Ivo Welch

University of California, Los Angeles (UCLA)

Professor

110 Westwood Plaza

C519

Los Angeles, CA 90095-1481

United States

http://www.ivo-welch.info

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • University of California, Los Angeles (UCLA)

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    • Tel: 310-825-2508
SCHOLARLY PAPERS

77

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Rank 87

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96,073

CITATIONS
Rank 120

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Top 120

in Total Papers Citations

2,373

Scholarly Papers (77)

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1.

A Review of IPO Activity, Pricing and Allocations

Downloads 15,216 ( 196)
Citation 375

A Review of IPO Activity, Pricing and Allocations

Yale ICF Working Paper No. 02-01
Number of pages: 45 Posted: 09 Jan 2002
Ivo Welch and Jay R. Ritter
University of California, Los Angeles (UCLA) and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 15,008 (196)
Citation 375

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IPOs

A Review of IPO Activity, Pricing, and Allocations

NBER Working Paper No. w8805
Number of pages: 45 Posted: 21 Feb 2002 Last Revised: 26 Oct 2010
Ivo Welch and Jay R. Ritter
University of California, Los Angeles (UCLA) and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 208 (142,886)
Citation 375

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A Review of IPO Activity, Pricing, and Allocations

Journal of Finance, Vol. 57, pp. 1795-1828, 2002
Posted: 30 Dec 2003
Ivo Welch and Jay R. Ritter
University of California, Los Angeles (UCLA) and University of Florida - Department of Finance, Insurance and Real Estate

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2.

Portfolio Performance Manipulation and Manipulation-Proof Performance Measures

Downloads 7,451 ( 723)

Portfolio Performance Manipulation and Manipulation-Proof Performance Measures

Yale ICF Working Paper No. 02-08, AFA 2003 Washington, DC Meetings
Number of pages: 48 Posted: 22 Mar 2002
William N. Goetzmann, Jonathan E. Ingersoll, Matthew I. Spiegel and Ivo Welch
Yale School of Management - International Center for Finance, Yale School of Management - International Center for Finance, Yale University - Yale School of Management, International Center for Finance and University of California, Los Angeles (UCLA)
Downloads 7,451 (714)
Citation 101

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Portfolio Performance Manipulation and Manipulation-Proof Performance Measures

The Review of Financial Studies, Vol. 20, Issue 5, pp. 1503-1546, 2007
Posted: 26 Jun 2008
Jonathan E. Ingersoll, Matthew I. Spiegel, William N. Goetzmann and Ivo Welch
Yale School of Management - International Center for Finance, Yale University - Yale School of Management, International Center for Finance, Yale School of Management - International Center for Finance and University of California, Los Angeles (UCLA)

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G11, G23, G24

3.

Capital Structure and Stock Returns

Downloads 6,819 ( 838)

Capital Structure and Stock Returns

Yale ICF Working Paper No. 02-03; EFMA 2002 London Meetings
Number of pages: 35 Posted: 25 Jan 2002
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 6,819 (828)
Citation 207

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Capital Structure and Stock Returns

Journal of Political Economy, Vol. 112, No. 1, Pt. 1, pp. 106-31, February 2004
Posted: 25 Jan 2004
Ivo Welch
University of California, Los Angeles (UCLA)

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4.

The Top Achievements, Challenges, and Failures of Finance

Yale ICF Working Paper No. 00-67
Number of pages: 19 Posted: 28 Nov 2001
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 6,032 (1,046)
Citation 4

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5.

Investor Sentiment Measures

Downloads 5,716 ( 1,153)
Citation 41

Investor Sentiment Measures

Number of pages: 50 Posted: 14 Sep 2004
Lily Xiaoli Qiu and Ivo Welch
Brown University - Department of Economics and University of California, Los Angeles (UCLA)
Downloads 5,491 (1,211)
Citation 41

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investor sentiment, consumer confidence

Investor Sentiment Measures

NBER Working Paper No. w10794
Number of pages: 51 Posted: 03 Aug 2006 Last Revised: 01 Jul 2010
Lily Xiaoli Qiu and Ivo Welch
Brown University - Department of Economics and University of California, Los Angeles (UCLA)
Downloads 225 (132,400)
Citation 41

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6.

