Yishay Yafeh

Hebrew University of Jerusalem - Jerusalem School of Business Administration

Mount Scopus

Jerusalem 91905

Israel

http://bschool.huji.ac.il/facultye/yafeh/

European Corporate Governance Institute (ECGI)

Research Associate

c/o ECARES ULB CP 114

B-1050 Brussels

Belgium

http://www.ecgi.org

Centre for Economic Policy Research (CEPR)

77 Bastwick Street

London, EC1V 3PZ

United Kingdom

SCHOLARLY PAPERS

34

DOWNLOADS
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in Total Papers Downloads

8,900

CITATIONS
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SSRN RANKINGS

Top 1,390

in Total Papers Citations

399

Scholarly Papers (34)

Business Groups in Emerging Markets: Paragons or Parasites?

ECGI - Finance Working Paper No. 92/2005
Number of pages: 92 Posted: 23 Aug 2005
Tarun Khanna and Yishay Yafeh
Harvard University - Strategy Unit and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 2,407 (4,016)
Citation 88

Abstract:

business groups, emerging markets, corporate finance, shareholders

Business Groups in Emerging Markets: Paragons or Parasites?

CEPR Discussion Paper No. 5208
Number of pages: 90 Posted: 07 Oct 2005
Tarun Khanna and Yishay Yafeh
Harvard University - Strategy Unit and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 24 (441,806)
Citation 88
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Abstract:

Business groups, emerging markets

Sources of Funds and Investment Activities of Venture Capital Funds: Evidence from Germany, Israel, Japan and the UK

Number of pages: 39 Posted: 24 Apr 2002
Colin Mayer, Koen J. L. Schoors and Yishay Yafeh
University of Oxford - Said Business School, Ghent University-Universiteit Gent - Centre for Russian International Socio-Political and Economic Studies (CERISE) and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 917 (19,457)
Citation 60

Abstract:

venture capital, financial institutions, sources of funds

Sources of Funds and Investment Activities of Venture Capital Funds: Evidence from Germany, Israel, Japan and the UK

NBER Working Paper No. w9645
Number of pages: 42 Posted: 27 Apr 2003
Colin Mayer, Koen J. L. Schoors and Yishay Yafeh
University of Oxford - Said Business School, Ghent University-Universiteit Gent - Centre for Russian International Socio-Political and Economic Studies (CERISE) and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 62 (302,390)
Citation 60

Abstract:

Sources of Funds and Investment Activities of Venture Capital Funds: Evidence from Germany, Israel, Japan and the UK

CEPR Discussion Paper No. 3340
Number of pages: 41 Posted: 29 May 2002
Colin Mayer, Koen J. L. Schoors and Yishay Yafeh
University of Oxford - Said Business School, Ghent University-Universiteit Gent - Centre for Russian International Socio-Political and Economic Studies (CERISE) and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 28 (420,431)
Citation 60
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Abstract:

Venture capital, financial institutions, sources of funds

3.

Institutional Investors as Minority Shareholders

Number of pages: 41 Posted: 16 Jul 2010 Last Revised: 15 Apr 2015
Yishay Yafeh and Assaf Hamdani
Hebrew University of Jerusalem - Jerusalem School of Business Administration and Hebrew University - Faculty of Law
Downloads 950 (15,117)
Citation 1

Abstract:

Corporate Governance, Corporate Law, Institutional Investors, Minority Shareholders, Business Groups, Shareholder Activism, Mutual Funds, Emerging Markets

4.

