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Details about Roni Michaely

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Workplace:Geneva Finance Research Institute (GFRI), Université de Genève (University of Geneva), (more information at EDIRC)

Access statistics for papers by Roni Michaely.

Last updated 2020-08-31. Update your information in the RePEc Author Service.

Short-id: pmi132


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Working Papers

2020

  1. On the Fast Track: Information Acquisition Costs and Information Production
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads
    Also in Swiss Finance Institute Research Paper Series, Swiss Finance Institute (2020) Downloads
  2. Out of Balance: Do Analysts Issue Sell Recommendations to Manage their Recommendation Distributions?
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads
  3. Political Activism and Market Power
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads
  4. Propagation of Political Information
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads

2019

  1. Are U.S. Industries Becoming More Concentrated?
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads View citations (13)
    See also Journal Article in Review of Finance (2019)
  2. Consumption Taxes and Corporate Investment
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads View citations (1)
    See also Journal Article in Review of Financial Studies (2019)
  3. Cultural Diversity on Wall Street: Evidence from Sell-Side Analysts’ Forecasts
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads
  4. Do Index Funds Monitor?
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads View citations (2)
  5. FinTechs and the Market for Financial Analysis
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads View citations (3)
  6. Information Revelation Through Regulatory Process: Interactions Between the SEC and Companies Ahead of the IPO
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads
  7. Lured by the Consensus
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads
  8. Owners' Portfolio Diversification and Firm Investment: Theory and Evidence from Private and Public Firms
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads
  9. Signaling Safety
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2018) Downloads
  10. Sticking around Too Long? Dynamics of the Benefits of Dual-Class Voting
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads
  11. What Do Insiders Know? Evidence from Insider Trading Around Share Repurchases and SEOs
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads

2017

  1. The Information Content of Dividends: Safer Profits, Not Higher Profits
    CESifo Working Paper Series, CESifo Downloads

2015

  1. The Deleveraging of U.S. Firms and Institutional Investors’ Role
    MPRA Paper, University Library of Munich, Germany Downloads View citations (3)

2014

  1. Do Dividend Taxes Affect Corporate Investment?
    CESifo Working Paper Series, CESifo Downloads
    See also Chapter (2017)
    Journal Article in Journal of Public Economics (2017)

2004

  1. On the Importance of Measuring Payout Yield: Implications for Empirical Asset Pricing
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (13)
    See also Journal Article in Journal of Finance (2007)

2003

  1. Payout Policy in the 21st Century
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (102)
    See also Journal Article in Journal of Financial Economics (2005)

2002

  1. Payout Policy
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania Downloads View citations (56)
    See also Chapter (2003)
    Journal Article in Annual Review of Financial Economics (2014)

2001

  1. Dynamic Volume-Return Relation of Individual Stocks
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (8)
    See also Journal Article in Review of Financial Studies (2002)

1997

  1. Do Changes in Dividends Signal the Future or the Past?
    CRSP working papers, Center for Research in Security Prices, Graduate School of Business, University of Chicago View citations (192)
    Also in CRSP working papers, Center for Research in Security Prices, Graduate School of Business, University of Chicago

    See also Journal Article in Journal of Finance (1997)

1994

  1. Price Reactions to Dividend Initiations and Omissions: Overreaction or Drift?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    See also Journal Article in Journal of Finance (1995)

Undated

  1. Dividend Policy (Reprint 050)
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (2)

Journal Articles

2019

  1. Are US Industries Becoming More Concentrated?
    Review of Finance, 2019, 23, (4), 697-743 Downloads View citations (21)
    See also Working Paper (2019)
  2. Consumption Taxes and Corporate Investment
    Review of Financial Studies, 2019, 32, (8), 3144-3182 Downloads View citations (1)
    See also Working Paper (2019)
  3. Owners’ Portfolio Diversification and Firm Investment
    Review of Financial Studies, 2019, 32, (12), 4855-4904 Downloads

2018

  1. Trading in the Presence of Short-Lived Private Information: Evidence from Analyst Recommendation Changes
    Journal of Financial and Quantitative Analysis, 2018, 53, (4), 1509-1546 Downloads