Research Roundtable Discussion: The Market Risk Premium

Number of pages: 10 Posted: 27 Jun 2000
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 4,411 (1,806)
Citation 2

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7.

Predicting the Equity Premium with Dividend Ratios

Downloads 3,829 ( 2,314)
Citation 168

Predicting the Equity Premium with Dividend Ratios

Yale ICF Working Paper No. 02-04
Number of pages: 36 Posted: 28 Apr 1999
Amit Goyal and Ivo Welch
University of Lausanne and University of California, Los Angeles (UCLA)
Downloads 3,738 (2,375)
Citation 168

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Predicting the Equity Premium with Dividend Ratios

NBER Working Paper No. w8788
Number of pages: 33 Posted: 14 Feb 2002 Last Revised: 26 Oct 2010
Amit Goyal and Ivo Welch
University of Lausanne and University of California, Los Angeles (UCLA)
Downloads 91 (278,001)
Citation 168

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8.

The Link between Fama-French Time-Series Tests and Fama-Macbeth Cross-Sectional Tests

Number of pages: 21 Posted: 23 Sep 2008 Last Revised: 25 Nov 2008
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 3,791 (2,358)
Citation 2

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Asset Pricing, Fama-French, Fama-Macbeth, APT, CAPM

9.

Common Problems in Capital Structure Research: The Financial-Debt-To-Asset Ratio, and Issuing Activity vs. Leverage Changes

AFA 2008 New Orleans Meetings Paper
Number of pages: 18 Posted: 20 Sep 2006 Last Revised: 22 Oct 2010
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 3,540 (2,656)
Citation 23

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capital structure

10.

A Comprehensive Look at the Empirical Performance of Equity Premium Prediction

Downloads 3,161 ( 3,218)
Citation 278

A Comprehensive Look at the Empirical Performance of Equity Premium Prediction

Yale ICF Working Paper No. 04-11
Number of pages: 59 Posted: 30 Apr 2004
Amit Goyal and Ivo Welch
University of Lausanne and University of California, Los Angeles (UCLA)
Downloads 3,054 (3,370)
Citation 278

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Equity Premium, Prediction, Stock Market

A Comprehensive Look at the Empirical Performance of Equity Premium Prediction

NBER Working Paper No. w10483
Number of pages: 53 Posted: 26 May 2004 Last Revised: 25 Aug 2010
Amit Goyal and Ivo Welch
University of Lausanne and University of California, Los Angeles (UCLA)
Downloads 107 (249,112)
Citation 278

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A Comprehensive Look at the Empirical Performance of Equity Premium Prediction

The Review of Financial Studies, Vol. 21, Issue 4, pp. 1455-1508, 2008
Posted: 08 Aug 2008
Ivo Welch and Amit Goyal
University of California, Los Angeles (UCLA) and University of Lausanne

Abstract:

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G12, G14

11.

A Critique of Recent Quantitative and Deep-Structure Modeling in Capital Structure Research and Beyond

AFA 2011 Denver Meetings Paper
Number of pages: 44 Posted: 04 Mar 2010 Last Revised: 18 Sep 2013
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 2,852 (3,850)
Citation 7

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Quantitative Structural Modeling

12.

Liquidity and Financial Market Runs

Yale ICF Working Paper No. 02-11; AFA 2003 Washington, DC Meetings
Number of pages: 35 Posted: 15 Jul 2003
Antonio E. Bernardo and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)
Downloads 2,778 (4,037)
Citation 62

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13.

The Equity Premium Consensus Forecast Revisited

Cowles Foundation Discussion Paper No. 1325
Number of pages: 15 Posted: 27 Sep 2001
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 2,645 (4,371)
Citation 41

Abstract:

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Equity Premium

14.