Business Groups and Risk Sharing around the World

HBS Comp. & Strategy Working Paper
Number of pages: 62 Posted: 25 Jan 2001
Yishay Yafeh and Tarun Khanna
Hebrew University of Jerusalem - Jerusalem School of Business Administration and Harvard University - Strategy Unit
Downloads 895 (19,752)
Citation 59

Abstract:

5.
Downloads 640 ( 33,015)
Citation 58

Emerging Market Spreads: Then Versus Now

Number of pages: 54 Posted: 04 Jan 2001
Yishay Yafeh, Nathan Sussman and Paolo Mauro
Hebrew University of Jerusalem - Jerusalem School of Business Administration, Hebrew University of Jerusalem - Department of Economics and International Monetary Fund (IMF)
Downloads 431 (54,257)
Citation 58

Abstract:

Emerging Market Spreads: Then Versus Now

IMF Working Paper No. 00/190
Number of pages: 46 Posted: 06 Feb 2006
Paolo Mauro, Nathan Sussman and Yishay Yafeh
International Monetary Fund (IMF), Hebrew University of Jerusalem and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 186 (136,267)
Citation 58

Abstract:

Emerging markets, bond returns, international financial integration

Emerging Market Spreads: Then Versus Now

IMF Working Paper No. 00/190
Number of pages: 46 Posted: 11 Aug 2009
Paolo Mauro, Nathan Sussman and Yishay Yafeh
International Monetary Fund (IMF), Hebrew University of Jerusalem - Department of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 23 (447,523)
Citation 58

Abstract:

Emerging markets, Bonds

Do Cultural Differences Between Contracting Parties Matter? Evidence from Syndicated Bank Loans

AFA 2010 Atlanta Meetings Paper
Number of pages: 57 Posted: 06 Aug 2008 Last Revised: 17 Nov 2010
Mariassunta Giannetti and Yishay Yafeh
Stockholm School of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 598 (35,625)
Citation 24

Abstract:

Financial contracts, risk sharing, behavioral bias, culture

Do Cultural Differences between Contracting Parties Matter? Evidence from Syndicated Bank Loans

CEPR Discussion Paper No. DP7020
Number of pages: 58 Posted: 18 Dec 2008
Mariassunta Giannetti and Yishay Yafeh
Stockholm School of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 2 (568,509)
Citation 24
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Abstract:

Behavioral Bias, Culture, Financial Contracts, Home Bias, Risk Sharing, Syndicated Loans

Do Cultural Differences Between Contracting Parties Matter? Evidence from Syndicated Bank Loans

Management Science, Forthcoming
Posted: 22 Apr 2011
Mariassunta Giannetti and Yishay Yafeh
Stockholm School of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration

Abstract:

Financial contracts, risk sharing, behavioral bias, culture

7.

Vagabond Shoes Longing to Stray: Why Foreign Firms List in the United States

EFA 0708
Number of pages: 27 Posted: 07 Nov 2000
Yishay Yafeh and Asher Blass
Hebrew University of Jerusalem - Jerusalem School of Business Administration and Bank of Israel - Research Department
Downloads 402 (57,746)
Citation 32

Abstract:

IPO, Foreign Listing, Financing Innovation.

8.

Constitutions, Commitment, and the Historical Evidence on the Relation between Institutions, Property Rights and Financial Development

Number of pages: 28 Posted: 07 Jan 2003
Yishay Yafeh and Nathan Sussman
Hebrew University of Jerusalem - Jerusalem School of Business Administration and Hebrew University of Jerusalem - Department of Economics
Downloads 271 (93,400)

Abstract:

Property Rights, Institutions, Cost of Capital

9.

How Important Historically Were Financial Systems for Growth in the U.K., U.S., Germany, and Japan?

Number of pages: 55 Posted: 02 Nov 2010
Imperial College London, Bank of England, Emory University, Waseda University - Graduate School of Commerce, New York University - Stern School of Business, Department of Economics, Hebrew University of Jerusalem - Jerusalem School of Business Administration and Cass Business School
Downloads 230 (92,304)
Citation 2

Abstract:

Incentive Fees and Competition in Pension Funds: Evidence from a Regulatory Experiment in Israel

Hebrew University of Jerusalem Legal Research Paper No. 15-33
Number of pages: 39 Posted: 22 Sep 2015 Last Revised: 01 Apr 2016
Hebrew University - Faculty of Law, Hebrew University of Jerusalem - Department of Economics, Hebrew University of Jerusalem - Jerusalem School of Business Administration and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 186 (136,267)

