Details about Alexander Ljungqvist

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Workplace:	Department of Finance, Stockholm School of Economics, (more information at EDIRC) Institutet för Näringslivsforskning (IFN) (Research Institute of Industrial Economics), (more information at EDIRC)

Access statistics for papers by Alexander Ljungqvist.

Last updated 2022-07-25. Update your information in the RePEc Author Service.

Short-id: plj2

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Working Papers

2021

1. Quick or Broad Patents? Evidence from U.S. Startups
   CEPR Discussion Papers, C.E.P.R. Discussion Papers

2020

2. Do corporate disclosures constrain strategic analyst behavior?
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
3. Testing Disagreement Models
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
   See also Journal Article Testing Disagreement Models, Journal of Finance, American Finance Association (2022) View citations (10) (2022)
4. Value Creation in Private Equity
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)
5. When does board diversity benefit shareholders? Strategic deadlock as a commitment to monitor
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)

2018

6. Activism, Strategic Trading, and Liquidity
   Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (22)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (1)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) View citations (4)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) View citations (3)
   See also Journal Article Activism, Strategic Trading, and Liquidity, Econometrica, Econometric Society (2018) View citations (21) (2018)
7. The Incredible Shrinking Stock Market: On the Political Economy Consequences of Excessive Delistings
   Working Paper Series, Research Institute of Industrial Economics View citations (2)

2017

8. Busy Directors: Strategic Interaction and Monitoring Synergies
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (2)
9. What is a Patent Worth? Evidence from the U.S. Patent “Lottery”
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
   See also Journal Article What Is a Patent Worth? Evidence from the U.S. Patent “Lottery”, Journal of Finance, American Finance Association (2020) View citations (51) (2020)

2016

10. Private Equity's Unintended Dark Side: On the Economic Consequences of Excessive Delistings
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2016) View citations (1)
11. The Bright Side of Patents
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (13)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (13)
12. To Cut or Not to Cut? On the Impact of Corporate Taxes on Employment and Income
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (3)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (33)

2015

13. Do Measures of Financial Constraints Measure Financial Constraints?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (21)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2013) View citations (38)
    See also Journal Article Do Measures of Financial Constraints Measure Financial Constraints?, The Review of Financial Studies, Society for Financial Studies (2016) View citations (252) (2016)
14. Sharing Risk with the Government: How Taxes Affect Corporate Risk Taking
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    See also Journal Article Sharing Risk with the Government: How Taxes Affect Corporate Risk Taking, Journal of Accounting Research, Wiley Blackwell (2017) View citations (48) (2017)
15. State Capitalism vs. Private Enterprise
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (22)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2015) View citations (22)

2014

16. How Constraining Are Limits to Arbitrage? Evidence from a Recent Financial Innovation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)

2013

17. Liquidity and Governance
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2013) View citations (4)
18. Shaping Liquidity: On the Causal Effects of Voluntary Disclosure
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    See also Journal Article Shaping Liquidity: On the Causal Effects of Voluntary Disclosure, Journal of Finance, American Finance Association (2014) View citations (170) (2014)

2012

19. As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from Exogenous State Tax Changes
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)

2011

20. Comparing the Investment Behavior of Public and Private Firms
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (54)

2010

21. Does the Stock Market Harm Investment Incentives?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (7)
22. Monitoring Managers: Does it Matter?
    Working Papers, Fondazione Eni Enrico Mattei View citations (4)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2009) View citations (4)
    Institutions and Markets Papers, Fondazione Eni Enrico Mattei (FEEM) (2010) View citations (10)
    See also Journal Article Monitoring Managers: Does It Matter?, Journal of Finance, American Finance Association (2013) View citations (67) (2013)

2009

23. Testing Asymmetric-Information Asset Pricing Models
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
    See also Journal Article Testing Asymmetric-Information Asset Pricing Models, The Review of Financial Studies, Society for Financial Studies (2012) View citations (204) (2012)

2008

24. The Investment Behavior of Buyout Funds: Theory and Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (31)
    See also Journal Article The investment behavior of buyout funds: Theory and evidence, Financial Management, Financial Management Association International (2020) View citations (6) (2020)

2005

25. Conflicts of Interest in Sell-Side Research and the Moderating Role of Institutional Investors
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (6)
    See also Journal Article Conflicts of interest in sell-side research and the moderating role of institutional investors, Journal of Financial Economics, Elsevier (2007) View citations (95) (2007)

2004

26. Investor Sentiment and Pre-Issue Markets
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
27. On the decision to go public: Evidence from privately-held firms
    Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank View citations (26)