A Note on 'Predicting Returns with Financial Ratios'

Yale ICF Working Paper No. 04-02
Number of pages: 12 Posted: 27 Jan 2004
Ivo Welch and Amit Goyal
University of California, Los Angeles (UCLA) and University of Lausanne
Downloads 2,318 (5,468)
Citation 1

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15.

An Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness

Downloads 1,504 ( 11,247)
Citation 13

An Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness

Yale ICF Working Paper No. 00-47, Cowles Foundation Discussion Paper No. 1306, Dice Working Paper No. 2000-4
Number of pages: 46 Posted: 17 May 2001 Last Revised: 20 Aug 2009
David A. Hirshleifer and Ivo Welch
University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)
Downloads 1,504 (11,032)
Citation 13

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Memory, Inertia, Amnesia, Behavioral Economics

An Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness

Journal of Economics and Management Strategy, Vol. 11, No. 3, pp. 379-421, Fall 2002
Posted: 01 Dec 2008
David A. Hirshleifer and Ivo Welch
University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

Abstract:

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16.

Views of Financial Economists on the Equity Premium and on Professional Controversies

Downloads 1,474 ( 11,598)
Citation 99

Views of Financial Economists on the Equity Premium and on Professional Controversies

Number of pages: 52 Posted: 27 Apr 2000
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 1,474 (11,367)
Citation 99

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Views of Financial Economists on the Equity Premium and on Professional Controversies

Journal of Business
Posted: 05 Jul 2000
Ivo Welch
University of California, Los Angeles (UCLA)

Abstract:

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17.

The Consensus Estimate for the Equity Premium by Academic Financial Economists in December 2007

Number of pages: 14 Posted: 17 Jan 2008 Last Revised: 22 Jul 2009
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 1,470 (11,650)
Citation 11

Abstract:

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equity premium

18.

Best Practice for Cost-of-Capital Estimates

Marshall School of Business Working Paper No. 17-4
Number of pages: 65 Posted: 04 Oct 2015 Last Revised: 21 Feb 2017
Yaron Levi and Ivo Welch
University of Southern California - Marshall School of Business and University of California, Los Angeles (UCLA)
Downloads 1,329 (13,697)

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cost of capital, capital budgeting, CAPM

19.

A Theory of Fads, Fashion, Custom, and Cultural Change as Informational Cascades

Journal of Political Economy, Vol. 100, No. 5, pp. 992-1026, October 1992
Number of pages: 51 Posted: 01 Dec 2008 Last Revised: 18 May 2009
Sushil Bikhchandani, Ivo Welch and David A. Hirshleifer
University of California, Los Angeles - Anderson School of Management, University of California, Los Angeles (UCLA) and University of California, Irvine - Paul Merage School of Business
Downloads 1,217 (15,700)
Citation 460

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20.

Who Should Pay for Bankruptcy Costs?

Yale Law & Economics Research Paper No. 277; Yale ICF Working Paper No. 03-08
Number of pages: 45 Posted: 01 May 2003
Ivo Welch, Arturo Bris and Alan Schwartz
University of California, Los Angeles (UCLA), IMD International and Yale Law School
Downloads 1,204 (15,963)
Citation 10

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21.

On the Evolution of Overconfidence and Entrepreneurs

Downloads 1,176 ( 16,559)
Citation 69

On the Evolution of Overconfidence and Entrepreneurs

Yale Cowles Foundation Discussion Paper No. 1307; Yale ICF Working Paper No. 00-48
Number of pages: 53 Posted: 16 Jul 2001
Antonio E. Bernardo and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)
Downloads 1,176 (16,231)
Citation 69

Abstract:

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Evolution, Overconfidence, Behavioral Economics

On the Evolution of Overconfidence and Entrepreneurs

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 28 Oct 2009
Antonio E. Bernardo and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)

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Theoretical, Overconfidence, Self-efficacy, Management decisions, Startups, Groups, Risk orientation, Survival rates

22.

