Reena Aggarwal

Georgetown University - Robert Emmett McDonough School of Business

McDonough Professor of Finance

3700 O Street, NW

Washington, DC 20057

United States

http://https://gufaculty360.georgetown.edu/s/contact/00336000014RhE9AAK/reena-aggarwal

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

National University of Singapore (NUS) - Asian Bureau of Finance and Economic Research (ABFER)

BIZ 2 Storey 4, 04-05

1 Business Link

Singapore, 117592

Singapore

SCHOLARLY PAPERS

33

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Top 2,960

in Total Papers Downloads

24,261

TOTAL CITATIONS
Rank 989

SSRN RANKINGS

Top 989

in Total Papers Citations

722

Scholarly Papers (33)

Does Governance Travel around the World? Evidence from Institutional Investors

Fisher College of Business Working Paper No. 2009-008, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 267/2018, Fourth Singapore International Conference on Finance 2010 Paper, AFA 2010 Atlanta Meetings Paper, CELS 2009 4th Annual Conference on Empirical Legal Studies Paper
Number of pages: 72 Posted: 24 Mar 2009 Last Revised: 29 Oct 2018
Georgetown University - Robert Emmett McDonough School of Business, Ohio State University (OSU) - Department of Finance, Nova School of Business and Economics and University of Virginia - Darden School of Business
Downloads 1,968 (17,614)
Citation 127

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Institutional Investors, Corporate Governance, Shareholder Activism

Does Governance Travel Around the World? Evidence from Institutional Investors

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 66 Posted: 06 Jul 2010
Georgetown University - Robert Emmett McDonough School of Business, Ohio State University (OSU) - Department of Finance, Nova School of Business and Economics and University of Virginia - Darden School of Business
Downloads 815 (64,079)
Citation 17

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Institutional Investors, Corporate Governance, Shareholder Activism

Do U.S. Firms Have the Best Corporate Governance? A Cross-Country Examination of the Relation between Corporate Governance and Shareholder Wealth

Fisher College of Business Working Paper No. 2006-03-006, ECGI - Finance Working Paper No. 145/2007, Charles A. Dice Center Working Paper No. 2006-25
Number of pages: 41 Posted: 02 Jan 2007
Georgetown University - Robert Emmett McDonough School of Business, Ohio State University (OSU) - Department of Finance, Ohio State University (OSU) - Department of Finance and Georgetown University - McDonough School of Business
Downloads 2,143 (15,363)
Citation 143

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Do U.S. Firms Have the Best Corporate Governance? A Cross-Country Examination of the Relation between Corporate Governance and Shareholder Wealth

NBER Working Paper No. w12819
Number of pages: 37 Posted: 12 Jan 2007 Last Revised: 13 Jul 2022
Georgetown University - Robert Emmett McDonough School of Business, Ohio State University (OSU) - Department of Finance, Ohio State University (OSU) - Fisher College of Business and Georgetown University - McDonough School of Business
Downloads 185 (346,108)
Citation 8

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3.

The Role of Institutional Investors in Voting: Evidence from the Securities Lending Market

Journal of Finance, Forthcoming
Number of pages: 53 Posted: 06 Dec 2019
Reena Aggarwal, Pedro Saffi and Jason Sturgess
Georgetown University - Robert Emmett McDonough School of Business, University of Cambridge - Judge Business School and Queen Mary University of London
Downloads 2,192 (15,084)
Citation 37

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Proxy Voting, Securities Lending, Institutional Investors

4.

U.S. Securities Regulation in a World of Global Exchanges

Exchanges: Challenges and Implications, Euromoney, 2007, Harvard Law and Economics Discussion Paper No. 569, ECGI - Finance Working Paper No. 146/2007
Number of pages: 36 Posted: 11 Dec 2006
Reena Aggarwal, Allen Ferrell and Jonathan G. Katz
Georgetown University - Robert Emmett McDonough School of Business, Harvard Law School and U.S. Securities and Exchange Commission
Downloads 1,548 (26,022)
Citation 1

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stock exchange mergers, NYSE, Euronext, Sarbanes-Oxley, cross-listing, demutualization, stock exchanges, SRO

Differences in Governance Practices between U.S. and Foreign Firms: Measurement, Causes, and Consequences

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 184/2007, Fisher College of Business Working Paper No. 2007-03-015, Charles A. Dice Center Working Paper No. 2007-14
Number of pages: 61 Posted: 18 Jul 2007 Last Revised: 31 Oct 2018
Georgetown University - Robert Emmett McDonough School of Business, Ohio State University (OSU) - Department of Finance, Ohio State University (OSU) - Department of Finance and Georgetown University - McDonough School of Business
Downloads 1,134 (40,503)
Citation 39

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governance, investor protection, common law.

