Andrew Ellul

Indiana University - Kelley School of Business - Department of Finance

1309 E. 10th St.

Bloomington, IN 47405

United States

Centre for Economic Policy Research (CEPR)

London

United Kingdom

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

University of Naples Federico II - CSEF - Center for Studies in Economics and Finance

Via Cintia

Complesso Monte S. Angelo

Naples, Naples 80126

Italy

SCHOLARLY PAPERS

24

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15,362

SSRN CITATIONS
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Top 793

in Total Papers Citations

661

CROSSREF CITATIONS

698

Scholarly Papers (24)

The Role of Risk Management in Corporate Governance

Kelley School of Business Research Paper No. 15-81
Number of pages: 38 Posted: 10 Nov 2015
Andrew Ellul
Indiana University - Kelley School of Business - Department of Finance
Downloads 2,435 (6,554)
Citation 4

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banking, risk management, risk taking, corporate governance, ownership structure, board expertise, executive compensation

The Role of Risk Management in Corporate Governance

Annual Review of Financial Economics, Vol. 7, pp. 279-299, 2015
Posted: 11 Dec 2015
Andrew Ellul
Indiana University - Kelley School of Business - Department of Finance

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Stronger Risk Controls, Lower Risk: Evidence from U.S. Bank Holding Companies

Journal of Finance, Forthcoming
Number of pages: 70 Posted: 10 Feb 2010 Last Revised: 12 May 2014
Andrew Ellul and Vijay Yerramilli
Indiana University - Kelley School of Business - Department of Finance and University of Houston, C. T. Bauer College of Business
Downloads 1,448 (15,137)
Citation 65

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Risk Management, Tail Risk, Banks, Financial Crisis

Stronger Risk Controls, Lower Risk: Evidence from U.S. Bank Holding Companies

NBER Working Paper No. w16178
Number of pages: 58 Posted: 12 Jul 2010 Last Revised: 17 Mar 2021
Andrew Ellul and Vijay Yerramilli
Indiana University - Kelley School of Business - Department of Finance and University of Houston, C. T. Bauer College of Business
Downloads 95 (327,880)

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Regulatory Pressure and Fire Sales in the Corporate Bond Market

AFA 2011 Denver Meetings Paper
Number of pages: 55 Posted: 19 Mar 2009 Last Revised: 12 May 2014
Indiana University - Kelley School of Business - Department of Finance, Southern Methodist University (SMU) - Finance Department and University of North Carolina Kenan-Flagler Business School
Downloads 824 (34,762)
Citation 13

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Fire sales, Regulation, Price pressure, Liquidity, Corporate bonds, Insurance companies

Regulatory Pressure and Fire Sales in the Corporate Bond Market

Journal of Financial Economics (JFE), Vol. 101, No. 3, 2011
Number of pages: 54 Posted: 22 Mar 2009 Last Revised: 12 May 2014
Indiana University - Kelley School of Business - Department of Finance, Southern Methodist University (SMU) - Finance Department and University of North Carolina Kenan-Flagler Business School
Downloads 475 (71,505)
Citation 122

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Fire sales, Regulation, Price pressure, Liquidity, Corporate bonds, Insurance companies

Is Historical Cost Accounting a Panacea? Market Stress, Incentive Distortions, and Gains Trading

Journal of Finance, Forthcoming
Number of pages: 108 Posted: 14 Dec 2011 Last Revised: 15 Jun 2016
Indiana University - Kelley School of Business - Department of Finance, Southern Methodist University (SMU) - Finance Department, University of North Carolina Kenan-Flagler Business School and Fordham University
Downloads 859 (32,843)
Citation 5

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Regulation, Mark to market, Historical cost accounting, Gains trading, Fire sales, Asset-backed securities (ABS), Corporate bonds, Insurance companies

Is Historical Cost Accounting a Panacea? Market Stress, Incentive Distortions, and Gains Trading

Journal of Finance, Forthcoming, Kelley School of Business Research Paper No. 2014-40
Number of pages: 108 Posted: 23 Jan 2012 Last Revised: 15 Apr 2015
Indiana University - Kelley School of Business - Department of Finance, Southern Methodist University (SMU) - Finance Department, University of North Carolina Kenan-Flagler Business School and Fordham University
Downloads 171 (209,368)
Citation 9

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Regulation, Mark to market, Historical cost accounting, Gains trading, Fire sales, Asset-backed securities (ABS), Corporate bonds, Insurance companies

Is Historical Cost Accounting a Panacea? Market Stress, Incentive Distortions, and Gains Trading

CEPR Discussion Paper No. DP10450
Number of pages: 59 Posted: 02 Mar 2015
Indiana University - Kelley School of Business - Department of Finance, Southern Methodist University (SMU) - Finance Department, University of North Carolina Kenan-Flagler Business School and Fordham University
Downloads 0
Citation 23
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asset-backed securities (ABS), corporate bonds, fire sales, gains trading, historical cost accounting, insurance companies, mark to market, regulation

Do Financial Analysts Restrain Insiders' Informational Advantage?

Number of pages: 68 Posted: 17 May 2008 Last Revised: 25 Jan 2016
Andrew Ellul and Marios A. Panayides
Indiana University - Kelley School of Business - Department of Finance and University of Cyprus - Department of Accounting and Finance
Downloads 399 (88,056)
Citation 7

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Sell-side Research, Insiders, Insider Trading, Information Asymmetries, Liquidity

Do Financial Analysts Restrain Insiders' Informational Advantage?

EFA 2009 Bergen Meetings Paper
Number of pages: 70 Posted: 19 Feb 2009 Last Revised: 12 May 2014
Marios A. Panayides and Andrew Ellul
University of Cyprus - Department of Accounting and Finance and Indiana University - Kelley School of Business - Department of Finance
Downloads 214 (170,585)
Citation 4

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Sell-side research, Insiders, Insider Trading, Information Asymmetries, Liquidity

Do Financial Analysts Restrain Insiders' Informational Advantage?

Number of pages: 70 Posted: 21 Mar 2009 Last Revised: 12 May 2014
Marios A. Panayides and Andrew Ellul
University of Cyprus - Department of Accounting and Finance and Indiana University - Kelley School of Business - Department of Finance
Downloads 178 (202,081)
Citation 4

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Sell-side research, Insiders, Insider Trading, Information Asymmetries, Liquidity

6.

Order Dynamics: Recent Evidence from the NYSE

Journal of Empirical Finance, Vol. 14, No. 636-661, 2007
Number of pages: 40 Posted: 07 Aug 2003 Last Revised: 02 Sep 2017
Indiana University - Kelley School of Business - Department of Finance, University of Memphis - Fogelman College of Business and Economics, Indiana University - Kelley School of Business - Department of Finance and Indiana University - Kelley School of Business - Department of Finance
Downloads 717 (42,670)
Citation 17

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Order choice, limit order, market order, automatic execution

7.
Downloads 690 ( 44,948)
Citation 137

Inheritance Law and Investment in Family Firms

3rd Annual Conference on Empirical Legal Studies Papers, ECGI - Finance Working Paper No. 222/2008
Number of pages: 64 Posted: 16 Apr 2008 Last Revised: 12 May 2014
Andrew Ellul, Marco Pagano and Fausto Panunzi
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Bocconi University - Department of Economics
Downloads 500 (67,057)
Citation 44

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succession, family firms, inheritance law, growth, investment

Inheritance Law and Investment in Family Firms

FEEM Working Paper No. 6.2009, EFA 2009 Bergen Meetings Paper
Number of pages: 64 Posted: 31 Jan 2009 Last Revised: 12 May 2014
Andrew Ellul, Marco Pagano and Fausto Panunzi
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Bocconi University - Department of Economics
Downloads 188 (192,527)
Citation 62

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Succession, Family Firms, Inheritance Law, Growth, Investment

Inheritance Law and Investment in Family Firms

CEPR Discussion Paper No. DP6977
Number of pages: 62 Posted: 02 Dec 2008
Andrew Ellul, Marco Pagano and Fausto Panunzi
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Bocconi University - Department of Economics
Downloads 2 (784,147)
Citation 8
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Family firms, Inheritance law, Investor protection

8.
Downloads 680 ( 45,833)
Citation 18

Insurers As Asset Managers and Systemic Risk

Kelley School of Business Research Paper No. 18-4, SMU Cox School of Business Research Paper No. 18-18
Number of pages: 71 Posted: 08 Jan 2018 Last Revised: 23 Jun 2020
Indiana University - Kelley School of Business - Department of Finance, Southern Methodist University (SMU) - Finance Department, University of St. Gallen - I.VW-HSG, University of North Carolina Kenan-Flagler Business School and Erasmus University Rotterdam (EUR)
Downloads 658 (47,287)
Citation 19

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Systemic risk, Financial stability, Inter-connectedness, Financial intermediaries, Insurance companies

Insurers as Asset Managers and Systemic Risk

ESRB: Working Paper Series No. 2018/75
Number of pages: 59 Posted: 05 Nov 2020
Indiana University - Kelley School of Business - Department of Finance, Southern Methodist University (SMU) - Finance Department, affiliation not provided to SSRN, affiliation not provided to SSRN and Erasmus University Rotterdam (EUR)
Downloads 20 (634,752)

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financial stability, insurance companies, inter-connectedness, systemic risk

Insurers as Asset Managers and Systemic Risk

CEPR Discussion Paper No. DP12849
Number of pages: 61 Posted: 12 Apr 2018
Southern Methodist University (SMU) - Finance Department, Indiana University - Kelley School of Business - Department of Finance, University of St. Gallen - I.VW-HSG, University of North Carolina Kenan-Flagler Business School and Erasmus University Rotterdam (EUR)
Downloads 2 (784,147)
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Insurance companies., Inter-connectedness, Systemic risk; Financial stability

9.

Blockholders, Debt Agency Costs and Legal Protection

FRB International Finance Discussion Paper No. 908
Number of pages: 51 Posted: 22 Mar 2005 Last Revised: 12 May 2014
Andrew Ellul, Levent Guntay and Ugur Lel
Indiana University - Kelley School of Business - Department of Finance, Federal Deposit Insurance Corporation (FDIC) and University of Georgia - Department of Banking and Finance
Downloads 678 (46,038)
Citation 4

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ownership structure, family firms, agency costs, corporate governance

10.

How to Open and Close the Market: Lessons from the London Stock Exchange

EFA 2002 Berlin Meetings Presented Paper
Number of pages: 58 Posted: 12 May 2002
Andrew Ellul, Hyun Song Shin and Ian Tonks
Indiana University - Kelley School of Business - Department of Finance, Bank for International Settlements (BIS) and University of Bristol
Downloads 677 (46,134)
Citation 3

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Call markets; Dealership markets; Opening and Closing Markets; International

11.

Control Motivations and Capital Structure Decision

Number of pages: 61 Posted: 22 Mar 2008
Andrew Ellul
Indiana University - Kelley School of Business - Department of Finance
Downloads 666 (47,166)
Citation 12

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Ownership Structure, Corporate Control, Capital Structure, Family Firms, International Finance

12.
Downloads 578 ( 56,610)
Citation 1

Access to Public Capital Markets and Employment Growth

Number of pages: 74 Posted: 20 Nov 2012 Last Revised: 07 Jul 2020
Alexander Borisov, Andrew Ellul and Merih Sevilir
University of Cincinnati - Department of Finance - Real Estate, Indiana University - Kelley School of Business - Department of Finance and Indiana University - Kelley School of Business - Department of Finance
Downloads 578 (55,955)
Citation 1

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Keywords: Employment growth, Human capital, IPOs, Financial constraints, M&As

Access to Public Capital Markets and Employment Growth

CEPR Discussion Paper No. DP10521
Number of pages: 65 Posted: 09 Apr 2015
Alexander Borisov, Andrew Ellul and Merih Sevilir
University of Cincinnati - Department of Finance - Real Estate, Indiana University - Kelley School of Business - Department of Finance and Indiana University - Kelley School of Business - Department of Finance
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Corporate growth, Employment growth, Financial constraints, Human capital, IPOs

13.

Mark-to-Market Accounting and Systemic Risk: Evidence from the Insurance Industry

Fordham University Schools of Business Research Paper
Number of pages: 59 Posted: 18 May 2013 Last Revised: 12 May 2014
Indiana University - Kelley School of Business - Department of Finance, Southern Methodist University (SMU) - Finance Department, University of North Carolina Kenan-Flagler Business School and Fordham University
Downloads 521 (64,375)
Citation 9

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Regulation, Systemic risk, Mark to market, Historical cost accounting, Fire sales, Capital ratios, Insurance companies

14.
Downloads 463 ( 74,532)
Citation 6

Labor Unemployment Risk and CEO Incentive Compensation

Kelley School of Business Research Paper No. 15-43
Number of pages: 61 Posted: 14 May 2015 Last Revised: 09 Nov 2017
Andrew Ellul, Cong Wang and Kuo Zhang
Indiana University - Kelley School of Business - Department of Finance, The Chinese University of Hong Kong, Shenzhen and Shanghai Jiao Tong University (SJTU) - Antai College of Economics and Management
Downloads 462 (74,000)
Citation 7

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Unemployment risk, Human capital, Executive compensation, Risk taking, Leverage

Labor Unemployment Risk and CEO Incentive Compensation

CEPR Discussion Paper No. DP11634
Number of pages: 58 Posted: 22 Nov 2016
Andrew Ellul, Cong Wang and Kuo Zhang
Indiana University - Kelley School of Business - Department of Finance, The Chinese University of Hong Kong, Shenzhen and Shanghai Jiao Tong University (SJTU) - Antai College of Economics and Management
Downloads 1 (798,118)
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Executive compensation, Human Capital, leverage, Risk Taking, unemployment risk

15.

Reputation Effects in Trading on the New York Stock Exchange

AFA 2006 Boston Meetings Paper
Number of pages: 45 Posted: 17 Mar 2005
Indiana University - Kelley School of Business - Department of Finance, University of Notre Dame - Department of Finance and Indiana University - Kelley School of Business - Department of Finance
Downloads 438 (79,633)
Citation 6

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reputation, relationships

Investors' Horizons and the Amplification of Market Shocks

Review of Financial Studies, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 298/2010
Number of pages: 70 Posted: 21 Apr 2012 Last Revised: 30 Oct 2018
Stockholm School of Economics, Indiana University - Kelley School of Business - Department of Finance and Stockholm School of Economics
Downloads 417 (83,619)
Citation 33

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fire sales, institutional investors, investor horizon, market crashes, financial crisis

Investors' Horizons and the Amplification of Market Shocks

CEPR Discussion Paper No. DP8083
Number of pages: 57 Posted: 29 Nov 2010
Stockholm School of Economics, Indiana University - Kelley School of Business - Department of Finance and Stockholm School of Economics
Downloads 7 (737,970)
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financial crisis, fire sales, institutional investors, investor horizon, market crashes

17.
Downloads 410 ( 86,035)
Citation 4

Transparency, Tax Pressure and Access to Finance

AFA 2012 Chicago Meetings Paper, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 332/2012
Number of pages: 67 Posted: 18 Mar 2011 Last Revised: 20 Nov 2018
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics, University of Naples Federico II - Department of Economics and Statistics and Bocconi University - Department of Economics
Downloads 409 (85,522)
Citation 8

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transparency, tax pressure, investment, access to finance

Transparency, Tax Pressure and Access to Finance

CEPR Discussion Paper No. DP8939
Number of pages: 64 Posted: 25 May 2012
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics, University of Naples Federico II - Department of Economics and Statistics and Bocconi University - Department of Economics
Downloads 1 (798,118)
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access to finance, tax pressure, Transparency

Employment and Wage Insurance within Firms: Worldwide Evidence

Kelley School of Business Research Paper No. 2014-23, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 517/2017
Number of pages: 73 Posted: 23 Jul 2014 Last Revised: 09 Nov 2017
Andrew Ellul, Marco Pagano and Fabiano Schivardi
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Luiss Guido Carli - Department of Economics and Finance
Downloads 219 (166,854)
Citation 14

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risk-sharing, insurance, social security, unemployment, wages, family firms

Employment and Wage Insurance within Firms: Worldwide Evidence

Kelley School of Business Research Paper No. 15-69, CFS Working Paper No. 517
Number of pages: 67 Posted: 22 Sep 2015 Last Revised: 17 Sep 2017
Andrew Ellul, Marco Pagano and Fabiano Schivardi
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Luiss Guido Carli - Department of Economics and Finance
Downloads 184 (196,243)
Citation 2

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risk-sharing, insurance, social security, unemployment, wages, family firms

Employment and Wage Insurance within Firms: Worldwide Evidence

CEPR Discussion Paper No. DP10711
Number of pages: 61 Posted: 13 Jul 2015
Andrew Ellul, Marco Pagano and Fabiano Schivardi
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Luiss Guido Carli - Department of Economics and Finance
Downloads 0
Citation 7
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family firms, insurance, risk-sharing, social security, unemployment, wages

19.
Downloads 319 (114,278)
Citation 6

Career Risk and Market Discipline in Asset Management

Kelley School of Business Research Paper No. 17-78, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 558/2018
Number of pages: 90 Posted: 21 Nov 2017 Last Revised: 15 Mar 2019
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and CSEF
Downloads 264 (138,868)

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Careers, hedge funds, asset managers, market discipline, scarring effects

Career Risk and Market Discipline in Asset Management

CFS Working Paper, No. 602, 2018
Number of pages: 84 Posted: 19 Nov 2018 Last Revised: 04 Mar 2019
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and CSEF
Downloads 54 (450,594)

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careers, hedge funds, asset managers, market discipline, scarring effects

Career Risk and Market Discipline in Asset Management

CEPR Discussion Paper No. DP12851
Number of pages: 63 Posted: 12 Apr 2018
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and CSEF
Downloads 1 (798,118)
Citation 6
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asset managers, careers, Hedge Funds, market discipline, scarring effects

20.

Corporate Leverage and Employees’ Rights in Bankruptcy

Kelley School of Business Research Paper No. 17-33
Number of pages: 72 Posted: 18 Apr 2017 Last Revised: 29 Mar 2019
Andrew Ellul and Marco Pagano
Indiana University - Kelley School of Business - Department of Finance and University of Naples Federico II - Department of Economics and Statistics
Downloads 239 (153,833)
Citation 8

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workers’ rights, bankruptcy, seniority, leverage, wage bargaining

21.
Downloads 182 (198,214)
Citation 6

Careers in Finance

Number of pages: 39 Posted: 01 Jun 2020
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and CSEF
Downloads 182 (198,171)
Citation 6

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Careers in Finance

CEPR Discussion Paper No. DP14767
Number of pages: 42 Posted: 20 May 2020
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and CSEF
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asset managers, careers, Hedge Funds, market discipline, scarring effects

22.

Ripples Through Markets: Inter-Market Impacts Generated by Large Trades

Indiana University Working Paper
Number of pages: 33 Posted: 02 Mar 2005
Andrew Ellul
Indiana University - Kelley School of Business - Department of Finance
Downloads 179 (201,105)
Citation 3

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Cross-listed companies, information across markets, transparency, large trades

23.

Corporate Leverage and Employees' Rights in Bankruptcy

CEPR Discussion Paper No. DP12033
Number of pages: 75 Posted: 15 May 2017 Last Revised: 01 Apr 2019
Andrew Ellul and Marco Pagano
Indiana University - Kelley School of Business - Department of Finance and University of Naples Federico II - Department of Economics and Statistics
Downloads 0 (780,211)
Citation 3
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bankruptcy, leverage, seniority, wage bargaining, workers' rights

24.

Ipo Underpricing and After-Market Liquidity

The Review of Financial Studies, Vol. 19, Issue 2, pp. 381-421, 2006
Posted: 29 Feb 2008
Andrew Ellul and Marco Pagano
Indiana University - Kelley School of Business - Department of Finance and University of Naples Federico II - Department of Economics and Statistics

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Other Papers (1)

Total Downloads: 546
1.

Investors’ Horizons and the Amplification of Market Shocks

ECGI - Finance Working Paper No. 298/2010
Number of pages: 60 Posted: 18 Sep 2010 Last Revised: 04 Jun 2012
Stockholm School of Economics, Indiana University - Kelley School of Business - Department of Finance and Stockholm School of Economics
Downloads 546

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Fire sales, Institutional investors, Investor horizon, Market crashes, Financial crisis