Optimized vs. Sort-Based Portfolios

AFA 2010 Atlanta Meetings Paper
Number of pages: 45 Posted: 14 Jan 2009 Last Revised: 28 Dec 2009
Gerard Hoberg and Ivo Welch
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of California, Los Angeles (UCLA)
Downloads 1,126 (17,658)

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book-to-market, HML, characteristics, factors

23.

Reconciling Estimates of the Speed of Adjustment of Leverage Ratios

Number of pages: 49 Posted: 26 Jan 2010 Last Revised: 22 Oct 2010
Peter Iliev and Ivo Welch
Pennsylvania State University - Department of Finance and University of California, Los Angeles (UCLA)
Downloads 1,077 (18,902)
Citation 22

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Capital Structure, Leverage Ratios, Speed of Adjustment

24.

The Costs of Bankruptcy

Journal of Finance, Forthcoming, Yale ICF Working Paper No. 04-13, AFA 2005 Philadelphia Meetings Paper
Number of pages: 81 Posted: 07 Dec 2005
Arturo Bris, Ivo Welch and Ning Zhu
IMD International, University of California, Los Angeles (UCLA) and China Academy of Financial Research (CAFR)
Downloads 1,061 (19,297)
Citation 94

Abstract:

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25.

Do Powerful Politicians Really Cause Corporate Downsizing?

Number of pages: 8 Posted: 05 Sep 2014 Last Revised: 21 Oct 2015
Jason Snyder and Ivo Welch
University of California, Los Angeles (UCLA) - Anderson School of Management and University of California, Los Angeles (UCLA)
Downloads 1,005 (20,955)

Abstract:

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Earmarks, Investment

26.

Referee Recommendations

Number of pages: 36 Posted: 29 Aug 2012 Last Revised: 03 Jun 2013
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 1,003 (21,044)
Citation 1

Abstract:

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27.

Plausibility

Number of pages: 23 Posted: 27 Feb 2015 Last Revised: 23 Jun 2015
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 999 (21,142)

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causality, plausibility

28.

The Optimal Concentration of Creditors

Downloads 954 ( 22,584)
Citation 28

The Optimal Concentration of Creditors

EFA 2002 Berlin Meetings Presented Paper; Yale ICF Working Paper No. 00-65; Cowles Foundation Discussion Paper No. 1338
Number of pages: 33 Posted: 27 Nov 2001
Ivo Welch and Arturo Bris
University of California, Los Angeles (UCLA) and IMD International
Downloads 918 (23,449)
Citation 28

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Banking, Capital Structure

The Optimal Concentration of Creditors

NBER Working Paper No. w8652
Number of pages: 42 Posted: 14 Dec 2001 Last Revised: 25 Oct 2010
Arturo Bris and Ivo Welch
IMD International and University of California, Los Angeles (UCLA)
Downloads 36 (440,665)
Citation 28

Abstract:

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29.

Aged and Recent Market Betas in Securities Pricing

Number of pages: 56 Posted: 17 Dec 2009
Gerard Hoberg and Ivo Welch
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of California, Los Angeles (UCLA)
Downloads 886 (25,213)
Citation 4

Abstract:

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market-beta, factor pricing, APT

30.

A Theory of Legal Presumptions

Downloads 871 ( 25,800)
Citation 41

A Theory of Legal Presumptions

USC Law School, Olin Working Paper No. 99-8
Number of pages: 50 Posted: 04 May 1999
Antonio E. Bernardo, Eric L. Talley and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, Columbia University - School of Law and University of California, Los Angeles (UCLA)
Downloads 672 (36,297)
Citation 41

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A Theory of Legal Presumptions

Journal of Law, Economics, and Organization, Vol. 16, No. 1, Spring 2000
Number of pages: 49 Posted: 11 Jul 2000
Antonio E. Bernardo, Eric L. Talley and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, Columbia University - School of Law and University of California, Los Angeles (UCLA)
Downloads 199 (149,017)
Citation 41

Abstract:

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31.

