Details about G. Andrew Karolyi

E-mail:
Homepage:	http://www.johnson.cornell.edu/faculty/profiles/Karolyi/
Phone:	(607) 255-2153
Postal address:	Cornell University Johnson Graduate School of Management 348 Sage Hall Ithaca, NY 14853
Workplace:	Johnson Graduate School of Management, Cornell University, (more information at EDIRC)

Access statistics for papers by G. Andrew Karolyi.

Last updated 2017-03-16. Update your information in the RePEc Author Service.

Short-id: pka329

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Working Papers

2020

1. The US Equity Valuation Premium, Globalization, and Climate Change Risks
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)

2018

2. Eclipse of the Public Corporation or Eclipse of the Public Markets?
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)

2016

3. The Coming Wave: Where Do Emerging Market Investors Put Their Money?
   Working Papers, Hong Kong Institute for Monetary Research View citations (1)
   Also in IZA Discussion Papers, Institute of Labor Economics (IZA) (2015) View citations (3)
   NBER Working Papers, National Bureau of Economic Research, Inc (2015) View citations (3)

2015

4. The U.S. Listing Gap
   Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (1)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2015) View citations (1)

2013

5. The Coming Wave
   Working Papers, Hong Kong Institute for Monetary Research View citations (5)

2012

6. Financial Globalization and the Rise of IPOs outside the U.S
   Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (3)

2011

7. The U.S. Left Behind: The Rise of IPO Activity Around the World
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
   Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2011) View citations (5)

2010

8. What is Different about Government-Controlled Acquirers in Cross-Border Acquisitions?
   Working Papers, Fondazione Eni Enrico Mattei View citations (14)

2009

9. Why Do Foreign Firms Leave U.S. Equity Markets?
   Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (2)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (3)
   See also Journal Article Why Do Foreign Firms Leave U.S. Equity Markets?, Journal of Finance, American Finance Association (2010) View citations (53) (2010)

2008

10. Discussion of 'A Lobbying Approach to Evaluating the Sarbanes-Oxley Act of 2002'
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics
    See also Journal Article Discussion of A Lobbying Approach to Evaluating the Sarbanes‐Oxley Act of 2002, Journal of Accounting Research, Wiley Blackwell (2009) View citations (5) (2009)
11. Why Do Foreign Firms Leave U.S. Equity Markets? An Analysis of Deregistrations under SEC Exchange Act Rule 12h-6
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (4)

2007

12. An Assessment of Terrorism-Related Investing Strategies
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (1)
13. Common Patterns in Commonality in Returns, Liquidity, and Turnover around the World
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics
14. Has New York Become Less Competitive in Global Markets? Evaluating Foreign Listing Choices Over Time
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (25)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2007) View citations (23)
15. Indirect robust estimation of the short-term interest rate process
    Post-Print, HAL View citations (17)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2005)
    FAME Research Paper Series, International Center for Financial Asset Management and Engineering (2005)
    See also Journal Article Indirect robust estimation of the short-term interest rate process, Journal of Empirical Finance, Elsevier (2007) View citations (17) (2007)
16. Information, Trading Volume, and International Stock Return Comovements: Evidence from Cross-Listed Stocks
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (1)
    See also Journal Article Information, Trading Volume, and International Stock Return Comovements: Evidence from Cross-Listed Stocks, Journal of Financial and Quantitative Analysis, Cambridge University Press (2009) View citations (37) (2009)

2006

17. Price and Volatility Transmission across Borders
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (49)
18. The Consequences of Terrorism for Financial Markets: What Do We Know?
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (30)
19. What Factors Drive Global Stock Returns?
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (9)
    See also Journal Article What Factors Drive Global Stock Returns?, The Review of Financial Studies, Society for Financial Studies (2011) View citations (241) (2011)

2005

20. Private Benefits of Control, Ownership, and the Cross-Listing Decision
    Working Papers, University of Pennsylvania, Wharton School, Weiss Center View citations (21)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (25)
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2005) View citations (21)
    See also Journal Article Private Benefits of Control, Ownership, and the Cross‐listing Decision, Journal of Finance, American Finance Association (2009) View citations (134) (2009)
21. Terrorism and the Stock Market
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (12)