Differences in Governance Practices between U.S. And Foreign Firms: Measurement, Causes, and Consequences

NBER Working Paper No. w13288
Number of pages: 49 Posted: 09 Aug 2007 Last Revised: 24 Apr 2022
Georgetown University - Robert Emmett McDonough School of Business, Ohio State University (OSU) - Department of Finance, Ohio State University (OSU) - Department of Finance and Georgetown University - McDonough School of Business
Downloads 189 (339,334)
Citation 1

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Differences in Governance Practices between U.S. and Foreign Firms: Measurement, Causes, and Consequences

Number of pages: 42 Posted: 22 Aug 2007
Georgetown University - Robert Emmett McDonough School of Business, Ohio State University (OSU) - Department of Finance, Ohio State University (OSU) - Department of Finance and Georgetown University - McDonough School of Business
Downloads 119 (502,735)

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corporate governance

Differences in Governance Practices between U.S. And Foreign Firms: Measurement, Causes, and Consequences

The Review of Financial Studies, Vol. 22, Issue 8, pp. 3131-3169, 2009
Posted: 05 Aug 2009
Georgetown University - Robert Emmett McDonough School of Business, Ohio State University (OSU) - Department of Finance, Ohio State University (OSU) - Department of Finance and Georgetown University - McDonough School of Business

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G32, G34, G38

6.

Portfolio Preferences of Foreign Institutional Investors

Journal of Banking and Finance, Vol. 29, No. 12, 2005
Number of pages: 41 Posted: 23 Jul 2003 Last Revised: 24 Feb 2012
Reena Aggarwal, Leora F. Klapper and Peter D. Wysocki
Georgetown University - Robert Emmett McDonough School of Business, World Bank and Boston University Questrom School of Business
Downloads 1,297 (33,779)
Citation 54

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Institutional Investors, Portfolio Allocations, Emerging Markets, Corporate Governance

7.

Did New Regulations Target the Relevant Corporate Governance Attributes?

Number of pages: 43 Posted: 01 Dec 2005
Reena Aggarwal and Rohan Williamson
Georgetown University - Robert Emmett McDonough School of Business and Georgetown University - McDonough School of Business
Downloads 1,247 (35,741)
Citation 44

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Corporate governance, firm value, regulation

8.

Influence of Public Opinion on Investor Voting and Proxy Advisors

Fisher College of Business Working Paper No. WP 2014-03-12, Georgetown McDonough School of Business Research Paper No. 2447012, Dice Center Working Paper No. 2014-12
Number of pages: 42 Posted: 08 Jun 2014 Last Revised: 21 Aug 2015
Reena Aggarwal, Isil Erel and Laura T. Starks
Georgetown University - Robert Emmett McDonough School of Business, Ohio State University (OSU) - Department of Finance and University of Texas at Austin - Department of Finance
Downloads 1,149 (40,319)
Citation 22

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Public Opinion, Media, Proxy Advisors, Institutional Investors, Proxy Voting

9.

The Growth of Global ETFs and Regulatory Challenges

Georgetown McDonough School of Business Research Paper No. 2012-04
Number of pages: 28 Posted: 08 Feb 2012 Last Revised: 28 Nov 2012
Reena Aggarwal and Laura Schofield
Georgetown University - Robert Emmett McDonough School of Business and Georgetown University - McDonough School of Business
Downloads 995 (49,468)
Citation 11

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ETFs, Leveraged ETFs, Synthetic ETFs, Regulation, Systemic Risk

10.

Do Workers' Remittances Promote Financial Development?

