Ivo Welch

University of California, Los Angeles (UCLA)

Professor

110 Westwood Plaza

C519

Los Angeles, CA 90095-1481

United States

http://www.ivo-welch.info

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • University of California, Los Angeles (UCLA)

    • Email
    • Tel: 310-825-2508
SCHOLARLY PAPERS

80

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Rank 93

SSRN RANKINGS

Top 93

in Total Papers Downloads

102,887

SSRN CITATIONS
Rank 110

SSRN RANKINGS

Top 110

in Total Papers Citations

1,343

CROSSREF CITATIONS

3,535

Scholarly Papers (80)

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1.

A Review of IPO Activity, Pricing and Allocations

Downloads 15,906 ( 235)
Citation 502

A Review of IPO Activity, Pricing and Allocations

Yale ICF Working Paper No. 02-01
Number of pages: 45 Posted: 09 Jan 2002
Jay R. Ritter and Ivo Welch
University of Florida - Department of Finance, Insurance and Real Estate and University of California, Los Angeles (UCLA)
Downloads 15,666 (239)
Citation 117

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IPOs

A Review of IPO Activity, Pricing, and Allocations

NBER Working Paper No. w8805
Number of pages: 45 Posted: 21 Feb 2002 Last Revised: 26 Oct 2010
Ivo Welch and Jay R. Ritter
University of California, Los Angeles (UCLA) and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 240 (151,657)
Citation 128

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A Review of IPO Activity, Pricing, and Allocations

Posted: 30 Dec 2003
Ivo Welch and Jay R. Ritter
University of California, Los Angeles (UCLA) and University of Florida - Department of Finance, Insurance and Real Estate

Abstract:

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2.

Portfolio Performance Manipulation and Manipulation-Proof Performance Measures

Downloads 7,641 ( 914)
Citation 94

Portfolio Performance Manipulation and Manipulation-Proof Performance Measures

Yale ICF Working Paper No. 02-08, AFA 2003 Washington, DC Meetings
Number of pages: 48 Posted: 22 Mar 2002
William N. Goetzmann, Jonathan E. Ingersoll, Matthew I. Spiegel and Ivo Welch
Yale School of Management - International Center for Finance, Yale School of Management - International Center for Finance, Yale University - Yale School of Management, International Center for Finance and University of California, Los Angeles (UCLA)
Downloads 7,641 (903)
Citation 94

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Portfolio Performance Manipulation and Manipulation-Proof Performance Measures

The Review of Financial Studies, Vol. 20, Issue 5, pp. 1503-1546, 2007
Posted: 26 Jun 2008
Jonathan E. Ingersoll, Matthew I. Spiegel, William N. Goetzmann and Ivo Welch
Yale School of Management - International Center for Finance, Yale University - Yale School of Management, International Center for Finance, Yale School of Management - International Center for Finance and University of California, Los Angeles (UCLA)

Abstract:

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G11, G23, G24

3.

Capital Structure and Stock Returns

Downloads 6,959 ( 1,082)

Capital Structure and Stock Returns

Number of pages: 35 Posted: 25 Jan 2002
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 6,959 (1,076)
Citation 108

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Capital Structure and Stock Returns

Posted: 25 Jan 2004
Ivo Welch
University of California, Los Angeles (UCLA)

Abstract:

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4.

Investor Sentiment Measures

Downloads 6,203 ( 1,335)
Citation 43

Investor Sentiment Measures

Number of pages: 50 Posted: 14 Sep 2004
Lily Xiaoli Qiu and Ivo Welch
Brown University - Department of Economics and University of California, Los Angeles (UCLA)
Downloads 5,937 (1,415)
Citation 63

Abstract:

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investor sentiment, consumer confidence

Investor Sentiment Measures

NBER Working Paper No. w10794
Number of pages: 51 Posted: 03 Aug 2006 Last Revised: 01 Jul 2010
Lily Xiaoli Qiu and Ivo Welch
Brown University - Department of Economics and University of California, Los Angeles (UCLA)
Downloads 266 (136,792)
Citation 1

Abstract:

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5.