The Costs of Bankruptcy Chapter 7 Cash Auctions vs. Chapter 11 Bargaining

EFA 2004 Maastricht Meetings Paper No. 5155
Number of pages: 71 Posted: 03 Aug 2004
Arturo Bris, Ivo Welch and Ning Zhu
IMD International, University of California, Los Angeles (UCLA) and China Academy of Financial Research (CAFR)
Downloads 768 (30,743)
Citation 9

Abstract:

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32.

A Different Way to Estimate the Equity Premium (for CAPM and One-Factor Model Use Only)

Number of pages: 11 Posted: 24 Dec 2007 Last Revised: 25 Nov 2008
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 675 (36,640)
Citation 6

Abstract:

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Beta, Capital Budgeting, CAPM

33.

The Effect of Socially Activist Investment Policies on the Financial Markets: Evidence from the South African Boycott

London Business School Institute of Finance and Accounting working paper 222
Number of pages: 58 Posted: 11 Nov 1996
Siew Hong Teoh, Ivo Welch and C. Paul Wazzan
University of California, Irvine - Accounting Area, University of California, Los Angeles (UCLA) and Berkeley Research Group,LLC
Downloads 645 (38,868)
Citation 34

Abstract:

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34.

Why is Bank Debt Senior? A Theory of Priority Based on Influence Costs

Number of pages: 44 Posted: 21 Aug 1996
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 574 (45,399)
Citation 5

Abstract:

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35.

Ethics (Web Chapter)

Number of pages: 50 Posted: 23 Jan 2006 Last Revised: 08 Feb 2015
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 458 (60,546)

Abstract:

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36.

A Model of Operational Slack: The Short-Run, Medium-Run, and Long-Run Consequences of Limited Attention

AFA 2010 Atlanta Meetings Paper
Number of pages: 48 Posted: 02 Jan 2007 Last Revised: 09 Dec 2016
Peter Iliev and Ivo Welch
Pennsylvania State University - Department of Finance and University of California, Los Angeles (UCLA)
Downloads 446 (62,366)
Citation 1

Abstract:

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Attention, Project Choice, Slack, Overinvestment, Diversification Discount

37.

Sharpening Sharpe Ratios

NBER Working Paper No. w9116
Number of pages: 51 Posted: 23 Aug 2002
William N. Goetzmann, Jonathan E. Ingersoll, Matthew I. Spiegel and Ivo Welch
Yale School of Management - International Center for Finance, Yale School of Management - International Center for Finance, Yale University - Yale School of Management, International Center for Finance and University of California, Los Angeles (UCLA)
Downloads 345 (84,501)
Citation 46

Abstract:

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38.

Leverage and Preemptive Selling of Financial Institutions

AFA 2011 Denver Meetings Paper
Number of pages: 50 Posted: 31 Oct 2009 Last Revised: 03 Oct 2010
Antonio E. Bernardo and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)
Downloads 294 (100,747)
Citation 2

Abstract:

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Leverage, Banks, Financial Institutions, Preemptive Selling, Fire Sales

39.

Noise in Stock Returns as Natural Experiments: Forward- and Backward-Looking Market-Betas, Momentum, and Reversals

Number of pages: 49 Posted: 23 Mar 2009 Last Revised: 14 May 2009
Gerard Hoberg and Ivo Welch
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of California, Los Angeles (UCLA)
Downloads 288 (103,049)

Abstract:

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40.

A Model of Optimal Corporate Bailouts

Number of pages: 41 Posted: 05 May 2011 Last Revised: 05 May 2012
Antonio E. Bernardo, Eric L. Talley and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, Columbia University - School of Law and University of California, Los Angeles (UCLA)
Downloads 267 (111,654)
Citation 1

Abstract:

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Government Bailout, Moral Hazard, GM, Chrysler, TARP

41.

Market-Beta and Downside Risk

Number of pages: 50 Posted: 18 Jul 2017 Last Revised: 25 Oct 2018
Yaron Levi and Ivo Welch
University of Southern California - Marshall School of Business and University of California, Los Angeles (UCLA)
Downloads 251 (119,077)

Abstract:

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Market Beta, Crash Risk

42.