2017

  1. Do dividend taxes affect corporate investment?
    Journal of Public Economics, 2017, 151, (C), 74-83 Downloads View citations (7)
    See also Working Paper (2014)
    Chapter (2017)
  2. Does the Scope of the Sell-Side Analyst Industry Matter? An Examination of Bias, Accuracy, and Information Content of Analyst Reports
    Journal of Finance, 2017, 72, (3), 1285-1334 Downloads View citations (8)
  3. Taxation and Dividend Policy: The Muting Effect of Agency Issues and Shareholder Conflicts
    Review of Financial Studies, 2017, 30, (9), 3176-3222 Downloads View citations (8)

2016

  1. Are Friday announcements special? Overcoming selection bias
    Journal of Financial Economics, 2016, 122, (1), 65-85 Downloads View citations (11)
  2. Further evidence on the strategic timing of earnings news: Joint analysis of weekdays and times of day
    Journal of Accounting and Economics, 2016, 62, (1), 24-45 Downloads View citations (6)

2014

  1. Corporate Governance and the Timing of Earnings Announcements
    Review of Finance, 2014, 18, (6), 2003-2044 Downloads View citations (10)
  2. Payout Policy
    Annual Review of Financial Economics, 2014, 6, (1), 75-134 Downloads View citations (8)
    See also Working Paper (2002)
    Chapter (2003)

2012

  1. Corporate Dividend Policies: Lessons from Private Firms
    Review of Financial Studies, 2012, 25, (3), 711-746 Downloads View citations (80)

2011

  1. Determinants of Dividend Smoothing: Empirical Evidence
    Review of Financial Studies, 2011, 24, (10), 3197-3249 Downloads View citations (69)

2009

  1. Evidence on the Trade‐Off between Risk and Return for IPO and SEO Firms
    Financial Management, 2009, 38, (2), 221-252 Downloads View citations (4)
  2. The Nominal Share Price Puzzle
    Journal of Economic Perspectives, 2009, 23, (2), 121-42 Downloads View citations (24)

2008

  1. Managerial Response to the May 2003 Dividend Tax Cut
    Financial Management, 2008, 37, (4), 611-624 Downloads View citations (25)
  2. The Effect of the May 2003 Dividend Tax Cut on Corporate Dividend Policy: Empirical and Survey Evidence
    National Tax Journal, 2008, 61, (3), 381-96 Downloads View citations (1)

2007

  1. On the Importance of Measuring Payout Yield: Implications for Empirical Asset Pricing
    Journal of Finance, 2007, 62, (2), 877-915 Downloads View citations (151)
    See also Working Paper (2004)

2005

  1. Dividend Changes Do Not Signal Changes in Future Profitability
    The Journal of Business, 2005, 78, (5), 1659-1682 Downloads View citations (67)
  2. Institutional Holdings and Payout Policy
    Journal of Finance, 2005, 60, (3), 1389-1426 Downloads View citations (152)
  3. Payout policy in the 21st century
    Journal of Financial Economics, 2005, 77, (3), 483-527 Downloads View citations (461)
    See also Working Paper (2003)
  4. Using Expectations to Test Asset Pricing Models
    Financial Management, 2005, 34, (3) View citations (51)

2004

  1. Risk or Mispricing? From the Mouths of Professionals
    Financial Management, 2004, 33, (3) View citations (5)

2003

  1. Do Price Discreteness and Transactions Costs Affect Stock Returns? Comparing Ex‐Dividend Pricing before and after Decimalization
    Journal of Finance, 2003, 58, (6), 2611-2636 Downloads View citations (49)

2002

  1. Are Dividend Changes a Sign of Firm Maturity?
    The Journal of Business, 2002, 75, (3), 387-424 Downloads View citations (216)
  2. Dynamic Volume-Return Relation of Individual Stocks
    Review of Financial Studies, 2002, 15, (4), 1005-1047 View citations (206)
    See also Working Paper (2001)