The Top Achievements, Challenges, and Failures of Finance

Number of pages: 19 Posted: 28 Nov 2001
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 6,072 (1,387)
Citation 3

Abstract:

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6.

Research Roundtable Discussion: The Market Risk Premium

Number of pages: 10 Posted: 27 Jun 2000
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 4,480 (2,352)

Abstract:

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7.

The Link between Fama-French Time-Series Tests and Fama-Macbeth Cross-Sectional Tests

Number of pages: 21 Posted: 23 Sep 2008 Last Revised: 25 Nov 2008
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 4,463 (2,370)
Citation 6

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Asset Pricing, Fama-French, Fama-Macbeth, APT, CAPM

8.

Predicting the Equity Premium with Dividend Ratios

Downloads 3,885 ( 2,998)
Citation 220

Predicting the Equity Premium with Dividend Ratios

Yale ICF Working Paper No. 02-04
Number of pages: 36 Posted: 28 Apr 1999
Amit Goyal and Ivo Welch
University of Lausanne and University of California, Los Angeles (UCLA)
Downloads 3,765 (3,093)
Citation 9

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Predicting the Equity Premium with Dividend Ratios

NBER Working Paper No. w8788
Number of pages: 33 Posted: 14 Feb 2002 Last Revised: 26 Oct 2010
Amit Goyal and Ivo Welch
University of Lausanne and University of California, Los Angeles (UCLA)
Downloads 120 (277,029)
Citation 25

Abstract:

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9.

Common Problems in Capital Structure Research: The Financial-Debt-To-Asset Ratio, and Issuing Activity vs. Leverage Changes

AFA 2008 New Orleans Meetings Paper
Number of pages: 18 Posted: 20 Sep 2006 Last Revised: 22 Oct 2010
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 3,780 (3,137)
Citation 7

Abstract:

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capital structure

10.

A Comprehensive Look at the Empirical Performance of Equity Premium Prediction

Downloads 3,402 ( 3,728)
Citation 767

A Comprehensive Look at the Empirical Performance of Equity Premium Prediction

Yale ICF Working Paper No. 04-11
Number of pages: 59 Posted: 30 Apr 2004
Amit Goyal and Ivo Welch
University of Lausanne and University of California, Los Angeles (UCLA)
Downloads 3,268 (3,932)
Citation 7

Abstract:

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Equity Premium, Prediction, Stock Market

A Comprehensive Look at the Empirical Performance of Equity Premium Prediction

NBER Working Paper No. w10483
Number of pages: 53 Posted: 26 May 2004 Last Revised: 22 Feb 2021
Amit Goyal and Ivo Welch
University of Lausanne and University of California, Los Angeles (UCLA)
Downloads 134 (254,810)
Citation 159

Abstract:

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A Comprehensive Look at the Empirical Performance of Equity Premium Prediction

The Review of Financial Studies, Vol. 21, Issue 4, pp. 1455-1508, 2008
Posted: 08 Aug 2008
Ivo Welch and Amit Goyal
University of California, Los Angeles (UCLA) and University of Lausanne

Abstract:

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G12, G14

11.

A Critique of Recent Quantitative and Deep-Structure Modeling in Capital Structure Research and Beyond

AFA 2011 Denver Meetings Paper
Number of pages: 44 Posted: 04 Mar 2010 Last Revised: 18 Sep 2013
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 2,939 (4,839)
Citation 10

Abstract:

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Quantitative Structural Modeling

12.

Liquidity and Financial Market Runs

Number of pages: 35 Posted: 15 Jul 2003
Antonio E. Bernardo and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)
Downloads 2,811 (5,215)
Citation 9

Abstract:

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13.

The Equity Premium Consensus Forecast Revisited

Number of pages: 15 Posted: 27 Sep 2001
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 2,690 (5,622)
Citation 4

Abstract:

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Equity Premium

14.

A Note on 'Predicting Returns with Financial Ratios'

Number of pages: 12 Posted: 27 Jan 2004
Ivo Welch and Amit Goyal
University of California, Los Angeles (UCLA) and University of Lausanne
Downloads 2,400 (6,764)

Abstract:

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15.