Extended Stock Returns in Response to S&P 500 Index Changes

Number of pages: 46 Posted: 02 Aug 2015 Last Revised: 04 Oct 2016
Nimesh Patel and Ivo Welch
University of Hawai'i at Manoa, Shidler College of Business and University of California, Los Angeles (UCLA)
Downloads 247 (120,999)

Abstract:

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S&P 500

43.

The (Time-Varying) Importance of Disaster Risk

Financial Analysts Journal, Forthcoming July/August 2016
Number of pages: 32 Posted: 22 Apr 2015 Last Revised: 18 Feb 2016
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 233 (128,331)

Abstract:

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black swans, disasters, catastrophes, dark events, equity premium

44.

Stock Return Outliers

Number of pages: 17 Posted: 13 Nov 2017
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 228 (131,124)

Abstract:

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45.

A Quasi-Experimental Test of the Risk-Reward Paradigm

Downloads 175 (167,655)

A Quasi-Experimental Test of the Risk-Reward Paradigm

Number of pages: 49 Posted: 31 Mar 2016 Last Revised: 06 Jun 2017
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 163 (178,555)

Abstract:

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Financing, Leverage, Capital Structure, Quasi-Experiments, Behavioral Finance

Levered Returns

NBER Working Paper No. w22150
Number of pages: 42 Posted: 11 Apr 2016
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 12 (578,367)

Abstract:

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46.

Asset Redeployability, Liquidation Value, and Endogenous Capital Structure Heterogeneity

Number of pages: 78 Posted: 08 Jun 2017 Last Revised: 27 Oct 2018
Antonio E. Bernardo, Alex Fabisiak and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, University of California, Los Angeles (UCLA) - Anderson School of Management and University of California, Los Angeles (UCLA)
Downloads 166 (175,657)

Abstract:

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Debt, Distress, Fire Sales, Redployability, Heterogeneity Endogenous Pricing

47.

Leverage- and Cash-Based Tests of Risk and Reward with Improved Identification

Number of pages: 59 Posted: 08 Jun 2017 Last Revised: 18 Mar 2018
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 156 (185,039)

Abstract:

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Leverage, Risk, Reward, Quasi Experiments, Behavioral Finance

48.

Are Interest Rates Really Low?

Downloads 143 (198,901)

Are Interest Rates Really Low?

Number of pages: 38 Posted: 27 Jan 2018 Last Revised: 06 Feb 2018
Daniel R. Feenberg, Clinton Tepper and Ivo Welch
National Bureau of Economic Research (NBER), University of California, Los Angeles (UCLA) - Anderson School of Management and University of California, Los Angeles (UCLA)
Downloads 132 (212,820)

Abstract:

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Taxes, Interest Rates, Yields, Municipal Bonds, Treasuries

Are Interest Rates Really Low?

NBER Working Paper No. w24258
Number of pages: 39 Posted: 29 Jan 2018
Daniel R. Feenberg, Clinton Tepper and Ivo Welch
National Bureau of Economic Research (NBER), University of California, Los Angeles (UCLA) - Anderson School of Management and University of California, Los Angeles (UCLA)
Downloads 11 (584,922)
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Abstract:

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49.

Capital Structure with Endogenous Liquidation Values

Number of pages: 36 Posted: 19 Oct 2014 Last Revised: 03 Oct 2015
Antonio E. Bernardo, Alex Fabisiak and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, University of California, Los Angeles (UCLA) - Anderson School of Management and University of California, Los Angeles (UCLA)
Downloads 137 (205,804)

Abstract:

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Capital Structure, Liquidation Values, Financial Distress

50.

Designing Corporate Bailouts

Journal of Law and Economics, Vol. 59, No. 1, 2016
Number of pages: 31 Posted: 13 Dec 2013 Last Revised: 02 Jan 2017
Antonio E. Bernardo, Eric L. Talley and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, Columbia University - School of Law and University of California, Los Angeles (UCLA)
Downloads 116 (233,851)

Abstract:

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Government Bailout, Moral Hazard, TARP, General Motors, Chrysler

51.