2000

  1. Dividends and Taxes: A Re-Examination
    Financial Management, 2000, 29, (2) View citations (12)
  2. Prices, Liquidity, and the Information Content of Trades
    Review of Financial Studies, 2000, 13, (3), 659-96 View citations (37)
  3. The Accuracy of Trade Classification Rules: Evidence from Nasdaq
    Journal of Financial and Quantitative Analysis, 2000, 35, (4), 529-551 Downloads View citations (143)
  4. When the Underwriter Is the Market Maker: An Examination of Trading in the IPO Aftermarket
    Journal of Finance, 2000, 55, (3), 1039-1074 Downloads View citations (123)

1999

  1. Conflict of Interest and the Credibility of Underwriter Analyst Recommendations
    Review of Financial Studies, 1999, 12, (4), 653-86 View citations (354)

1997

  1. Capital Adequacy, Bank Mergers, and the Medium of Payment
    Journal of Business Finance & Accounting, 1997, 24, (1), 97-124 Downloads
  2. Do Changes in Dividends Signal the Future or the Past?
    Journal of Finance, 1997, 52, (3), 1007-34 Downloads View citations (193)
    See also Working Paper (1997)
  3. Do Investors Ignore Dividend Taxation? A Reexamination of the Citizens Utilities Case
    Journal of Financial and Quantitative Analysis, 1997, 32, (1), 117-135 Downloads View citations (10)
  4. Fiscalità e mercato azionario: come interpretare lo stacco dei dividendi dei titoli italiani?
    Politica economica, 1997, (1), 117-152 Downloads

1996

  1. A Model of Trading Volume with Tax-Induced Heterogeneous Valuation and Transaction Costs
    Journal of Financial Intermediation, 1996, 5, (4), 340-371 Downloads View citations (19)
  2. Trading Volume with Private Valuation: Evidence from the Ex-dividend Day
    Review of Financial Studies, 1996, 9, (2), 471-509 Downloads View citations (53)

1995

  1. Does the Choice of Auditor Convey Quality in an Initial Public Offering?
    Financial Management, 1995, 24, (4) View citations (52)
  2. Investors' Heterogeneity, Prices, and Volume around the Ex-Dividend Day
    Journal of Financial and Quantitative Analysis, 1995, 30, (2), 171-198 Downloads View citations (42)
  3. Price Reactions to Dividend Initiations and Omissions: Overreaction or Drift?
    Journal of Finance, 1995, 50, (2), 573-608 Downloads View citations (235)
    See also Working Paper (1994)
  4. The Choice of Going Public: Spin-offs vs. Carve-outs
    Financial Management, 1995, 24, (3) View citations (15)
  5. The Effect of Tax Heterogeneity on Prices and Volume around the Ex-dividend Day: Evidence from the Milan Stock Exchange
    Review of Financial Studies, 1995, 8, (2), 369-99 Downloads View citations (31)

1994

  1. The Pricing of Initial Public Offerings: Tests of Adverse-Selection and Signaling Theories
    Review of Financial Studies, 1994, 7, (2), 279-319 Downloads View citations (156)

1991

  1. Ex-dividend Day Stock Price Behavior: The Case of the 1986 Tax Reform Act
    Journal of Finance, 1991, 46, (3), 845-59 Downloads View citations (37)

1990

  1. The Structure of Spot Rates and Immunization
    Journal of Finance, 1990, 45, (2), 629-42 Downloads View citations (20)

1988

  1. Information Quality and Market Efficiency
    Journal of Financial and Quantitative Analysis, 1988, 23, (1), 53-70 Downloads View citations (31)

Chapters

2017

  1. Do Dividend Taxes Affect Corporate Investment?
    A chapter in Personal Income Taxation and Household Behavior (TAPES), 2017 View citations (6)
    See also Journal Article in Journal of Public Economics (2017)
    Working Paper (2014)

2003

  1. Payout policy
    Chapter 07 in Handbook of the Economics of Finance, 2003, vol. 1, Part 1, pp 337-429 Downloads View citations (95)
    See also Journal Article in Annual Review of Financial Economics (2014)
    Working Paper (2002)
 
Page updated 2020-10-20