Abstract:

incentives, competition, pensions

Incentive Fees and Competition in Pension Funds: Evidence from a Regulatory Experiment in Israel

CEPR Discussion Paper No. DP10911
Number of pages: 40 Posted: 04 Nov 2015
Hebrew University - Faculty of Law, Hebrew University of Jerusalem - Department of Economics, Hebrew University of Jerusalem - Jerusalem School of Business Administration and Hebrew University of Jerusalem - Jerusalem School of Business Administration
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Abstract:

Competition, Incentives, Pension Funds, Retirement Savings

Additions to Market Indices and the Comovement of Stock Returns Around the World

IMF Working Paper No. 11/47
Number of pages: 35 Posted: 09 Mar 2011
Stijn Claessens and Yishay Yafeh
Bank for International Settlements and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 95 (234,225)
Citation 2

Abstract:

Cross country analysis, Demand, International capital markets, Investment, Stock markets, Stock prices

Comovement of Newly Added Stocks with National Market Indices: Evidence from Around the World

Number of pages: 37 Posted: 05 May 2009 Last Revised: 28 Oct 2011
Stijn Claessens and Yishay Yafeh
Bank for International Settlements and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 71 (280,754)
Citation 2

Abstract:

index inclusion, comovement

Additions to Market Indices and the Comovement of Stock Returns around the World

CEPR Discussion Paper No. DP7052
Number of pages: 30 Posted: 18 Dec 2008
Stijn Claessens and Yishay Yafeh
Bank for International Settlements and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 3 (560,338)
Citation 2
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Abstract:

Beta, Comovement, Index inclusion

Can Venture Capital Funds Pick Winners? Evidence from Pre-IPO Survival Rates and Post-IPO Performance

Israel Economic Review, Vol. 5, No. 1, pp. 23-46, 2007
Number of pages: 24 Posted: 25 Nov 2012
Hedva Ber and Yishay Yafeh
Bank of Israel - Research Department and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 91 (240,950)
Citation 8

Abstract:

Can Venture Capital Funds Pick Winners? Evidence from Pre-IPO Survival Rates and Post-IPO Performance

CEPR Discussion Paper No. 4672
Number of pages: 36 Posted: 14 Dec 2004
Hedva Ber and Yishay Yafeh
Bank of Israel - Research Department and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 44 (355,952)
Citation 8
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Abstract:

Venture capital, IPO, survival rate, long-run performance

13.
Downloads 126 (189,644)
Citation 3

Financial Frictions, Investment, and Institutions

IMF Working Paper No. 10/231
Number of pages: 46 Posted: 01 Feb 2011
Stijn Claessens, Kenichi Ueda and Yishay Yafeh
Bank for International Settlements, University of Tokyo - Faculty of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 123 (193,992)
Citation 3

Abstract:

Business cycles, Corporate governance, Corporate sector, Development, Economic growth, Economic models, Investment

Financial Frictions, Investment, and Institutions

CEPR Discussion Paper No. DP8170
Number of pages: 47 Posted: 18 Jan 2011
Stijn Claessens, Kenichi Ueda and Yishay Yafeh
Bank for International Settlements, University of Tokyo - Faculty of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 3 (560,338)
Citation 3
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Abstract:

corporate governance, creditor rights, Financial friction, institutions, investment

14.

The Great Pyramids of America: A Revised History of US Business Groups, Corporate Ownership and Regulation, 1930-1950

NBER Working Paper No. w19691, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 449/2015
Number of pages: 64 Posted: 15 Apr 2015
Hebrew University of Jerusalem - Department of Economics, Bank of Israel, National Bureau of Economic Research (NBER) and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 119 (145,564)

Abstract:

Corporate Groups; Corporate Ownership; US Financial History; New Deal

15.

The Corporation of Foreign Bondholders

IMF Working Paper No. 03/107
Number of pages: 32 Posted: 29 Jan 2006
Paolo Mauro and Yishay Yafeh
International Monetary Fund (IMF) and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 81 (223,179)
Citation 10

Abstract:

foreign bondholders, bond finance, creditor coordination

16.