World Bank Policy Research Working Paper No. 3957
Number of pages: 40 Posted: 20 Apr 2016
Georgetown University - Robert Emmett McDonough School of Business, World Bank and International Monetary Fund (IMF)
Downloads 947 (53,001)
Citation 26

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Remittances, Economic Theory & Research, Pro-Poor Growth and Inequality, Banks & Banking Reform, Financial Economics

11.

The Power of Shareholder Votes: Evidence from Uncontested Director Elections

Robert H. Smith School Research Paper No. RHS 2609532, Georgetown McDonough School of Business Research Paper No. 2609532
Number of pages: 52 Posted: 23 May 2015 Last Revised: 24 Mar 2017
Georgetown University - Robert Emmett McDonough School of Business, Georgetown University - McDonough School of Business and The Johns Hopkins Carey Business School
Downloads 881 (58,525)
Citation 71

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director elections; director reputation; shareholder voting; proxy advisor

12.

Why do Investors Vote Against Corporate Directors?

European Corporate Governance Institute – Finance Working Paper No. 924/2023, Georgetown McDonough School of Business Research Paper No. 4502527
Number of pages: 60 Posted: 17 Jul 2023 Last Revised: 14 Dec 2024
Reena Aggarwal, Sandeep Dahiya and Umit Yilmaz
Georgetown University - Robert Emmett McDonough School of Business, Georgetown University - McDonough School of Business and University of Missouri at Columbia - Department of Finance
Downloads 876 (58,997)

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Institutional Investors, Proxy Voting, Director Elections, Board Diversity, Climate Change

Allocation of Initial Public Offerings and Flipping Activity

Georgetown University Working Paper
Number of pages: 38 Posted: 13 Aug 2001
Reena Aggarwal
Georgetown University - Robert Emmett McDonough School of Business
Downloads 826 (62,960)
Citation 14

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IPOs, Flipping, Allocation, Penalty Bids, Trading Volume

Allocation of Initial Public Offerings and Flipping Activity

Posted: 14 Dec 2001
Reena Aggarwal
Georgetown University - Robert Emmett McDonough School of Business

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IPOs, Flipping, Trading volume, Allocation, Penalty bids

14.

Safe Asset Shortages: Evidence from the European Government Bond Lending Market

Georgetown McDonough School of Business Research Paper No. 2692251, Journal of Financial and Quantitative Analysis
Number of pages: 53 Posted: 19 Nov 2015 Last Revised: 02 Oct 2020
Reena Aggarwal, Jennie Bai and Luc Laeven
Georgetown University - Robert Emmett McDonough School of Business, Georgetown University - McDonough School of Business and European Central Bank (ECB)
Downloads 767 (70,537)
Citation 15

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safe asset, securities lending, velocity, European government bonds, collateral

15.

Ownership Structure and Initial Public Offerings

Number of pages: 31 Posted: 20 Apr 2016
Reena Aggarwal and Leora F. Klapper
Georgetown University - Robert Emmett McDonough School of Business and World Bank
Downloads 742 (73,749)

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Institutional Allocation in Initial Public Offerings: Empirical Evidence

Stanford GSB Research Paper No. 1747
Number of pages: 37 Posted: 02 Oct 2001
Reena Aggarwal, Nagpurnanand Prabhala and Manju Puri
Georgetown University - Robert Emmett McDonough School of Business, The Johns Hopkins Carey Business School and Duke University - Fuqua School of Business
Downloads 636 (88,617)
Citation 1

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Institutional Allocation in Initial Public Offerings: Empirical Evidence

NBER Working Paper No. w9070
Number of pages: 36 Posted: 20 Jul 2002 Last Revised: 15 Oct 2022
Reena Aggarwal, Nagpurnanand Prabhala and Manju Puri
Georgetown University - Robert Emmett McDonough School of Business, The Johns Hopkins Carey Business School and Duke University - Fuqua School of Business
Downloads 104 (557,568)
Citation 38

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Institutional Allocation in Initial Public Offerings: Empirical Evidence

Posted: 28 Nov 2001
Reena Aggarwal, Nagpurnanand Prabhala and Manju Puri
Georgetown University - Robert Emmett McDonough School of Business, The Johns Hopkins Carey Business School and Duke University - Fuqua School of Business

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IPOs; Allocations; Underpricing; Book-building

17.

Demutualization and Public Offerings of Financial Exchanges

Number of pages: 26 Posted: 01 Dec 2005
Reena Aggarwal and Sandeep Dahiya
Georgetown University - Robert Emmett McDonough School of Business and Georgetown University - McDonough School of Business
Downloads 630 (90,920)
Citation 16

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demutualization, stock exchanges, public offering

18.

Public Sentiment Decomposition and Shareholder Actions 

Fisher College of Business Working Paper No. 2024-26, FEB-RN Research Paper No. 46/2025
Number of pages: 61 Posted: 03 Dec 2024 Last Revised: 25 Mar 2025
Georgetown University - Robert Emmett McDonough School of Business, University of Alberta - School of Business, Ohio State University (OSU) - Department of Finance and University of Texas at Austin - Department of Finance
Downloads 533 (112,273)

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Public Opinion, Public Outrage, Proxy Advisors, Institutional Investors, Proxy Voting

19.

American Depositary Receipts (Adr) Holdings of U.S. Based Emerging Market Funds

Number of pages: 51 Posted: 01 Apr 2005
Reena Aggarwal, Sandeep Dahiya and Leora F. Klapper
Georgetown University - Robert Emmett McDonough School of Business, Georgetown University - McDonough School of Business and World Bank
Downloads 489 (124,659)

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20.

Do Corporate Governance Mandates Impact Long-Term Firm Value and Governance Culture?

Journal of Corporate Finance, Forthcoming, Georgetown McDonough School of Business Research Paper No. 2813650
Number of pages: 46 Posted: 27 Jul 2016
Georgetown University - Robert Emmett McDonough School of Business, Georgetown University - Department of Accounting and Business Law and Georgetown University - McDonough School of Business
Downloads 436 (142,950)
Citation 2

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Corporate Governance; Firm Value; Corporate Culture; Governance Regulation

21.
Downloads 421 (148,958)
Citation 25

Volatility in Emerging Stock Markets

Number of pages: 31 Posted: 09 Oct 2010
Reena Aggarwal, Carla Inclan and Ricardo P. C. Leal
Georgetown University - Robert Emmett McDonough School of Business, Georgetown University - McDonough School of Business and The COPPEAD Graduate School of Business
Downloads 421 (147,375)
Citation 25

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Volatility in Emerging Stock Markets

Journal of Financial and Quantitative Analysis March 1999
Posted: 26 Dec 1998 Last Revised: 24 Feb 2012
Reena Aggarwal, Carla Inclan and Ricardo P. C. Leal
Georgetown University - Robert Emmett McDonough School of Business, Fannie Mae and The COPPEAD Graduate School of Business

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22.

Price Discovery from Offer Price to Opening Price of Initial Public Offerings

Georgetown McDonough School of Business Research Paper No. 3874314
Number of pages: 55 Posted: 07 Jul 2021 Last Revised: 11 Dec 2024
Reena Aggarwal and Yanbin Wu
Georgetown University - Robert Emmett McDonough School of Business and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 319 (202,306)

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Initial Public Offerings, SPACs, Price Discovery, Opening Cross, Auction, Institutional Investors, Preopening

23.

The Role of 'Expert Reviewers' in Private Capital Markets

Georgetown McDonough School of Business Research Paper No. 3715643, European Corporate Governance Institute – Finance Working Paper 739/2021
Number of pages: 59 Posted: 16 Nov 2020 Last Revised: 19 Mar 2021
Reena Aggarwal, Kathleen Weiss Hanley and Xiaofei Zhao
Georgetown University - Robert Emmett McDonough School of Business, Lehigh University - College of Business and Georgetown University - McDonough School of Business
Downloads 232 (280,475)
Citation 2

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Private Markets, Information Asymmetry, Capital Raising, ICO, FinTech

24.

Price Discovery in Initial Public Offerings and the Role of the Lead Underwriter

Journal of Finance, December 2000
Number of pages: 30 Posted: 10 Oct 2010 Last Revised: 24 Feb 2012
Reena Aggarwal and Patrick Conroy
Georgetown University - Robert Emmett McDonough School of Business and affiliation not provided to SSRN
Downloads 227 (286,445)
Citation 4

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Downloads 184 (348,747)
Citation 4

ADR Holdings of U.S.- Based Emerging Market Funds

Number of pages: 50 Posted: 22 Mar 2005 Last Revised: 24 Feb 2012
Reena Aggarwal, Sandeep Dahiya and Leora F. Klapper
Georgetown University - Robert Emmett McDonough School of Business, Georgetown University - McDonough School of Business and World Bank
Downloads 184 (347,875)
Citation 4

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ADR, Emerging Markets, Portfolio Allocation, Shareholder Rights

ADR Holdings of U.S.-Based Emerging Market Funds

Journal of Banking and Finance, Vol. 31, No. 6, 2007
Posted: 09 Oct 2010
Reena Aggarwal, Sandeep Dahiya and Leora F. Klapper
Georgetown University - Robert Emmett McDonough School of Business, Georgetown University - McDonough School of Business and World Bank

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Emerging markets, Portfolio selection, Cross-listed stocks, ADRs

26.

What is an Exchange? The Changing Landscape 

Number of pages: 3 Posted: 13 Dec 2024
Reena Aggarwal
Georgetown University - Robert Emmett McDonough School of Business
Downloads 30 (1,019,124)

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Exchanges, Competition, Innovation, Regulation

27.

Fraud, Market Reaction, and Role of Institutional Investors in Chinese Listed Firms

Posted: 20 May 2019
Reena Aggarwal, May Hu and Jingjing Yang
Georgetown University - Robert Emmett McDonough School of Business, Deakin University and Guangdong University of Foreign Studies

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Corporate Governance, Fraud, Institutional Investors, China

28.

International Corporate Governance: Database for 23 Countries

Posted: 01 Nov 2010 Last Revised: 24 Feb 2012
Georgetown University - Robert Emmett McDonough School of Business, Ohio State University (OSU) - Department of Finance, Nova School of Business and Economics and University of Virginia - Darden School of Business

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Institutional Investors, International Corporate Governance, Shareholder Activism

29.

Price Discovery in Initial Public Offerings and Role of the Lead Underwriter

Journal of Finance, Vol. 55, No. 6, pp. 2903-2922, 2000
Posted: 11 Oct 2010
Reena Aggarwal and Patrick Conroy
Georgetown University - Robert Emmett McDonough School of Business and affiliation not provided to SSRN

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IPOs, Underwriters, Price Discovery

Stabilization Activities by Underwriters After Initial Public Offerings

Posted: 11 Oct 2010 Last Revised: 24 Feb 2012
Reena Aggarwal
Georgetown University - Robert Emmett McDonough School of Business

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Stabilization Activities by Underwriters After Initial Public Offerings

Journal of Finance, Vol. 60, No. 3, pp. 1075-1104, June 2000
Posted: 11 Oct 2010 Last Revised: 08 Nov 2012
Reena Aggarwal
Georgetown University - Robert Emmett McDonough School of Business

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31.

Migrant Labour Remittances in South Asia

MIGRANT LABOUR REMITTANCES IN SOUTH ASIA: DIRECTIONS IN DEVELOPMENT, Maimbo, S., Adams, R., Agrawal, R. and Passas, N., eds., 2005
Posted: 10 Jan 2006 Last Revised: 24 Feb 2012
WORLD BANK GROUP, World Bank - Development Research Group (DECRG), Northeastern University and Georgetown University - Robert Emmett McDonough School of Business

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Remittances, South Asia

32.

The Rise and Fall of the Amex Emerging Company Marketplace

Posted: 24 Aug 1998
Reena Aggarwal and James Angel
Georgetown University - Robert Emmett McDonough School of Business and Georgetown University - McDonough School of Business

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Optimal Listing Strategy: Why Microsoft and Intel Do Not List on the NYSE

Posted: 09 Sep 1996
Reena Aggarwal and James Angel
Georgetown University - Robert Emmett McDonough School of Business and Georgetown University - McDonough School of Business

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