Asaf Manela

Washington University in St. Louis - John M. Olin Business School

Assistant Professor of Finance

One Brookings Drive

Campus Box 1133

St. Louis, MO 63130-4899

United States

http://apps.olin.wustl.edu/faculty/manela

Reichman University

Israel

  • Washington University in St. Louis - John M. Olin Business School

    • Email
    • Tel: 314-935-9178

  • Reichman University

SCHOLARLY PAPERS

17

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Top 4,360

in Total Papers Downloads

17,220

SSRN CITATIONS
Rank 1,762

SSRN RANKINGS

Top 1,762

in Total Papers Citations

865

CROSSREF CITATIONS

132

Scholarly Papers (17)

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1.

Business News and Business Cycles

Downloads 7,337 ( 1,859)
Citation 30

Business News and Business Cycles

Journal of Finance, Forthcoming
Number of pages: 78 Posted: 07 Sep 2019 Last Revised: 27 Jul 2023
Leland Bybee, Bryan T. Kelly, Asaf Manela and Dacheng Xiu
Yale School of Management, Yale SOM, Washington University in St. Louis - John M. Olin Business School and University of Chicago - Booth School of Business
Downloads 7,037 (1,983)
Citation 3

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Textual analysis, macroeconomic news, attention, Wall Street Journal, volatility, VAR, machine learning

The Structure of Economic News

NBER Working Paper No. w26648
Number of pages: 55 Posted: 22 Jan 2020 Last Revised: 24 Apr 2023
Leland Bybee, Bryan T. Kelly, Asaf Manela and Dacheng Xiu
Yale School of Management, Yale SOM, Washington University in St. Louis - John M. Olin Business School and University of Chicago - Booth School of Business
Downloads 238 (245,098)
Citation 5

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Business News and Business Cycles

NBER Working Paper No. w29344
Number of pages: 66 Posted: 11 Oct 2021 Last Revised: 16 Apr 2023
Leland Bybee, Bryan T. Kelly, Asaf Manela and Dacheng Xiu
Yale School of Management, Yale SOM, Washington University in St. Louis - John M. Olin Business School and University of Chicago - Booth School of Business
Downloads 62 (679,013)
Citation 16

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2.

Text Selection

Downloads 1,624 (21,900)
Citation 12

Text Selection

Number of pages: 57 Posted: 10 Dec 2019
Bryan T. Kelly, Asaf Manela and Alan Moreira
Yale SOM, Washington University in St. Louis - John M. Olin Business School and University of Rochester - Simon Business School
Downloads 1,563 (22,833)
Citation 3

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Text analysis, machine learning, selection model, high dimension forecast, multinomial regression, hurdle, zero inflation, partisanship, intermediary capital

Text Selection

NBER Working Paper No. w26517
Number of pages: 58 Posted: 03 Dec 2019 Last Revised: 16 Jun 2023
Bryan T. Kelly, Asaf Manela and Alan Moreira
Yale SOM, Washington University in St. Louis - John M. Olin Business School and University of Rochester - Simon Business School
Downloads 61 (684,559)
Citation 9

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3.

Does Finance Benefit Society? A Language Embedding Approach

Number of pages: 52 Posted: 03 Aug 2020 Last Revised: 15 Mar 2023
Manish Jha, Hongyi Liu and Asaf Manela
Georgia State University - Department of Finance, Washington University in St. Louis - Department of Economics and Washington University in St. Louis - John M. Olin Business School
Downloads 1,285 (31,116)
Citation 8

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sentiment, text analysis, word embedding, BERT, transfer learning, financial crises

4.

News Implied Volatility and Disaster Concerns

Journal of Financial Economics (JFE), Vol. 123, No. 1, 2017
Number of pages: 63 Posted: 21 Jan 2014 Last Revised: 10 Jan 2017
Asaf Manela and Alan Moreira
Washington University in St. Louis - John M. Olin Business School and University of Rochester - Simon Business School
Downloads 975 (46,079)
Citation 59

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Text-based analysis, implied volatility, rare disasters, equity premium, return predictability, machine learning

5.

The Partisanship of Financial Regulators

The Review of Financial Studies, Volume 36, Issue 11, November 2023, Pages 4373–4416, https://doi.org/10.1093/rfs/hhad029
Number of pages: 79 Posted: 14 Nov 2019 Last Revised: 21 Jan 2024
Joseph Engelberg, Matthew Henriksson, Asaf Manela and Jared Williams
University of California, San Diego (UCSD) - Rady School of Management, University of Tennessee, Knoxville - Haslam College of Business, Washington University in St. Louis - John M. Olin Business School and University of South Florida
Downloads 813 (59,170)
Citation 5

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Partisanship, Financial Regulation, Textual Analysis

6.

Fundamentals of Perpetual Futures

Number of pages: 64 Posted: 23 Dec 2022 Last Revised: 21 Aug 2024
Songrun He, Asaf Manela, Omri Ross and Victor von Wachter
Washington University in St. Louis - John M. Olin Business School, Washington University in St. Louis - John M. Olin Business School, University of Copenhagen and University of Copenhagen - Department of Computer Science
Downloads 783 (62,372)
Citation 2

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Perpetual futures, crypto, random-maturity arbitrage, funding rate

7.