Institutions, Financial Frictions, and Investment: Estimation with Structural Restrictions

Number of pages: 58 Posted: 12 May 2012
Stijn Claessens, Kenichi Ueda and Yishay Yafeh
Bank for International Settlements, University of Tokyo - Faculty of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 54 (293,826)

Abstract:

Financial friction, investment, Tobin’s Q, institutions, investor protection

17.

An International Perspective of Japan's Corporate Groups and Their Prospects

NBER Working Paper No. w9386
Number of pages: 33 Posted: 19 Dec 2002 Last Revised: 31 Oct 2010
Yishay Yafeh
Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 40 (349,543)
Citation 6

Abstract:

18.

Constitutions and Commitment: Evidence on the Relation Between Institutions and the Cost of Capital

CEPR Discussion Paper No. 4404
Number of pages: 34 Posted: 23 Jun 2004
Nathan Sussman and Yishay Yafeh
Hebrew University of Jerusalem - Department of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 31 (396,438)
Citation 11
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Abstract:

Institutions, financial development

19.

The Determinants of Israel’s Cost of Capital: Globalization, Reforms and Politics

Israel Economic Review, Vol. 2, No. 1, 2004
Number of pages: 26 Posted: 11 Nov 2012
Osnat Peled, Asher Blass and Yishay Yafeh
affiliation not provided to SSRN, Bank of Israel - Research Department and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 26 (392,369)
Citation 2

Abstract:

20.

Bloodshed or Reforms? The Determinants of Sovereign Bond Spreads in 1870-1913 and Today

CEPR Discussion Paper No. 5528
Number of pages: 38 Posted: 15 Jun 2006
Yishay Yafeh, Paolo Mauro and Nathan Sussman
Hebrew University of Jerusalem - Jerusalem School of Business Administration, International Monetary Fund (IMF) and Hebrew University of Jerusalem
Downloads 25 (423,728)
Citation 1
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Abstract:

Emerging markets, financial globalization, bond yields

21.

Japan's Banking Crisis: Who Has the Most to Lose?

CEPR Discussion Paper No. 4403
Number of pages: 40 Posted: 25 Jun 2004
Hideaki Miyajima and Yishay Yafeh
Waseda University - Graduate School of Commerce and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 21 (444,252)
Citation 3
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Abstract:

Japan's banking crisis, bank-firm relations, event study

The Great Pyramids of America: A Revised History of Us Business Groups, Corporate Ownership and Regulation, 1930-1950

NBER Working Paper No. w19691
Number of pages: 59 Posted: 10 Dec 2013
Hebrew University of Jerusalem - Department of Economics, Bank of Israel, National Bureau of Economic Research (NBER) and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 19 (470,751)

Abstract:

Business Groups in the United States: A Revised History of Corporate Ownership, Pyramids and Regulation, 1930-1950

CEPR Discussion Paper No. DP9759
Number of pages: 62 Posted: 25 Nov 2013
Hebrew University of Jerusalem - Department of Economics, Bank of Israel, National Bureau of Economic Research (NBER) and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 0
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Abstract:

Business Groups, Corporate Ownership, Financial Market Regulation, Pyramids

23.

Large Shareholders and Banks: Who Monitors and How?

The Economic Journal, Vol. 113, pp. 128-146, 2003
Number of pages: 19 Posted: 08 Mar 2003
Yishay Yafeh and Oved Yosha
Hebrew University of Jerusalem - Jerusalem School of Business Administration and Tel Aviv University - The Eitan Berglas School of Economics (Deceased)
Downloads 15 (475,501)
Citation 25
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Abstract:

24.

Institutional Investors as Minority Shareholders: Do They Matter When Ownership is Concentrated?

CEPR Discussion Paper No. DP7934
Number of pages: 49 Posted: 26 Jul 2010
Assaf Hamdani and Yishay Yafeh
Hebrew University - Faculty of Law and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 2 (541,518)
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Abstract:

Business Groups, Corporate Governance, Corporate Law, Emerging Markets, Institutional Investors, Minority Shareholders, Mutual Funds, Shareholder Activism

25.

