
Citation 44

Abstract:

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

9.

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
Board of Governors of the Federal Reserve System and London Business School - Institute of Finance and Accounting
Downloads 1,808 (5,497)
Citation 16

Abstract:

Investment Banking, Persistence, Mergers & Acquisitions

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

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 433/2014
Number of pages: 55 Posted: 02 Jul 2014 Last Revised: 22 Feb 2017
Alex Edmans, Lucius Li and Chendi Zhang
London Business School - Institute of Finance and Accounting, Department of Finance, London School of Economics and University of Warwick - Finance Group
Downloads 1,780 (6,414)
Citation 1

Abstract:

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

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

NBER Working Paper No. w20300
Number of pages: 42 Posted: 24 Jul 2014
Alex Edmans, Lucius Li and Chendi Zhang
London Business School - Institute of Finance and Accounting, Department of Finance, London School of Economics and University of Warwick - Finance Group
Downloads 28 (406,779)
Citation 1
  • Add to Cart

Abstract:

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, Department of Finance, London School of Economics and University of Warwick - Finance Group
Downloads 5 (533,314)
Citation 1
  • Add to Cart

Abstract:

corporate social responsibility, employee satisfaction, labor market flexibility, socially responsible investing

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 1,563 (8,026)
Citation 32

Abstract:

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 214 (114,812)
Citation 32

Abstract:

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

European Financial Management, Vol. 15, Issue 3, pp. 486-496, June 2009
Number of pages: 11 Posted: 27 May 2009
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 1 (560,814)
Citation 32
  • Add to Cart

Abstract:

12.

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 1,625 (6,764)
Citation 42

Abstract:

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

13.
Downloads 1,392 ( 9,909)
Citation 1

Financing Through Asset Sales

ECGI - Finance Working Paper No. 344/2013
Number of pages: 48 Posted: 19 Mar 2012 Last Revised: 31 Jan 2017
Alex Edmans and William Mann
London Business School - Institute of Finance and Accounting and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 1,384 (9,791)
Citation 1

Abstract:

Asset sales, financing, pecking order, synergies

Financing Through Asset Sales

NBER Working Paper No. w18677
Number of pages: 43 Posted: 05 Jan 2013
Alex Edmans and William Mann
London Business School - Institute of Finance and Accounting and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 8 (518,034)
Citation 1

Abstract:

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 University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 0
Citation 1
  • Add to Cart

Abstract:

Asset sales, Financing, Pecking order, Synergies

14.
Downloads 1,373 ( 10,146)
Citation 12

The Effect of Liquidity on Governance

Review of Financial Studies, June 2013, 26(6), 1443-1482. , ECGI - Finance Working Paper No. 319/2011
Number of pages: 60 Posted: 04 Aug 2011 Last Revised: 05 Dec 2013
Alex Edmans, Vivian W. Fang and Emanuel Zur
London Business School - Institute of Finance and Accounting, University of Minnesota - Twin Cities - Department of Accounting and University of Maryland - Robert H. Smith School of Business
Downloads 1,339 (10,348)
Citation 12

Abstract:

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
Alex Edmans, Vivian W. Fang and Emanuel Zur
London Business School - Institute of Finance and Accounting, University of Minnesota - Twin Cities - Department of Accounting and University of Maryland - Robert H. Smith School of Business
Downloads 34 (380,276)
Citation 12

Abstract:

15.

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, ECGI - Finance Working Paper No. 225/2008, EFA 2008 Athens Meetings Paper, U of Penn, Inst for Law & Econ Research Paper No. 08-09
Number of pages: 31 Posted: 17 Mar 2008 Last Revised: 07 Dec 2011
Alex Edmans and Gustavo Manso
London Business School - Institute of Finance and Accounting and University of California, Berkeley - Haas School of Business
Downloads 1,265 (10,676)
Citation 41

Abstract:

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

16.

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
Downloads 1,242 (10,748)
Citation 78

Abstract:

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

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 Toulouse School of Economics
Downloads 1,145 (13,278)
Citation 91

Abstract:

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 Toulouse School of Economics

Abstract:

D2, D3, G34, J3

The Real Costs of Financial Efficiency When Some Information Is Soft

Review of Finance, Forthcoming
Number of pages: 45 Posted: 26 Aug 2013 Last Revised: 14 May 2016
London Business School - Institute of Finance and Accounting, University of Pennsylvania - Accounting Department and University of California, Irvine - Paul Merage School of Business
Downloads 1,098 (14,156)
Citation 1

Abstract:

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
London Business School - Institute of Finance and Accounting, University of Pennsylvania - Accounting Department and University of California, Irvine - Paul Merage School of Business
Downloads 18 (461,598)
Citation 1

Abstract:

The Real Costs of Disclosure

CEPR Discussion Paper No. DP9637
Number of pages: 48 Posted: 09 Sep 2013
London Business School - Institute of Finance and Accounting, University of Pennsylvania - Accounting Department and University of California, Irvine - Paul Merage School of Business
Downloads 0
Citation 1
  • Add to Cart

Abstract:

cost of capital., Disclosure, financial and real efficiency, investment, managerial myopia

Strategic News Releases in Equity Vesting Months

NBER Working Paper No. w20476, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 440/2014
Number of pages: 51 Posted: 30 Aug 2014 Last Revised: 07 Jan 2017
London Business School - Institute of Finance and Accounting, National University of Singapore, London School of Economics & Political Science (LSE) and INSEAD
Downloads 1,084 (14,425)

Abstract:

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
London Business School - Institute of Finance and Accounting, National University of Singapore, INSEAD and London School of Economics & Political Science (LSE)
Downloads 2 (550,819)
  • Add to Cart

Abstract:

Strategic News Releases in Equity Vesting Months

CEPR Discussion Paper No. DP10144
Number of pages: 51 Posted: 25 Sep 2014
London Business School - Institute of Finance and Accounting, National University of Singapore, INSEAD and London School of Economics & Political Science (LSE)
Downloads 0
  • Add to Cart

Abstract:

CEO Incentives, Equity Vesting, News., Voluntary Disclosure

20.
Downloads 1,074 ( 14,963)
Citation 2

Blockholders: A Survey of Theory and Evidence

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 475/2016
Number of pages: 121 Posted: 13 Aug 2016 Last Revised: 12 Mar 2017
Alex Edmans and Clifford G. Holderness
London Business School - Institute of Finance and Accounting and Boston College - Department of Finance
Downloads 1,072 (14,712)
Citation 2

Abstract:

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
Downloads 2 (550,819)
Citation 2
  • Add to Cart

Abstract:

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

21.
Downloads 1,019 ( 16,186)
Citation 27

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
Downloads 983 (16,764)
Citation 27

Abstract:

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
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 31 (392,838)
Citation 27

Abstract:

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
Downloads 5 (533,314)
Citation 27
  • Add to Cart

Abstract:

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

22.
Downloads 865 ( 20,715)

The Effect of Diversification on Price Informativeness and Asset Values

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 437/2014
Number of pages: 56 Posted: 20 Aug 2014 Last Revised: 25 Apr 2017
Alex Edmans, Doron Levit and Devin Reilly
London Business School - Institute of Finance and Accounting, University of Pennsylvania - Finance Department and University of Pennsylvania - Department of Economics
Downloads 863 (20,398)

Abstract:

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
Alex Edmans, Doron Levit and Devin Reilly
London Business School - Institute of Finance and Accounting, University of Pennsylvania - Finance Department and University of Pennsylvania - Department of Economics
Downloads 2 (550,819)
  • Add to Cart

Abstract:

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 Pennsylvania - Finance Department and University of Pennsylvania - Department of Economics
Downloads 0
  • Add to Cart

Abstract:

blockholders, corporate governance, correlation, exit, trading

23.
Downloads 830 ( 22,013)
Citation 46

The Real Effects of Financial Markets

Annual Review of Financial Economics 4, 339-360, October 2012
Number of pages: 35 Posted: 24 Dec 2011 Last Revised: 20 Dec 2013
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 762 (24,508)
Citation 46

Abstract:

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
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 68 (280,456)
Citation 46

Abstract:

The Real Effects of Financial Markets

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

Abstract:

24.

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
Downloads 801 (21,488)
Citation 1

Abstract:

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

Feedback Effects, Asymmetric Trading, and the Limits to Arbitrage

American Economic Review, Forthcoming, AFA 2013 San Diego Meetings Paper, ECGI - Finance Working Paper No. 318/2011
Number of pages: 61 Posted: 21 Mar 2011 Last Revised: 02 May 2015
Alex Edmans, Itay Goldstein and Wei Jiang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Columbia Business School - Finance and Economics
Downloads 721 (26,461)
Citation 6

Abstract:

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
Alex Edmans, Itay Goldstein and Wei Jiang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Columbia Business School - Finance and Economics
Downloads 21 (444,444)
Citation 6

Abstract:

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 Columbia Business School - Finance and Economics
Downloads 1 (560,814)
Citation 6
  • Add to Cart

Abstract:

feedback effect, Limits to arbitrage, overinvestment

26.

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
Downloads 592 (34,186)
Citation 9

Abstract:

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

27.
Downloads 441 ( 51,304)
Citation 1

The Value of Information for Contracting

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 442/2014
Number of pages: 51 Posted: 24 May 2013 Last Revised: 29 Jul 2016
Queen's University, London Business School - Institute of Finance and Accounting and University of Pennsylvania - Business & Public Policy Department
Downloads 437 (51,351)
Citation 1

Abstract:

Contract theory, principal-agent model, limited liability, pay-for-luck, relative performance evaluation, options

The Value of Informativeness for Contracting

NBER Working Paper No. w20542
Number of pages: 60 Posted: 06 Oct 2014
Queen's University, London Business School - Institute of Finance and Accounting and University of Pennsylvania - Business & Public Policy Department
Downloads 4 (538,166)
Citation 1
  • Add to Cart

Abstract:

The Value of Informativeness for Contracting

CEPR Discussion Paper No. DP10180
Number of pages: 62 Posted: 06 Oct 2014
Queen's University, London Business School - Institute of Finance and Accounting and Paul Baerwald School of Social Work
Downloads 0
Citation 1
  • Add to Cart

Abstract:

contract theory, informativeness principle, limited liability, options, pay-for-luck, principal-agent model, relative performance evaluation

28.
Downloads 378 ( 61,828)
Citation 13

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 356 (65,745)
Citation 13

Abstract:

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
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 19 (456,002)
Citation 13

Abstract:

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
Downloads 3 (543,454)
Citation 13
  • Add to Cart

Abstract:

closed forms, contract theory, dispersive order, executive compensation, incentives, principal-agent problem, subderivative

29.
Downloads 321 ( 74,776)
Citation 1

The Generalized Informativeness Principle

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 444/2014
Number of pages: 32 Posted: 19 Nov 2014 Last Revised: 06 Apr 2016
Queen's University, London Business School - Institute of Finance and Accounting and University of Pennsylvania - Business & Public Policy Department
Downloads 318 (75,057)
Citation 1

Abstract:

Contract theory, principal-agent model, informativeness principle

The Generalized Informativeness Principle

NBER Working Paper No. w20729
Number of pages: 20 Posted: 08 Dec 2014
Queen's University, London Business School - Institute of Finance and Accounting and University of Pennsylvania - Business & Public Policy Department
Downloads 3 (543,454)
Citation 1
  • Add to Cart

Abstract:

The Generalized Informativeness Principle

CEPR Discussion Paper No. DP10279
Number of pages: 21 Posted: 08 Dec 2014
Queen's University, London Business School - Institute of Finance and Accounting and University of Pennsylvania - Business & Public Policy Department
Downloads 0
Citation 1
  • Add to Cart

Abstract:

Contract theory, informativeness principle., principal-agent model

30.
Downloads 320 ( 75,052)

Contracting with Synergies

ECGI - Finance Working Paper No. 320/2011
Number of pages: 49 Posted: 13 Nov 2011 Last Revised: 08 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 Pennsylvania, The Wharton School, Finance Department
Downloads 304 (78,907)

Abstract:

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
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 Pennsylvania, The Wharton School, Finance Department
Downloads 16 (472,957)

Abstract:

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 Pennsylvania, The Wharton School, Finance Department
Downloads 0
  • Add to Cart

Abstract:

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 Pennsylvania, The Wharton School, Finance Department
Downloads 0
  • Add to Cart

Abstract:

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

The Value of Performance Signals Under Contracting Constraints

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 439/2014
Number of pages: 34 Posted: 29 Aug 2014 Last Revised: 16 Jan 2017
Queen's University, London Business School - Institute of Finance and Accounting and University of Pennsylvania - Business & Public Policy Department
Downloads 272 (89,501)
Citation 1

Abstract:

Informativeness principle, contract theory, principal-agent model, limited liability, pay-for-luck, relative performance evaluation, options

The Informativeness Principle Under Limited Liability

NBER Working Paper No. w20456
Number of pages: 22 Posted: 08 Sep 2014
Queen's University, London Business School - Institute of Finance and Accounting and University of Pennsylvania - Business & Public Policy Department
Downloads 2 (550,819)
Citation 1
  • Add to Cart

Abstract:

The Informativeness Principle Under Limited Liability

CEPR Discussion Paper No. DP10143
Number of pages: 24 Posted: 25 Sep 2014
Queen's University, London Business School - Institute of Finance and Accounting and Paul Baerwald School of Social Work
Downloads 0
Citation 1
  • Add to Cart

Abstract:

contract theory, Informativeness principle, limited liability, options, pay-for-luck, principal-agent model, relative performance evaluation

32.

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
Downloads 189 (103,999)

Abstract:

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

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 Toulouse School of Economics
Downloads 76 (260,611)
Citation 85

Abstract:

A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

NBER Working Paper No. w13372
Number of pages: 51 Posted: 10 Sep 2007
Alex Edmans, Xavier Gabaix and Augustin Landier
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and Toulouse School of Economics
Downloads 22 (438,740)
Citation 85

Abstract:

34.

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 56 (291,032)
Citation 4

Abstract:

35.

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
London Business School - Institute of Finance and Accounting, University of Rochester - Simon Business School and Board of Governors of the Federal Reserve System
Downloads 0 (39,695)

Abstract:

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

36.

Work in Progress

Business Strategy Review, Vol. 25, Issue 1, pp. 45-47, 2014
Number of pages: 3 Posted: 27 Feb 2014
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 0 (544,079)
  • Add to Cart

Abstract:

37.

The Reading List

Business Strategy Review, Vol. 24, Issue 4, pp. 62-63, 2013
Number of pages: 2 Posted: 10 Dec 2013
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 0 (532,285)
  • Add to Cart

Abstract:

38.

The Effect of Diversification on Price Informativeness and Asset Values

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 437/2014
Number of pages: 56 Posted: 20 Aug 2014
Alex Edmans, Doron Levit and Devin Reilly
London Business School - Institute of Finance and Accounting, University of Pennsylvania - Finance Department and University of Pennsylvania - Department of Economics
Downloads 0

Abstract:

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