The Consensus Estimate for the Equity Premium by Academic Financial Economists in December 2007

Number of pages: 14 Posted: 17 Jan 2008 Last Revised: 22 Jul 2009
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 1,541 (13,816)
Citation 40

Abstract:

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equity premium

16.

An Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness

Downloads 1,521 ( 14,112)
Citation 7

An Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness

Yale ICF Working Paper No. 00-47, Cowles Foundation Discussion Paper No. 1306, Dice Working Paper No. 2000-4
Number of pages: 46 Posted: 17 May 2001 Last Revised: 20 Aug 2009
David A. Hirshleifer and Ivo Welch
University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)
Downloads 1,521 (13,847)
Citation 7

Abstract:

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Memory, Inertia, Amnesia, Behavioral Economics

An Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness

Journal of Economics and Management Strategy, Vol. 11, No. 3, pp. 379-421, Fall 2002
Posted: 01 Dec 2008
David A. Hirshleifer and Ivo Welch
University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

Abstract:

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17.

Views of Financial Economists on the Equity Premium and on Professional Controversies

Downloads 1,500 ( 14,435)

Views of Financial Economists on the Equity Premium and on Professional Controversies

Number of pages: 52 Posted: 27 Apr 2000
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 1,500 (14,163)
Citation 29

Abstract:

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Views of Financial Economists on the Equity Premium and on Professional Controversies

Posted: 05 Jul 2000
Ivo Welch
University of California, Los Angeles (UCLA)

Abstract:

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18.

Best Practice for Cost-of-Capital Estimates

Marshall School of Business Working Paper No. 17-4
Number of pages: 65 Posted: 04 Oct 2015 Last Revised: 21 Feb 2017
Yaron Levi and Ivo Welch
University of Southern California - Marshall School of Business and University of California, Los Angeles (UCLA)
Downloads 1,380 (16,464)
Citation 12

Abstract:

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cost of capital, capital budgeting, CAPM

19.

A Theory of Fads, Fashion, Custom, and Cultural Change as Informational Cascades

Journal of Political Economy, Vol. 100, No. 5, pp. 992-1026, October 1992
Number of pages: 51 Posted: 01 Dec 2008 Last Revised: 18 May 2009
Sushil Bikhchandani, Ivo Welch and David A. Hirshleifer
University of California, Los Angeles - Anderson School of Management, University of California, Los Angeles (UCLA) and University of California, Irvine - Paul Merage School of Business
Downloads 1,344 (17,192)
Citation 160

Abstract:

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20.

Who Should Pay for Bankruptcy Costs?

Number of pages: 45 Posted: 01 May 2003
Ivo Welch, Arturo Bris and Alan Schwartz
University of California, Los Angeles (UCLA), IMD International and Yale Law School
Downloads 1,220 (19,815)

Abstract:

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21.

On the Evolution of Overconfidence and Entrepreneurs

Downloads 1,213 ( 20,011)
Citation 6

On the Evolution of Overconfidence and Entrepreneurs

Number of pages: 53 Posted: 16 Jul 2001
Antonio E. Bernardo and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)
Downloads 1,213 (19,664)
Citation 6

Abstract:

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Evolution, Overconfidence, Behavioral Economics

On the Evolution of Overconfidence and Entrepreneurs

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 28 Oct 2009
Antonio E. Bernardo and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)

Abstract:

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Theoretical, Overconfidence, Self-efficacy, Management decisions, Startups, Groups, Risk orientation, Survival rates

22.

Optimized vs. Sort-Based Portfolios

AFA 2010 Atlanta Meetings Paper
Number of pages: 45 Posted: 14 Jan 2009 Last Revised: 28 Dec 2009
Gerard Hoberg and Ivo Welch
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of California, Los Angeles (UCLA)
Downloads 1,172 (21,087)
Citation 6

Abstract:

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book-to-market, HML, characteristics, factors

23.

Reconciling Estimates of the Speed of Adjustment of Leverage Ratios

Number of pages: 49 Posted: 26 Jan 2010 Last Revised: 22 Oct 2010
Peter Iliev and Ivo Welch
Pennsylvania State University - Department of Finance and University of California, Los Angeles (UCLA)
Downloads 1,152 (21,712)
Citation 58

Abstract:

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Capital Structure, Leverage Ratios, Speed of Adjustment

24.

The Costs of Bankruptcy

Journal of Finance, Forthcoming, Yale ICF Working Paper No. 04-13, AFA 2005 Philadelphia Meetings Paper
Number of pages: 81 Posted: 07 Dec 2005
Arturo Bris, Ivo Welch and Ning Zhu
IMD International, University of California, Los Angeles (UCLA) and China Academy of Financial Research (CAFR)
Downloads 1,136 (22,105)
Citation 3

Abstract:

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25.

Referee Recommendations

Number of pages: 36 Posted: 29 Aug 2012 Last Revised: 03 Jun 2013
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 1,085 (23,619)
Citation 9

Abstract:

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26.

Do Powerful Politicians Really Cause Corporate Downsizing?

Number of pages: 8 Posted: 05 Sep 2014 Last Revised: 21 Oct 2015
Jason Snyder and Ivo Welch
University of California, Los Angeles (UCLA) - Anderson School of Management and University of California, Los Angeles (UCLA)
Downloads 1,060 (24,448)
Citation 5

Abstract:

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Earmarks, Investment

27.

Plausibility

Number of pages: 23 Posted: 27 Feb 2015 Last Revised: 23 Jun 2015
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 1,020 (25,823)
Citation 1

Abstract:

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causality, plausibility

28.

The Optimal Concentration of Creditors

Downloads 965 ( 27,993)
Citation 42

The Optimal Concentration of Creditors

Number of pages: 33 Posted: 27 Nov 2001
Ivo Welch and Arturo Bris
University of California, Los Angeles (UCLA) and IMD International
Downloads 926 (29,280)

Abstract:

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Banking, Capital Structure

The Optimal Concentration of Creditors

NBER Working Paper No. w8652
Number of pages: 42 Posted: 14 Dec 2001 Last Revised: 25 Oct 2010
Arturo Bris and Ivo Welch
IMD International and University of California, Los Angeles (UCLA)
Downloads 39 (513,747)
Citation 3

Abstract:

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29.

Simply Better Market Betas

Downloads 956 ( 28,438)

Simply Better Market Betas

Number of pages: 30 Posted: 06 May 2019 Last Revised: 17 Dec 2020
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 944 (28,501)

Abstract:

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market-beta, robust estimation, winsorization

Simpler Better Market Betas

NBER Working Paper No. w26105
Number of pages: 62 Posted: 02 Aug 2019
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 12 (692,902)
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Abstract:

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30.

A Theory of Legal Presumptions

Downloads 935 ( 29,321)
Citation 26

A Theory of Legal Presumptions

USC Law School, Olin Working Paper No. 99-8
Number of pages: 50 Posted: 04 May 1999
Antonio E. Bernardo, Eric L. Talley and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, Columbia University - School of Law and University of California, Los Angeles (UCLA)
Downloads 693 (43,613)
Citation 25

Abstract:

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A Theory of Legal Presumptions

Number of pages: 49 Posted: 11 Jul 2000
Antonio E. Bernardo, Eric L. Talley and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, Columbia University - School of Law and University of California, Los Angeles (UCLA)
Downloads 242 (150,391)
Citation 2

Abstract:

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31.

Aged and Recent Market Betas in Securities Pricing

Number of pages: 56 Posted: 17 Dec 2009
Gerard Hoberg and Ivo Welch
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of California, Los Angeles (UCLA)
Downloads 911 (30,436)
Citation 5

Abstract:

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market-beta, factor pricing, APT

32.

The Costs of Bankruptcy Chapter 7 Cash Auctions vs. Chapter 11 Bargaining

EFA 2004 Maastricht Meetings Paper No. 5155
Number of pages: 71 Posted: 03 Aug 2004
Arturo Bris, Ivo Welch and Ning Zhu
IMD International, University of California, Los Angeles (UCLA) and China Academy of Financial Research (CAFR)
Downloads 798 (36,461)
Citation 14

Abstract:

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33.

The Wisdom of the Robinhood Crowd

Downloads 759 ( 39,309)
Citation 7

The Wisdom of the Robinhood Crowd

Journal of Finance, Forthcoming
Number of pages: 46 Posted: 21 Sep 2020 Last Revised: 05 Apr 2021
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 542 (60,378)
Citation 9

Abstract:

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The Wisdom of the Robinhood Crowd

NBER Working Paper No. w27866
Number of pages: 52 Posted: 28 Sep 2020 Last Revised: 21 Feb 2021
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 217 (167,882)

Abstract:

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34.

A Different Way to Estimate the Equity Premium (for CAPM and One-Factor Model Use Only)

Number of pages: 11 Posted: 24 Dec 2007 Last Revised: 25 Nov 2008
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 716 (42,335)
Citation 17

Abstract:

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Beta, Capital Budgeting, CAPM

35.

The Effect of Socially Activist Investment Policies on the Financial Markets: Evidence from the South African Boycott

London Business School Institute of Finance and Accounting working paper 222
Number of pages: 58 Posted: 11 Nov 1996
Siew Hong Teoh, Ivo Welch and C. Paul Wazzan
University of California, Irvine - Accounting Area, University of California, Los Angeles (UCLA) and Berkeley Research Group,LLC
Downloads 714 (42,491)
Citation 52

Abstract:

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36.

Why is Bank Debt Senior? A Theory of Priority Based on Influence Costs

Number of pages: 44 Posted: 21 Aug 1996
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 585 (55,234)
Citation 8

Abstract:

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37.

Ethics (Web Chapter)

Number of pages: 50 Posted: 23 Jan 2006 Last Revised: 08 Feb 2015
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 521 (63,843)

Abstract:

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38.

A Model of Operational Slack: The Short-Run, Medium-Run, and Long-Run Consequences of Limited Attention

AFA 2010 Atlanta Meetings Paper
Number of pages: 48 Posted: 02 Jan 2007 Last Revised: 09 Dec 2016
Peter Iliev and Ivo Welch
Pennsylvania State University - Department of Finance and University of California, Los Angeles (UCLA)
Downloads 455 (75,514)
Citation 1

Abstract:

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Attention, Project Choice, Slack, Overinvestment, Diversification Discount

39.

Sharpening Sharpe Ratios

NBER Working Paper No. w9116
Number of pages: 51 Posted: 23 Aug 2002
William N. Goetzmann, Jonathan E. Ingersoll, Matthew I. Spiegel and Ivo Welch
Yale School of Management - International Center for Finance, Yale School of Management - International Center for Finance, Yale University - Yale School of Management, International Center for Finance and University of California, Los Angeles (UCLA)
Downloads 422 (82,569)

Abstract:

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40.

Stock Return Outliers

Number of pages: 17 Posted: 13 Nov 2017
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 397 (88,612)

Abstract:

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41.

Market-Beta and Downside Risk

Number of pages: 50 Posted: 18 Jul 2017 Last Revised: 14 May 2020
Yaron Levi and Ivo Welch
University of Southern California - Marshall School of Business and University of California, Los Angeles (UCLA)
Downloads 361 (98,832)
Citation 2

Abstract:

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Market Beta, Crash Risk

42.

Extended Stock Returns in Response to S&P 500 Index Changes

Number of pages: 46 Posted: 02 Aug 2015 Last Revised: 04 Oct 2016
Nimesh Patel and Ivo Welch
University of Hawai'i at Manoa, Shidler College of Business and University of California, Los Angeles (UCLA)
Downloads 330 (109,354)
Citation 9

Abstract:

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S&P 500

43.

Ratios of Changes: How Real Estate Shocks Did Not Affect Corporate Investment

Number of pages: 55 Posted: 04 Jun 2020 Last Revised: 05 Aug 2020
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 319 (113,423)
Citation 2

Abstract:

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collateral, real-estate, corporate investment

44.

Leverage and Preemptive Selling of Financial Institutions

AFA 2011 Denver Meetings Paper
Number of pages: 50 Posted: 31 Oct 2009 Last Revised: 03 Oct 2010
Antonio E. Bernardo and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)
Downloads 302 (120,314)
Citation 2

Abstract:

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Leverage, Banks, Financial Institutions, Preemptive Selling, Fire Sales

45.

Noise in Stock Returns as Natural Experiments: Forward- and Backward-Looking Market-Betas, Momentum, and Reversals

Number of pages: 49 Posted: 23 Mar 2009 Last Revised: 14 May 2009
Gerard Hoberg and Ivo Welch
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of California, Los Angeles (UCLA)
Downloads 302 (120,314)

Abstract:

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46.

A Model of Optimal Corporate Bailouts

Number of pages: 41 Posted: 05 May 2011 Last Revised: 05 May 2012
Antonio E. Bernardo, Eric L. Talley and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, Columbia University - School of Law and University of California, Los Angeles (UCLA)
Downloads 283 (128,800)
Citation 3

Abstract:

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Government Bailout, Moral Hazard, GM, Chrysler, TARP

47.

The (Time-Varying) Importance of Disaster Risk

Financial Analysts Journal, Forthcoming July/August 2016
Number of pages: 32 Posted: 22 Apr 2015 Last Revised: 18 Feb 2016
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 256 (142,843)
Citation 9

Abstract:

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black swans, disasters, catastrophes, dark events, equity premium

48.

Asset Redeployability, Liquidation Value, and Endogenous Capital Structure Heterogeneity

Number of pages: 78 Posted: 08 Jun 2017 Last Revised: 27 Oct 2018
Antonio E. Bernardo, Alex Fabisiak and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, University of California, Los Angeles (UCLA) - Anderson School of Management and University of California, Los Angeles (UCLA)
Downloads 245 (149,136)

Abstract:

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Debt, Distress, Fire Sales, Redployability, Heterogeneity Endogenous Pricing

49.

A Quasi-Experimental Test of the Risk-Reward Paradigm

Downloads 196 (184,204)

A Quasi-Experimental Test of the Risk-Reward Paradigm

Number of pages: 49 Posted: 31 Mar 2016 Last Revised: 06 Jun 2017
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 177 (201,707)

Abstract:

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Financing, Leverage, Capital Structure, Quasi-Experiments, Behavioral Finance

Levered Returns

NBER Working Paper No. w22150
Number of pages: 42 Posted: 11 Apr 2016
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 19 (638,479)

Abstract:

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50.

Leverage- and Cash-Based Tests of Risk and Reward with Improved Identification

Number of pages: 59 Posted: 08 Jun 2017 Last Revised: 18 Mar 2018
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 193 (186,761)
Citation 2

Abstract:

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Leverage, Risk, Reward, Quasi Experiments, Behavioral Finance

51.

Are Interest Rates Really Low?

Downloads 162 (217,490)

Are Interest Rates Really Low?

Number of pages: 38 Posted: 27 Jan 2018 Last Revised: 06 Feb 2018
Daniel R. Feenberg, Clinton Tepper and Ivo Welch
National Bureau of Economic Research (NBER), University of California, Los Angeles (UCLA) - Anderson School of Management and University of California, Los Angeles (UCLA)
Downloads 151 (231,154)

Abstract:

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Taxes, Interest Rates, Yields, Municipal Bonds, Treasuries

Are Interest Rates Really Low?

NBER Working Paper No. w24258
Number of pages: 39 Posted: 29 Jan 2018 Last Revised: 14 Apr 2021
Daniel R. Feenberg, Clinton Tepper and Ivo Welch
National Bureau of Economic Research (NBER), University of California, Los Angeles (UCLA) - Anderson School of Management and University of California, Los Angeles (UCLA)
Downloads 11 (700,956)

Abstract:

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52.

Capital Structure with Endogenous Liquidation Values

Number of pages: 36 Posted: 19 Oct 2014 Last Revised: 03 Oct 2015
Antonio E. Bernardo, Alex Fabisiak and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, University of California, Los Angeles (UCLA) - Anderson School of Management and University of California, Los Angeles (UCLA)
Downloads 151 (230,655)

Abstract:

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Capital Structure, Liquidation Values, Financial Distress

53.

Designing Corporate Bailouts

Journal of Law and Economics, Vol. 59, No. 1, 2016
Number of pages: 31 Posted: 13 Dec 2013 Last Revised: 02 Jan 2017
Antonio E. Bernardo, Eric L. Talley and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, Columbia University - School of Law and University of California, Los Angeles (UCLA)
Downloads 139 (246,682)
Citation 3

Abstract:

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Government Bailout, Moral Hazard, TARP, General Motors, Chrysler

54.

Contracting Externalities and Mandatory Menus in the U.S. Corporate Bankruptcy Code

Number of pages: 50 Posted: 22 Dec 2013 Last Revised: 03 Mar 2015
Antonio E. Bernardo, Alan Schwartz and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, Yale Law School and University of California, Los Angeles (UCLA)
Downloads 121 (274,169)
Citation 3

Abstract:

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Bankruptcy, Opt-Out Choice, Chapter 11

55.

Columbus' Egg: The Real Determinant of Capital Structure

NBER Working Paper No. w8782
Number of pages: 44 Posted: 14 Feb 2002 Last Revised: 26 Oct 2010
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 108 (297,138)

Abstract:

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56.

Optimal Debt Financing and the Pricing of Illiquid Assets

Number of pages: 27 Posted: 15 Mar 2011
Antonio E. Bernardo and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)
Downloads 105 (302,940)

Abstract:

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Liquidity, Returns, Volatility, Limits to Arbitrage

57.

The Value of Financial Flexibility: Equilibrium Liquidation Values and Endogenous Capital Structure Heterogeneity

Number of pages: 58 Posted: 12 Dec 2016
Antonio E. Bernardo, Alex Fabisiak and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area, University of California, Los Angeles (UCLA) - Anderson School of Management and University of California, Los Angeles (UCLA)
Downloads 78 (364,717)

Abstract:

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Capital Structure Theory

58.

Financial Market Runs

NBER Working Paper No. w9251
Number of pages: 44 Posted: 04 Oct 2002 Last Revised: 12 Apr 2021
Antonio E. Bernardo and Ivo Welch
University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)
Downloads 54 (440,787)
Citation 1

Abstract:

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59.

The Closed-Form Solution to Bertrand Competition with Exogenous Entry Costs or Participation

Number of pages: 3 Posted: 11 Oct 2017
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 51 (451,921)

Abstract:

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Bertrand

60.

Voluntary Self-Sustaining Reciprocity

Number of pages: 45 Posted: 23 Oct 2019 Last Revised: 24 Oct 2019
Alex Fabisiak and Ivo Welch
University of California, Los Angeles (UCLA) - Anderson School of Management and University of California, Los Angeles (UCLA)
Downloads 18 (624,122)

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Networks, Altruism, Reciprocity, Entry Barriers

61.

Two Common Problems in Capital Structure Research: The Financial-Debt-To-Asset Ratio and Issuing Activity Versus Leverage Changes

International Review of Finance, Vol. 11, No. 1, pp. 1-17, 2011
Number of pages: 17 Posted: 09 Mar 2011
Ivo Welch
University of California, Los Angeles (UCLA)
Downloads 4 (726,953)
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62.

Video: Structural Estimation Drawbacks

Posted: 27 Sep 2012
Ivo Welch
University of California, Los Angeles (UCLA)

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63.

The Results of the Equity Premium January 2009 Survey

Posted: 08 Dec 2009
Ivo Welch
University of California, Los Angeles (UCLA)

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equity premium

64.

Seasoned Offerings, Imitation Costs, and the Underpricing of Initial Public Offerings

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 17 Nov 2009
Ivo Welch
University of California, Los Angeles (UCLA)

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Seasoned offerings, Signaling, Underpricing, Valuation, Business conditions, Stock offerings, Information asymmetry, Initial public offerings (IPO)

65.

Learning from the Behavior of Others: Conformity, Fads, and Informational Cascades

Journal of Economic Perspectives, Vol. 12, No. 3, pp. 151-70, Summer 1998
Posted: 01 Dec 2008
Sushil Bikhchandani, David A. Hirshleifer and Ivo Welch
University of California, Los Angeles - Anderson School of Management, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

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66.

A Personal FAQ on the Financial Crisis of 2008

Posted: 29 Oct 2008
Ivo Welch
University of California, Los Angeles (UCLA)

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Financial Crisis 2008

67.

Information Cascades

THE NEW PALGRAVE DICTIONARY OF ECONOMICS, Second Edition, Steven N. Durlauf and Lawrence E. Blume, eds., Palgrave Macmillan/U.K., 2008
Posted: 05 Oct 2008 Last Revised: 29 Sep 2009
Sushil Bikhchandani, David A. Hirshleifer and Ivo Welch
University of California, Los Angeles - Anderson School of Management, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

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68.

Information Cascades; Entry Written for the New Palgrave Dictionary of Economics

Posted: 14 Nov 2005
Sushil Bikhchandani, David A. Hirshleifer and Ivo Welch
University of California, Los Angeles - Anderson School of Management, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

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information cascades, information aggregation, social learning, cultural evolution

69.

The Cross-Sectional Determinants of Corporate Capital Expenditures: A Multinational Comparison

Posted: 16 Jun 2002
Ivo Welch and David Wessels
University of California, Los Angeles (UCLA) and University of Pennsylvania - Finance Department

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70.

Herding Among Security Analysts

Posted: 16 Aug 2001
Ivo Welch
University of California, Los Angeles (UCLA)

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Herding, Imitation, Informational Cascades, Analysts

71.

Why is Bank Debt Senior? A Theory of Priority Among Creditors

Posted: 25 Sep 1999
Ivo Welch
University of California, Los Angeles (UCLA)

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72.

Institutional Memory, Inertia, and Impulsiveness

Posted: 02 Sep 1999
David A. Hirshleifer and Ivo Welch
University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

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73.

Legal Liability and Issuer Expenses in Ipos

Posted: 20 Dec 1998
Ivo Welch and Randolph P. Beatty
University of California, Los Angeles (UCLA) and University of Southern California - Leventhal School of Accounting

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74.

Effect of Socially Activist Investment Policies on the Financial Markets: Evidence from the South African Boycott

Posted: 12 Nov 1998
Siew Hong Teoh, Ivo Welch and C. Paul Wazzan
University of California, Irvine - Accounting Area, University of California, Los Angeles (UCLA) and Berkeley Research Group,LLC

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75.

Earnings Management and the Post-Issue Underperformance in Seasoned Equity Offerings

Posted: 10 Oct 1998
Siew Hong Teoh, Ivo Welch and T.J. Wong
University of California, Irvine - Accounting Area, University of California, Los Angeles (UCLA) and University of Sothern California

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76.

G-Iii Apparel Group, Inc.

Posted: 16 Sep 1998
Ivo Welch
University of California, Los Angeles (UCLA)

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77.

Earnings Management and the Post-Issue Underperformance of Seasoned Equity Offerings

Posted: 22 Aug 1998
Siew Hong Teoh, Ivo Welch and T.J. Wong
University of California, Irvine - Accounting Area, University of California, Los Angeles (UCLA) and University of Sothern California

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78.

Rational Herding in Financial Economics

IFA 218-1995
Posted: 09 Jul 1998
Andrea Devenow and Ivo Welch
Movielink and University of California, Los Angeles (UCLA)

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79.

A Theory of Dividends Based on Tax Clienteles

Rodney L. White Center Working Paper No. 15-98
Posted: 25 Jun 1998
Franklin Allen, Antonio E. Bernardo and Ivo Welch
Imperial College London, University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)

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80.

Culture, Information, and Screening Discrimination

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Culture, Information, and Screening Discrimination

JOURNAL OF POLITICAL ECONOMY, Vol. 104, No. 3, June 1996
Posted: 21 Jun 1996
Bradford Cornell and Ivo Welch
Anderson Graduate School of Management, UCLA and University of California, Los Angeles (UCLA)

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Culture, Information, and Screening Discrimination

Posted: 02 Feb 1995
Bradford Cornell and Ivo Welch
Anderson Graduate School of Management, UCLA and University of California, Los Angeles (UCLA)

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