2003

28. Competing for Securities Underwriting Mandates: Banking Relationships and Analyst Recommendations
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
    See also Journal Article Competing for Securities Underwriting Mandates: Banking Relationships and Analyst Recommendations, Journal of Finance, American Finance Association (2006) View citations (144) (2006)
29. Conflicts of Interest and Efficient Contracting in IPOs
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (6)
30. The cash flow, return and risk characteristics of private equity
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (115)

2002

31. An Analysis of Shareholder Agreements
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (12)
    See also Journal Article An Analysis of Shareholder Agreements, Journal of the European Economic Association, MIT Press (2007) View citations (29) (2007)
32. Evidence of Information Spillovers in the Production of Investment Banking Services
    OFRC Working Papers Series, Oxford Financial Research Centre View citations (6)
    Also in Economics Series Working Papers, University of Oxford, Department of Economics (2002) View citations (5)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2001) View citations (12)
    See also Journal Article Evidence of Information Spillovers in the Production of Investment Banking Services, Journal of Finance, American Finance Association (2003) View citations (106) (2003)
33. IPO Pricing in the Dot-com Bubble
    OFRC Working Papers Series, Oxford Financial Research Centre View citations (11)
    Also in Economics Series Working Papers, University of Oxford, Department of Economics (2002) View citations (2)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) View citations (4)
    See also Journal Article IPO Pricing in the Dot‐com Bubble, Journal of Finance, American Finance Association (2003) View citations (215) (2003)

2001

34. Global Integration in Primary Equity Markets: The Role of U.S. Banks and U.S. Investors
    Economics Series Working Papers, University of Oxford, Department of Economics View citations (3)
    Also in OFRC Working Papers Series, Oxford Financial Research Centre (2001) View citations (8)
    See also Journal Article Global Integration in Primary Equity Markets: The Role of U.S. Banks and U.S. Investors, The Review of Financial Studies, Society for Financial Studies (2003) View citations (98) (2003)
35. Hot Markets, Investor Sentiment and IPO Pricing
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (31)
    See also Journal Article Hot Markets, Investor Sentiment, and IPO Pricing, The Journal of Business, University of Chicago Press (2006) View citations (181) (2006)
36. IPO Allocations: Discriminatory or Discretionary?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (8)
    Also in Economics Series Working Papers, University of Oxford, Department of Economics (2001) View citations (8)
    OFRC Working Papers Series, Oxford Financial Research Centre (2001) View citations (8)
    See also Journal Article IPO allocations: discriminatory or discretionary?, Journal of Financial Economics, Elsevier (2002) View citations (109) (2002)
37. The Seven Percent Solution? An International Perspective On Underwriting Spreads
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
    Also in OFRC Working Papers Series, Oxford Financial Research Centre (1999) View citations (5)
    Economics Series Working Papers, University of Oxford, Department of Economics (1999) View citations (4)

2000

38. Firm Value and Managerial Incentives: A Stochastic Frontier Approach
    OFRC Working Papers Series, Oxford Financial Research Centre View citations (2)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2000) View citations (3)
    Economics Series Working Papers, University of Oxford, Department of Economics (2000) View citations (2)
    See also Journal Article Firm Value and Managerial Incentives: A Stochastic Frontier Approach, The Journal of Business, University of Chicago Press (2005) View citations (84) (2005)
39. Has the Introduction of Bookbuilding Increased the Efficiency of International IPOs?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (8)
    Also in Economics Series Working Papers, University of Oxford, Department of Economics (2000) View citations (8)
    OFRC Working Papers Series, Oxford Financial Research Centre (2000) View citations (7)

1999

40. IPO Underpricing, Wealth Losses and the Curious Role of Venture Capitalists in the Creation of Public Companies
    Economics Series Working Papers, University of Oxford, Department of Economics View citations (15)
    Also in OFRC Working Papers Series, Oxford Financial Research Centre (1999) View citations (14)
41. The Role of Hostile Stakes in German Corporate Governance
    Economics Series Working Papers, University of Oxford, Department of Economics
    Also in OFRC Working Papers Series, Oxford Financial Research Centre (1999) View citations (1)
    See also Journal Article The role of hostile stakes in German corporate governance, Journal of Corporate Finance, Elsevier (2001) View citations (45) (2001)
42. Underpricing and Entrepreneurial Wealth Losses in IPOs: Theory and Evidence
    Economics Series Working Papers, University of Oxford, Department of Economics View citations (1)
    Also in OFRC Working Papers Series, Oxford Financial Research Centre (1999) View citations (4)
    See also Journal Article Underpricing and Entrepreneurial Wealth Losses in IPOs: Theory and Evidence, The Review of Financial Studies, Society for Financial Studies (2001) View citations (219) (2001)

1998

43. Headline Underpricing and Entrepreneurial Wealth Losses in IPOs: Theory and Evidence
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)

1997

44. Hostile Stakes and the Role of Banks in German Corporate Governance
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)

Journal Articles

2022

1. Testing Disagreement Models
   Journal of Finance, 2022, 77, (4), 2239-2285 View citations (10)
   See also Working Paper Testing Disagreement Models, CEPR Discussion Papers (2020) (2020)

2020

2. The investment behavior of buyout funds: Theory and evidence
   Financial Management, 2020, 49, (1), 3-32 View citations (6)
   See also Working Paper The Investment Behavior of Buyout Funds: Theory and Evidence, NBER Working Papers (2008) View citations (31) (2008)
3. What Is a Patent Worth? Evidence from the U.S. Patent “Lottery”
   Journal of Finance, 2020, 75, (2), 639-682 View citations (51)
   See also Working Paper What is a Patent Worth? Evidence from the U.S. Patent “Lottery”, NBER Working Papers (2017) View citations (11) (2017)

2018

4. Activism, Strategic Trading, and Liquidity
   Econometrica, 2018, 86, (4), 1431-1463 View citations (21)
   See also Working Paper Activism, Strategic Trading, and Liquidity, Swiss Finance Institute Research Paper Series (2018) View citations (22) (2018)

2017

5. Sharing Risk with the Government: How Taxes Affect Corporate Risk Taking
   Journal of Accounting Research, 2017, 55, (3), 669-707 View citations (48)
   See also Working Paper Sharing Risk with the Government: How Taxes Affect Corporate Risk Taking, NBER Working Papers (2015) View citations (7) (2015)

2016

6. Do Measures of Financial Constraints Measure Financial Constraints?
   The Review of Financial Studies, 2016, 29, (2), 271-308 View citations (252)
   See also Working Paper Do Measures of Financial Constraints Measure Financial Constraints?, CEPR Discussion Papers (2015) View citations (21) (2015)
7. How Constraining Are Limits to Arbitrage?
   The Review of Financial Studies, 2016, 29, (8), 1975-2028 View citations (40)

2015

8. As certain as debt and taxes: Estimating the tax sensitivity of leverage from state tax changes
   Journal of Financial Economics, 2015, 118, (3), 684-712 View citations (176)
   See also Chapter As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from State Tax Changes, NBER Chapters, 2013 (2013) View citations (3) (2013)
9. Corporate Investment and Stock Market Listing: A Puzzle?
   The Review of Financial Studies, 2015, 28, (2), 342-390 View citations (215)

2014

10. Informational Holdup and Performance Persistence in Venture Capital
    The Review of Financial Studies, 2014, 27, (1), 102-152 View citations (42)
11. Shaping Liquidity: On the Causal Effects of Voluntary Disclosure
    Journal of Finance, 2014, 69, (5), 2237-2278 View citations (170)
    See also Working Paper Shaping Liquidity: On the Causal Effects of Voluntary Disclosure, NBER Working Papers (2013) View citations (8) (2013)

2013

12. Monitoring Managers: Does It Matter?
    Journal of Finance, 2013, 68, (2), 431-481 View citations (67)
    See also Working Paper Monitoring Managers: Does it Matter?, Working Papers (2010) View citations (4) (2010)

2012

13. Testing Asymmetric-Information Asset Pricing Models
    The Review of Financial Studies, 2012, 25, (5), 1366-1413 View citations (204)
    See also Working Paper Testing Asymmetric-Information Asset Pricing Models, CEPR Discussion Papers (2009) View citations (3) (2009)

2010

14. Competition and the Structure of Vertical Relationships in Capital Markets
    Journal of Political Economy, 2010, 118, (3), 599-647 View citations (53)
15. Networking as a Barrier to Entry and the Competitive Supply of Venture Capital
    Journal of Finance, 2010, 65, (3), 829-859 View citations (130)

2009

16. Rewriting History
    Journal of Finance, 2009, 64, (4), 1935-1960 View citations (38)
17. Scaling the Hierarchy: How and Why Investment Banks Compete for Syndicate Co-management Appointments
    The Review of Financial Studies, 2009, 22, (10), 3977-4007 View citations (40)

2007

18. An Analysis of Shareholder Agreements
    Journal of the European Economic Association, 2007, 5, (1), 93-121 View citations (29)
    See also Working Paper An Analysis of Shareholder Agreements, CEPR Discussion Papers (2002) View citations (12) (2002)
19. Conflicts of interest in sell-side research and the moderating role of institutional investors
    Journal of Financial Economics, 2007, 85, (2), 420-456 View citations (95)
    See also Working Paper Conflicts of Interest in Sell-Side Research and the Moderating Role of Institutional Investors, CEPR Discussion Papers (2005) View citations (6) (2005)
20. Whom You Know Matters: Venture Capital Networks and Investment Performance
    Journal of Finance, 2007, 62, (1), 251-301 View citations (603)

2006

21. Competing for Securities Underwriting Mandates: Banking Relationships and Analyst Recommendations
    Journal of Finance, 2006, 61, (1), 301-340 View citations (144)
    See also Working Paper Competing for Securities Underwriting Mandates: Banking Relationships and Analyst Recommendations, CEPR Discussion Papers (2003) View citations (5) (2003)
22. Hot Markets, Investor Sentiment, and IPO Pricing
    The Journal of Business, 2006, 79, (4), 1667-1702 View citations (181)
    See also Working Paper Hot Markets, Investor Sentiment and IPO Pricing, CEPR Discussion Papers (2001) View citations (31) (2001)
23. Investor Sentiment and Pre‐IPO Markets
    Journal of Finance, 2006, 61, (3), 1187-1216 View citations (105)

2005

24. Does Prospect Theory Explain IPO Market Behavior?
    Journal of Finance, 2005, 60, (4), 1759-1790 View citations (66)
25. Firm Value and Managerial Incentives: A Stochastic Frontier Approach
    The Journal of Business, 2005, 78, (6), 2053-2094 View citations (84)
    See also Working Paper Firm Value and Managerial Incentives: A Stochastic Frontier Approach, OFRC Working Papers Series (2000) View citations (2) (2000)

2003

26. Evidence of Information Spillovers in the Production of Investment Banking Services
    Journal of Finance, 2003, 58, (2), 577-608 View citations (106)
    See also Working Paper Evidence of Information Spillovers in the Production of Investment Banking Services, OFRC Working Papers Series (2002) View citations (6) (2002)
27. Global Integration in Primary Equity Markets: The Role of U.S. Banks and U.S. Investors
    The Review of Financial Studies, 2003, 16, (1), 63-99 View citations (98)
    See also Working Paper Global Integration in Primary Equity Markets: The Role of U.S. Banks and U.S. Investors, Economics Series Working Papers (2001) View citations (3) (2001)
28. IPO Pricing in the Dot‐com Bubble
    Journal of Finance, 2003, 58, (2), 723-752 View citations (215)
    See also Working Paper IPO Pricing in the Dot-com Bubble, OFRC Working Papers Series (2002) View citations (11) (2002)

2002

29. IPO allocations: discriminatory or discretionary?
    Journal of Financial Economics, 2002, 65, (2), 167-201 View citations (109)
    See also Working Paper IPO Allocations: Discriminatory or Discretionary?, CEPR Discussion Papers (2001) View citations (8) (2001)

2001

30. The role of hostile stakes in German corporate governance
    Journal of Corporate Finance, 2001, 7, (4), 397-446 View citations (45)
    See also Working Paper The Role of Hostile Stakes in German Corporate Governance, Economics Series Working Papers (1999) (1999)
31. Underpricing and Entrepreneurial Wealth Losses in IPOs: Theory and Evidence
    The Review of Financial Studies, 2001, 14, (2), 433-58 View citations (219)
    See also Working Paper Underpricing and Entrepreneurial Wealth Losses in IPOs: Theory and Evidence, Economics Series Working Papers (1999) View citations (1) (1999)

1998

32. Underpricing and IPO proceeds: a note
    Economics Letters, 1998, 61, (3), 381-383 View citations (17)

1997

33. Pricing initial public offerings: Further evidence from Germany
    European Economic Review, 1997, 41, (7), 1309-1320 View citations (87)

Books

2001

1. Going Public: The Theory and Evidence on How Companies Raise Equity Finance
   OUP Catalogue, Oxford University Press View citations (143)

Chapters

2013

1. As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from State Tax Changes
   A chapter in New Perspectives on Corporate Capital Structure, 2013 View citations (3)
   See also Journal Article As certain as debt and taxes: Estimating the tax sensitivity of leverage from state tax changes, Elsevier (2015) View citations (176) (2015)