2004

22. Multi-market Trading and Arbitrage
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (23)
    See also Journal Article Multi-market trading and arbitrage, Journal of Financial Economics, Elsevier (2010) View citations (98) (2010)
23. The Economic Consequences of Increased Disclosure:Evidence from International Cross-Listings
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (2)
    See also Journal Article The economic consequences of increased disclosure: Evidence from international cross-listings, Journal of Financial Economics, Elsevier (2006) View citations (164) (2006)
24. The Impact of the Introduction of the Euro on Foreign Exchange Rate Risk Exposures
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics
    Also in Finance, University Library of Munich, Germany (2003) View citations (3)
    See also Journal Article The impact of the introduction of the Euro on foreign exchange rate risk exposures, Journal of Empirical Finance, Elsevier (2006) View citations (66) (2006)
25. The World of Cross-Listings and Cross-Listings of the World: Challenging Conventional Wisdom
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (22)
    See also Journal Article The World of Cross-Listings and Cross-Listings of the World: Challenging Conventional Wisdom, Review of Finance, European Finance Association (2006) View citations (202) (2006)
26. Understanding Electricity Price Volatility within and across Markets
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (26)
27. Why Do Countries Matter So Much for Corporate Governance?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (46)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2004) View citations (42)
    See also Journal Article Why do countries matter so much for corporate governance?, Journal of Financial Economics, Elsevier (2007) View citations (450) (2007)

2003

28. International Real Estate Returns: A Multifactor, Multicountry Approach
    ERES, European Real Estate Society (ERES) View citations (43)
    See also Journal Article International Real Estate Returns: A Multifactor, Multicountry Approach, Real Estate Economics, American Real Estate and Urban Economics Association (2003) View citations (53) (2003)

2002

29. Are Financial Assets Priced Locally or Globally?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (142)
    See also Chapter Are financial assets priced locally or globally?, Handbook of the Economics of Finance, Elsevier (2003) View citations (245) (2003)

2001

30. A new approach to measuring financial contagion
    Proceedings, Federal Reserve Bank of Chicago View citations (3)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (38)
    See also Journal Article A New Approach to Measuring Financial Contagion, The Review of Financial Studies, Society for Financial Studies (2003) View citations (660) (2003)
31. Why are Foreign Firms Listed in the U.S. Worth More?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (42)
    See also Journal Article Why are foreign firms listed in the U.S. worth more?, Journal of Financial Economics, Elsevier (2004) View citations (605) (2004)

1992

32. Global Financial Markets and the Risk Premium on U.S. Equity
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (127)
    See also Journal Article Global financial markets and the risk premium on U.S. equity, Journal of Financial Economics, Elsevier (1992) View citations (161) (1992)

Undated

33. Adjusted Forward Rates as Predictors of Future Spot Rates
    Research in Financial Economics, Ohio State University View citations (6)
34. Another Look at the Role of the Industrial Structure of Markets for International Diversification Strategies
    Research in Financial Economics, Ohio State University View citations (18)
    See also Journal Article Another look at the role of the industrial structure of markets for international diversification strategies, Journal of Financial Economics, Elsevier (1998) View citations (195) (1998)
35. The Effects of Market Segmentation and Illiquidity on Asset Prices: Evidence from Foreign Stocks Listing in the US
    Research in Financial Economics, Ohio State University View citations (9)
36. Why do Markets Move Together? An Investigation of U.S.-Japan Stock Return Comovements using ADRS
    Research in Financial Economics, Ohio State University View citations (4)

Journal Articles

2016

1. Home Bias, an Academic Puzzle
   Review of Finance, 2016, 20, (6), 2049-2078 View citations (41)
2. The Cross-Section of Expected Returns: Where We Stand Today
   The Review of Financial Studies, 2016, 29, (1), 2-4
3. The gravity of culture for finance
   Journal of Corporate Finance, 2016, 41, (C), 610-625 View citations (105)

2015

4. Regulatory Arbitrage and Cross‐Border Bank Acquisitions
   Journal of Finance, 2015, 70, (6), 2395-2450 View citations (68)

2013

5. The U.S. left behind? Financial globalization and the rise of IPOs outside the U.S
   Journal of Financial Economics, 2013, 110, (3), 546-573 View citations (63)

2012

6. Corporate governance, agency problems and international cross-listings: A defense of the bonding hypothesis
   Emerging Markets Review, 2012, 13, (4), 516-547 View citations (64)
7. Understanding commonality in liquidity around the world
   Journal of Financial Economics, 2012, 105, (1), 82-112 View citations (322)

2011

8. The Ultimate Irrelevance Proposition in Finance?
   The Financial Review, 2011, 46, (4), 485-512 View citations (6)
9. What Factors Drive Global Stock Returns?
   The Review of Financial Studies, 2011, 24, (8), 2527-2574 View citations (241)
   See also Working Paper What Factors Drive Global Stock Returns?, Working Paper Series (2006) View citations (9) (2006)

2010

10. Multi-market trading and arbitrage
    Journal of Financial Economics, 2010, 97, (1), 53-80 View citations (98)
    See also Working Paper Multi-market Trading and Arbitrage, Working Paper Series (2004) View citations (23) (2004)
11. Why Do Foreign Firms Leave U.S. Equity Markets?
    Journal of Finance, 2010, 65, (4), 1507-1553 View citations (53)
    See also Working Paper Why Do Foreign Firms Leave U.S. Equity Markets?, Working Paper Series (2009) View citations (2) (2009)

2009

12. A (partial) resolution of the Chinese discount puzzle
    Journal of Financial Economic Policy, 2009, 1, (1), 80-106 View citations (8)
13. Discussion of A Lobbying Approach to Evaluating the Sarbanes‐Oxley Act of 2002
    Journal of Accounting Research, 2009, 47, (2), 585-595 View citations (5)
    See also Working Paper Discussion of 'A Lobbying Approach to Evaluating the Sarbanes-Oxley Act of 2002', Working Paper Series (2008) (2008)
14. Has New York become less competitive than London in global markets? Evaluating foreign listing choices over time
    Journal of Financial Economics, 2009, 91, (3), 253-277 View citations (124)
15. Information, Trading Volume, and International Stock Return Comovements: Evidence from Cross-Listed Stocks
    Journal of Financial and Quantitative Analysis, 2009, 44, (4), 953-986 View citations (37)
    See also Working Paper Information, Trading Volume, and International Stock Return Comovements: Evidence from Cross-Listed Stocks, Working Paper Series (2007) View citations (1) (2007)
16. Private Benefits of Control, Ownership, and the Cross‐listing Decision
    Journal of Finance, 2009, 64, (1), 425-466 View citations (134)
    See also Working Paper Private Benefits of Control, Ownership, and the Cross-Listing Decision, Working Papers (2005) View citations (21) (2005)

2007

17. Indirect robust estimation of the short-term interest rate process
    Journal of Empirical Finance, 2007, 14, (4), 546-563 View citations (17)
    See also Working Paper Indirect robust estimation of the short-term interest rate process, Post-Print (2007) View citations (17) (2007)
18. Multimarket Trading and Liquidity: Theory and Evidence
    Journal of Finance, 2007, 62, (5), 2169-2200 View citations (53)
19. Why do countries matter so much for corporate governance?
    Journal of Financial Economics, 2007, 86, (1), 1-39 View citations (450)
    See also Working Paper Why Do Countries Matter So Much for Corporate Governance?, NBER Working Papers (2004) View citations (46) (2004)

2006

20. The World of Cross-Listings and Cross-Listings of the World: Challenging Conventional Wisdom
    Review of Finance, 2006, 10, (1), 99-152 View citations (202)
    See also Working Paper The World of Cross-Listings and Cross-Listings of the World: Challenging Conventional Wisdom, Working Paper Series (2004) View citations (22) (2004)
21. The economic consequences of increased disclosure: Evidence from international cross-listings
    Journal of Financial Economics, 2006, 81, (1), 175-213 View citations (164)
    See also Working Paper The Economic Consequences of Increased Disclosure:Evidence from International Cross-Listings, Working Paper Series (2004) View citations (2) (2004)
22. The impact of the introduction of the Euro on foreign exchange rate risk exposures
    Journal of Empirical Finance, 2006, 13, (4-5), 519-549 View citations (66)
    See also Working Paper The Impact of the Introduction of the Euro on Foreign Exchange Rate Risk Exposures, Working Paper Series (2004) (2004)

2004

23. DOES INTERNATIONAL FINANCIAL CONTAGION REALLY EXIST?
    Journal of Applied Corporate Finance, 2004, 16, (2‐3), 136-146 View citations (15)
24. Momentum strategies: some bootstrap tests
    Journal of Empirical Finance, 2004, 11, (4), 509-536 View citations (17)
25. The Role of American Depositary Receipts in the Development of Emerging Equity Markets
    The Review of Economics and Statistics, 2004, 86, (3), 670-690 View citations (37)
26. Why are foreign firms listed in the U.S. worth more?
    Journal of Financial Economics, 2004, 71, (2), 205-238 View citations (605)
    See also Working Paper Why are Foreign Firms Listed in the U.S. Worth More?, NBER Working Papers (2001) View citations (42) (2001)

2003

27. A New Approach to Measuring Financial Contagion
    The Review of Financial Studies, 2003, 16, (3), 717-763 View citations (660)
    See also Working Paper A new approach to measuring financial contagion, Proceedings (2001) View citations (3) (2001)
28. DaimlerChrysler AG, the first truly global share
    Journal of Corporate Finance, 2003, 9, (4), 409-430 View citations (18)
29. International Real Estate Returns: A Multifactor, Multicountry Approach
    Real Estate Economics, 2003, 31, (3), 481-500 View citations (53)
    See also Working Paper International Real Estate Returns: A Multifactor, Multicountry Approach, ERES (2003) View citations (43) (2003)

2002

30. A retrospective evaluation of the Pacific-Basin Finance Journal: 1993-2002
    Pacific-Basin Finance Journal, 2002, 10, (5), 497-516
31. Did the Asian financial crisis scare foreign investors out of Japan?
    Pacific-Basin Finance Journal, 2002, 10, (4), 411-442 View citations (90)

2000

32. Preface
    Pacific-Basin Finance Journal, 2000, 8, (2), vii-vii
33. The Long-Run Performance of Global Equity Offerings
    Journal of Financial and Quantitative Analysis, 2000, 35, (4), 499-528 View citations (84)

1998

34. Another look at the role of the industrial structure of markets for international diversification strategies
    Journal of Financial Economics, 1998, 50, (3), 351-373 View citations (195)
    See also Working Paper Another Look at the Role of the Industrial Structure of Markets for International Diversification Strategies, Research in Financial Economics View citations (18)
35. Multimarket trading and liquidity: a transaction data analysis of Canada-US interlistings
    Journal of International Financial Markets, Institutions and Money, 1998, 8, (3-4), 393-412 View citations (111)
36. SOURCING EQUITY INTERNATIONALLY WITH DEPOSITARY RECEIPT OFFERINGS: TWO EXCEPTIONS THAT PROVE THE RULE
    Journal of Applied Corporate Finance, 1998, 10, (4), 90-101 View citations (1)
37. The Variation of Economic Risk Premiums in Real Estate Returns
    The Journal of Real Estate Finance and Economics, 1998, 17, (3), 245-62 View citations (62)

1996

38. Why Do Markets Move Together? An Investigation of U.S.-Japan Stock Return Comovements
    Journal of Finance, 1996, 51, (3), 951-86 View citations (443)

1995

39. A Multivariate GARCH Model of International Transmissions of Stock Returns and Volatility: The Case of the United States and Canada
    Journal of Business & Economic Statistics, 1995, 13, (1), 11-25 View citations (264)
40. Good news, band news and international spilovers of stock return volatility between Japan and the U.S
    Pacific-Basin Finance Journal, 1995, 3, (1), 144-144 View citations (2)
    Also in Pacific-Basin Finance Journal, 1994, 2, (4), 405-438 (1994) View citations (94)

1993

41. A Bayesian Approach to Modeling Stock Return Volatility for Option Valuation
    Journal of Financial and Quantitative Analysis, 1993, 28, (4), 579-594 View citations (22)
42. International Listings of Stocks: The Case of Canada and the U.S
    Journal of International Business Studies, 1993, 24, (4), 763-784 View citations (87)

1992

43. An Empirical Comparison of Alternative Models of the Short-Term Interest Rate
    Journal of Finance, 1992, 47, (3), 1209-27 View citations (675)
44. Global financial markets and the risk premium on U.S. equity
    Journal of Financial Economics, 1992, 32, (2), 137-167 View citations (161)
    See also Working Paper Global Financial Markets and the Risk Premium on U.S. Equity, NBER Working Papers (1992) View citations (127) (1992)
45. Predicting Risk: Some New Generalizations
    Management Science, 1992, 38, (1), 57-74 View citations (21)

1991

46. Intraday Volatility in the Stock Index and Stock Index Futures Markets
    The Review of Financial Studies, 1991, 4, (4), 657-84 View citations (166)

Books

2015

1. Cracking the Emerging Markets Enigma
   OUP Catalogue, Oxford University Press View citations (35)

Edited books

2003

1. International Capital Markets, vol Three volume set
   Books, Edward Elgar Publishing View citations (6)

Chapters

2003

1. Are financial assets priced locally or globally?
   Chapter 16 in Handbook of the Economics of Finance, 2003, vol. 1, Part 2, pp 975-1020 View citations (245)
   See also Working Paper Are Financial Assets Priced Locally or Globally?, National Bureau of Economic Research, Inc (2002) View citations (142) (2002)