Contracting Externalities and Mandatory Menus in the U.S. Corporate Bankruptcy Code

Number of pages: 50 Posted: 22 Dec 2013 Last Revised: 03 Mar 2015
Antonio E. Bernardo, Alan Schwartz and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, Yale Law School and University of California, Los Angeles (UCLA)
Downloads 111 (241,326)

Abstract:

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Bankruptcy, Opt-Out Choice, Chapter 11

52.

Columbus' Egg: The Real Determinant of Capital Structure

NBER Working Paper No. w8782
Number of pages: 44 Posted: 14 Feb 2002 Last Revised: 26 Oct 2010
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 101 (257,834)
Citation 11

Abstract:

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53.

Optimal Debt Financing and the Pricing of Illiquid Assets

Number of pages: 27 Posted: 15 Mar 2011
Antonio E. Bernardo and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)
Downloads 100 (259,541)

Abstract:

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Liquidity, Returns, Volatility, Limits to Arbitrage

54.

Simple Better Market Betas

Number of pages: 60 Posted: 06 May 2019
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 81 (300,709)

Abstract:

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market-beta, robust estimation, winsorization

55.

The Value of Financial Flexibility: Equilibrium Liquidation Values and Endogenous Capital Structure Heterogeneity

Number of pages: 58 Posted: 12 Dec 2016
Antonio E. Bernardo, Alex Fabisiak and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, University of California, Los Angeles (UCLA) - Anderson School of Management and University of California, Los Angeles (UCLA)
Downloads 67 (329,889)

Abstract:

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Capital Structure Theory

56.

Financial Market Runs

NBER Working Paper No. w9251
Number of pages: 44 Posted: 04 Oct 2002 Last Revised: 05 Oct 2002
Antonio E. Bernardo and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)
Downloads 49 (382,971)
Citation 60

Abstract:

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57.

The Closed-Form Solution to Bertrand Competition with Exogenous Entry Costs or Participation

Number of pages: 3 Posted: 11 Oct 2017
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 34 (439,067)

Abstract:

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Bertrand

58.

Two Common Problems in Capital Structure Research: The Financial-Debt-To-Asset Ratio and Issuing Activity Versus Leverage Changes

International Review of Finance, Vol. 11, No. 1, pp. 1-17, 2011
Number of pages: 17 Posted: 09 Mar 2011
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 3 (611,694)
Citation 20
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Abstract:

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59.

Video: Structural Estimation Drawbacks

Posted: 27 Sep 2012
Ivo Welch
University of California, Los Angeles (UCLA)

Abstract:

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60.

The Results of the Equity Premium January 2009 Survey

Posted: 08 Dec 2009
Ivo Welch
University of California, Los Angeles (UCLA)

Abstract:

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equity premium

61.

Seasoned Offerings, Imitation Costs, and the Underpricing of Initial Public Offerings

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 17 Nov 2009
Ivo Welch
University of California, Los Angeles (UCLA)

Abstract:

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Seasoned offerings, Signaling, Underpricing, Valuation, Business conditions, Stock offerings, Information asymmetry, Initial public offerings (IPO)

62.

Learning from the Behavior of Others: Conformity, Fads, and Informational Cascades

Journal of Economic Perspectives, Vol. 12, No. 3, pp. 151-70, Summer 1998
Posted: 01 Dec 2008
Sushil Bikhchandani, David A. Hirshleifer and Ivo Welch
University of California, Los Angeles - Anderson School of Management, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

Abstract:

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63.

A Personal FAQ on the Financial Crisis of 2008

Posted: 29 Oct 2008
Ivo Welch
University of California, Los Angeles (UCLA)

Abstract:

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Financial Crisis 2008

64.

Information Cascades

THE NEW PALGRAVE DICTIONARY OF ECONOMICS, Second Edition, Steven N. Durlauf and Lawrence E. Blume, eds., Palgrave Macmillan/U.K., 2008
Posted: 05 Oct 2008 Last Revised: 29 Sep 2009
Sushil Bikhchandani, David A. Hirshleifer and Ivo Welch
University of California, Los Angeles - Anderson School of Management, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

Abstract:

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65.

Information Cascades; Entry Written for the New Palgrave Dictionary of Economics

Posted: 14 Nov 2005
Sushil Bikhchandani, David A. Hirshleifer and Ivo Welch
University of California, Los Angeles - Anderson School of Management, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

Abstract:

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information cascades, information aggregation, social learning, cultural evolution

66.

The Cross-Sectional Determinants of Corporate Capital Expenditures: A Multinational Comparison

Schmalenbach Business Review, Forthcoming
Posted: 16 Jun 2002
Ivo Welch and David Wessels
University of California, Los Angeles (UCLA) and University of Pennsylvania - Finance Department

Abstract:

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67.

Herding Among Security Analysts

Journal of Financial Economics, Vol. 58, No. 3, December 2000
Posted: 16 Aug 2001
Ivo Welch
University of California, Los Angeles (UCLA)

Abstract:

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Herding, Imitation, Informational Cascades, Analysts

68.

Why is Bank Debt Senior? A Theory of Priority Among Creditors

Posted: 25 Sep 1999
Ivo Welch
University of California, Los Angeles (UCLA)

Abstract:

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69.

Institutional Memory, Inertia, and Impulsiveness

Posted: 02 Sep 1999
David A. Hirshleifer and Ivo Welch
University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

Abstract:

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70.

Legal Liability and Issuer Expenses in Ipos

Posted: 20 Dec 1998
Ivo Welch and Randolph P. Beatty
University of California, Los Angeles (UCLA) and University of Southern California - Leventhal School of Accounting

Abstract:

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71.

Effect of Socially Activist Investment Policies on the Financial Markets: Evidence from the South African Boycott

Journal of Business, Vol. 72, No. 1, January 1999
Posted: 12 Nov 1998
Siew Hong Teoh, Ivo Welch and C. Paul Wazzan
University of California, Irvine - Accounting Area, University of California, Los Angeles (UCLA) and Berkeley Research Group,LLC

Abstract:

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72.

Earnings Management and the Post-Issue Underperformance in Seasoned Equity Offerings

Posted: 10 Oct 1998
Siew Hong Teoh, Ivo Welch and T.J. Wong
University of California, Irvine - Accounting Area, University of California, Los Angeles (UCLA) and University of Sothern California

Abstract:

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73.

G-Iii Apparel Group, Inc.

Posted: 16 Sep 1998
Ivo Welch
University of California, Los Angeles (UCLA)

Abstract:

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74.

Earnings Management and the Post-Issue Underperformance of Seasoned Equity Offerings

Posted: 22 Aug 1998
Siew Hong Teoh, Ivo Welch and T.J. Wong
University of California, Irvine - Accounting Area, University of California, Los Angeles (UCLA) and University of Sothern California

Abstract:

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75.

Rational Herding in Financial Economics

IFA 218-1995
Posted: 09 Jul 1998
Andrea Devenow and Ivo Welch
Movielink and University of California, Los Angeles (UCLA)

Abstract:

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76.

A Theory of Dividends Based on Tax Clienteles

Rodney L. White Center Working Paper No. 15-98
Posted: 25 Jun 1998
Franklin Allen, Antonio E. Bernardo and Ivo Welch
Imperial College London, University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)

Abstract:

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77.

Culture, Information, and Screening Discrimination

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Culture, Information, and Screening Discrimination

JOURNAL OF POLITICAL ECONOMY, Vol. 104, No. 3, June 1996
Posted: 21 Jun 1996
Bradford Cornell and Ivo Welch
California Institute of Technology and University of California, Los Angeles (UCLA)

Abstract:

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Culture, Information, and Screening Discrimination

Posted: 02 Feb 1995
Bradford Cornell and Ivo Welch
California Institute of Technology and University of California, Los Angeles (UCLA)

Abstract:

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