The Shadow Cost of Bank Capital Requirements

Review of Financial Studies, Forthcoming
Number of pages: 53 Posted: 19 Jun 2013 Last Revised: 24 Feb 2016
Roni Kisin and Asaf Manela
FDIC and Washington University in St. Louis - John M. Olin Business School
Downloads 695 (72,735)
Citation 24

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Financial intermediation, Bank capital requirements, Cost of capital regulation, Leverage, Regulatory Arbitrage, Loophole

8.

The Value of Data to Fixed Income Investors

Georgetown McDonough School of Business Research Paper No. 4343095
Number of pages: 30 Posted: 31 Jan 2023
Jennie Bai, Jian Li and Asaf Manela
Georgetown University - McDonough School of Business, Columbia University - Columbia Business School, Finance and Washington University in St. Louis - John M. Olin Business School
Downloads 531 (102,029)

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value of data, information, fixed income, corporate bond, institutional investor

9.

Natural Disaster Effects on Popular Sentiment toward Finance

Journal of Financial and Quantitative Analysis, volume 56, issue 7, 2021 [10.1017/S0022109021000466]
Number of pages: 35 Posted: 04 May 2021 Last Revised: 05 Aug 2024
Manish Jha, Hongyi Liu and Asaf Manela
Georgia State University - Department of Finance, Washington University in St. Louis - Department of Economics and Washington University in St. Louis - John M. Olin Business School
Downloads 526 (103,221)
Citation 8

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sentiment, natural disasters, text analysis, word embedding, COVID-19

10.

An Empirical Evaluation of the Black-Litterman Approach to Portfolio Choice

Number of pages: 37 Posted: 12 Mar 2011 Last Revised: 26 Oct 2012
Michael Gofman and Asaf Manela
Hebrew University of Jerusalem - Jerusalem School of Business Administration and Washington University in St. Louis - John M. Olin Business School
Downloads 490 (112,478)

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Bayesian portfolio choice, learning from prices, Black-Litterman

11.

Liquidity and the Strategic Value of Information

Number of pages: 53 Posted: 09 Jul 2020 Last Revised: 07 Dec 2021
Ohad Kadan and Asaf Manela
Washington University in St. Louis - John M. Olin Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 489 (113,038)
Citation 3

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value of information, liquidity, strategic trading, Covid-19

12.

Hub-and-Spoke Regulation and Bank Leverage

Number of pages: 51 Posted: 25 Oct 2017
Yadav Gopalan, Ankit Kalda and Asaf Manela
University of Notre Dame - Department of Accountancy, Indiana University - Kelley School of Business - Department of Finance and Washington University in St. Louis - John M. Olin Business School
Downloads 396 (144,334)
Citation 16

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hub-and-spoke, financial regulation, bank supervision, field offices, distance, proximity, regulatory capture

13.

Funding and Incentives of Regulators: Evidence from Banking

Number of pages: 62 Posted: 20 Nov 2014 Last Revised: 28 Nov 2018
Roni Kisin and Asaf Manela
FDIC and Washington University in St. Louis - John M. Olin Business School
Downloads 330 (176,274)
Citation 3

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Regulation, User fees, Funding Regulation, Financial Regulation

14.

Information Acquisition in Rumor-Based Bank Runs

Downloads 265 (221,471)
Citation 40

Information Acquisition in Rumor-Based Bank Runs

Journal of Finance, Forthcoming
Number of pages: 55 Posted: 02 Sep 2011 Last Revised: 21 Jan 2014
Zhiguo He and Asaf Manela
Stanford University - Knight Management Center and Washington University in St. Louis - John M. Olin Business School
Downloads 204 (283,695)
Citation 1

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Bank runs, learning, information acquisition, belief heterogeneity, asynchronous awareness, temporal coordination, stress tests

Information Acquisition in Rumor Based Bank Runs

NBER Working Paper No. w18513
Number of pages: 55 Posted: 03 Nov 2012 Last Revised: 01 Feb 2023
Zhiguo He and Asaf Manela
Stanford University - Knight Management Center and Washington University in St. Louis - John M. Olin Business School
Downloads 61 (684,559)
Citation 33

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15.

Intermediary Asset Pricing: New Evidence from Many Asset Classes

NBER Working Paper No. w21920
Number of pages: 69 Posted: 25 Jan 2016 Last Revised: 25 May 2023
Zhiguo He, Bryan T. Kelly and Asaf Manela
Stanford University - Knight Management Center, Yale SOM and Washington University in St. Louis - John M. Olin Business School
Downloads 256 (229,234)
Citation 465

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16.

The Value of Diffusing Information

Journal of Financial Economics (JFE), Vol. 111, No. 1, 2014
Number of pages: 43 Posted: 18 Nov 2008 Last Revised: 21 Jan 2014
Asaf Manela
Washington University in St. Louis - John M. Olin Business School
Downloads 225 (259,835)
Citation 9

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Value of information, Information diffusion, Percolation, Media coverage, Drug approvals

17.

Estimating the Value of Information

Number of pages: 83 Posted: 04 Jun 2016 Last Revised: 09 Jul 2020
Ohad Kadan and Asaf Manela
Washington University in St. Louis - John M. Olin Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 200 (289,785)
Citation 19

Abstract:

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value of information, informativeness, options prices, recovery