Long Term Changes in Voting Power and Control Structure Following the Unification of Dual Class Shares

CEPR Discussion Paper No. DP7287
Number of pages: 37 Posted: 15 Jul 2009
Beni Lauterbach and Yishay Yafeh
Bar-Ilan University - Graduate School of Business Administration and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 2 (541,518)
Citation 2
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Abstract:

Corporate Governance, Dual class shares

26.

Incentive Fees and Competition in Pension Funds: Evidence from a Regulatory Experiment

NBER Working Paper No. w22634
Number of pages: 48 Posted: 20 Sep 2016
Hebrew University - Faculty of Law, Hebrew University of Jerusalem - Department of Economics, Hebrew University of Jerusalem - Jerusalem School of Business Administration and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 0 (506,230)
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Abstract:

27.

Incentive Fees and Competition in Pension Funds: Evidence from a Regulatory Experiment

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 459/2016
Number of pages: 49 Posted: 17 Feb 2016
Hebrew University - Faculty of Law, Hebrew University of Jerusalem - Department of Economics, Hebrew University of Jerusalem - Jerusalem School of Business Administration and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 0 (239,153)

Abstract:

competition, incentives, pension funds, retirement savings

28.

Industrial Organization of Financial Systems and Strategic Use of Relationship Banking

European Finance Review, Vol. 5, No. 1-2
Posted: 18 Jan 2002
Yishay Yafeh and Oved Yosha
Hebrew University of Jerusalem - Jerusalem School of Business Administration and Tel Aviv University - The Eitan Berglas School of Economics (Deceased)

Abstract:

relationship banking, competition in banking, universal banking, multi-product banking, entry deterrence

29.

Corporate Governance In Japan: Past Performance And Future Prospects

Oxford Review of Economic Policy, Vol. 16, Issue 2, Summer 2000
Posted: 30 Sep 2000
Yishay Yafeh
Hebrew University of Jerusalem - Jerusalem School of Business Administration

Abstract:

30.

Conflict of Interest in Universal Banking: Bank Lending, Stock Underwriting, and Fund Management

CEPR Discussion Paper No. 2359
Posted: 18 Apr 2000
Hedva Ber, Yishay Yafeh and Oved Yosha
Bank of Israel - Research Department, Hebrew University of Jerusalem - Jerusalem School of Business Administration and Tel Aviv University - The Eitan Berglas School of Economics (Deceased)

Abstract:

Universal Banking, Conflict Of Interest, Bank Underwriting and Fund Management, Initial Public Offerings

31.

Institutions, Reforms, and Country Risk: Lessons from Japanese Government Debt in the Meiji Period

Posted: 06 Feb 1999
Nathan Sussman and Yishay Yafeh
Hebrew University of Jerusalem - Department of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration

Abstract:

32.

Financial Markets Reform, Patterns of Corporate Finance, and the Continued Dominance of Large Banks: Israel 1985-95

Economic Systems, Vol. 22, No. 2, June 1998
Posted: 19 Aug 1998
Yishay Yafeh and Oved Yosha
Hebrew University of Jerusalem - Jerusalem School of Business Administration and Tel Aviv University - The Eitan Berglas School of Economics (Deceased)

Abstract:

33.

Conflict of Interest in Universal Banking: Evidence from the Post-Issue Performance of IPO Firms

Tel Aviv University Discussion Paper No. 97-18
Posted: 04 Nov 1997
Hedva Ber, Oved Yosha and Yishay Yafeh
Bank of Israel - Research Department, Tel Aviv University - The Eitan Berglas School of Economics (Deceased) and Hebrew University of Jerusalem - Jerusalem School of Business Administration

Abstract:

34.

On the Costs of a Bank Centered Financial System: Evidence from the Changing Main Bank Relations in Japan

Posted: 28 Feb 1995
David E. Weinstein and Yishay Yafeh
Columbia University - Graduate School of Arts and Sciences - Department of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration

Abstract: